August, 2024

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Credit cards users struggle with inflation

Payments Dive

JD Power’s annual credit card survey found that more than half of U.S. credit card users don’t pay their balances in full every month, and less than half are considered financially healthy.

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Sneak Peek: 2024 Community Meeting Keynote Speakers

PCI Security Standards

Don’t miss out on an extraordinary opportunity to learn from the most influential minds in payment security. Join us at a PCI SSC Community Meeting to collaborate and stay informed on the newest advancements in global payments security and PCI Security Standards. As promised, our 2024 keynote speakers, Tom Koulopoulos and Dr. Bruce McCabe , will deliver captivating and enlightening sessions, as they are distinguished experts in the field.

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Nacha Welcomes Stronghold as a Preferred Partner

NACHA

RESTON, Virginia, Aug. 8, 2024 – Today, Nacha announced Stronghold as a Preferred Partner for ACH Experience and ISO 20022. Stronghold joins a select group of innovators that Nacha recognizes for offering products and services that align with Nacha's core strategies to advance the ACH Network.

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Project Ensemble: Hong Kong Embraces Asset Tokenisation With New Sandbox

The Fintech Times

The concept of tokenisation has several meanings and promises to drive a seismic shift in global finance in a number of ways. Looking to harness this potential, the Hong Kong Monetary Authority (HKMA) launched ‘Project Ensemble’ in March earlier this year, a wholesale central bank digital currency (wCBDC) project, to support the development of the tokenisation market in the region.

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How To Drive Retail Results With Integrated Tech And UX Design

Speaker: Jennifer Wright and Nick Barron

Navigating the complexities of e-commerce requires more than just the right technology - It demands a holistic strategy that aligns platform capabilities with customer- centric design and marketing. This webinar will provide a roadmap for building a robust e-commerce strategy, guiding you through key decisions from platform selection to creating user experiences that convert, and leverage digital marketing to reach and retail customers.

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Workbench: A new way to debug, monitor, and grow your Stripe integration

Stripe

We’ve been testing a suite of new developer tools over the last year with thousands of users, including Slack and Notion. Today, we’re announcing that the first is available to all new users by default: Stripe Workbench, our new home for developers within the Dashboard that helps you debug, monitor, and grow your Stripe integration.

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Apple to open up NFC payments access to third parties

Finextra

Apple is opening up the NFC chip technology that enables iPhone users to make contactless payments to third-party providers in a host of countries - including the US and UK - but will charge associated fees.

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Eight Startups Join XDC Network Accelerator Programme Powered by Tenity

Fintech News

XDC Network has selected eight startups to join its first-ever accelerator programme, powered by Tenity , an innovation ecosystem specialising in early-stage fintech startups. The XDC Accelerator Programme is a significant step for the emerging blockchain platform, which is known for its focus on real-world asset tokenisation and trade finance. The selected startups will gain access to business and technical mentorship, helping them refine their business value propositions and develop a working

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Gen AI reduces agent response time by 70% at Discover

Bank Automation

Discover Financial Services is tapping generative AI to speed up call center agent response and strengthen client experience. Using Google Cloud’s AI platform, Vertex AI, Discover has reduced response times for call center agents by 70%, Szabolcs Paldy, senior vice president of enterprise operations at Discover, told Bank Automation News.

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Collaboration Over Competition: The Future of Real Estate and Proptech Partnerships

The Fintech Times

The relationship between established real estate firms and proptech startups is shifting from competition to collaboration. What once appeared as a clash between tradition and innovation is now evolving into a partnership where each side leverages the strengths of the other. Established firms bring deep industry experience and extensive networks, while startups introduce cutting-edge technology and fresh perspectives.

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Banking Circle Launches the First Bank-Backed MiCA-Compliant Stablecoin, EURI

Fintech Finance

Banking Circle S.A., the innovative, tech-driven payments bank, announces the launch of EURI, a bank-backed stablecoin, compliant with the Markets in Crypto Assets Regulation (MiCA). The launch of EURI follows the implementation of the first phase of the MiCA regulation which applies to asset referenced tokens and e-money tokens from the 30 June 2024.

