Finextra
MAY 21, 2024
Swift is working with 25 leading cash management banks and 20 corporates to develop a white labelled transaction tracking service for ISO 20022 messages across the entire payment chain.
Fintech News
MAY 21, 2024
As the financial landscape undergoes a digital revolution, institutional investors are increasingly turning their attention to digital assets such as cryptocurrencies and Central Bank Digital Currencies (CBDCs). A recent report by SBI Digital Asset Holdings (SBI DAH) sheds light on the growing interest and adoption of these innovative financial instruments among institutional investors.
Finextra
MAY 21, 2024
German regulator BaFin has fined N26 €9.2 million for anti-money laundering failures but could be preparing to lift a cap on the number of new customers the digital bank can take on.
Fintech News
MAY 21, 2024
Interest rates for savings accounts have become a prominent topic in recent years, driven by changing central bank policies and increasing inflation. In Singapore, banks have adjusted their offerings to attract customers by offering more competitive interest rates. Several savings accounts including the Standard Chartered Bonus$aver Account and the OCBC 360 Account have increased their interest rates, with some reaching as high as 7.68% per annum (p.a.).
Speaker: Jason Cottrell and Gireesh Sahukar
Retailers know the clock is ticking–legacy SAP Commerce support ends in 2026. Legacy platforms are becoming a liability burdened by complexity, rigidity, and mounting operational costs. But modernization isn’t just about swapping out systems, it’s about preparing for a future shaped by real-time interactions, AI powered buying assistants, and flexible commerce architecture.
Finextra
MAY 21, 2024
Singapore-based fiat-crypto payments firm Alchemy Pay has unveiled a Web3 digital banking platform for enterprises.
Fintech News
MAY 21, 2024
The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) are advancing their cooperation in green and transition finance. This announcement follows the 2nd China-Singapore Green Finance Taskforce (GFTF) meeting held on 20 May 2024. The GFTF, established in 2023, focuses on scaling up green and transition financing flows between Singapore, China, and the region.
Payments Space brings together the best content for payment processing professionals from the widest variety of industry thought leaders.
Fintech News
MAY 21, 2024
Thailand’s KASIKORNBANK (KBank) has announced the launch of its new Tap-and-Pay service through Google Pay, allowing customers to make payments using their smartphones. This service aims to provide easy, fast, and card-free transactions worldwide. Natthapol Luepromchai, Executive Vice President of KBank, and Jenny Cheng, Vice President and General Manager of Google Wallet, introduced the integration of KBank Visa Credit Card with Google Pay.
Finextra
MAY 21, 2024
Stripe is strengthening its position in the UK, opening a flagship London office in the heart of the City, and launching its first Open-Banking-powered payment method and new financing options for small businesses.
Fintech News
MAY 21, 2024
Swift has announced a major upgrade aimed at improving the cross-border payment experience for corporate customers. The financial messaging network will extend ISO 20022 across the entire payment chain and provide banks with ready-to-use tracking services. By standardising payments end-to-end with ISO 20022, Swift enables financial institutions to capture detailed data from the outset.
Finextra
MAY 21, 2024
Innovative AI models should be trained to respect a ‘constitution’ or a set of regulatory rules that would reduce the risk of harmful behaviour, argues a senior Bank of England policy maker.
Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting
Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical
Fintech News
MAY 21, 2024
Alchemy Pay, a provider of fiat-crypto payment solutions, is preparing to launch its Web 3.0 digital bank. This new initiative aims to provide global Web 3.0 businesses with a compliant and efficient way to manage multi-fiat accounts, streamline cash flows, and facilitate conversions between fiat and cryptocurrency. Inspired by Ripple’s cross-border payment model, the Web 3.0 digital bank addresses significant challenges in managing cross-border payments and fiat-crypto transactions.
Finextra
MAY 21, 2024
Sectors more exposed to AI are experiencing almost five times (4.8x) higher growth in labour productivity, according to PwC's inaugural 2024 Global AI Jobs Barometer, published today.
Fintech News
MAY 21, 2024
Singapore’s Anti-Scam Centre (ASC) and DBS Bank have successfully recovered more than S$170,000 lost in a technical support scam. The victim, a 70-year-old woman, was using her computer when she saw a pop-up alert prompting her to call a “Microsoft” hotline number due to a supposed hack. She called the number and spoke with a scammer posing as a Microsoft support agent.
Fintech Review
MAY 21, 2024
Digital payments are at the forefront of transformation. Fintech, by nature a blend of finance and technology, is revolutionising how transactions are conducted worldwide. From tapping a phone at a checkout to transferring money across borders without hefty fees, the convenience and efficiency of digital payments are unmatched. There has been significant advancements in digital payment solutions, such as mobile wallets, peer-to-peer payment platforms, and cryptocurrencies.
Speaker: Benjamin Woll, Tiffany Spizzo, and Jaime Santos Alcón
Enterprise commerce is at an inflection point. Rigid, monolithic platforms slow brands down, but a full replatforming is disruptive and costly. Modular architecture offers a flexible, scalable alternative - allowing enterprise brands to modernize without ripping and replacing their entire stack. Learn how a composable approach helps modernize commerce stacks while maintaining control over critical systems.
