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Generative AI in Payments: 4 Use Cases to Increase Revenue and Optimise Costs

Fintech News

Moreover, when Gen AI proposes enhancements to a product, risk rule, or customer service scenario, Way4 can implement these requests instantly. Instead of hard coding, Gen AI can configure new payment offerings using flexible parameters. Read more about OpenWay’s Gen AI digital payments use cases here.

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Open Banking Around the World: What Works, What Doesn’t, and Why It Matters

Open Banking Excellence

When those rules were introduced, the intended aim was to drive competition in the retail banking market and make it easier for consumers to switch accounts. Instead, what the UK’s Open Banking rules have unleashed is a whole range of innovation from third-party providers tapping into customer banking data that they have consented to share.

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Can Agentic AI in Fintech Transform Financial Services Through Autonomous Intelligence?

Fintech News

In this article, we cover the developments between Agentic AI in fintech and possible use cases, giving a glimpse into how financial services could look like in the near future. What is Agentic AI?

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Reuse identity, reduce friction: up to 5X faster verification of trusted customers & users

The Payments Association

Each ID-Pal Once profile is built from already-verified identity data, but critically, this information is re-validated against an organisation’s own risk rules, without requiring the end user to repeat the submission process. This ensures ongoing compliance while minimising user friction.

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Embedded Finance Empowers New Business Technology in Latest Report by Weavr

Fintech Finance

The report outlines several potential use cases for spendable benefits cards, such as use in employee-engagement platforms, reward and recognition platforms, traditional HR platforms and new employee-centric super apps. Employees tap their way to much more personalised and relevant benefits.

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Backbase Launches AI-Powered Banking Platform

Fintech News

To help banks implement the platform, Backbase also introduced the AI Factory, a delivery model that embeds its experts within client teams to develop use cases and bridge the industrys AI talent gap. Its not a wait-and-see – its here, now, and its rewriting the rules of the industry. AI waits for no bank.

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Offline settlements with a digital pound: Lessons from the BoE’s report

The Payments Association

The security of such payments rests entirely on the devices, hence the use of secure elements in the experiment. The difficulties lie in the assumption that, however secure they may be, one cannot rule out a breach of secure elements in the future. This distinction has real-world implications.