Fintech Finance

DECEMBER 12, 2024

The new solution supports payment service providers (PSPs) in offering Verification of Payee services to their customers that fulfill the requirements of the Instant Payments Regulation (IPR) and of the VOP Scheme developed by the European Payments Council (EPC). EBA CLEARING today announced the launch of its SEPA-wide VOP solution.

Payee 98

Payee Verification IBAN End User 98

The Payments Association

JUNE 3, 2025

Relax the common bond and credit broking barrier to affordable credit : The Money and Pensions Service estimates that more than nine million adults across the UK were declined credit in just 12 months between April 2022 and 2023, and this figure is only expected to grow.

Financial Inclusion 88

Financial Inclusion Financial Literacy Treasury Governance 88

Clearly Payments

JULY 23, 2025

Merchants with clear refund and billing policies see up to 30% fewer disputes, according to a 2023 Verifi study. To stay in good standing: Respond to disputes promptly Use pre-transaction fraud tools (3DS2, address verification, etc.) Global losses from payment fraud hit $38.5 Visa and Mastercard thresholds (2025): Visa: 0.9%

Compliance 65

Compliance PCI DSS Processors Disputes 65

Clearly Payments

JANUARY 15, 2025

Address Verification Service (AVS) Fees What It Is: AVS is an extra layer of fraud protection that checks the billing address entered by the customer. Negotiate with Your Processor Fact: According to a 2023 survey, about 65% of merchants who negotiate are able to lower at least one fee. Cost Range: Often $0.01$0.10 per transaction.

Process 105

Process Processors Gateways Push-to-Card 105

Clearly Payments

DECEMBER 11, 2024

Key Statistics on Alternative Payment Methods Global Growth : APMs accounted for 58% of global e-commerce transactions in 2023, and theyre expected to exceed 70% by 2027. Why It Matters : Simple and widely adopted in Asia, QR code payments accounted for 90% of Chinas digital payments in 2023, facilitating fast, in-person transactions.

Alternative Payment Methods 59

Alternative Payment Methods Online and Mobile Banking BNPL Payments 59

The Fintech Times

FEBRUARY 14, 2025

User-friendly fraud-as-a-service (FaaS) kits that enable amateurs to execute complex attacks against thousands of accounts in minutes are becoming increasingly available online, AU10TIX , the identity verification and management technology provider, has revealed.

Deepfake 78

Deepfake APACS Law Enforcement Fraud Detection 78

Fintech News

JANUARY 26, 2025

Back in 2023, digital wallets accounted for 82% of China’s e-commerce spending and 66% of physical purchases, totalling around US$7.6 In 2023, credit card payments comprised 52.2% trillion in transactions, CNBC reports. of all cashless transactions in Japan.

Payments Trends 128

Payments Trends Payment APIs and Integration Embedded Finance Cross-Border 128

Finextra

JULY 1, 2025

For high-risk transactions, a contextual notification is sent directly to the trusted device, allowing immediate user verification, giving users peace of mind that they are fully in control. Then, silent signals analyze the interaction to ensure it matches the users typical behavior patterns. It expresses the views and opinions of the author.

Account Takeovers 52

Account Takeovers Authentication Fraud Prevention Stablecoins 52

The Payments Association

JANUARY 21, 2025

Financial crime Financial crime continues to grow in scale and complexity in 2024, with a 15% increase in overall case volumes compared to 2023. At the same time, financial crime remains a persistent challenge, requiring continued investments in AI, automation, and digital verification to strengthen resilience.

Payments Trends 88

Payments Trends Financial Crimes Cross-Border Payments 88

The Payments Association

FEBRUARY 10, 2025

Strengthening KYC procedures is critical, ensuring that verification extends beyond master account holders to individual vIBAN end users. When thinking in the context of customer verification, vIBANs are often treated as extensions to master accounts as opposed to independent relationships. This leads to inadequate due diligence.

IBAN 88

IBAN AML Master Account Due Diligence 88

Fintech News

JUNE 11, 2025

The group has been active since mid-2023, running coordinated campaigns that exploit weaknesses in remote identity verification systems. Based on the research, it’s a full-fledged operation engineered to fake identity verification at scale. Their techniques aren’t just smart. They’re built to outpace current defences.

Crime 71

Crime Deepfake AI APACS 71

Finovate

FEBRUARY 5, 2025

Payment technology provider for financial institutions, Numeral, unveiled its fully managed Verification of Payee (VOP) solution this week. Headquartered in France, Numeral made its Finovate debut at FinovateEurope 2023. The company was acquired by fellow Finovate alum Mambu in December.

