Worldline moves into account-to-account payment market
Finextra
OCTOBER 17, 2024
Worldline is seeking to futher diversify its payment offerings with the launch of account-to-account payment services across ten European markets.
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Worldline Launches “Bank Transfer by Worldline”, a New Account-to-Account Payment Method in 14 European Countries by End of 2024
Fintech Finance
OCTOBER 17, 2024
Worldline [Euronext: WLN], a global leader in payment services, today announces the launch of its account-to-account payment method named “Bank Transfer by Worldline”. From other similar payment methods, we know our customers feel safe paying with their bank account.
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Worldline Launches Account-to-Account Transfer Tool in Europe
Finovate
OCTOBER 17, 2024
Worldline has launched Bank Transfer by Worldline , an account-to-account payment tool. After debuting its embedded payments tool earlier this month, the France-based company is launching Bank Transfer by Worldline , an account-to-account payment method.
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Accounting Through the Ages: From Accountant to NHL Goaltender
FloQast
MARCH 29, 2024
On March 29, 2018, Scott Foster, then a senior financial accountant from suburban Chicago, found himself achieving a childhood dream in perhaps the most unlikely way possible. in the Spring of 2018, Scott Foster was about to become the most famous accountant in the universe. A Legendary Performance “I’m an accountant by day.
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Account-to-Account Payments and Instant Payments Set to Spark New Wave of Innovation
Fintech Finance
SEPTEMBER 11, 2024
The Capgemini Research Institute’s World Payments Report 2025 , published today, reveals an industry set to be reimagined with account-to-account and instant payments. Now celebrating its 20th anniversary edition, the report predicts instant payments will account for 22% of all non-cash transaction volumes by 2028 globally.
AI accounts for 31% of VC funding in Q3
Bank Automation
OCTOBER 9, 2024
Global venture capital funding took a hit in the third quarter, but AI startups accounted for 31% of all global funding. This is surprising, because we […] The post AI accounts for 31% of VC funding in Q3 appeared first on Bank Automation News. Venture capital funding for startups globally dropped 21% year over year to $54.7
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15,000 Blacklisted and 34,000 Accounts Suspended in Thai Banking Fraud Crackdown
Fintech News
SEPTEMBER 2, 2024
The Thai Bankers Association (TBA) has blacklisted 15,000 individuals and suspended 34,000 bank accounts connected to call-center scam operations, according to The Nation. The move follows the implementation of an AI-driven Cross-Reference File (CRF) system designed to identify mule accounts used in money laundering activities.
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OCBC Officially Launches Bank Account for Children and Teens
Fintech News
OCTOBER 20, 2024
OCBC Bank has officially launched a new bank account designed specifically for children and teenagers aged 7 to 15. The OCBC MyOwn Account allows young people to manage their finances through the OCBC app, with parental controls in place. OCBC aims to open 100,000 MyOwn Accounts within the next year. But there must be balance.
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Unpacking the surge in current account switching: What’s driving consumers to change banks?
The Payments Association
OCTOBER 14, 2024
Traditionally, consumers stuck with familiar banks, but there’s now a growing trend of current account switching. According to data from Pay.UK, the Current Account Switch Service (CASS) has completed 10.9 million payments, with motivations for switching including higher interest rates, lower account fees and fewer charges.
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AI in Accounting: Charting a New Course Forward
FloQast
SEPTEMBER 10, 2024
From the highest levels to the deepest valleys of hallucination , Gen AI’s potential, and its drawbacks, and, most relevantly here: How we see it impacting the accounting profession — now, and down the road. As Mike put succinctly: “There’s a huge talent shortage in accounting. Here’s a section I found particularly interesting.
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J.P. Morgan and Trustpair Join Forces to Offer Global Bank Account Validation Service
Fintech Finance
OCTOBER 1, 2024
Trustpair , leading vendor fraud prevention platform for multi-national corporates, has now enhanced its capability to verify global bank account information and extended its comprehensive coverage collaborating with Confirm, an application developed by Onyx by J.P. The post J.P.
BKN301 Launches New Payment Solution ‘301 Retail Account’ to Empower MENA Region’s Financial Landscape
Fintech Finance
OCTOBER 2, 2024
BKN301 Group , a London-based leading digital payments and Banking-as-a-Service (BaaS) provider in the MENA region, unveiled its latest innovative payment solution, ‘301 Retail Account.’ We are excited to introduce our latest advancement, the 301 Retail Account, to the global and Middle Eastern markets.
Finastra integrates with Prelim to streamline account opening
Finextra
SEPTEMBER 16, 2024
Finastra, a global provider of financial services software applications, today announced an integration with Prelim, an industry-leading fintech, for its Finastra Phoenix core solution, enhancing the retail and commercial deposit account opening experience.
