Non-Bank - Payments Space

Non-bank financial institutions must report data security breaches: FTC

Payments Dive

NOVEMBER 1, 2023

The amendment to the FTC’s Safeguards Rule would require non-banking financial institutions to report when they discover information impacting at least 500 people has been accessed without authorization.

Non-Bank

Non-Bank FTC Data Security Breach

Boku MY to operate as a Non-Bank Merchant Acquirer

The Paypers

SEPTEMBER 26, 2023

Provider of mobile payment solutions Boku has received authorisation for its Malaysian entity to operate as a Non-Bank Merchant Acquirer.

Non-Bank

Non-Bank Acquirers Mobile Payments Payment Solutions

Huawei rolls out non-stop banking initiative

The Paypers

MARCH 27, 2023

Chinese multinational provider of comms technology Huawei has launched its Non Stop Banking initiative to enable banks to increase revenue and customer base, save operational costs and enhance financial inclusion.

Non-Bank

Non-Bank Financial Inclusion Technology

Webinars

Turn Payments Into Personalization: Unlock the Value of Transaction Data

The Pragmatic Path to Composability: Creating Efficient Commerce Systems

MORE WEBINARS

Mortgage Payment Deferrals Could Cost Non-Bank Lenders $12B Per Month

PYMNTS

APRIL 2, 2020

Non-bank lenders are on shaky ground as they face the prospect of mortgage payment forbearance with the ongoing coronavirus pandemic, which could end up costing them $12 billion per month, according to the Financial Times. The issue is that reimbursement comes at a lag, which creates problems even in non-crisis times.

Non-Bank

Non-Bank Payments Treasury Governance

Open Banking Limited welcomes Claudio Pollack as an independent Non-Executive Director

Open Banking

MARCH 16, 2023

Open Banking Limited (OBL) today announced that Claudio Pollack has been appointed to the Board as an independent Non-Executive Director (NED). His considerable experience will be invaluable to the Board as we navigate the future development of open banking in the UK, and transition to a Future Entity.” Notes to editors: 1.

Non-Bank

Non-Bank Message Standards Regulations Enrollments

Australia: CDR to extend to non-bank lending

The Paypers

AUGUST 23, 2022

The Australian Government has announced the release of Treasury’s final sectoral assessment report which recommends the designation of the non bank lending sector for the CDR.

Non-Bank

Non-Bank Treasury Assessments Governance

ECB extends liquidity lines with non-EUR central banks

The Paypers

DECEMBER 16, 2022

The European Central Bank has extended its liquidity lines with central banks from non-euro area countries until 15 January 2024, according to an official press release.

Non-Bank

Non-Bank Central Bank

Non-Banks In Singapore To Get Access To Real-Time Payment Rails

PYMNTS

NOVEMBER 30, 2020

Non-bank lenders in Singapore will soon be granted access to the country’s digital payments platforms PayNow and FAST, according to a statement from the Monetary Authority of Singapore (MAS), the country’s central bank, on Monday (Nov. PayNow and FAST enable people to move funds between banks and digital wallets.

Non-Bank

Non-Bank Real Time Payments eWallet API

ICICI Bank to ask for ID for non-clients 2,000 IRN exchange

The Paypers

MAY 29, 2023

India-based ICICI Bank has announced its decision to require non-bank customers for ID proof in order for them to exchange IRN 2,000 banknotes.

Non-Bank

Reserve Bank of India disallows credit lines for non-bank prepaid instruments

The Paypers

JUNE 22, 2022

The Reserve Bank of India (RBI) has issued a notification disallowing non-bank prepaid wallets and prepaid cards from loading credit lines into these platforms.

Non-Bank

Reserve Bank Of India Modifies Penalties For Regulatory Non-Compliance

PYMNTS

JANUARY 13, 2020

In order to enhance and ensure security and safety for all stakeholders — including, most critically, customers — the Reserve Bank of India ( RBI ) last Friday modified the penalties for payment system operators who do not follow regulatory requirements. Not all recent RBI moves have been punitive, however.

