Corporate banking: work smarter, not harder. On user self-onboarding
Why would a bank let their corporates indulge in setting up system privileges online – without keeping close tabs on the process? Here’s why.
Analysis
OCC Isn’t Ready for Fintech Charter Applications Just Yet
Acting Comptroller of the Currency Keith Noreika told FinovateFall attendees in New York this week that the agency is still in the exploratory phase of its fintech charter, according to news reports.
U.K. to Get New Payment Systems Operator by Year’s End
Payment Systems Regulator (PSR) and Bank of England have revealed that the U.K. will be getting the New Payment Systems Operator by the end of 2017, which the PSR says will be an important step in streamlining the U.K.’s payment systems and fostering competition and innovation.
Leveraging AI and Machine Learning to Enhance the Customer Experience
As big data just keeps getting bigger, banks, retailers and every other kind of company must have more sophisticated tools to understand and predict what customers want and need.
Did Apple Just Reinvent Retail Again?
Forget facial scans or a watch that’s not tethered to the phone. If you’re a bank or payments company, you’d best be looking at Apple’s plans for the transformation of retail.
Has the face of payments changed forever?
Marieke Flament, European MD at Circle, discusses how technology is transforming the global payments landscape.
What You Need to Know about Pa.’s Money Transmitter License Changes
The introduction of new bond requirements for money transmitters in Pennsylvania is in line with an overall trend across states to enforce stricter conditions on money transmitter license holders and applicants. See what the licensing requirements mean for your business.
Payments: where have all the correspondents gone?
At the recent G20 meeting in Germany, Financial Stability Board (FSB) briefed leaders on its efforts to arrest the decline in correspondent banking relationships. FSB also presented the results of a survey of more than 300 banks in 50 countries, supplemented by Swift payments data, which showed that the number of correspondent banking relationships continues to decline globally.
The Convergence of Prepaid and Fintech Means More Innovation to Come
After his first few months at the helm of the Network Branded Prepaid Card Association, Brian Tate talks about prepaid’s role alongside fintech in the next generation of payments innovation.
MiFID II compliance: the essential confluence of regulation, compliance and artificial intelligence
With the July 2017 publication of its MiFID II Policy Statement, the Financial Conduct Authority (FCA) has signaled the final countdown to the most sweeping changes of governance, protection and transparency for a generation.
FIDO Alliance Addresses PSD2 Screen-Scraping Debate
Despite calls from fintechs to permit screen scraping under PSD2, the FIDO Alliance sees some serious flaws with that approach, including security and privacy issues.
The future of cross-currency payments
The landscape of cross-currency (FX) payments is taking on a whole new look – creating challenges for corporate financial managers and the need for new banking solutions.
Factors in the Long Wait for EMV and Contactless in the U.S.
As some celebrate 10 years of contactless payments, Bastian Knoppers discusses why cards (not mobile wallets) are still king outside the U.S. and what it will take for the U.S. to catch up to the rest of the world on tap-and-go payments.
Overcoming board-level cybersecurity obstacles in the financial services industry
Today’s financial services institutions are challenged to keep pace with changing and covert cybersecurity threats. Since financial institutions are among some of the most appealing targets for hackers, it is critical for these organisations to remain extra vigilant about securing confidential information.
Top 5 Best Challenger Banks: Spotlight Profiles
Our Top 5 Challenger Bank spotlight series is complete. Get to know the challengers—Cashplus, Varo Money, Revolut, Capital on Tap and Fidor Bank—looking to shake up the status quo with tech and a superior customer experience.
Fintech: why commercial banks must follow retail banking’s lead
It’s been seen as the ultimate clash of cultures. The baseball cap and T-shirt versus the formal suit and tie; the young, quick-thinking fintech versus the risk-averse multinational corporate; David versus Goliath.
Banks, are you a passive data donor or a proactive data seeker?
With the arrival of new regulations, there are two main options for banks: they can choose to become either “data donors” or “data seekers”. These two positions imply opposite approaches to the new banking market that is in prospect, and sharply contrasting mentalities.
Wells Fargo Fake Bank Account Scandal Grows
The scandal of employees at Wells Fargo creating 2.1 million fake bank accounts and credit card numbers to boost sales figures has just gotten bigger.
Fintech: beware the fake news
In every aspect of life, sentiment overshoots. We overbuy and oversell securities. The political pendulum swings from left to right. Shops run out of ultra-fashionable goods only to heavily discount excess stock a couple months later. Ben Robinson, chief strategy officer at Temenos, explains how this is not a new phenomenon, but has got worse […]
Top 5 Best Challenger Banks: Fidor Bank
Our final spotlight article for our Top 5 Best Challenger Banks list is the only actual bank in the bunch. See how Germany-based Fidor Bank stacks up against the high street banks and its nonbank competitors.
Fintech Trends: the Expected, Unexpected and What’s Next at FinovateFall
Get a sneak peek at what trends will shape the discussion at FinovateFall, including a few things you might not expect.
