Sat.Jun 22, 2024 - Fri.Jun 28, 2024

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Securing Your Wealth: How Cybersecurity Affects Investment Decisions

VISTA InfoSec

The frequency and sophistication of cyber threats make cybersecurity a critical factor in any company. Therefore, investors should be more vigilant, recognizing that a company’s cybersecurity posture can significantly impact its financial health and stability. This article highlights the need for robust cybersecurity strategies and how these can determine investment decisions.

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Unlocking profit potential in the payments back-office 

Payments Next

By Kate Knudsen, Senior Program Director at BHMIAs the payments space changes rapidly, banks, merchants, and processors are updating front-end platforms to The post Unlocking profit potential in the payments back-office first appeared on Payments NEXT.

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Judge sways away from Visa-Mastercard settlement

Payments Dive

On Tuesday, Judge Margo Brodie denied a preliminary settlement proposal made by the card networks Visa and Mastercard, and merchants who sued them in federal court nearly two decades ago.

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De-banking in cross-border payments: Why the system needs reform

The Payments Association

Banks are de-banking payment providers, causing major disruptions in cross-border transactions and impacting financial inclusion

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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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Barclays, HSBC and Nationwide customers hit by payment delays

Finextra

Thousands of Barclays, HSBC, Nationwide and Virgin Money customers have been hit by a payments problem that has seen some people not receiving their salaries.

Payments 144
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The Hidden Catalyst to Scaling an e-Wallet that Serves 200 Million Users in Indonesia

Fintech News

DANA stands at the forefront of the rapidly evolving digital landscape of Indonesia, revolutionising the way people conduct financial transactions. Founded in 2018, DANA has swiftly become one of the nation’s leading e-wallet and payment services, boasting an impressive user base approaching 200 million in 2024. With a vision to create a cashless society in Southeast Asia’s largest economy and to empower millions with innovative financial services, as the ubiquitous digital payments service in I

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Navigating the Challenges of the Digital Payments Landscape

The Payments Association

The digital payments landscape is evolving rapidly due to technological advancements and changing consumer preferences. Key challenges include ensuring payment security amidst increasing cyber threats, which necessitates the use of robust encryption, tokenization, and fraud detection systems. Simplifying complex payment processes through integrated solutions can enhance efficiency and reduce costs.

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Evolve Bank confirms data stolen by ransomware gang

Finextra

Days after claiming that it had hacked the US Federal Reserve, the Russia-linked LockBit ransomware gang has posted stolen customer data from Evolve Bank & Trust on the dark web.

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MUFG and Krungsri Finnovate Invests US$195 Million in Thailand’s Ascend Money

Fintech News

Mitsubishi UFJ Financial Group (MUFG) is leading a US$195 million investment in Thailand’s digital payment and financial service provider, Ascend Money , alongside Krungsri Finnovate. Ascend Money, backed by Thailand’s Charoen Pokphand Group, has 30 million active users and a strong presence in consumer payments and financial services. The company partners with major businesses like True Corp and 7-Eleven.

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Amex banks on spending at high-end restaurants

Payments Dive

Analysts say American Express wants to cash in on the restaurant industry’s success and give customers admission to hard-to-access premium experiences.

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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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Qover Launches AI Solution to Settle Insurance Claims in Just Minutes of Approval

The Fintech Times

Claim settlements in the insurance industry can take a long time. Looking to reduce the wait time following approval to mere minutes, insurtech Qover is launching a new AI-enabled solution. The new AI solution will be overseen by Qover employees to ensure pain points in the insurance claims settlement journey are eased, as it looks to be easily integrated into any brand or risk carrier’s existing systems, the new service will improve the speed Traditional insurance experiences can often ha

AI 118
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Digital euro would maintain freedom to choose how Europeans pay - ECB

Finextra

With Europe inching towards the issuance of a digital euro, the ECB has embarked on a charm offensive, taking to media outlets across the continent to reassure citizens that the new payments option will compliment, not replace, cash and provide them with greater freedom of choice.

Payments 130
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Vietnam’s BIDV Partners with OpenWay for Payment System Overhaul

Fintech News

Vietnam’s Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has announced a partnership with OpenWay , a payment technology provider, to replace its existing card management and payment systems. This initiative is a significant step in BIDV’s comprehensive digital transformation strategy. OpenWay’s Way4 digital payment software platform will be at the forefront of this upgrade, aimed at enhancing BIDV’s infrastructure and streamlining its operat

Payments 115
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BNPL to shift toward larger-ticket expenses: CEO

Payments Dive

The short-term financing option, which already costs more than cards for merchants, will eventually retreat from daily purchases, Priority CEO Tom Priore predicted.

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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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Taiwan’s FinTechSpace and Bahrain FinTech Bay Forge New Fintech Alliance

The Fintech Times

FinTechSpace, backed by Taiwan’s Financial Supervisory Commission and co-funded by the Taiwan Financial Service Roundtable, has partnered with Bahrain FinTech Bay (BFB) to kick off a new era of fintech collaboration. The partnership aims to leverage Bahrain’s advanced digital infrastructure and regulatory frameworks to enhance fintech innovation and cooperation.

