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Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, have released the latest report from the FPC Fraud Work Group, sponsored by Nasdaq Verafin: International Practices in Mitigating Faster Payments Fraud. payments industrys approach to mitigating fraud.
Payments-as-a-Service firm Volante Technologies has launched a new solution to offer financial institutions visibility and operational control over their payments business. “Managing through this requires banks to have instant insight into payment flows, operational performance, and the ability to quickly address issues.”
Volante Technologies , the global leader in Payments as a Service (PaaS), today announced the launch of Volante Payments Intelligence , a powerful new solution that offers financial institutions unparalleled visibility and operational control over their payments business.
It also explores how emerging technologies such as SoftPOS can help mitigate these obstacles, enabling broader acceptance of QR code-based faster payments across industries. This report provides valuable insights into the usability factors that must be addressed to enhance the consumer and merchant experience and accelerate adoption.
4.0 , was released on March 31, 2022, introducing enhanced security measures to address evolving cyber threats. This marks the severity of the data breaches exploited due to the soaring technology, and compliance negligence. Maintaining an information security policy: Establishing a documented security strategy.
Faster Payments Council (FPC), in collaboration with Volante Technologies , today released results from the 2025 Faster Payments Barometer, the latest in its series of comprehensive studies analyzing the adoption, trends, and perceptions surrounding faster payments in the U.S.
With a proven track record in transforming financial data collection across different sectors, Armalytix has developed a sophisticated platform that streamlines Source of Funds (SoF) verification, addressing long-standing challenges in legal financial processing. The partnership goes beyond simply gathering basic financial information.
Payment Service Providers must strengthen due diligence, monitoring, and collaboration with regulators to address these risks. Including structured data would help PSPs monitor and mitigate financial crime risks. Financial regulators are intensifying scrutiny, highlighting gaps that PSPs must urgently address. What’s next?
AI technologies are being integrated into core financial operations, particularly in the realm of payment services, where they promise to enhance security, stream stream transactions, and improve customer experiences. Generative AI also addresses training challenges for AI models.
Deep Dive Opinion Library Events Press Releases Topics Sign up Search Sign up Search Retail Banking Restaurants Regulations & Policy Risk Technology B2B An article from Dive Brief Visa, FIS boost value-added card services The companies say they aim to strengthen tech tools available for smaller financial institutions in issuing cards.
As blockchain technology advances, so do the threats it faces, making comprehensive and adaptive tools essential. Together with Elliptic, we can provide powerful tools to streamline compliance, mitigate risks, and stay ahead of emerging threats in the sector.” said James Smith, Co-founder of Elliptic.
Leveraging AI technology, Antom helps businesses ensure transaction security, streamlines foreign exchange risk management, lowers costs, and enhances operational efficiency through real-time payments and blockchain solutions. In Southeast Asia, Antom works closely with its subsidiary 2C2P, a full-suite global payments platform.
From safeguarding consumers against fraud to accelerating innovation in digital payments, regulators across the globe have introduced sweeping reforms aimed at addressing the challenges and opportunities of an increasingly digital and interconnected economy.
Unlike legacy systems that rely on outdated rule sets, Lynxs technology: Supports over 100 languages, addressing phonetic, cultural, and alphabetic variations. Lynx helps organisations leverage technology to mitigate risk while still delivering exceptional value to their customers.
It helps assess and mitigate security risks systematically by identifying vulnerabilities and implementing controls to address them before they materialize. Establish processes for ongoing monitoring, vulnerability scanning, and penetration testing to identify and address security vulnerabilities promptly. of PCI DSS.
For businesses, this might spell out the adoption of a new strategy, scheduling approach, or technology implementation. Technology implementation has been a popular course of action in recent years for many organizations. The following are a few practical considerations as waves of new technology continue coming our way.
At their core, compliance programs are tasked with identifying and mitigating risks that could cripple organizations, from financial irregularities to data breaches. One common pitfall is the reliance on manual processes or fragmented technology solutions for managing compliance efforts.
Hosted by The Payments Association , this premier event brings together over 6000 innovators, thought leaders, and stakeholders to discuss the trends, technologies, and challenges defining the future of payments. Technological Innovations: Exploring blockchain, real-time payments, and artificial intelligence applications. Why Attend?
Technology is always brimming with advancements, and it is more prominent in the financial sector. So, what exactly is DORA, how does it help mitigate risks and maintain resilience within the financial sector, and how can businesses effectively prepare for its requirements? What you need to know about DORA?
From a Press Release dated June 3, 2025, New York, New York ThetaRay , a global leader in cognitive AI compliance for financial crime, and Spayce , a next-generation cross-border payments platform, have announced a strategic partnership to address evolving financial crime threats and enhance the security of international payments.
Sionic , a leading provider of real-time, Pay-by-Bank Commerce (PbBC) services, today announced the launch of its comprehensive fraud detection and mitigation service built exclusively for real-time, bank-to-bank payments at checkouts, whether online, mobile or in-store.