Play in Our Sandbox: Why Galileo Processing Opened Its APIs to All
Summer’s almost over, but there’s still time to play in the sand. Our decision to open our sandbox for all developers, not just clients, is a vital move in supporting creativity and innovation in payments. And, it’s speeding time to market.
Top 5 Best Challenger Banks: Cashplus
Meet our No. 1 on the Top 5 Best Challenger Banks list and find out why CEO Rich Wagner says the company belongs there.
Five solutions for the challenges women face in tech today
In the most recent InsurTech Bytes podcast, Sarah Greasley, CTO, Direct Line Group, opened up about her experience as a woman in fintech, the challenges and the solutions. FinTech Futures (Banking Technology’s sister company) uncovered the solutions for five of the key hurdles in her career. 1: Entrepreneurship and empowering risk taking Challenge: From a […]
How the new EU payments regulation will help prevent fraud
Scott McInnes, partner at international law firm Bird & Bird, discusses how the Second Payments Services Directive (PSD2) will affect companies and what requirements industry players need to know.
Keys to Selecting Development Partners for Your Payments Project
It’s hard to imagine a fintech or payments company that today doesn’t have at least one key business initiative hinging on some kind of software development. Before you sign on the dotted line with a developer, here’s what you need to consider.
Blockchain Roundup: The Good, the Bad and the Ugly
Nations, platforms and some bad news in our latest blockchain and bitcoin roundup. Find out more about the SEC’S suspension of First Bitcoin Capital Corp., an initial coin offering for cryptocurrency exchange platform KyberNetwork and more.
Top 5 Best Challenger Banks: Varo Money
“There’s a reason that the bank of the future hasn’t been created yet—it’s extremely difficult,” says Top 5 Best Challenger Bank Varo Money. See if you think they’ve got what it takes to rise to the challenge.
Simplify Back-to-School Season with E-Payments
Prepaid cards and alias-based payments that rely on email or mobile phone numbers can offer students and colleges and universities significant benefits over traditional check disbursement of financial aid.
Why I believe the US State Department is wrong about mobile money in Africa
The US Department of State recently released a report that identified mobile money services as particularly susceptible to money laundering in Africa. It cites services like M-PESA and M-Shwari as “services [that] remain vulnerable to money laundering activities”.
3 Ways to Drive User Experience Success and Value
Designing the user experience consumers expect in digital banking is less about seeing what sticks and more about seeing what stands up to real-world human examination and use.
Juniper Predicts Major Global Shift to Contactless on Heels of U.S. EMV Push
A new study from Juniper Research is forecasting that more than half (53 percent) of global transactions at the point of sale will be contactless within five years, compared with just 15 percent this year.
Cybersecurity progress will require speaking the right language
Elizabeth Denham, the UK’s information commissioner, made an astute point when she recently called for senior bank executives to get the same cybersecurity training as front-line staff, following the global WannaCry ransomware attack. But implementing the kind of comprehensive cyber defence strategy which includes such training will require a monumental culture shift at the top.
Consumers Union Calls for More Prepaid Regs; NAFCU Wants Them Rescinded
Plagued by delays, threatened by Congressional repeal and finally opened to further comment and changes, the CFPB’s final rule on prepaid accounts now has consumer groups calling for the bureau to “strengthen” consumer protections while a credit union trade group wants the rule rescinded.
App Economy Dodges Bullet with Uber Court Victory
It’s a rare ray of sunshine for the embattled Uber, as it won a key fight in the U.S. Second Court of Appeals, which ruled its terms and conditions (Ts & Cs) are legally binding
Q&A with Mobey Forum’s ED Maikki Frisk
Six months after coming on board to lead the digital financial services trade association, Maikki Frisk talks about how to drive mobile payments adoption, the implications of Brexit and PSD2, and the ultimate importance of a good user experience.
Is fintech to banking what craft ale is to brewing?
Is fintech to banking what craft ale is to brewing? If so, what can banks learn from the rise and rise of craft ale? Aden Davies, principal consultant at ABZD, looks at ten trends seen in the craft ale industry that have interesting parallels with the rise of fintech.
Is Your Wallet Ready for 2020?
It’s safe to say mobile is just getting started as a payments form factor, but don’t chuck your plastic cards just yet. Personalization, including QR codes, can boost usage and help you stay top of wallet.
Mobile Contactless Hits £370 Million in U.K. in H1 2017
Mobile contactless transactions in the U.K. topped £370 million (US$476 million) in the first six months of 2017, a whopping 336 percent year-on-year increase, according to the latest transaction data from payments processor Worldpay. (Infographic included.)
Physical containers – reused in novel ways. Does that include nextgen branch offices?
With standards as simple as what we see with shipping containers, creative folks will begin considering options for almost anything that can benefit from these containers being mobile. The user experience that today we enjoy with mobile devices has changed the very heart of today’s data centre even as we see on-premise IT moving to clouds. Couldn’t a case be made that such flexibility be embraced even more aggressively in the future and couldn’t that change the very way we view banking as it continues to transform?