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Central banks must raise game in face of AI - BIS

Finextra

Central banks should embrace artificial intelligence to sharpen their analytical tools in pursuit of financial and price stability, according to the Bank for International Settlements.

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Bank Negara Indonesia Enhances Offerings with Cloudera’s Generative AI

Fintech News

Bank Negara Indonesia (BNI), an Indonesian state-owned commercial bank, has partnered with Cloudera to leverage generative artificial intelligence (Gen AI) for advancing its banking services. This move positions BNI among the first global enterprises to trial Cloudera’s AI Inference service, powered by NVIDIA NIM. This collaboration aims to enhance BNI’s customer experience and operational efficiency through AI-driven innovation.

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Bank of America zeroes in on banking app innovation

Payments Dive

The team behind the bank’s CashPro app aims to stay a step ahead of rivals, including with payment approval features.

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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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Snowblind Malware Emerges as Major Threat to Banking App Security

The Fintech Times

A dangerous new strain of malware has emerged, posing a severe threat to banking app users and leading to significant financial losses and fraud, cybersecurity experts have warned. Promon, a provider of mobile app security solutions, has named the first-of-its-kind malware ‘Snowblind’ It makes use of a novel attack vector, exploiting functionalities in the Android operating system to bypass anti-tampering mechanisms.

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US RegTech Norm Ai raises $27 million

Finextra

Norm Ai, a US RegTech that has built an AI platform for converting regulations into computer code, has raised $27 million in Series A funding from a host of financial institutions.

AI 115
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Podcast: Retail POS lending is an opportunity for lenders, Pagaya president says

Bank Automation

Point-of-sale financing as an alternative payment method is a growing opportunity for lenders, technology company Pagaya’s President Sanjiv Das says on this episode of “The Buzz” podcast. According to auto lender and Pagaya partner Ally Financial, POS financing is expected to reach a value of more than $81 billion by 2030.

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Travelers want to use credit cards, but often can’t

Payments Dive

Spending by travelers and tourists is often done in cash or by debit card, even if most travelers would prefer to pay another way.

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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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Qonto Announces Partnership With Wise Platform to Bring Faster, Cheaper and More Convenient International Payments to Its Customers

Fintech Finance

Qonto , the leading European business finance solution for SMEs and freelancers, announces today two new features which reinforce its commitment to offer the best business banking solution to its 500,000 customers. The first is a new strategic partnership with Wise Platform , Wise’s market-leading global infrastructure for banks and enterprises, to further enhance Qonto’s cross-border payment capabilities.

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Chase is the first bank in all lower 48 US states, what next?

Finextra

Andrea Principe, managing director – Northeast division director – consumer banking, Chase, took to the stage at Future Branches in Boston to explore how while the banking industry faces challenges in sustaining core deposits, deepening customer trust, and building relationships, it is important to learn from failures, reengage with customers, and provide exceptional in-person experiences.

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Operating Costs Drive GXS Bank Losses Higher Despite Tripling of Total Income

Fintech News

GXS Bank, a digital bank supported by Grab Holdings and Singtel, reported a substantial increase in losses for the financial year ending 31 December 2023, as reported by DealStreetAsia. Despite this, the bank experienced a remarkable sixfold increase in net interest income, according to recent regulatory filings. The bank’s losses expanded to S$208.2 million in 2023 from S$131.1 million the previous year.

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Affirm may see payment volume bump from Apple Pay: Mizuho report

Payments Dive

The partnership is estimated to represent a $12 billion opportunity for buy now, pay later provider Affirm, according to an analyst note last week.

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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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Airwallex Launches Support Programme for Singapore’s Startup Community

The Fintech Times

Airwallex has introduced its ‘Airwallex for Startups’ programme in Singapore, targeting the city-state’s community of more than 55,000 startups. This initiative follows rollouts in Hong Kong and Australia and includes networking activities, mentorship opportunities with industry leaders and exclusive product offers. Startups can also apply to win Airwallex’s SG$10,000 Level-up Business Grant to fast-track their growth. “Startups are the backbone of innovation and progress

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MuchBetter launches 'free' contactless payments ring

Finextra

Wearable paytech provider MuchBetter has launched a contactless payments ring in Italy that is free - as long as users load it with €100 through the associated app.

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2C2P and MineSec Launch Android App for Merchants to Accept Card, QR Payments

Fintech News

2C2P, a full-suite payments platform, and MineSec have launched a new cloud-based Point of Sale (POS) payment app for Android devices in Singapore. This collaboration introduces a versatile solution enabling businesses to accept Tap-to-Pay and QR payments directly on NFC-enabled Android devices. This is touted to be the first of its kind in Singapore.

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Vertical software platforms are closing the financing gap for SMBs

Payments Dive

Discover how vertical software platforms are stepping in to fulfill the financing needs of SMBs.

Finance 158
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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.