Non-Bank

Non-Bank Compliance Participant Authorization

RBI To Allow Non-Bank And UPI Methods For FASTags Payments

PYMNTS

DECEMBER 30, 2019

The Reserve Bank of India (RBI) has made some payment moves to boost the National Electronic Toll Collection (NETC) in the country, according to the Business Standard. . The bank is going to allow non-bank prepaid payments (PPIs) and Unified Payments Interface (UPI) to link to FASTags, which is used to pay for things like tolls and parking.

Non-Bank

Non-Bank Interoperability Payments ATM

Australia To Buy $1.4B In Non-Bank Small Business Loans

PYMNTS

NOVEMBER 15, 2018

The Australian government has announced a new initiative to support small business finance following a series of steps to crack down on bank mistreatment of SMBs. billion in small business loans from non-bank lenders to increase availability of working capital for the nation’s SMBs.

Non-Bank

Non-Bank Small Business Due Diligence Governance

Reserve Bank Of India Fines Lenders For SWIFT Non-Compliance

PYMNTS

MARCH 5, 2019

The Reserve Bank of India (RBI), the country’s central banking institution, has fined almost 20 lenders, including the State Bank of India and ICICI Bank, for not complying with rules on the use of worldwide payments network SWIFT, according to reports. The specific reasons for the non-compliance was not released.

Non-Bank

Non-Bank SWIFT Compliance Procedures

Flipkart Launches Cashless Credit, Eyes Non-Banking License

PYMNTS

SEPTEMBER 20, 2018

In addition, Flipkart may also apply for a new non-banking financial company (NBFC) license to boost growth for the online retailer as it takes on Amazon in the Indian eCommerce world. Both are offered as ways to pay for purchases, reportedly appearing when a user tries to convert a cash-on-delivery payment to another option.

Non-Bank

Non-Bank Finance Consumer Regulations

Default By Top India Non-Bank Lender Rattles Market

PYMNTS

OCTOBER 1, 2018

Reports in Bloomberg said Infrastructure Leasing & Financial Services (IL&FS) Group, a top financier of infrastructure projects, now faces a special audit from the Reserve Bank of India (RBI) after an August default shook the markets. The entity also serves as a top lender to other non-bank lenders, reports said.

Non-Bank

Non-Bank Audit Regulations Advisors

Bank of Thailand Concludes Retail CBDC Pilot Programme, Reveals Key Findings

Fintech News

MAY 8, 2024

As digital technologies continue to transform the financial landscape, central banks worldwide are exploring the potential of Central Bank Digital Currencies (CBDCs). The pilot results showed that RCBDC could support access and integration for bank and non-bank FSPs, addressing existing pain points in the payment infrastructure.

CBDC

CBDC Bots Real Time Gross Settlement (RTGS) Non-Bank

Grab’s Digibank Deposits Reach US$479M, Driven by Growth of Malaysia’s GXBank

Fintech News

MAY 15, 2024

Singaporean multinational technology company Grab Holdings released its unaudited financial results for the first quarter ended 31 March 2024, revealing a significant increase in customer deposits in its digital bank business. As of 31 March 2024, around 80% of GXS Bank’s FlexiLoan customers were also Grab users.

Non-Bank

Non-Bank Credit Risk Compliance Risk

PBOC drafts antitrust measures for non-bank payment companies

The Paypers

JANUARY 22, 2021

China’s central bank has proposed stepping up antitrust measures for companies in the non-bank payments industry, such as Ant Group’s Alipay and Tencent’s WeChat Pay.

Non-Bank

Non-Bank Central Bank Payments

How is Banking-as-a-Service Driving Financial Inclusion Across the Globe?

The Fintech Times

APRIL 9, 2024

This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. Banking-as-a-Service (BaaS) describes the concept that enables non-bank platforms to access banking capabilities traditionally only offered by licensed banks.