Payments Dive
MAY 21, 2024
“Whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations,” CFPB Director Rohit Chopra said.
The Fintech Times
MAY 21, 2024
Mastercard and Visa dominate the UK card payment market, lacking effective competition and leading to substantial fee hikes, according to a recent interim report by the Payment Systems Regulator (PSR). The report reveals that over the past five years, scheme and processing fees have surged by more than 30 per cent in real terms, without corresponding improvements in service quality.
Payments Dive
MAY 21, 2024
The fledgling U.S. instant payments system can learn from real-time systems that have flourished in Brazil and India using QR codes and broad missions, say industry professionals.
The Payments Association
MAY 21, 2024
The United Kingdom is at the forefront of the open banking revolution, initiated by the 2017 implementation of the Payment Services Regulations (PSRs) and PSD2. This legislation compelled major UK banks to open their data to third parties via secure APIs, fostering a competitive financial environment. Overseen by the Financial Conduct Authority (FCA), the framework is maintained by the Open Banking Implementation Entity (OBIE), which ensures easy and secure access to financial accounts.
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Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?
Stax
MAY 21, 2024
The consistent software updates and upgrades have made it easier than ever to run businesses. We’re seeing a similar trend in the legal industry, where law firms rely on case management systems to run their businesses. With management systems’ continual growth and improvement, it’s no wonder software sales are at an all-time high. If you’re selling law practice management systems to law firms, you’re definitely not alone.
The Payments Association
MAY 21, 2024
Unlimit, the global fintech company, announced a partnership with DEUNA, the ultimate unified platform for growing and simplifying commerce, aimed at enhancing cross-border payments for enterprises in Latam and others regions.
Finextra
MAY 21, 2024
Join FinextraTV live at NextGen Nordics 2024 with Patrik Havander, Head of Visa B2B Connect Europe, as we delve into the landscape of B2B cross-border payments. Discover how banks are adapting to maintain B2B payment volumes amidst declining retail payments, explore emerging technologies shaping the future of cross-border transactions, and learn what steps banks can take today to stay ahead in the ever-evolving payments landscape.
The Payments Association
MAY 21, 2024
The FCA's final quarterly authorisations metrics for 2023-2024 reveal high efficiency and effectiveness in meeting statutory targets, though some areas require better application quality.
Speaker: Becky Parisotto and John Vurdelja
Fulfillment is no longer just about getting products from point A to point B – it's about crafting seamless, scalable, customer first experiences. Flexible fulfillment strategies are more important than ever for those aiming to stay ahead and build resilience as retail enters a new era in 2025. Learn how to optimize fulfillment processes, tackle complex, multi-vendor orders, and create seamless customer experiences – from white-glove delivery for high-value items to quick-ship solutions for ever
Bank Automation
MAY 21, 2024
Financial institutions are looking to AI to streamline daily tasks.
The Payments Association
MAY 21, 2024
Discover how programmable money could revolutionise finance with automation and efficiency, while exploring the ethical dilemmas it poses around privacy and potential misuse Read more
Bank Automation
MAY 21, 2024
JPMorgan Chase is reaping rewards in know-your-customer operations from deployment of AI. The bank processed 155,000 know-your-customer (KYC) files in 2022, using 3,000 people to accomplish the task. “By the end of next year, we will process 230,000 files with 20% less of the people.
Payments Dive
MAY 21, 2024
Mastercard has set its sights on expanding in China, Japan and elsewhere, Michael Miebach said in spelling out the company’s worldview. Last year, the company drew two-thirds of revenue from outside North America.
Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms
In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.
Finextra
MAY 21, 2024
The payment landscape is unpredictable, but technology allows businesses to constantly improve the
The Fintech Times
MAY 21, 2024
eToro , the trading and investing platform, has partnered with Arabesque AI , an investment advisory and technology company, to launch a new Sharia-compliant portfolio for users across the Middle East. ShariaAl-Growth, the new eToro portfolio, leverages technology from Arabesque AI, as well as its bank of environmental, social, and governance ( ESG ) data, to identify high-growth US stocks that comply with Sharia principles. “Since our launch in the UAE six months ago, our goal has been to
Finextra
MAY 21, 2024
The UK's Payment System Regulator (PSR) has stepped back from imposing financial penalties on Visa and Mastercard scheme and processing fees, despite evidence that the firms are running an effective duopoly in the supply of services to merchants.
The Fintech Times
MAY 21, 2024
More than a third of Gen Z in the US (22.9 million people) are classed as ‘digital ghosts’, lacking sufficient financial records to pass identity verification needed for accessing financial and government services, according to a new report. Socure, a provider of artificial intelligence for digital identity verification, sanction screening and fraud prevention, reveals that 35 per cent of Gen Z in the US and nearly a third of legal immigrants are digital ghosts.
Speaker: Jennifer Wright and Nick Barron
2025 is right around the corner, and with it comes a new wave of consumer expectations, competitive pressures, and operational challenges. Success lies in finding the balance between operational flexibility and creating experiences that keep customers coming back. The future of retail belongs to those who can stay ahead of shifting customer preferences and marketing trends. 🔮 In this session, we’ll dive deep into what it takes to keep customers engaged and your operations nimble, no matt
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