July, 2024

article thumbnail

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
article thumbnail

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.

article thumbnail

Digital Payments: 12 Digital Payment Options to Consider Accepting in Your Business

Stax

It’s no question that the world has been digitally transformed — both in business and in life. We can hail a ride from a mobile app, and our transactions for all sorts of goods and services can be easily paid for from our phones. Physical wallets are phasing out, left behind in favor of digital wallets and other digital payment options. All you need to use a digital wallet is a smartphone.

article thumbnail

Evolve Bank says ransomware gang stole personal data on millions of customers

TechCrunch Fintech

Evolve has confirmed that the personal data of at least 7.6 million people was accessed during LockBit's ransomware attack. © 2024 TechCrunch. All rights reserved. For personal use only.

article thumbnail

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.

article thumbnail

Coffee with the Council Podcast: Meet Three Qualified Security Assessors Who Completed the Council’s AQSA Mentorship Program and Advanced Their Careers

PCI Security Standards

Welcome to our podcast series, Coffee with the Council. I'm Alicia Malone, Senior Manager of Public Relations for the PCI Security Standards Council. In this episode, we'll meet three Qualified Security Assessors, or QSAs. A QSA company is a data security firm certified by the Council to perform on-site assessments of a company's PCI Data Security Standard compliance.

Security 113
article thumbnail

Visa and Tangem combine payment card with crypto wallet

Finextra

Crypto wallet provider Tangem is partnering with Visa on the launch of a payment card that will be integrated with the Swiss firm's self-custodial hardware wallet.

Payments 134

More Trending

article thumbnail

Congress members egg on US payments system expansion

Payments Dive

A bipartisan group is nudging the Federal Reserve to explain why it can’t speed up a plan to extend the operational availability of the U.S. payments system.

article thumbnail

Citi stays course on tech modernization, simplification

Bank Automation

Citigroup’s multiyear modernization strategy saw progress in the second quarter as the bank’s tech investments proved more necessary after the Federal Reserve Board penalized the bank this week. “We have made meaningful progress in executing our transformation and simplifying our multiyear undertaking,” Chief Executive Jane Fraser said during the $2.

article thumbnail

Banking Circle Group Joins the Financial Technology Association

Fintech Finance

The Financial Technology Association (FTA) today announced that Banking Circle Group , a banking and payments leader for the new economy, has joined the association as its newest member. Banking Circle Group is a unique combination of a world-class technology company and a fully licensed financial services company, delivering fast, low-cost global payments and banking services by connecting directly to the world’s clearing systems.

article thumbnail

New Collaboration Boosts Fundraising Efficiency for Nonprofit Organisations

The Fintech Times

Swipesum, a payment processing consultancy, and Authorize.net, a Visa solution, are collaborating with 4aGoodCause, an online donation platform, to improve customer support and streamline payment processes for nonprofits. This partnership will offer organisations on the 4aGoodCause platform flexible payment options, enhanced fraud detection, and dedicated payment support.

article thumbnail

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.

article thumbnail

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.

article thumbnail

Sunline to Power Siam Commercial Bank’s Core Banking System Transformation

Fintech News

The Siam Commercial Bank (SCB) is set to modernise its core banking system through a new partnership with Sunline , a global provider of banking technology services. This is said to be SCB’s first IT architecture revamp in over a decade. This collaboration aims to enhance SCB’s IT architecture, improving financial transaction processing for deposits and loans with better efficiency, stability, security, and scalability to meet increasing transaction volumes.

article thumbnail

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.

Product 147
article thumbnail

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.

article thumbnail

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.

article thumbnail

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
article thumbnail

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
article thumbnail

Apple reaches deal with EC on NFC payments access

Finextra

Apple has staved off massive European Commission fines by agreeing to open up the NFC chip technology that enables iPhone users to make contactless payments to third-party providers.

article thumbnail

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.

article thumbnail

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.

article thumbnail

Crypto theft doubles to $1.38B

Payments Dive

The May theft of over $300 million worth of bitcoin from Japanese cryptocurrency exchange DMM Bitcoin is the largest digital currency heist so far this year.

article thumbnail

Podcast: ConnectOne Bank invests in data training

Bank Automation

ConnectOne Bank invests in technology that generates data to boost efficiencies, but the systems are only beneficial if employees use them consistently. For example, the $9.8 billion Englewood Cliffs, N.J.

article thumbnail

Expensify Unveils Unlimited Virtual Cards for Enhanced Spend Management

Fintech Finance

Expensify, Inc. (Nasdaq: EXFY), the financial management super app for expenses and corporate cards, announced unlimited virtual cards with the Expensify Visa® Commercial Card. With this addition to the platform, Expensify empowers businesses to take control of their spending with unparalleled flexibility and precision. Expensify members can now issue an unlimited number of virtual cards, providing unmatched flexibility in managing expenses across employees and merchants.

article thumbnail

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
article thumbnail

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.

article thumbnail

AWS announces generative AI service to create apps

Finextra

Named AWS App Studio, financial institutions, fintech firms and virtually any organisation are now able to build an application that could have taken a professional developer days to create from scratch, but in minutes.

article thumbnail

How Distributed Databases Drive the Digital Boom in ASEAN: Insights from OceanBase

Fintech News

As Southeast Asia’s digital economy continues to surge, businesses are seeking robust technological solutions to support their growth. The region is emerging as the world’s most rapidly expanding online market, with a staggering 125,000 new users gain access to the Internet each day. Projections suggest that the burgeoning ASEAN digital economy will contribute an additional US$1 trillion to the regional Gross Domestic Product (GDP) over the coming decade.

Database 114
article thumbnail

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.

article thumbnail

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
article thumbnail

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.

article thumbnail

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.

article thumbnail

AI Startups Dominate Q2 2024 Venture Capital Landscape Amid Global Shifts

The Fintech Times

Global venture funding experienced an upward trend for the second consecutive quarter, climbing eight per cent quarter-over-quarter to $65.7billion in Q2 2024. Despite this increase, the number of deals continued to decline, marking the ninth straight quarter of decreases with only 6,230 deals. This figure represents less than half the deal volume recorded at its peak in Q1 2022.

AI 99
article thumbnail

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
article thumbnail

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
article thumbnail

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.