Financial Inclusion

Financial Inclusion Underserved Embedded Finance Non-Bank

INTL FCStone Boosts Non-Bank Participation In SWIFT GPI

PYMNTS

JUNE 12, 2017

SWIFT’s global payments innovation initiative, or SWIFT gpi, gained a new member as INTL FCStone announced its Global Payments Division will join the group, currently dominated by banks. Earlier this year, SWIFT revealed which banks are already using its SWIFT gpi payments service to facilitate cross-border payments.

Non-Bank

Non-Bank SWIFT Participant Cross-Border

UK businesses save 150 hours every year on operational tasks by using open banking, survey reveals

The Payments Association

FEBRUARY 16, 2024

Businesses using open banking report spending 150 hours less on operational tasks each year versus non-users1 Open banking users save on payment processing fees annually, versus businesses using other payment […] Read more

Non-Bank

Non-Bank Process Payments

MAS lifts six-month IT ban on DBS

Finextra

APRIL 30, 2024

Singapore's central bank has lifted restrictions on non-essential IT services imposed on DBS Bank in the wake of a series of disruptive outages that hit the bank's payments and ATM services last year.

Non-Bank

Non-Bank Central Bank ATM Payments

Sacombank Reportedly Planning 33% Stake Sale to Raise Up to US$880 Million

Fintech News

MAY 19, 2024

The bank, listed in Ho Chi Minh City, intends to offer the shares at 34,500-36,000 dong (US$1.36-US$1.40) This move values the bank at approximately 53.5 The sale faces significant hurdles due to regulatory limits on foreign ownership in Vietnamese banks, capped at 30%. trillion dong (US$2.1

Competitive Edge: Exploring the Advantages of Implementing Loan Recovery Software

Finezza

FEBRUARY 9, 2024

The lending business has become much more competitive over the last few years, with banks, Non-Banking Financial Companies (NBFCs), neo-banks, and even newer players, such as payment apps, vying to expand their customer base.

Non-Bank

Non-Bank Posting Payments

Strategies for Effective Collection Delinquency Management

Finezza

MAY 13, 2024

The lending landscape is continually growing, with a mix of banks, neo-banks, Non-Banking Financial Companies (NBFCs), and payment apps offering a mix of consumer and business loans.

Non-Bank

Non-Bank Posting Continuity Consumer

5 things traditional banks must do to combat non-traditional competitors

Payments Dive

OCTOBER 25, 2019

While fintechs have introduced new innovations to a staid industry, traditional FIs possess great assets that could allow them to surpass the success of fintechs.

Non-Bank

Non-Bank FinTech Innovation

The Alternative Bank partners with TK Tech Africa

The Paypers

APRIL 1, 2024

The Alternative Bank has announced its partnership with TK Tech Africa in order to optimise the Nigerian financial technology and non-interest banking landscape.

Non-Bank

Non-Bank Technology

FinovateSpring 2024 Sneak Peek Series: Part 9

Finovate

MAY 7, 2024

Banks, credit unions, wealth management firms, and non-banking financial institutions. Banks, community banks, credit unions, and non-bank lenders. Cascading AI Cascading AI has created an AI Loan Assistant, called Sarah. Put the two together for a 30x step change for the industry. Who’s it for?

Credit Union

Credit Union Non-Bank Community Banks AI

Indian central bank tightening consumer loans curb to impact startups

TechCrunch Fintech

NOVEMBER 16, 2023

India’s central bank has enforced several measures to cool down high growth in consumer credit in a move that will impact consumer spending and many startups in the South Asian market, industry executives said.

Central Bank

Central Bank Consumer Non-Bank Credit Cards

CFPB proposes new oversight for payment tech firms

Payments Dive

NOVEMBER 7, 2023

Google, Apple and 15 other big non-bank technology companies that provide digital wallets or payments apps would be subject to increased regulation if a new Consumer Financial Protection Bureau rule is approved.

CFPB

CFPB Non-Bank Rules Payments

Evolution or Revolution? Preparing For The PSD3

Open Banking Excellence

NOVEMBER 14, 2023

It has been almost six years since the Second Payment Services Directive (PSD2) came into force and laid the foundations for Open Banking in the EU and UK. Together, these new rules will enable Europe to push forward into Open Finance – the next stage of Open Banking. PSD3 and PSR1 will introduce higher levels of regulation.

