Mon.Jul 08, 2024

article thumbnail

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.

article thumbnail

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.

Payments 134
article thumbnail

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.

article thumbnail

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.

article thumbnail

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.

article thumbnail

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
article thumbnail

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.

More Trending

article thumbnail

EdfaPay Secures License to Operate in Morocco

Fintech Finance

EdfaPay , a leading innovator in fintech services, is proud to announce expansion into Morocco after receiving an official license to operate in the country. This significant achievement aligns with EdfaPay’s vision to empower the global financial landscape. With this new license, EdfaPay is set to bring its cutting-edge financial solutions, including Soft POS, Payment Gateway, to merchants and customers across Morocco, with a commitment to leveraging expertise and sustainable technology w

article thumbnail

M-DAQ Global’s Doubled Losses Overshadow Revenue Gains in 2023

Fintech News

M-DAQ Global, a fintech firm supported by Affinity Equity Partners and China’s Ant Group, saw its consolidated net loss for the financial year ending 31 December 2023, rise to S$26.5 million (approximately US$19.7 million), as reported by DealStreetAsia. This is more than double the S$13.1 million loss reported in the previous year, according to recent regulatory filings.

article thumbnail

PayerMax Strengthens Commitment to Saudi Arabia with Inauguration of Regional Headquarters

Fintech Finance

PayerMax , a leading global payment solutions provider, is proud to announce its decision to expand into the Kingdom of Saudi Arabia (KSA) and its noteworthy commitment to the KSA by establishing its regional headquarters in Riyadh. PayerMax participated in the Regional Headquarters Program (RHQ) established by the Ministry of Investment and obtained a RHQ licence this month.

article thumbnail

Zheng Yu Dong Steps Down as MariBank CEO, Stays on as Advisor

Fintech News

Zheng Yu Dong announced that he will be stepping down as CEO of MariBank , a digital bank licensed by the Monetary Authority of Singapore (MAS) and a wholly-owned subsidiary of Sea Group, after a five-year tenure. According to a LinkedIn post , Zheng will continue to serve as an advisor to both MariBank and Sea. Sea Group has secured two digital banking licenses: one in Singapore to establish MariBank and another in Malaysia for the yet-to-be-launched YTL-Sea Digital Bank Project.

article thumbnail

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.

article thumbnail

Africhange Launches in the UK, Enabling Low-Cost Remittance and Discounted Exchange Rates for Students

Fintech Finance

Africhange, a global remittance services provider, has launched its operations in the UK, offering more efficient, cost-effective and reliable solutions for individuals to send and receive money internationally. Starting with the UK-Nigeria corridor and expanding to include Ghana and Kenya before the end of the year, Africhange’s new Authorised Payment Institution License will underpin the delivery of a range of payment solutions, including remittance services, for UK users.

article thumbnail

CFPB keeps scrutiny on medical cards

Payments Dive

The Consumer Financial Protection Bureau has found some patients felt pressured by healthcare providers to use medical credit cards, according to an update on the federal agency’s efforts to protect consumers.

CFPB 78
article thumbnail

OCBC Offers Financial Wellness Programme for Singapore Property Agents

Fintech News

OCBC has unveiled OCBC PartnerCare , a new financial and personal wellness programme tailored for over 35,000 property agents in Singapore. This initiative aims to bolster OCBC ’s network of property agents, who significantly contribute to its home loans business. Valued at up to S$5,000 annually per agent, the programme offers preferential home loan rates, discounts on Great Eastern insurance plans, bonus interest on referral fees credited to an OCBC 360 account, and access to wellness events.

article thumbnail

Discover to settle card class actions for $1.2B

Payments Dive

The card company has warned it could face an additional financial toll related to the misclassification legal matter, in which it overcharged merchants for years.

Legal 78
article thumbnail

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.

article thumbnail

Banqe de France and HKMA kick off cross-border CBDC project

Finextra

The Hong Kong Monetary Authority is to become the first central banking institution outside of the EU to participate in the European Central Bank's digital euro exploratory project.

article thumbnail

Karl Westvig to Lead TymeBank as CEO Starting October

Fintech News

South African digital bank TymeBank has appointed Karl Westvig as its new CEO, effective 1 October 2024. Coenraad Jonker, the current CEO, will focus on his role as Executive Chairman of Tyme Group, overseeing the growth of the multi-country digital banking group. Westvig, presently TymeBank’s Chief Executive for Retail and Business Banking, brings extensive leadership experience in lending and fintech.

Returns 76
article thumbnail

What is eCommerce Fraud?

Fi911

The rise of online shopping has made eCommerce fraud an increasingly prevalent and sophisticated threat, necessitating advanced security measures to protect both merchants and customers. But, what exactly are those threats? What, exactly, are we talking about when we talk about “eCommerce fraud?” eCommerce fraud refers to deceptive activities that occur during online transactions.

article thumbnail

Icon Solutions Welcomes NatWest Executives to its Board of Directors, Accelerating the Expansion of IPF

Fintech Finance

Icon Solutions today announces it has strengthened and expanded its strategic partnership with NatWest with the appointment of Ian Povey, CIO Payments Technology, and Lee McNabb, Head of Payments Strategy and Partnerships, as Board Observers. Ian is an experienced and internationally recognised payments product and technology executive. He oversees the modernisation of NatWest’s payments technology estate, with responsibility for the run, change and continuous availability of payments as a syste

article thumbnail

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.

article thumbnail

Are Brits sleepwalking into a debt disaster?