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How to Select the Perfect Payments Partner: 7 Keys for Sustainable Growth

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

Join Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms for an informational webinar about how to select the ideal payments provider for your platform! This session highlights the 7 key criteria for assessing payments partners and maximizing the value of your investment. From evaluating technology and business development programs to understanding support and compliance, this webinar will equip you with a comprehensive evaluation framework and strategy for

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Swiss banks turn on instant payments system

Finextra

Consumers in Switzerland can now send and receive payments in seconds following the market launch of instant payments across the banking industry.

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How embedded payments are changing the way we pay

Payments Dive

As payments technology advances, more companies are embedding the payments process in websites and apps. Here’s a primer on how this trend is advancing and changing the payments arena.

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Thailand’s 10,000-Baht Digital Wallet Handout to Begin in September

Fintech News

Thailand’s former Prime Minister Thaksin Shinawatra announced that the 10,000-baht handout under the digital wallet scheme will commence in September, with a focus on vulnerable groups in society, as reported by The Nation. Thaksin, speaking at a Nation Group event, highlighted that 13.5 million people in vulnerable categories, along with one million disabled citizens, would be the first recipients of the 10,000-baht handout.

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Podcast: JPM connects to French payments network Cartes Bancaires

Bank Automation

J.P. Morgan is joining French payments network Cartes Bancaires, Mike Lozanoff, managing director and global head of merchant services at J.P. Morgan, tells Bank Automation News on this episode of “The Buzz” podcast. The bank is tapping cloud-based Renovite to build the connection to the network, Lozanoff says.

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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.

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Mongolia’s Fintech Future: Building a Digital Economy in a Land of Contrasts

The Fintech Times

Mongolia, a country of striking contrasts, presents a unique fintech landscape. Despite being one of the world’s largest nations by land area, it is also one of the least densely populated, with vast distances separating its people and economic hubs. This distinctive geography shapes the challenges and opportunities within Mongolia’s evolving fintech sector.

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Fintech Rundown: A Rapid Review of Weekly News

Finovate

As summer draws to a close, there may be a big acquisition on the horizon in the fraud and financial crime prevention space. Be sure to check in with Finovate’s Fintech Rundown all week long for the latest in fintech news. Fraud and financial crime prevention Is Visa looking to acquire fraud fighting platform Featurespace ? Financial wellness Canadian fintech Koho launches Rent Reporting to help renters improve their credit.

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Australia moves one step closer to roll out of Confirmation of Payee

Finextra

Australian Payments Plus (AP+) and the Australian Banking Association (ABA) have completed the design specs for a new national Confirmation of Payee service, providing another layer of protection against scammers.

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Surcharging doesn’t have to be a bad word

Payments Dive

“The time has come to rethink surcharging not as a necessary evil but as a strategic advantage that can benefit both businesses and customers,” writes a Billtrust executive.

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Top Strategies to Future-Proof & Sustain Your 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.

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UOB to Move Part of its Operations to Malaysia as Part of Long-Term Profitability Plan

Fintech News

UOB is set to relocate certain back and middle-office operations to Malaysia, primarily in Kuala Lumpur, according to The Business Times. Lee Wai Fai This strategic move aims to maintain the bank’s cost-to-income ratio at 40% by 2026, according to Group Chief Financial Officer Lee Wai Fai. This relocation, coupled with anticipated growth across ASEAN and a greater focus on non-interest income, is expected to help UOB sustain its return on equity (ROE) at approximately 14% by 2026.

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NCR Atleos Launches New LibertyX Bitcoin to Cash Feature Bridging the Digital to Physical Across the United States

Fintech Finance

NCR Atleos Corporation (NYSE: NATL) (“Atleos”) today announced the launch of a new LibertyX Bitcoin Cashout feature whereby enrolled LibertyX customers can sell bitcoin, picking up their cash conveniently at ATMs across the United States at thousands of leading merchant locations with a transaction point within five miles of more than three in four Americans once rolled out across all participating ATMs.