Non-Bank

Non-Bank Rules Regulations Authentication

What Should We Expect to See From Embedded Finance in 2024?

The Fintech Times

APRIL 3, 2024

This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. Whether it be retailers, ride-hailing apps, super-apps, or other non-bank service providers, embedded finance appears to be making its way into every sub-sector.

Embedded Finance

Embedded Finance Finance Non-Bank Embedded Payments

Decoding the Importance of NBFC Loan Management Software for Lending Business

Finezza

DECEMBER 4, 2023

Non-Banking Financial Companies (NBFCs) are making a behind-the-scene yet significant impact on the Indian economy. Despite not having a traditional banking license, they promote financial inclusion, support economic development, enhance innovation, and deepen financial markets.

Financial Inclusion

Financial Inclusion Non-Bank Economy Innovation

Bunq Adds New Feature Allowing Shared Bank Accounts With Non-Users

PYMNTS

APRIL 23, 2020

Challenger bank Bunq now has new options for customers for increased flexibility. The bank announced a new feature called Bunq +1 , which means premium users will now be allowed to create a sub-account with someone else, who doesn’t have to be a premium user, for just €2.99 Revolut has added one, and so has Venmo.

Non-Bank

Non-Bank Accounts Venmo Origination

COSMIC AML Platform May Expand Beyond Banking, Says Deputy PM Wong

Fintech News

MAY 7, 2024

Deputy Prime Minister and Minister for Finance, Lawrence Wong, discussed the potential expansion of the Monetary Authority of Singapore’s (MAS) anti-money laundering platform, COSMIC, to non-banking sectors in a recent response to a parliamentary question.

AML

AML Money Laundering Financial Crimes Non-Bank

Mastercard Partnership with Alipay Offers Faster, Secure Remittances to China

Fintech News

MARCH 18, 2024

The company’s Mastercard Move service, connecting nearly 10 billion endpoints globally, including bank accounts and digital wallets, is part of this effort. It allows financial institutions to offer their customers international payment options to over 180 markets and a network covering more than 150 currencies and 3.5

Visa

Visa Cross-Border Cross-Border Payments Security

MAS Ensures DBS Addresses Root Causes of Recent Online Banking Disruptions

Fintech News

MAY 7, 2024

The Monetary Authority of Singapore (MAS) has intensified its oversight of DBS Bank following repeated disruptions to its online banking and payment services. MAS continues to closely monitor the bank’s implementation of these measures. billion on DBS.

Addressing

Addressing Non-Bank Authorization Regulations

PIR Bank hack highlights risks of non-computer devices on bank networks

Payments Source

JULY 24, 2018

The hack's core trick highlights an area of cybersecurity which is often neglected: hardware connected to computer networks which laymen wouldn’t normally consider a computer.

Non-Bank

Non-Bank Cybersecurity Risk Security

The Future of Competitive Advantage in Banking & Payments Report

The Payments Association

OCTOBER 25, 2023

The results are ‘in’ from over 500 banking and non-banking financial institution players across Treasury, Fraud, Operations, Innovation, Product, and Technical Implementation at C-Level in 32 countries globally.

ISO 20022

ISO 20022 Cross-Border Payments Cross-Border Payee

Ukraine adopts law for Open Banking, e-money, and non-bank cards

The Paypers

JULY 1, 2021

The Verkhovna Rada (the Ukraine-based parliament) has approved a bill on payment services aimed at consumers to improve the quality of payment services, according to finance.ua.

Non-Bank

Non-Bank Laws Bank Card Consumer

Australia’s Embedded Insurance Growth Projected to Outpace Traditional Channels

Fintech News

MAY 13, 2024

Embedded insurance refers to the integration of insurance products into non-insurance platforms or experiences, such as e-commerce, travel or healthcare. In Singapore, AXA launched in 2017 an insurance-as-a-service (IaaS) API platform to link insurers and non-insurance retailers and enable embedded-insurance propositions.