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Digital Fraud Attacks Rise 17% in Financial Services, Driven by Payment and Account Creation Fraud
Fintech News
SEPTEMBER 22, 2024
Global highlights: January – December 2023, Source: Confidence Amid Chaos: Managing Fraud and Scams with Data and Analytics, LexisNexis Risk Solutions In financial services, new account creation attacks increased by 12% YoY, driven by increases on the mobile channel, primarily mobile browser. of all cases.
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6 Best Accounting Apps for Small Businesses
Stax
MAY 30, 2024
Finding the best accounting apps can be overwhelming and difficult, as there are so many options to choose from. Here’s a list of the ten best accounting apps for your business. TL;DR Bookkeeping is essential for business profitability, and finding the right accounting apps can simplify this task.
Chetwood Financial Rebrands as Chetwood Bank as It Launches Easy Access Savings Account
Fintech Finance
OCTOBER 10, 2024
The rebrand coincides with the launch of a new Easy Access savings account, which combines competitive rates with flexibility and convenience. The new savings account will be available at chetwoodbank.co.uk alongside existing brands such as SmartSave, ModaMortgages and CHL Mortgages. No jargon, no nonsense – no surprises.”
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Fincluded Introduces PINCARD, The Payment Account for Migrant Workers
Fintech Finance
AUGUST 13, 2024
The social fintech company Fincluded from Utrecht proudly announces the launch of PINCARD, the payment account designed specifically for EU migrant workers. Access to financial services for migrant workers Migrant workers in the Netherlands often face challenges when opening a Dutch bank account.
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HSBC Launches New Cross-Border Virtual Account Solution for Banks
Fintech Finance
OCTOBER 22, 2024
HSBC have launched a new cross border e-commerce payment solution for banks worldwide, enabling their merchant business customers trading on e-commerce sites to seamlessly receive EUR and GBP payments via their local bank account. Merchants can therefore access their funds more quickly and without additional cost.
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Science Card opens e-money account for socially-conscious spending
Finextra
AUGUST 15, 2024
UK fintech Science Card has opened an e-money account to further its goal of supporting scientific projects across health, climate change and tech through customer spending.
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Bybit launches Islamic account
Finextra
SEPTEMBER 24, 2024
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the launch of itsIslamic Account, making it the first global cryptocurrency exchange to offer such a service to Muslim traders worldwide.
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SmarterPay Moves to Close £700 Million Bank Account Takeover Fraud Loophole
Fintech Finance
OCTOBER 22, 2024
A banking loophole leaving account holders vulnerable to fraud can be closed by a groundbreaking development merging open banking with Direct Debit sign up. The highest profile victim of an account takeover was Jeremy Clarkson, who posted his bank details in The Sun newspaper, taunting would-be thieves to try and take his money.
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IATA and Outpayce help airlines accept account-to-account payments
Finextra
SEPTEMBER 5, 2024
Recent regulations in many markets make it possible for merchants to accept payment from consumers using direct, account-to-account transfers.
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YouTrip Adds Bank Transfers and Linked Account Top-Up Capabilities
Fintech News
JULY 22, 2024
Singapore-based multi-currency e-wallet YouTrip now allows users to transfer funds back to their bank accounts and link their accounts for top-ups. Users can now withdraw funds to their bank accounts using their mobile number or NRIC linked to their YouTrip account.
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Airbase Demonstrates the Transformational Power of AI with the Launch of Touchless Accounts Payable
Fintech Finance
SEPTEMBER 27, 2024
Airbas e, the leading procure-to-pay solution for mid-market and larger organizations, is excited to announce a new era in financial operations with its launch of AI-powered Touchless AP (accounts payable). Airbase’s AI-powered touchless AP system is built to handle every step of the accounts payable process with minimal human intervention.
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Monzo to launch bank account for children
Finextra
JULY 17, 2024
UK digital bank Monzo has unveiled a new account package for children between the ages of six and 15.
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Understanding The 3 Core Principles of Accounting
EBizCharge
SEPTEMBER 10, 2024
Accounting can often seem complex, yet at its core lies a set of fundamental principles that guide these financial operations. This article will explore the three golden rules of accounting and answer frequently asked questions about accounting practices. What is accounting? The 3 golden rules of accounting?
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Project Accounting: Methods And Core Concepts
EBizCharge
AUGUST 21, 2024
Thankfully, project accounting manages, analyzes, and reports costs and revenues associated with specific projects, enabling businesses to assess profitability and efficiency on a more refined level. This article will explore project accounting basics, benefits, and how to implement it into your business operations.
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GoCardless to Acquire Account-to-Account Payments Fintech Nuapay
Finovate
MARCH 18, 2024
The company launched to leverage open banking to power account-to-account payments. “How the world pays and gets paid is being transformed, with account-to-account payments and open banking playing the central role in that shift. Nuapay itself was originally founded in 2017 and is headquartered in Ireland.