To help organisations ensure they are not losing revenue and improving their efficiency, security and trust, The Centre for Financial, Innovation and Technology (CFIT) has published its blueprint for fighting economic crime through its Digital Company ID. In fact, according to ONS data, over 1.2
Data is critical to operations, and when used wisely, it can yield valuable insights that enhance revenue, reduce expenses, and mitigate risk. We address the “garbage in, garbage out” challenge by emphasising data integrity and intelligence, turning messy datasets into strategic assets. How do we do it?
Fratini Passi, with 30 years of expertise in financial technology, strategically steers CBI’s developments. In this context, CBI advocates for a flexible, modern, and transparent approach to effectively address evolving market demands.
Modern payment orchestration platforms (POPS) have evolved into critical infrastructure for digital businesses, delivering strategic capabilities that address performance, compliance, customer experience, and revenue optimisation. These tokens are useless if intercepted, significantly mitigating the risk of data breaches.
Payments Report 2024 As the global payments ecosystem undergoes a period of rapid transformation, the Payments Report 2024 serves as an essential resource for industry leaders navigating shifting trends, emerging technologies, and dynamic consumer behaviour.
A roundtable discussion among merchants addressing the evolving challenges of fraud in their operations across various sectors. Improving regulations, using technology for detection, and fostering industry-wide cooperation. Improving regulations, using technology for detection, and fostering industry-wide cooperation.
This milestone showcases our commitment to transparency, accountability, and trust in every AI solution we deliver, and positions us as a leader in responsible AI governance within the accounting technology sector. We identified areas needing improvement, prioritized them, and allocated resources to address gaps.
Emerging technologies such as artificial intelligence (AI) and blockchain are being adopted at a fast pace, with generative AI becoming a critical tool for financial institutions. However, these bilateral linkages are resource-intensive, a challenge thats being addressed through Project Nexus.
Around the same time, the Financial Action Task Force advised governments to seek to use modern technology to replace cash transfers with account-based transfers, implicitly suggesting that account-based transfers would significantly reduce financial crime without meaningful negative externalities.
The platform uniquely integrates advanced data analytics with regulatory insights, enabling companies to achieve seamless compliance and mitigate risk. It positions OpusDatum at the forefront of regulatory technology (RegTech) innovation, significantly aiding compliance officers and risk management teams.
Payment leaders must focus on fraud prevention, collaboration with tech and telecom sectors, and public education to mitigate future risks. While banks and payment providers are making strides in fraud detection and prevention, the report stresses the need for more robust collaboration with technology and telecom sectors.
Technology as a key defense Despite the escalating role of AI in identity fraud, many organizations see the technology as a vital tool in fighting back. Early adopters of advanced identity verification technologies are already seeing results.
“Implementing comprehensive risk management strategies and diversifying technological dependencies are essential steps to mitigate the impact of unforeseen incidents, thereby maintaining the stability and reliability of payment systems. ” Unattended retail and smart building technologies are gaining traction.
By setting a cap on the number of transactions a user can initiate within a specific period, velocity checks aid in reducing the incidence of fraud, thereby mitigating potential losses to merchants. For instance, the Address Verification Service, CVV verification, geolocation, proxy piercing, biometrics, and more.
By undermining regulated channels, de-risking paradoxically amplifies the very threats it aims to mitigate. Risk-based approach implementation: Banks should adopt a nuanced, risk-based approach, leveraging technology and data analytics to assess MSBs individually.
On 25 and 26 March 2025, PAY360 plans to bring together over 6000 attendees, including innovators, thought leaders, and stakeholders, to discuss emerging trends, technologies and challenges defining the future of payments. Technological innovations: Exploring blockchain, real-time payments, and artificial intelligence applications.
Addressing these challenges is crucial for AIs responsible and sustainable integration in the fintech landscape. Identifying fraud tactics using AI Nick Campbell, chief product officer of payments at Clearent by Xplor Technologies AI is a double-edged blade. Its vital that they maintain the integrity of their systems.
As the world grapples with the increasingly urgent need to address climate change, industries across the board are being called upon to play their part in mitigating its effects. “Insurance companies must step up their efforts to address this challenge. .”
These synthetic identities often use valid Social Security numbers belonging to children or individuals without credit histories, combined with fictitious names and addresses. Cross-referencing SSNs with names and addresses across databases can reveal mismatches indicating synthetic identities.
This technology, known as ‘Card-Present over Internet’ (CPoI), saw payment executives from around the world come to Wales to witness the first payment using it. ” Tackling false positives Fraud isn’t the only issue CPoI will address. Tap and pin has been the most popular method of payment for the last decade.
It addresses how evolving regulations shape the digital asset landscape, influencing innovation, compliance, and global competitiveness. Firms must proactively review their terms of service and dispute resolution mechanisms to mitigate potential liabilities. Why is it important? What’s next?
Technology is always brimming with advancements, and it is more prominent in the financial sector. So, what exactly is DORA, how does it help mitigate risks and maintain resilience within the financial sector, and how can businesses effectively prepare for its requirements? What you need to know about DORA?
In response, the National Institute of Standards and Technology (NIST) has initiated a global effort to standardise post-quantum cryptography (PQC), which includes identifying quantum-resistant cryptographic algorithms compatible with existing communication protocols to safeguard against CRQC threats.
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