Community Last 7 days total 40

Paul Speirs

Paul Speirs Managing Director of Consumer Information Services at Experian UK&I

PSD2 turns seven: How Open Banking continues to shape the future of finance

Richard Kalas

Richard Kalas Client Solutions Director for Retail Banking at GFT Group

How IT resilient are banks?

Kajal Kashyap

Kajal Kashyap Business Development Executive at Itio Innovex Pvt. Ltd.

The Evolving Role of Payment Gateways in a Digital-First World

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Expert opinions Last 7 days total 40

Paul Speirs

Paul Speirs Managing Director of Consumer Information Services at Experian UK&I

PSD2 turns seven: How Open Banking continues to shape the future of finance

We know that open banking is a crucial component of a modern financial ecosystem, and this year is particularly pivotal for its ongoing development. Why? This month marks the seventh anniversary of the implementation of PSD2 in the UK, the framework that underpins open banking in the European Union. In addition, we will see the Data (Use and Acces...

/payments /retail

Richard Kalas

Richard Kalas Client Solutions Director for Retail Banking at GFT Group

How IT resilient are banks?

There has been in recent months a considerable focus on consumer attitudes towards specific elements of digital banking, whether that be the digitisation of savings and investment products, travel services or fraud protection. This time, however, let us examine a more holistic view on how consumers feel about the security of their bank, thei

/security /retail Banking

Kajal Kashyap

Kajal Kashyap Business Development Executive at Itio Innovex Pvt. Ltd.

The Evolving Role of Payment Gateways in a Digital-First World

As the global economy becomes increasingly digitized, the importance of seamless and secure online transactions cannot be overstated. Payment gateways have emerged as the backbone of modern commerce, facilitating efficient, secure, and scalable financial transactions across industries. This post delves into the critical role of payment gateways in...

/payments /crypto Innovation in Financial Services

Scott Smith

Scott Smith Co-founder at Fizz

Credit Building Must Be Democratized For Younger Generations

In the wake of the 2009 Credit Card Accountability, Responsibility, and Disclosure (CARD) Act, college students found themselves in a peculiar financial predicament. While the intention behind the Act was good—protecting young adults from predatory lending practices and mounting credit card debt—it inadvertently created a significant barrier for s...

/payments /startups Financial Inclusion

Paula Hunter

Paula Hunter Executive Director at Mojaloop Foundation

Improving Financial Inclusion for Women Through Open Source Innovation

Financial inclusion is a cornerstone of global development, yet women remain disproportionately excluded from the formal financial system. According to the World Bank, more than 740 million women worldwide lack access to a bank account, hindering their ability to save, borrow, or invest. This gap has far-reaching implications, not just for women b...

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Kristaps Zips

Kristaps Zips UK CEO at payabl.

Paul Speirs

Paul Speirs Managing Director of Consumer Information Services at Experian UK&I

Nelson Castellanos

Nelson Castellanos Chief Partnerships Officer at HDI Embedded

Zach Herbert

Zach Herbert CEO at Foundation

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Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

The secure way to deploy your personal and organisation AI agents

Research Total research pieces 269

Impact Study

Bank Legacy Transformation: Exploring the Solutions

Where do banks stand with legacy transformation today? What are the market factors and changing consumer demands that make transformation increasingly crucial? Legacy transformation is not a new challenge for banks. However, as technology capability continues to advance, along with it the potential for innovation and new business models serving a digital customer base, the pressure of no longer being constrained by legacy infrastructure intensifies. Despite being the central nervous system for banks’ operations for decades serving a business purpose, legacy systems have become inadequate, and those trained to use them may lack the skills needed to meet sophisticated demands for real-time and seamless experiences. Here’s how banks can decouple their systems from each other to evolve and grow, untangle technology challenges to drive digitisation, and invest in technology and employees to ensure obstacles to rapid and gradual modernisation are removed. This impact study, produced in association with Veritran, will: Consider frameworks that prioritise initiatives based on their impact; Explore specific recommendations for each of these challenges; Propose strategies on how to integrate systems that will address data silos; Highlight clear ROI examples, efficiency gains, and enhanced customer outcomes; and Emphasise that there is no need for legacy system abandonment and modernisation can be conducted gradually without disruption.