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BofA launches account to help parents teach kids money lessons
Finextra
SEPTEMBER 26, 2024
Bank of America has launched an account designed to help parents teach their children how to manage money.
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Discover discloses SEC accounting criticism
Payments Dive
OCTOBER 17, 2024
The federal agency disagrees with the way the card network is allocating card misclassification charges, Discover said in its third-quarter earnings report.
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Unlocking the Power of AI in Accounting: Opportunities and Challenges
FloQast
JULY 22, 2024
For years, we’ve been talking about the talent crunch facing the accounting profession. Accountants leaving in droves, fewer majors at universities, and growing expectations have created a vicious cycle in which accountants are busier — and more stressed — than ever before.
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OCBC Bank to Offer Digital Bank Accounts for Children Aged 7-15 from October
Fintech News
SEPTEMBER 3, 2024
OCBC Bank is set to offer Generation Alpha—children born after 2009—their own digital bank accounts through the OCBC MyOwn Account , available from 20 October 2024. This first-of-its-kind account in Singapore allows children aged seven to 15 to manage their finances digitally via the OCBC Digital app, under parental supervision.
TotallyMoney launches current account comparison service
Finextra
OCTOBER 1, 2024
TotallyMoney has announced the launch of a new current account comparison service, to help its five million customers find the best bank for their own personal needs:
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Fintech funding: AI accounts for 30% of $24B Q2 investment
Bank Automation
SEPTEMBER 6, 2024
Funding for AI-focused fintechs more than doubled quarter over quarter to $24 billion in the second quarter, accounting for 30% of investments, according to Crunchbase. “AI
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Study: Accountants Understand Financial Transformation’s Importance, but Lack Cohesive Adoption Plans
FloQast
JUNE 26, 2024
Learn why 96% of CFOs are familiar with financial transformation, compared to fewer accountants, and how this affects organizational strategies. Explore the top priorities driving financial transformation for 39% of CFOs and 42% of accountants, and the challenges they face in implementation. CFOs are 2.2x
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TD chief says probes show need for better staff accountability
Bank Automation
SEPTEMBER 5, 2024
Toronto-Dominion Bank employees need to take more accountability and act with more urgency on risks, Chief Executive Officer Bharat Masrani said, after the Canadian bank was rocked by sweeping money-laundering investigations in its US business.
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How Transaction Data Analysis Promotes Trust and Accountability in Lending
Finezza
JUNE 23, 2024
As the lending industry becomes more competitive, transparency and accountability in decision-making are critical for a productive and long-term relationship between stakeholders. Customers want to make informed decisions and feel empowered when making a choice.
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BKN301 introduces new payment account
Finextra
SEPTEMBER 10, 2024
BKN301 Group, a London-based leading digital payments and Banking-as-a-Service (BaaS) provider with a focus in the EMEA region, unveiled its latest innovative payment solution, ‘301 Retail Account.’
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ANNA Stamps Out Fraud Attacks on Accounts With Biometric Re-authentication
The Fintech Times
OCTOBER 14, 2024
Business and tax app, ANNA has introduced biometric re-authentication procedures to stamp out cybercrime from taking place on illegally accessed accounts. If the match cannot be made, the account is suspended. The post ANNA Stamps Out Fraud Attacks on Accounts With Biometric Re-authentication appeared first on The Fintech Times.
OCBC and Singapore Police Freeze Over 300 Accounts, Seize S$1.8 Million
Fintech News
AUGUST 21, 2024
More than 300 suspicious bank accounts were frozen, and over S$1.8 The operation, conducted from May to August 2024, targeted accounts allegedly involved in facilitating scam-related activities, particularly those opened by foreigners. The post OCBC and Singapore Police Freeze Over 300 Accounts, Seize S$1.8
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Sunshine+Kittens to launch new kids account with Mastercard support
Finextra
OCTOBER 14, 2024
Set to launch later this year, Sunshine+Kittens, the new money app partners with MasterCard to offer a full-service account designed specifically for young people, with a focus on educating the next generation on financial literacy.
Disney to the fore in new OCBC kids account
Finextra
OCTOBER 21, 2024
OCBC has launched a parental-controlled bank account for children between the ages of seven and 15.
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Transforming Compliance: The Joint Chiropractic and FloQast’s Accounting Automation Platform
FloQast
SEPTEMBER 4, 2024
For The Joint Chiropractic (NASDAQ: JYNT), 2021 marked a pivotal year as they embarked on a journey to enhance their accounting operations by integrating FloQast into their processes. This integration enabled proactive risk management and enhanced accountability, ensuring that compliance was not only maintained but optimized.
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CIMB Singapore Users Report Account Balance Errors, Bank Assures System Safety
Fintech News
JULY 1, 2024
CIMB Singapore encountered a technical issue on 29 June 2024, affecting the reflection of certain transactions in the bank account balances of a group of customers. The bank released a statement saying to confirm that its core banking systems and customer accounts remain secure.
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