Payee 59

Payee Verification Payer API 59

The Payments Association

FEBRUARY 10, 2025

The Economic Crime and Corporate Transparency Act 2023, specifically the “failure-to-prevent fraud” offence, and outlines how businesses can mitigate fraud risks. The issue of fraud is growing in the UK, with the average monetary loss per corporate fraud case being 21,433 in Q2 2023 , the highest among all fraud types.

Crime 88

Crime Fraud Prevention Risk Assessment Due Diligence 88

Clearly Payments

FEBRUARY 10, 2025

Contactless payments grew by 150% between 2020 and 2023. Fraud Risks Cross-border transactions have twice the fraud risk compared to domestic payments, leading to stricter verification measures. Implement Fraud Prevention Tools Address Verification Systems (AVS) and 3D Secure can reduce fraud risk.

Small Business 65

Small Business Process Address Verification System (AVS) Cross-Border 65

The Fintech Times

APRIL 17, 2025

Volt , the global real-time payments platform, has announced its new strategic open banking partnership with Sumsub , a global full-cycle verification platform. Volt will power Sumsubs Penny Drop Verification flow, which involves an end user being directed to their banking app after scanning their identity document.

FinTech 59

FinTech Embedded Finance AI Verification 59

The Fintech Times

JUNE 3, 2025

In a conversation with Mark Walker , editorial director of The Fintech Times at Dubai Fintech Summit 2025 , Bowlby explained how frightening the global fraud figures are and why it is crucial a new way of approaching verification is needed. You have to show your government-issued documents and then we check these against government databases.

Technology 49

Technology Database Verification Governance 49

Fintech Finance

JULY 7, 2025

Redpin was formed in 2023 following Blackstone’s investment in two award-winning FX companies, Currencies Direct and TorFX. Many European jurisdictions still operate under legacy regulatory regimes for property transactions, often requiring physical paperwork, wet signatures, and face-to-face identity verification.

Multi-Currency 52

Multi-Currency Identity Theft Cross-Border Payments 52

The Payments Association

JULY 15, 2025

Embedding Trusted AI and continuous ID verification is critical to counter synthetic media threats. This substantial prevalence highlights the critical importance of robust identity verification systems and ‘know your customer’ procedures in an increasingly digital financial landscape.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Deepfake 88

Stax

APRIL 8, 2025

Merchants paid a record $172 billion in payment processing fees in 2023. Latest Changes That Can Affect Processing Fees Of the $172 billion that merchants paid in processing fees in 2023, $170 billion accounted for interchange and assessment fees alone. Not only is this model difficult to understand but also lacks transparency.

Credit Cards 88

Credit Cards Process Processors Push-to-Card 88

Fintech News

APRIL 6, 2025

A significant four-fold surge in deepfakes worldwide from 2023 to 2024 further underscores the increasing role of AI in fraud. The initial course offerings will cover Business Verification Fundamentals, Transaction Monitoring, Travel Rule, and how to collect data for successful KYC. Deepfakes now account for 7% of all fraud cases.

Fraud Prevention 71

Fraud Prevention Deepfake Travel Rule Continuing Education 71

The Payments Association

APRIL 7, 2025

In 2023, the most prevalent types of fraud included identity fraud, facility takeovers, and misuse of facilities, reflecting the persistent and evolving nature of these threats. The Financial Crime 360 State of the Industry Survey 2024, which involved 150 participants from 32 countries, provides critical insights into the payments industry.

Financial Crimes 88

Financial Crimes Crime AML Fraud Prevention 88

The Payments Association

DECEMBER 2, 2024

This measure aims to enhance security and reduce fraud but requires PSPs to develop or integrate verification systems, potentially increasing operational costs. Consumer Duty While the Consumer Duty was initially put into place in 2023, an extended deadline of July 31 was set for closed products and services.

Regulations 88

Regulations Instant Payments Consumer Protection Payments 88

The Payments Association

JUNE 11, 2025

To keep up, organisations need to move away from simple, KYC-focused verification and towards a proactive, multi-layered approach." The volume of Magecart e-skimmer infections reached nearly 11,000 unique e-commerce domains in 2024, representing a threefold increase from 2023.

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

Nanonets

APRIL 24, 2025

As healthcare digitization has surged from 10% in 2010 to 96% in 2023 , these firms now face overwhelming volumes of complex medical documents. Each data point is linked to its source page and document for verification. These calculations come from specialized underwriting firms that analyze patients' medical records in detail.

