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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

The Economic Crime and Corporate Transparency Act 2023, specifically the “failure-to-prevent fraud” offence, and outlines how businesses can mitigate fraud risks. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability. Why is it important?

Crime 88
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Merchant Underwriting: What It Is, How It Works, and Why It’s Important

Stax

Key steps include application review, risk assessment, credit checks, and compliance verification. Merchant account underwriting is the evaluation process payment processors use to assess whether a business meets the criteria for accepting credit card payments. Learn More What is Merchant Account Underwriting?

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What Does the End of the CFPB Mean for Credit Risk Innovation?

The Fintech Times

With the CFPB in temporary retreat, lenders may have a window to rethink risk assessment and consider how a broader set of data inputs could help address inclusion gaps responsibly. These first payment defaulters don’t show up as fraud in traditional models, nor are they captured by legacy risk scoring.

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Capitalise Teams Up with Plaid

Finovate

The collaboration integrates Plaid’s open banking services with Capitalise’s Instant Offers to simplify and streamline small business funding. The partnership is designed to simplify business funding, leveraging Open Banking to offer pre-approvals to 150,000 small businesses. are embracing open banking technology.

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How GDP Trends Impact the Payments Industry

Clearly Payments

GDP in Canada (World Bank data) is about US$2.241 trillion, growing by 1.6% GDP in the USA (World Bank data) is about US$29.18 trillion, growing by 2.8% non-cash payments increased 6%, with card-based transactions accounting for the vast majority of monthly spending as GDP-supported confidence returned.

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From open banking to open finance and beyond: The future of financial data-sharing

The Payments Association

From open banking to open finance and beyond: The future of financial data-sharing March 18 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The evolution of open banking into open finance, examining regional regulatory approaches and adoption trends. Why is it important?

Finance 88
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Building the Backbone: Future-Proofing Fintech Infrastructure for the Next Decade

Finextra

The UK government recently outlined its National Payments Vision – plans for a next-generation payments ecosystem, built around open banking and emerging technology. Why Cabling and Connectivity Still Matter Ultra-low latency and high-speed connectivity are non-negotiable in fintech. This approach also mirrors wider national ambitions.

FinTech 52