Sat.Jun 29, 2024 - Fri.Jul 05, 2024

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Chip maker launches probe into data theft amid cybersecurity concerns

VISTA InfoSec

American chip giant Advanced Micro Devices, Inc. (AMD) announced that it has launched a probe of a data breach carried out by a cybercriminal group called Intelbroker that led to several private documents and information being stolen which occurred early this month. In a statement to media outlets, the company spokesperson said that it is working closely with the authorities and a third-party hosting partner to investigate the impact of the breach.

CHIPS 239
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Payments industry to use AI to detect fraud, improve efficiency

Payments Dive

Research from the investment bank Jefferies suggests generative artificial intelligence could be used in the payments industry to improve fraud detection and make transactions happen faster.

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Less Than 1 in 10 Firms Are Fully Prepared for MiCA With 25% Having Made No Preparations

The Fintech Times

The first stage of the European Union ‘s Markets in Crypto Assets Regulation (MiCA) will come into play on 30 June. However, a new report by Acuiti , the management intelligence platform, and conducted by Eventus , the trade surveillance software provider, has found that a move to establish market surveillance systems is underway as firms find themselves underprepared.

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EPI launches wero wallet in Germany

Finextra

The European Payments Initiative (EPI) has launched its mobile-first wallet and instant account-to-account payments system in Germany, with other counties set to follow in the coming months.

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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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ConnectOne Bank builds data lake in-house

Bank Automation

ConnectOne Bank built its own data lake and data warehouse in-house to allow for access to insights for all departments. One of the first assignments for the $9.8 billion Englewood Cliffs, N.J.

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NCR Voyix terminates staff across several units

Payments Dive

The tech company, whose tools are used by numerous stores, cut employees in its sales, engineering, professional services, data and product management teams last week.

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Monzo introduces trio of new fraud controls

Finextra

Monzo has introduced a trio of security controls to help customers diminish the prospect of fraudulent payments out of their accounts from phone theft, shoulder surfing or impersonation scams.

Scams 115
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S&P’s gen AI tool provides up to 60% efficiency gains

Bank Automation

Data insights company S&P Global is developing internal- and external-facing generative AI tools to boost efficiencies — and it hopes to monetize the technology by offering it to customers.

AI 117
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Visa-Mastercard settlement failed to treat merchants ‘equitably’

Payments Dive

A proposed Visa-Mastercard settlement failed partly because a judge overseeing the case determined large merchants wouldn’t benefit as much as smaller merchants.

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IFC Explores US$150 Million Loan for KB Kookmin’s Indonesia, Thailand Arm

Fintech News

The International Finance Corporation (IFC) , a member of the World Bank Group, is evaluating a US$150 million loan package for KB Finansia Multi Finance (FMF) in Indonesia and KB J Capital (KBJ) in Thailand. According to a disclosure accessed by DealStreetAsia , the financing will include an A loan of up to US$75 million in Indonesian rupiah equivalent for FMF, partially guaranteed by KB Kookmin Card Co (KBC), and another US$25 million loan without a guarantee.

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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.

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Klarna Partners with Adobe Commerce to Extend Flexible Payment Options to Merchants

Fintech Finance

Klarna , the AI-powered global payments network and shopping assistant, today announced it’s partnered with Adobe Commerce to enable merchants to easily implement Klarna’s Buy Now Pay Later (BNPL) services, along with other flexible payment options. This allows Klarna to expand payment flexibility to consumers. “Our relationship with Adobe Commerce offers thousands of merchants a flexible, seamless, and smooth way to accept payments,” said Erin Jaeger, Head of North America at Klarna.

BNPL 110
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Financial Leaders Back Labour Plan to Force Tech Firms to Share APP Fraud Reimbursement Burden

The Fintech Times

With the next general election imminent in the UK, reports suggest that the Labour Party have drafted plans to force tech firms to reimburse victims of fraud originating on their platforms, in an effort to combat the growing threat of authorised push payment (APP) fraud. Polls indicating voting intention across the UK continue to suggest opposition party Labour is far out in the lead just one day before voters submit their ballot sheets.

Scams 105
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Gen Z is leading adoption of new payments. Here’s how BNPL is being affected.

Tearsheet

The evolution in payment technologies and experiences is directly impacted by changes in consumer preferences, particularly among younger generations. To explore these changes and their potential impact on businesses, I spoke with Thomas Priore – CEO, Priority , a company specializing in integrated payments and banking solutions. Thomas Priore – CEO, Priority This interview covers several key areas of interest in the payment landscape.

BNPL 105
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MAS Advances Asset Tokenisation with Next Phase of Global Layer 1

Fintech News

The Monetary Authority of Singapore (MAS) , alongside international financial institutions, has successfully completed the first phase of the Global Layer 1 (GL1) initiative. The regulator is now focusing on developing standards, market practices, and governing principles for digital infrastructure supporting tokenised assets. The MAS Global Layer 1 initiative includes partnerships with global industry associations and financial institutions to develop common standards in fixed income, foreign e

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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.

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Zimpler and Swish Partnership Boosts Merchant Payment Efficiency and Growth

Fintech Finance

Zimpler , a leader in instant payment solutions, today announced a new technical partnership set-up with Swish , Sweden’s most used payment app. This collaboration will provide Zimpler’s merchants with an optimized payment solution combining the strengths of Zimpler’s account-to-account (A2A) payments and Swish’s seamless transaction capabilities.

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BlackRock to buy private markets data platform Preqin for £2.5 billion

Finextra

BlackRock is to acquire private market data firm Preqin for £2.55 billion in an all-cash deal expected to close before year end.