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Taishin Bank and OneDegree Global Team Up for AI Compliance and Cybersecurity Initiative

The Fintech Times

Taishin Bank has partnered with OneDegree Global , a cybersecurity and risk management solutions company, to test and validate its artificial intelligence system, positioning itself as the first in Taiwan’s financial sector to establish a responsible AI framework. This initiative is timely as global attention on AI compliance intensifies, with new regulations in Asia as well as Europe highlighting the need for secure and ethical practices in the financial industry.

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Themis and Sei Leverage AI to Enhance Marketing Compliance for Banks

Finovate

Governance, risk, and compliance platform Themis has partnered with regulatory compliance company Sei. The partnership integrates Sei’s marketing compliance engine into Themis’ platform to enable financial institutions to maintain marketing compliance across all channels. Themis won Best of Show in its Finovate debut at FinovateFall 2022.

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Secrets of a Successful Sale: Optimizing Your Checkout Process

Speaker: David Nisbet, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

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New US-Mexico payments pathway will tap rural community banks

Finextra

A new cross-border payments infrastructure will enable remittances between the US and Mexico via 140 community banks in rural areas.

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Consumers tap credit cards, loans to manage inflation: Fed report

Payments Dive

Gen Z and millennials were the age groups most likely to use loans and credit cards to respond to higher prices, a Federal Reserve research report said.

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Championing Swift Connectivity for Private Banks and Asset Managers in APAC

Fintech News

In the dynamic financial landscape of the Asia-Pacific (APAC) region, private banks, asset managers, fund managers, and other capital market participants are increasingly recognising the pivotal role of Swift connectivity. This connectivity is not just a technical necessity but a strategic imperative for seamless settlement, reconciliation and post-trade operations, enhanced transparency, and operational efficiency.

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CloudPay, a payroll services provider, lands $120M in new funding

TechCrunch Fintech

In 1996, two companies, Patersons HR and Payroll Solutions, formed a venture called CloudPay to provide payroll and payments services to enterprise clients. CloudPay grew quietly over the next several decades, adding workflow automation features to maintain pace with upstart rivals. It’s still growing, CFO Andy Thomson assures TechCrunch. Thomson claims that CloudPay is handling […] © 2024 TechCrunch.

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Loyalty 101: How To Turn Browsers Into Buyers For Lasting Engagement

Speaker: Shaunna Bruton, Danielle Wyllie, and Kailey Holmes

Say goodbye to one-size-fits-all retail, and say hello to experiences that keep your customers coming back for more! Customer loyalty isn’t just earned - it’s cultivated through meaningful engagement with the help of data. This webinar will take you behind the scenes of how top retailers turn customer data into personalized experiences that drive engagement and retention.

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Ripple Partners With DIFC Innovation Hub to Accelerate UAE Blockchain and Crypto Adoption

The Fintech Times

Ripple , the blockchain and crypto solution provider, is partnering with the Dubai International Financial Centre’s (DIFC) Innovation Hub, to accelerate blockchain and digital assets innovation in the UAE. Through the new partnership, Ripple and the DIFC Innovation Hub aim to jointly drive blockchain and crypto adoption amongst early-stage companies and scale-ups, while introducing and positioning the technology with traditional large strategic institutions and their use cases.

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Truist lands Wells Fargo tech leader as CIO

Bank Automation

Truist is tapping Wells Fargo CIO of Consumer Technology Steve Hagerman to fill its chief information officer role. Hagerman was the “right person at the right time for our enterprise technology team,” a Truist spokesperson told Bank Automation News, noting that selecting a new CIO was a “thorough process.

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Science Card opens e-money account for socially-conscious spending

Finextra

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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Amex, Flutterwave partner in Nigeria

Payments Dive

The collaboration marks the latest move by American Express to expand its footprint in Africa, which is the world's second-largest continent by population.

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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.