Underwriting 52

Underwriting Automation Process Volume 52

The Payments Association

DECEMBER 10, 2024

In order to combat the rising threat, the financial sectors AI spend is predicted to grow from $35 billion in 2023 to $97 billion by 2027. However, In addition to adopting advanced fraud detection tools, payments firms must implement robust authentication methods such as multi-factor authentication (MFA), biometric verification (e.g.,

AI 88

AI Fraud Detection Fraud Prevention Deepfake 88

Neopay

JANUARY 30, 2025

The National Economic Crime Plan (2023-2026) has identified money mules as a major enabler of fraud and other criminal activities. Alarmingly, FCA data indicates that while 194,084 money mules were offboarded by 25 firms between January 2022 and September 2023, only 37% were reported to the NFD.

Financial Crimes 59

Financial Crimes Fraud Detection Crime Best Practices 59

M2P Fintech

MARCH 24, 2025

Back in the day, loan management system s were synonymous with pile s of paperwork involving intricate manual calculations and lengthy verifications, leading to slow approvals. from 2023 to 2032. Identity Verification: Provides a secure digital identity, simplifying verification and enhancing regulatory compliance.

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Underwriting 52

Finovate

MAY 28, 2025

The partnership will combine Daon’s identity verification and biometric authentication technology with Giesecke+Devrient’s digital security product suite. Founded in 1852, the company generated a turnover of three billion euros in fiscal year 2023. “Security has always been at the core of G+D’s mission.

Fraud Prevention 52

Fraud Prevention Verification Deepfake Central Bank 52

The Fintech Times

APRIL 21, 2025

Since its launch in 2023, this initiative has accelerated over 60 startups, with the fourth cohort set to be announced on 2 June, 2025.

FinTech 45

FinTech Instant Payments Participant Embedded Finance 45

The Payments Association

JULY 18, 2025

billion in 2023 to USD 35.79 Founded in 2017 by a former Worldpay CTO, Yaspa blends open banking and AI to provide Intelligent Payments: real-time bank payments (Pay by Bank) combined with verified customer insights, as well as a full suite of payment and account verification services.

Instant Payments 88

Instant Payments Non-Bank Regulations Real Time Payments 88

The Fintech Times

OCTOBER 31, 2024

FullCircl’s platform helps financial institutions automate and accelerate onboarding and improve client lifecycle management, by helping them overcome regulatory and verification challenges.

Acquirers 64

Acquirers Automation Database Verification 64

Finextra

JUNE 26, 2025

billion by 2027, with e-commerce businesses alone anticipated to incur an estimated $48 billion in losses to online payment fraud in 2023. The Federal Trade Commission (FTC) alone documented nearly 266,000 cases of online shopping and negative review scams in 2023. Problem 1: Mistrust in Sellers. Problem 2: Mistrust in Buyers.

Stablecoins 52

Stablecoins Payment APIs and Integration Fraud Prevention Cross-Border 52

Finovate

JANUARY 10, 2025

Paylink Solutions launched its ReFi solution in the fall of 2023. Dataships recently announced a pair of new innovations to its platform: SMS Easy Opt-in , which replaces “Reply Y” with in-checkout verification, and A/B Testing Engine that provides transparent measurement of baseline versus opt-in rates.

Innovation 64

Innovation Cross-Border Payments Payments Cross-Border 64

The Payments Association

JANUARY 15, 2025

Swift uses its Payment Pre-validation service to connect different Verification of Payee (VoP) schemes. This added transparency would bring cross-border functionality to domestic instant payments, aligning with the G20s roadmap and providing end users with a payments experience that is fast and secure.

SWIFT 88

SWIFT ISO 20022 Cross-Border Cross-Border Payments 88

Stax

DECEMBER 9, 2024

Use address verification, CVV checks, and fraud scoring models to identify potentially fraudulent orders. billion in 2023 , an uptick that can be partly explained by the global boost in online sales caused by the COVID-19 pandemic. Monitor suspicious activities and flag any irregularities for further investigation.

Credit Cards 88

Credit Cards Process Disputes Card Issuer 88

Fintech Finance

JULY 2, 2025

According to a FinCEN study examining reports from February to August 2023, mail theft alone resulted in $688 million in losses. Invest in fraud detection and prevention tools, such as identity verification capabilities. By the Numbers: Check fraud accounted for about 32% of all fraud losses in 2024, according to Federal Reserve data.

Treasury 52

Treasury Checks SWIFT Treasury Checks 52

The Fintech Times

MAY 30, 2025

With the AI boom appearing to take off almost overnight in early 2023, the sector has not looked back, leaping from one milestone to the next. “That said, its long-term potential is hard to ignore, especially in areas where trust and verification cant be compromised.

Blockchain 51

Blockchain AI Use Case Cryptocurrency 51