Trending Articles

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Citi stays course on tech modernization, simplification

Bank Automation

Citigroup’s multiyear modernization strategy saw progress in the second quarter as the bank’s tech investments proved more necessary after the Federal Reserve Board penalized the bank this week. “We have made meaningful progress in executing our transformation and simplifying our multiyear undertaking,” Chief Executive Jane Fraser said during the $2.

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Congress members egg on US payments system expansion

Payments Dive

A bipartisan group is nudging the Federal Reserve to explain why it can’t speed up a plan to extend the operational availability of the U.S. payments system.

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Digital Payments: 12 Digital Payment Options to Consider Accepting in Your Business

Stax

It’s no question that the world has been digitally transformed — both in business and in life. We can hail a ride from a mobile app, and our transactions for all sorts of goods and services can be easily paid for from our phones. Physical wallets are phasing out, left behind in favor of digital wallets and other digital payment options. All you need to use a digital wallet is a smartphone.

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Evolve Bank says ransomware gang stole personal data on millions of customers

TechCrunch Fintech

Evolve has confirmed that the personal data of at least 7.6 million people was accessed during LockBit's ransomware attack. © 2024 TechCrunch. All rights reserved. For personal use only.

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Provide Real Value in Your Applications with Data and Analytics

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

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Coffee with the Council Podcast: Meet Three Qualified Security Assessors Who Completed the Council’s AQSA Mentorship Program and Advanced Their Careers

PCI Security Standards

Welcome to our podcast series, Coffee with the Council. I'm Alicia Malone, Senior Manager of Public Relations for the PCI Security Standards Council. In this episode, we'll meet three Qualified Security Assessors, or QSAs. A QSA company is a data security firm certified by the Council to perform on-site assessments of a company's PCI Data Security Standard compliance.

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Visa and Tangem combine payment card with crypto wallet

Finextra

Crypto wallet provider Tangem is partnering with Visa on the launch of a payment card that will be integrated with the Swiss firm's self-custodial hardware wallet.

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Citigroup Cuts 500 Jobs in Singapore as Part of Global Strategy

Fintech News

Citigroup Inc. has laid off about 500 employees as part of a global restructuring effort, as reported by The Straits Times. The bank now has about 8,000 full-time and contract employees in Singapore, down from 8,500 in October. This reduction aligns with Citigroup ‘s broader strategy to “streamline its operations” by cutting management layers and roles concentrated in the Asia Pacific region.

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Scoping out leadership

The Payments Association

Some businesses make the mistake of believing that taking over the world equates to success. It can end up being a huge investment and distraction from their core business and customers. In my experience, organisations that want to grow in the right way would usually benefit from doing three key things - collaborating with like-minded businesses, integrating innovative software from trusted providers, and familiarising themselves with regional nuances.

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Apple reaches deal with EC on NFC payments access

Finextra

Apple has staved off massive European Commission fines by agreeing to open up the NFC chip technology that enables iPhone users to make contactless payments to third-party providers.

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Target to stop accepting personal checks

Payments Dive

The retailer’s customers will still have six payment options after the change takes effect in about a week.

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Residual Income Strategies: Building a Sustainable Merchant Services Portfolio

Build a sustainable merchant services portfolio with practical strategies to ensure long-term success. Diversify across industries to spread risk and stabilize income, balancing high-risk and low-risk clients for a robust mix. Combine large and small merchants to create a resilient payment portfolio, leveraging each type's strengths. Foster long-term relationships through exceptional service and personalized support.

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Podcast: ConnectOne Bank invests in data training

Bank Automation

ConnectOne Bank invests in technology that generates data to boost efficiencies, but the systems are only beneficial if employees use them consistently. For example, the $9.8 billion Englewood Cliffs, N.J.

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How Distributed Databases Drive the Digital Boom in ASEAN: Insights from OceanBase

Fintech News

As Southeast Asia’s digital economy continues to surge, businesses are seeking robust technological solutions to support their growth. The region is emerging as the world’s most rapidly expanding online market, with a staggering 125,000 new users gain access to the Internet each day. Projections suggest that the burgeoning ASEAN digital economy will contribute an additional US$1 trillion to the regional Gross Domestic Product (GDP) over the coming decade.