93 downloads

White Paper

UK Open Banking API Performance 2023-2024

In this fourth annual report, APIContext evaluated the performance of UK Open Banking APIs from 1 July 2023 to 30 June 2024. The UK’s Open Banking system is arguably the most advanced in the world, having been in place since at least 2018. The time in market for this ecosystem offers lessons and best practices to other countries that are looking to implement similar API-driven financial systems; as well as banks and financial institutions that seek to differentiate through quality customer experiences. In this updated report, APIContext evaluates the performance of Open Banking APIs provided by various types of financial institutions in the UK. These include the major “CMA9” banks (the nine largest banks required by UK law to provide Open Banking services), traditional High Street banks, credit card companies, building societies (similar to credit unions in the United States), and new digital banks, often called neobanks. All the data in this report are based on real API calls, having tested the APIs in real-world conditions using the same process that consumers would go through. These calls followed the FAPI (Financial-grade API) standards, which are specifically designed for securely sharing sensitive financial data. The report includes: Key analysis of the UK's Open Banking API performance 2023 - 2024 Availability and reliability of API endpoints Latency metrics (DNS, TCP connect, SSL handshake, processing, and total time) Performance by cloud provider (AWS, IBM, Azure, and Google) Comparative analysis between different bank types (CMA9, traditional, and neobanks) Cloud provider comparison and other detailed findings Key takeaways and recommendations for various players in the ecosystem

179 downloads

Event Report

AI’s Role in the US Financial Services Sector

How US organisations are balancing innovation and compliance The regulatory landscape for AI in the US is fragmented, with states proposing their own regulations. California’s recent attempt to regulate AI through SB1047, which included provisions for a kill switch and legal liabilities for tech companies, failed to pass. This illustrates the complexities and challenges in creating a unified regulatory framework across the country. Despite regulatory uncertainties, AI adoption in financial services is growing. About 50% of companies have embraced generative AI, while traditional AI applications have been integral for decades. AI has been crucial in areas such as anti-money laundering, fraud protection, and know-your-customer (KYC) processes. The full potential of AI in data management and client services is yet to be realised, with many applications still in internal testing stages. This report highlights the key takeaways of a discussion had during a Finextra webinar, hosted for the PREDICT 2025 campaign, by a panel of industry experts. It includes: An overview of how AI has been adopted across the US thus far; How generative AI has been integrated into banking; Primary concerns with AI use; and Regional perspectives and approaches to AI regulation.

129 downloads

FinextraTV

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Why Tier 2 & 3 Banks Often Struggle with AI/ML Adoption

Alongside the popularity of GenAI in modern conversation, Machine Learning is another technological innovation that continues to provide benefits in tandem. Dr Sridevi Tandley, Practice Leader, Data & Analytics in Banking, Aspire Systems in an interview with FinextraTV shared her insights into the AI/ML landscape and the greatest use cases. On top of this, she also discusses the difficulties tier 2 and tier 3 banks have implementing AI/ML into their processes and how they should lean into third-party vendors.

Long reads Total long reads 1154

Racheal Muldoon

Racheal Muldoon Partner at Charles Russell Speechlys

Understanding the DORA deadline

This piece has been co-authored by Racheal Muldoon, partner, and Hasan Almosoy, associate, both in the financial services regulation and funds team at law firm Charles Russell Speechlys. Today is the deadline for fintech firms to ensure that existing measures sufficiently hold up to the new standards imposed by the EU's Digital Operational Resilien...

/regulation

Amanda Kavanagh

Amanda Kavanagh Contributor at Jobbio

Financial services back in top 5 most flexible industries

As full five-day RTO mandates continue to make waves in companies like Amazon, Dell and AT&T, fresh headaches are also emerging. It turns out that rowing back on hybrid work has been complicated by a shortage of free desks, parking spaces, and even restricted capacity in lifts. As bullish dictums from CEOs highlight the importance of in-person ...

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Natalie Kelly

Natalie Kelly Chief Risk Officer at Visa

The future of fraud and how financial institutions can fight back

When we look at the financial services landscape, more has changed in the last five years than in the last 30, especially when it comes to financial fraud. In today’s digital, instant, cross-border world, financial crime has become a sophisticated enterprise. Recent figures from the BBC show that fraud cases have risen by 16%, with fraudsters steal...

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