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Banking

Banks nowadays are in stiff competition for human resources with fintech. The financial technology sector often offers higher pay. Still, the prospects of many such start-ups are difficult to forecast – they are as likely to occupy a solid niche as they are to go bust. Stable companies in Latvia are only a handful. Primarily, fintech players active in Latvia are headquartered in foreign countries – the United Kingdom, to name one – despite maintaining offices in Riga and employing staff in Latvia

originally founded 24 Jan 2023

Taken over by Terence Creighton

Head of Retail Banking Delivery

GFT Financial

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Raj Kumar Lead - Digital Marketing at Kumaran Systems

How Modernizing Mainframe Infrastructure Lowers TCO for Banks

For decades, mainframes have powered the core operations of banks around the world. They remain integral to banking processes like transaction processing, record keeping, and regulatory compliance due to their stability, scalability, and reliability. Even with their advantages, old mainframe systems can be costly and complicated. This is especiall

06 November 2024 /retail /cloud

Prashant Bhardwaj Innovation Manager at Crif

Digital Arrest: A New Frontier in Cybercrime and Its Ripple Effects on Consumer Trust

Digital arrest scams have emerged as a significant threat in the digital landscape, impacting consumer confidence and financial stability. These scams not only result in substantial financial losses but also erode trust in digital payment platforms, which is crucial for the growth of e-commerce and online banking. As financial institutions naviga

30 October 2024 /security /crime

Luke Allchin Director - North America at RFI Global

The Gig Economy and the Looming Retirement Crisis

The modern workforce is rapidly evolving, and with it, so is the way people plan for retirement. The days of working 9-to-5 in a full-time job with employer-sponsored benefits are becoming less common. Instead, we’re seeing the rise of the gig economy, where freelance, contract, and part-time work have replaced traditional employment for millions ...

28 October 2024 /wealth /retail

Kyrylo Reitor Chief Marketing Officer at International Fintech Business

KYC and AML procedures - how to ensure compliance with international standards

Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures are essential components of a robust compliance framework for financial institutions worldwide. These procedures help to prevent financial crimes, protect the integrity of financial systems, and mitigate risks associated with illicit activities. By adhering to international standa...

24 October 2024 /payments /inclusion

Adam Preis Global Strategist at Ping Identity

How Identity Can Power CFPB’s Personal Financial Data Rights Rule

The Dawn of Open Banking in the U.S. “The CFPB’s final Section 1033 rule marks a pivotal moment for millions of consumers across the country [U.S.], who, for the first time, have a legally binding right to access and share access to their financial data,” Steve Boms, Executive Director, FDATA North America. “With the right consumer protections in...

24 October 2024 /retail /identity

Steve Morgan Banking Industry Market Lead at Pegasystems

Embracing the Future: Navigating Legacy Platform Transformation in Banking

In the ever-evolving landscape of the banking sector, the pressure to stay ahead of technological advancements while maintaining robust, secure services is a constant challenge. A significant aspect of this evolution is the overhaul of legacy platforms. As banks adapt to meet modern demands such as enhanced digital user experiences, streamlined pr...

23 October 2024 /ai /retail

Retired Member

Challenges and Opportunities for Conversational AI in Banking Today

Conversational AI is transforming customer interactions within the banking sector. By automating communication and personalizing user experiences, banks are adopting AI-powered chatbots, voice assistants, and other tools to streamline services. While the potential is vast, the technology also presents challenges. This article explores four major c...

17 October 2024 /ai

Steve Morgan Banking Industry Market Lead at Pegasystems

Understanding and Mitigating Today’s Banking App Threats

Over the past year, UK financial services reported an increase in cyber security breaches, a trend replicated globally. The sector has always been particularly attractive to cybercriminals due to the huge amounts of sensitive financial information it holds. So much so that threats have tripled in number compared to previous years. Advanced techno...

16 October 2024 /ai /retail

Nikunj Gundaniya Product manager at Digipay.guru

How NFC Technology Enhances Payment Security and Efficiency

Near Field Communication (NFC) technology is transforming business transaction handling and offering a safe and quick payment solution. As a business owner, you understand the need to provide your customers with easy payment choices. The global NFC market size is projected to reach USD 34.9 billion by 2025, at a CAGR of 14.2% during the forecast p...

14 October 2024 /payments /inclusion

Nikunj Gundaniya Product manager at Digipay.guru

The Role of Digital Wallets in Streamlining Online Payments

The digital economy is forcing businesses to simplify payment processes by using digital wallet solutions. Online transactions can be easily handled with digital wallets—a convenient & safe approach. Including digital wallet technologies in your business processes will help greatly improve the customer experience, cut transaction times, a

14 October 2024 /payments /inclusion