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Indeed, a recent study from Juniper Research found that 46% of all payments fraud is targeted at the airline industry, highlighting the challenge faced by travel companies that must effectively prevent fraud without introducing additional friction to the payments experience.
s AI Revolution 13 June David Weinstein Co-founder and CEO at KayOS Why the Smartest Fintechs Are Scaling with AI Agents – Not Headcount 13 June James Richardson Global Head of Solutions at Bottomline Beyond the Firewall: Rethinking Payment DataSecurity 13 June Now Hiring All companies Welcome to Finextra.
PCI DSS: Safeguarding cardholder data If you handle card payments, PCI DSS compliance is non-negotiable. PCI DSS stands for Payment Card Industry DataSecurity Standard. It applies to any business that stores, processes, or transmits cardholder data. It keeps your customers’ card details safe and your systems strong.
To better understand the factors behind the decision to build or buy analytics, insightsoftware partnered with Hanover Research to survey IT, software development, and analytics professionals on why they make the embedded analytics choices they do.
Choosing the Right Bank : Not all banks are equipped to handle new payment processors, so it’s important to research and choose a bank that supports startups in the payments industry. Payment processors typically must apply for membership and meet the network’s standards, including security, compliance, and transaction volume criteria.
Theyre easy to integrate and set up, with the host taking care of datasecurity measures, including PCI compliance and fraud protection. Businesses using self-hosted gateways must handle datasecurity measures and comply with industry standards like PCI DSS. But with more control comes great responsibility.
s AI Revolution 13 June David Weinstein Co-founder and CEO at KayOS Why the Smartest Fintechs Are Scaling with AI Agents – Not Headcount 13 June James Richardson Global Head of Solutions at Bottomline Beyond the Firewall: Rethinking Payment DataSecurity 13 June Now Hiring All companies Welcome to Finextra.
Encryption and transfer of payment information The payment gateway that underpins your checkout page will now encrypt the customers payment details as stipulated by industry datasecurity regulations like PCI DSS (Payment Card Industry DataSecurity Standard) before transferring the data to your payment processor.
Recently conducted in-depth research on Africa - surprised by the strength of the VISA system there. It expresses the views and opinions of the author. 1169 Report 1 Like Share 1 1 Channels /payments Comments: (1) Viacheslav Kostin CEO at WislaCode Solutions 17 June 2025 Mastercard’s pivot is survival. Cards are just one rail now.
Vendor Dependence: Reliance on a third party for critical functions and datasecurity. Data Privacy Concerns: Sharing sensitive data with vendors may introduce privacy and compliance risks. Factor in time for research and problem-solving. The choice of platform and programming languages can affect development time.
Merchants should also consider gateways supported payment methods and compliance with security standards like Payment Card Industry DataSecurity Standards (PCI-DSS) since reliable security infrastructures and cost-friendly options can mitigate extra costs.
Research shows that 55% of customers will abandon their cart if they have to re-enter checkout information like credit card details, negatively affecting your business conversion rate. Research shows that customers will abandon their cart if online checkout time isnt limited to four minutes or less.
Also, conduct thorough research to avoid overpaying. On top of that, payment service providers have stringent security measures to protect sensitive transaction data. The high-level datasecurity strategies and protocols give you a secure environment to receive payments without compromising customer data.
A few highlights: JPMorgan launched a ChatGPT-like internal tool (“IndexGPT”) to assist wealth advisors with research. Morgan Stanley rolled out a GPT-4 powered assistant for its financial advisors (to query internal research databases). Meanwhile, data privacy and model transparency are top concerns in the UK (as they are elsewhere).
Legacy systems are limited in their ability to handle this type of fraud due to outdated architectures, fragmented data, and reliance on rigid rule-based detection. The same research found that not all FIs track whether the fraud is first-party or third-party. Tracking fraud is another major headache. Please read our Privacy Policy.
Smart research now prevents costly mistakes later. It collects payment data, secures sensitive information, and connects all parties needed to move money from your customer’s bank to yours. Unlike payment processors, which handle backend money transfers, payment gateways focus on securely capturing payment methods.
Overall, the payment gateway acts as a secure bridge that encrypts sensitive data, such as credit card details, to ensure the transaction is processed safely and efficiently. Once youve evaluated your options, you should research emerging trends in the payment space to ensure your payment gateway meets consumer demands.
As implementation progresses, financial institutions are grappling with datasecurity, core banking change, and ensuring all-channel implementation of VOP. However, it is not only the technical implementation challenges that institutions are facing. Speakers Anuradha Raman Product Owner, Pay.UK
POS systems come in a wide variety of shapes and sizes, so make sure you do your research and choose one with all of the right features for your unique business. PCI compliance refers to a business’s adherence to the Payment Card Industry DataSecurity Standard, a set of guidelines to safeguard sensitive consumer data.
Edge data centres offer a compelling solution by decentralising compute power, lowering latency and improving datasecurity. To support AI-driven fintech, edge data centres must ensure seamless power, cooling and cabling. billion in the first half of 2024 , defying a global downturn.
PCI compliance fee – This fee is usually charged by the payment processor or acquiring bank to ensure the business follows Payment Card Industry DataSecurity Standard ( PCI DSS ) requirements to protect customer data. Research different pricing models and choose a processor that offers what’s best for your business.