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Expensify Unveils Unlimited Virtual Cards for Enhanced Spend Management

Fintech Finance

Expensify, Inc. (Nasdaq: EXFY), the financial management super app for expenses and corporate cards, announced unlimited virtual cards with the Expensify Visa® Commercial Card. With this addition to the platform, Expensify empowers businesses to take control of their spending with unparalleled flexibility and precision. Expensify members can now issue an unlimited number of virtual cards, providing unmatched flexibility in managing expenses across employees and merchants.

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AWS announces generative AI service to create apps

Finextra

Named AWS App Studio, financial institutions, fintech firms and virtually any organisation are now able to build an application that could have taken a professional developer days to create from scratch, but in minutes.

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How To Craft Your Perfect Retail Tech Stack

Speaker: Jason Cottrell and Brian Walker

The era of all-in-one platforms is over. Now, retail success depends on integrating a blend of diverse technologies to thrive. As customers and stakeholders expect agility and innovation, how can you meet these expectations efficiently without stumbling into complexity? Explore a customer-centric approach to navigating digital transformation in retail.

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Banks should proactively tackle instant payments fraud: BNY

Payments Dive

Use of data-sharing protocols among banks could warn customers before they send money, said Carl Slabicki, a BNY executive.

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New Collaboration Boosts Fundraising Efficiency for Nonprofit Organisations

The Fintech Times

Swipesum, a payment processing consultancy, and Authorize.net, a Visa solution, are collaborating with 4aGoodCause, an online donation platform, to improve customer support and streamline payment processes for nonprofits. This partnership will offer organisations on the 4aGoodCause platform flexible payment options, enhanced fraud detection, and dedicated payment support.

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Outdated Payment Systems Eroding Profit Margins Across Travel Industry

Fintech News

A new report by global payments firm Airwallex and Skift Research reveals that 66 percent of travel companies worldwide are experiencing reduced profit margins due to outdated payment systems. The study indicates that 90 percent of these companies plan to prioritise upgrades to payment and financial operations systems over the next year. The report, based on a survey conducted in April 2024 with 473 travel executives from seven global markets, highlights that 70 percent of travel companies find

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Banking Circle Group Joins the Financial Technology Association

Fintech Finance

The Financial Technology Association (FTA) today announced that Banking Circle Group , a banking and payments leader for the new economy, has joined the association as its newest member. Banking Circle Group is a unique combination of a world-class technology company and a fully licensed financial services company, delivering fast, low-cost global payments and banking services by connecting directly to the world’s clearing systems.

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Secrets of a Successful Sale: Optimizing Your Checkout Process

Speaker: David Nisbet, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

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Mastercard and Visa extend cap on inter-regional fees for tourist cards in EU

Finextra

Visa and Mastercard have committed to keep a cap on tourist card fees in place for another five years, says the European Commission.

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The Clearing House’s RTP network logs Q2 records

Payments Dive

The real-time payments system has been growing its roster of banks and credit unions, as it newly competes with the Federal Reserve’s FedNow payments system.

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Bank Automation Summit Europe 2024 Announces Strategic Partnership with DIGITALEUROPE

Bank Automation

Bank Automation Summit Europe 2024 is delighted to announce a strategic partnership with DIGITALEUROPE, the leading trade association representing digitally transforming industries in Europe. This partnership aims to amplify the impact of both organizations in driving innovation and excellence in European banking and digital sectors. Bank Automation Summit Europe 2024, scheduled for Oct.

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Singapore Banks to Phase Out OTPs for Digital Token Users

Fintech News

Major retail banks in Singapore will progressively phase out One-Time Passwords (OTPs) for digital token users over the next three months. Announced by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), this move aims to better protect customers from phishing scams. Phishing scams were among the top five scam types last year, with at least S$14.2 million lost to these scams, according to the Singapore Police Force Annual Scams and Cybercrime Brief 2023.