Finextra

Richard Kalas, Client Solutions Director, Retail Banking, GFT, reflects on the latest findings from GFT’s Banking Disruption Index, which highlights the mounting debt that UK bank customers are accumulating – often due to a lack of awareness of interest rates and overdraft fees. In addition, consumers highlight the lack of support from their bank to help them in these financially difficult times, and show a lack of awareness of tools that are being made available by their bank to help them with

Finance 64
article thumbnail

Ally launches AI innovation challenge

Bank Automation

Ally Financial will launch a generative AI innovation challenge for startups on July 9, focusing on developing tech solutions for its customers and staff.

AI 69
article thumbnail

Africhange goes live in the UK

Finextra

Africhange, a global remittance services provider, has launched its operations in the UK, offering more efficient, cost-effective and reliable solutions for individuals to send and receive money internationally.

article thumbnail

Save Now, Buy Later Fintech, Compound, Launches to Help Consumers Save for Purchases

The Fintech Times

Compound , a new save now, buy later fintech, is officially set for launch in the Middle East, with an aim to help customers save for a purchase with their favourite brands and get rewarded for doing so. Compound partners with brands to provide a unique savings-led shopping experience. Customers can proactively save with their preferred brands in advance, such as saving for a forthcoming vacation with their favourite airline.

FinTech 59
article thumbnail

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.

article thumbnail

ABA review into dismal open banking take up calls for collective rethink

Finextra

The Australian Bankers' Assocation says that the country's opt-in open finance programme has failed to reach its potential four years after launch.

Finance 64
article thumbnail

Australia’s CDR Regime Must Ensure Competition is Improved Before SMEs Commit Resources

The Fintech Times

We’ve heard many times before data is the most valuable thing organisations can obtain, and consumers can giveaway. As a result, the Australian Banking Association (ABA) introduced the Consumer Data Right (CDR) regime in July 2020 to give consumers greater control over their data. Reviewing the regime four years later, ABA commissioned Accenture to unveil how Australians are using it.

article thumbnail

NatWest takes digital ID to the Nordics

Finextra

NatWest is to make its digital identity service for document signing available to customers in the Nordics via Adone Acrobat sign.

72
article thumbnail

AutoRek Teams Up with JP Morgan Payments

Finovate

Automated reconciliation software company AutoRek has announced a partnership with JP Morgan Payments. The partnership will help insurance companies better manage financial data flows from banking sources. AutoRek made its Finovate debut at FinovateEurope 2023 in London. Automated reconciliation software provider AutoRek has teamed up with JP Morgan Payments to enhance premium processing for insurance companies.

article thumbnail

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.

article thumbnail

What to include on your Payments Blueprint for Success

Finextra

At EBAday 2024, Sulabh Agarwal, Global Payments Lead, Accenture, discusses how banks are approaching payments transformation and why the traditional model may not work with the number of initiatives coming to the fore soon. With regulatory initiatives like SEPA Inst, ISO 20022 and a long list of others that include the EPI and digital Euro, financial institutions must remain focused and consolidate new products that are yet to be launched, ensure they are competing against newcomers and justifyi

article thumbnail

Fintech Rundown: A Rapid Review of Weekly News

Finovate

Partnerships in digital banking, identity management, and payments lead off the fintech news headlines as July begins in earnest. Be sure to check back all week long for updates and fresh announcements on the latest industry happenings. Payments Yuno forges strategic partnership with BBVA Group digital payments company, Openpay. Lending Ireland’s CreditLogic raises $3.8 million (EUR 3.5 million) from Riverside Acceleration Capital (RAC).

FinTech 59
article thumbnail

Why without technology, there would be no banks

Finextra

Join FinextraTV at the Temenos Community Forum 2024 as Maurya Murphy, Senior Product Director, Corporate Banking, Temenos and Benjamin Wey, Senior Advisor, Hamilton Reserve Bank chat through how technology can be used to streamline operations and grow and develop as a business. For the largest global bank headquartered in the Caribbean, technology is essential for resolving problems that all traditional banks face, such as lack of communication and lack of customer support.

article thumbnail

Measuring what matters in payment centralization

Nomentia

Best KPIs to drive payment centralization success Many describe today's business landscape as fast-paced and demanding. As it stands, effective cash management is pivotal for any treasury function aiming to align with strategic business goals. At the heart of cash management lies the crucial element of payments —whether they are decentralized and fragmented across various systems or streamlined through centralization.

article thumbnail

Navigating the Future: Generative AI, Application Analytics, and Data

Generative AI is upending the way product developers & end-users alike are interacting with data. Despite the potential of AI, many are left with questions about the future of product development: How will AI impact my business and contribute to its success? What can product managers and developers expect in the future with the widespread adoption of AI?