Acquirers 121
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BNPL credit reporting hangs in limbo

Payments Dive

The Consumer Financial Protection Bureau has long wanted buy now, pay later loans to be listed on consumer’s credit reports. So why didn’t it include that in a March rule for the industry?

BNPL 88
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Ant International Acquires MultiSafepay to Bolster European SME Payments

Fintech News

Ant International has acquired Amsterdam-based payment service provider MultiSafepay, integrating it into its Antom division, a payment and digitisation services provider. The financial details of the deal was not disclosed. The acquisition aims to enhance payment solutions and digital services for small and medium-sized enterprises (SMEs) across Europe.

Acquirers 114
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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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AutoRek to Transform Insurance Firms’ Premium Processing by Joining Forces with J.P. Morgan Payments

Fintech Finance

AutoRek , a leading insurtech that streamlines premium processing operations within insurance firms, today announced that it has joined forces with J.P. Morgan Payments to help insurance firms overcome data complexities and present new market opportunities. The AutoRek solution brings order and efficiency to financial data flows from banking sources, to help clients overcome the challenges associated with cash allocation, matching and credit control.

Process 98
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Customer Intimacy, Generative AI and Data Models

Finextra

Join FinextraTV at the Temenos Community Forum 2024 as William Moroney, President International, Temenos and Izzidin AbuSalameh, Group COO, Capital Bank of Jordan, speak about the biggest challenges facing the banking industry today. Despite substantial progression over the last two decades, the pair explore how customer intimacy through digital interactions must be prioritised as the sector is moving towards reducing branches.

AI 104
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UniCredit Bank’s Schulze to speak at Bank Automation Summit Europe 2024

Bank Automation

Robert Schulze, head of pricing and risk model infrastructure at UniCredit Bank, will speak at Bank Automation Summit Europe 2024 about AI in financial services. The summit takes place Oct. 7-8 at Hilton Frankfurt in Frankfurt, Germany, bringing together industry experts to discuss banking automation, AI, regulation, payments and more.

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Cassandra Goh to Lead Silverlake Axis as Group CEO

Fintech News

Silverlake Axis, a Singapore Mainboard-listed provider of enterprise and digital financial services solutions, has announced that Cassandra Goh Shiou Ling will assume the role of Group CEO. Effective 1 July 2024, Goh succeeds Andrew Tan Teik Wei, marking an earlier-than-expected transition. Goh was expected to take on the Group CEO role in 2025. Goh aims to continue the growth trajectory set by her predecessor, Andrew Tan, who will remain with the company to provide strategic guidance until 31 D

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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.

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Lenovo Launches Trustly’s Open Banking at Checkout in the UK and Europe

Fintech Finance

Lenovo , the global technology powerhouse, is launching a new Open Banking at checkout service for its customers in the UK and continental Europe. The checkout technology will be provided by Trustly , the global leader in open banking payments. Lenovo is offering the new technology to its customers as a quick, easy, and safe way to pay. The service will provide customers with an alternative payment method that is less vulnerable to fraud, compared to other forms of payment such as credit or debi

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Wise says some customers may be affected by Evolve Bank hack

Finextra

Money transfer fintech Wise says some of its customers may have been caught up in the recent hack on Evolve Bank & Trust.

FinTech 116
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Supreme Court lets complaint on debit fees proceed

Payments Dive

The Supreme Court ruled Monday that a case challenging a debit card interchange rate set by the Federal Reserve can proceed.

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Revolut Singapore Doubles Revenue in 2023, Sees 77% Growth in Users

Fintech News

Neobank Revolut’s annual revenue in Singapore more than doubled compared to 2022, contributing to the group’s financial performance. This marks its second consecutive year of gross profitability. The group’s revenue increased by 95%, from US$1.1 billion in 2022 to US$2.2 billion in 2023. Profit before tax reached US$545 million, and net profit grew to US$428 million, up from US$7 million in 2022.

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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.

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Mollie and Riverty Join Forces Offering 30 Day Invoicing Solution in the Netherlands, Belgium, Austria and Germany

Fintech Finance

Mollie , one of Europe’s fastest growing financial service providers, is joining forces with Buy Now, Pay Later (BNPL) provider Riverty , supported by Bertelsmann, one of the largest and most financially stable media companies in the world. Mollie customers now have an additional option to pay afterwards, with a payment period of up to 30 days.

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Greek neobank snappi receives banking licence

Finextra

snappi, the pioneering Greek neobank, announces that it has received a universal banking license from the European Central Bank (ECB), following the proposal of the Bank of Greece.

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Evian pilots mineral water refill stations at Wimbledon

NFCW

EVIAN PILOT: Spectators can buy a QR code for £5 enabling them to refill their water bottle all day Sports fans attending this year’s Wimbledon tennis tournament can purchase a QR refill pass that gives them the ability to refill their water bottle at any of a number of Evian mineral water refill stations located around the All England Lawn Tennis Club , rather than buying their mineral water in a plastic bottle or using a free tap water refill station.

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Vietnam’s Digital Finance Landscape: Banks Gain Ground Amidst Shifting Competition

Fintech News

Vietnam’s digital finance landscape is undergoing a notable shift as new players emerge, established ones fade, and traditional banks rise to prominence, a new report by Decision Lab shows. In Q4 2022, Moca by Grab ranked as the sixth most used digital financial platform in Vietnam with an 8% penetration rate, results from a survey of more than 1,500 consumers reveal.

Finance 106
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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.