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Deliver Mission Critical Insights in Real Time with Data & Analytics

In the fast-moving manufacturing sector, delivering mission-critical data insights to empower your end users or customers can be a challenge. Traditional BI tools can be cumbersome and difficult to integrate - but it doesn't have to be this way. Logi Symphony offers a powerful and user-friendly solution, allowing you to seamlessly embed self-service analytics, generative AI, data visualization, and pixel-perfect reporting directly into your applications.

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NOW Money Partners with Mastercard to Empower Customers with Enhanced Financial Access

Fintech Finance

NOW Money , one of the leading inclusive digital payroll and banking platform for migrant workers, today announced its new strategic partnership with Mastercard , a global technology company in the payments industry. As part of this collaboration, NOW Money customers will be issued a Mastercard payment card, providing them with secure, seamless, and convenient access to their finances and enabling them to reap the benefits of the digital economy.

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The Potential of Programmable Payments

Finextra

At EBAday 2024, Gilbert Verdian, Founder and CEO, Quant, explores how programmable payments can enhance the efficiency of both personal and business financial transactions. Highlighting the important role of the Regulated Liability Network (RLN) in the UK, the discussion turns to advancing programmable payments using both existing and tokenised bank deposits.

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Self checkout boasts ‘record’ year: report

Payments Dive

The U.S. is the world’s largest self-checkout market, driven in part by supermarket chains and convenience stores, even as some retailers pull back on the tech.

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Jiangxi Bank of China goes under

The Paypers

Jiangxi Bank of China has gone under, as the banking sector is currently facing a full-scape crisis with financial institutions being absorbed into larger enterprises.

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Using Data & Analytics for Improving Healthcare Innovation and Outcomes

In the rapidly evolving healthcare industry, delivering data insights to end users or customers can be a significant challenge for product managers, product owners, and application team developers. The complexity of healthcare data, the need for real-time analytics, and the demand for user-friendly interfaces can often seem overwhelming. But with Logi Symphony, these challenges become opportunities.

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Nominations Now Open for SFF 2024 Fintech Excellence Awards

Fintech News

The Monetary Authority of Singapore (MAS) and the Singapore Fintech Association (SFA) have opened nominations for the Singapore Fintech Festival (SFF) Fintech Excellence Awards 2024. Now in its ninth year and supported by PwC Singapore, the awards aim to recognise innovative fintech solutions from both corporates and individuals globally. The focus will be on those leading the way in adopting new technologies to transform industry practices, enhance financial services, create growth opportunitie

FinTech 107
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Skipify Appoints Payment Industry Veterans from Visa, Airbnb, and PayPal as New COO and VP of Sales

Fintech Finance

Leading fintech company redefining the checkout experience, Skipify appoints Sam Shrauger as the new Chief Operating Officer and Lucy Morse as the new Vice President of Enterprise Sales. Both executives bring extensive payment industry experience from some of the world’s most influential companies across finance, technology and consumer sectors.

PayPal 98
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AI Startups Dominate Q2 2024 Venture Capital Landscape Amid Global Shifts

The Fintech Times

Global venture funding experienced an upward trend for the second consecutive quarter, climbing eight per cent quarter-over-quarter to $65.7billion in Q2 2024. Despite this increase, the number of deals continued to decline, marking the ninth straight quarter of decreases with only 6,230 deals. This figure represents less than half the deal volume recorded at its peak in Q1 2022.

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Travelex adds currencies to pre-paid card

Finextra

Travelex, a market leading foreign exchange brand, has added a further seven currencies to its pre-paid currency card, the Travelex Money Card (TMC).

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6 Innovative Strategies for Mastering Merchant Services Sales

Ready to boost your game and stand out in the competitive world of merchant services sales? Discover 6 innovative strategies that will help you rise above the crowd, from leveraging tech trends and perfecting referral programs to harnessing the power of testimonials and pop-up events. Learn how educating clients can turn you into a trusted advisor and uncover the secrets of building community ties that cement your reputation as a market leader.