Embedded Finance

Embedded Finance Non-Bank Finance Consulting

Non-Bank Payments Aren't a Long-Term Answer for Legal Marijuana

Payments Source

MARCH 3, 2016

billion in revenue last year, the legal marijuana industry has yet to solve one of its biggest issues—the lack of reliable payments, banking and other financial services. Despite generating an estimated $4.5

Legal

Legal Non-Bank Payments Acquirers

UK and Singapore Discuss Green Finance Gaps, Digital Asset Regulation

Fintech News

MAY 8, 2024

The dialogue focused on various pivotal areas including sustainable finance, fintech innovation, non-bank financial intermediation, and cross-border payment connectivity. Notably, the UK discussed the progress of its Transition Plan Taskforce’s disclosure framework and upcoming regulatory expectations for listed companies.

Finance

Finance Regulations Cross-Border Payments Cross-Border

Non-bank financial institutions must report data security breaches: FTC

Boku MY to operate as a Non-Bank Merchant Acquirer

Huawei rolls out non-stop banking initiative

Webinars

Mortgage Payment Deferrals Could Cost Non-Bank Lenders $12B Per Month

Open Banking Limited welcomes Claudio Pollack as an independent Non-Executive Director

Australia: CDR to extend to non-bank lending

ECB extends liquidity lines with non-EUR central banks

Non-Banks In Singapore To Get Access To Real-Time Payment Rails

ICICI Bank to ask for ID for non-clients 2,000 IRN exchange

Reserve Bank of India disallows credit lines for non-bank prepaid instruments

Reserve Bank Of India Modifies Penalties For Regulatory Non-Compliance

RBI To Allow Non-Bank And UPI Methods For FASTags Payments

Australia To Buy $1.4B In Non-Bank Small Business Loans

Reserve Bank Of India Fines Lenders For SWIFT Non-Compliance

Flipkart Launches Cashless Credit, Eyes Non-Banking License

Default By Top India Non-Bank Lender Rattles Market

Bank of Thailand Concludes Retail CBDC Pilot Programme, Reveals Key Findings

Grab’s Digibank Deposits Reach US$479M, Driven by Growth of Malaysia’s GXBank

PBOC drafts antitrust measures for non-bank payment companies

How is Banking-as-a-Service Driving Financial Inclusion Across the Globe?

INTL FCStone Boosts Non-Bank Participation In SWIFT GPI

UK businesses save 150 hours every year on operational tasks by using open banking, survey reveals

MAS lifts six-month IT ban on DBS

Sacombank Reportedly Planning 33% Stake Sale to Raise Up to US$880 Million

Competitive Edge: Exploring the Advantages of Implementing Loan Recovery Software

Strategies for Effective Collection Delinquency Management

5 things traditional banks must do to combat non-traditional competitors

The Alternative Bank partners with TK Tech Africa

FinovateSpring 2024 Sneak Peek Series: Part 9

Indian central bank tightening consumer loans curb to impact startups

CFPB proposes new oversight for payment tech firms

Evolution or Revolution? Preparing For The PSD3

What Should We Expect to See From Embedded Finance in 2024?

Decoding the Importance of NBFC Loan Management Software for Lending Business

Bunq Adds New Feature Allowing Shared Bank Accounts With Non-Users

COSMIC AML Platform May Expand Beyond Banking, Says Deputy PM Wong

Mastercard Partnership with Alipay Offers Faster, Secure Remittances to China

MAS Ensures DBS Addresses Root Causes of Recent Online Banking Disruptions

PIR Bank hack highlights risks of non-computer devices on bank networks

The Future of Competitive Advantage in Banking & Payments Report

Ukraine adopts law for Open Banking, e-money, and non-bank cards

Australia’s Embedded Insurance Growth Projected to Outpace Traditional Channels

Non-Bank Payments Aren't a Long-Term Answer for Legal Marijuana

UK and Singapore Discuss Green Finance Gaps, Digital Asset Regulation

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