According to Federal Reserve research , credit and debit cards make up a significant share of payments—credit cards alone account for roughly 35% of transactions As such, many merchants have sought a solution that allows them to alleviate the burden of credit card processing fees.
Meanwhile, Tracy revealed that through industry partnerships, data sharing and using research to understand financial exclusion, Smart Data Foundry is continuing in its mission to tackle poverty and inequality through financial inclusion.
The Financial Analysis Solution will enable finance professionals to analyze markets, automate workflows, and make investment decisions using integrated data from platforms like Databricks and Snowflake while keeping user datasecure and private. Anthropic announced this week that it is bolstering the resume of its LLM Claude.
Make sure to evaluate your needs and do careful research to find the best POS device for your business. PCI compliance Payment security is a must-have feature. All POS systems should comply with all datasecurity standards set by the PCI (Payment Card Industry). Talk to sales What is a POS system?
This can concern payments, conditional payments (a DLT based version of a letter of credit) and the post-trade settlement of securities and derivates (including margin calls).
This research, conducted at the Oxford University’s Future of Finance and Technology Research Initiative in partnership with Open Banking Excellence (OBE), provides an in-depth analysis of the current status of open banking in the U.S., The entire ecosystem needs to continue educating consumers on financial datasecurity.
Fintech brands that prioritise datasecurity, ethical financial planning and transparent advisory tools will resonate most with millennial users. For Millennials, use professional endorsements, case studies, and well-researched content strengthens trust. They want information they can trust, not gimmicky financial hacks.
New research has revealed that almost one in four financial services firms are in direct violation of ECCTA regulations, leaving them seriously vulnerable to the new ‘failure to prevent fraud’ offence, while nearly a third of firms are failing to do their due diligence with clients.
In the future, automakers that leverage digital IDs must continue prioritising datasecurity to discourage hacking and keep systems that operate across different brands compatible. You can find more insights from our research expert, Oliver Jackson, here. Curious to know more about how digital IDs are impacting your industry?
On the other hand, the research also revealed that the platform falls short when it comes to: ➡️ 1. ABBYY FlexiCapture ABBYY FlexiCapture ABBYY FlexiCapture is a powerful intelligent document processing platform that automates the capture, classification, and data extraction from a wide variety of document types and formats.
The new PXP POS solution provides high-quality security without compromise, processing datasecurely, and allowing merchants to focus on growing their business without worrying about payment protection. Merchants can start accepting payments in minutes, with no need for technical integration or extra hardware.
Conduct comprehensive market research. Migration to the cloud environment has specific compliance requirements, including scalability and datasecurity services. It’s also important to identify upskilling or cross-skilling needs to maintain appropriate momentum. Customer needs will continue to evolve.
Company officials said the new platform offers brokers a choice to adopt Open Banking as a safer and more efficient means of accessing client data. They added that traditional data-sharing methods are becoming less viable due to increasing industry focus on datasecurity.
Tool Main Feature Best Suited For G2 Rating 1 Sensible Template or LLM-based data extraction Developers, technical teams 4.0 3 V7 Advanced models for image analysis AI researchers, data scientists 4.6 6 Docparser Template based data extraction from PDFs Businesses needing structured data from documents 4.6
s AI Revolution 13 June David Weinstein Co-founder and CEO at KayOS Why the Smartest Fintechs Are Scaling with AI Agents – Not Headcount 13 June James Richardson Global Head of Solutions at Bottomline Beyond the Firewall: Rethinking Payment DataSecurity 13 June Now Hiring All companies Welcome to Finextra.
Compliance and security: Built with regulatory requirements in mind, ensuring datasecurity and accuracy for sensitive financial workflows. Seamless integrations: Works with major lending, banking, and fintech systems, streamlining end-to-end processes. How does Ocrolus compare to Rossum? Parameter Ocrolus Rossum Ease of Use 8.2
This article delves into the multifaceted reasons behind this phenomenon, exploring why organizations are choosing to keep their AI contained within the familiar confines of their data silos. The Security Fortress: Protecting Data in a Vulnerable World At the heart of this reluctance lies a deep-seated concern for datasecurity and privacy.
s AI Revolution 13 June David Weinstein Co-founder and CEO at KayOS Why the Smartest Fintechs Are Scaling with AI Agents – Not Headcount 13 June James Richardson Global Head of Solutions at Bottomline Beyond the Firewall: Rethinking Payment DataSecurity 13 June Now Hiring All companies Welcome to Finextra.
Data is the driving force behind businesses in this digital age. From customer information and financial records to trade secrets and proprietary research, these digital assets are invaluable. As cyber threats evolve, safeguarding your organization’s data has become an utmost priority.
The emergence of a high-speed quantum internet, then, would be a way to secure the actual transmission of data, but at speeds that approach those used today via traditional methods, rendered in gigabits per second. Along the flow (you remember the concept of ones and zeros), data can be intercepted.
The Future of DataSecurity. Cybersecurity startups focused on data are gaining visibility as threats increase. Look for The Future of DataSecurity in the Collections tab. Track the Future of DataSecurity. The Future of DataSecurity.
Researchers at cybersecurity analytics company RedSeal released a survey this month that explores why businesses aren’t adequately approaching their security strategies, and it comes in the context of new data from IBM Security that finds U.S. companies’ cybersecurity measures.
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