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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

founded 24 Jan 2023

Julija Jevstignejeva

Banking infrastructure for fintech, e-com and busi

Magnetiq Bank

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Ken Wan Senior Solutions Architect at SAS

Harnessing the Power of Monetary Oversight to Tackle Sophisticated Financial Fraud

Thank you to technological advances, it is becoming increasingly convenient for consumers to carry out online transactions, such as online purchases and money transfers by clicking on a link or using a mobile phone number (authorised push payments). On the other hand, the increasing acceptance of online transactions makes it easier for fraudsters ...

11 January 2024 /regulation /crime

Raktim Singh Senior Industry Principal at Infosys

On Demand Pay

"On-demand pay" allows employees to request a portion of their compensation before the next pay period. This is especially beneficial for personnel who may encounter unanticipated financial obligations. The provision of "on-demand pay" grants personnel the flexibility to withdraw accrued wages at their preferred time. Along with...

10 January 2024 /payments /retail

Shiv Nanda Content Strategist at https://www.financialexpress.com/

AML in Banking: Why and How It’s Essential?

Organizations must use AML in the banking sector to avoid any illegal activities and secure essential data. It’s much needed in the digital landscape as imposters are also using advanced illegal means to combat the AML process. Securing users from terrorism and drug trafficking is essential in the digital age. Above mentioned conditions mandate ...

09 January 2024

Iain Swaine Director EMEA, Global Advisory at BioCatch

Most Surprising Fraud Scams and What to Expect in 2024

Fraudsters are fickle. What’s new is old in the world of cybercrime, with fraudsters often just repackaging up an old attack with a new bow. But it is for this very reason that it is so difficult to predict the next move they’ll make. Recently, we reached out to a team of industry experts and practitioners to get their perspective on one question...

08 January 2024 /payments /crime

Alex Kreger Founder & CEO at UXDA

Specifics of UX consultants and fintech designers in the banking industry

Choosing the right fintech designer and UX consultant for a financial company's digital product is crucial for building a great service and a solid and positive financial brand image. The Pareto principle states that 20% of efforts impact 80% of success. In terms of digital financial products, actions related to user experience (UX) have the bigge...

18 December 2023 /people /retail

James Barker CEO at HIVE

Monzo vs Chase vs Revolut: Battle of the Embedded Wealth solutions

Banks are finally starting to adopt wealth management alongside their daily banking capabilities. Frankly, it's about time! The notion that a bank relationship would be limited to spending and borrowing, without helping to invest and grow, has for a long time struck me as fundamentally flawed. With the adoption of embedded wealth management, banks...

18 December 2023 /wealth /retail

Nick Green Director at Purple Patch Broking Ltd

The DOs and DON’Ts of credit data contracts

When it comes to credit data contracts, it’s not just about striking a deal on price; financial services procurement teams need to consider a range of factors to make them strategically aligned with evolving needs. By understanding the nuances involved, you can ensure that your financial institution is positioned to respond dynamically to market ch...

12 December 2023 /regulation /retail

Kanika Hope Chief Strategy Officer at Temenos

An uncertain future for challenger banks

Challengers face an uncertain future. Some will run out of cash, some will get acquired by incumbents or even the more successful challengers, and then there are those that will succeed independently. So what are the possible outcomes? Shut Down: Of ~630 launches since 2010, ~180 challenger banks have ceased operations due to lack of sustainable r...

11 December 2023 /startups /predictions

Ben Goldin Founder and CEO at Plumery

2023: A year of banking innovation

As we reach the end of another eventful year in banking, it’s time to take stock and reflect. From the accelerated fall of high street bank empires, the ongoing fight for market share from both incumbents and their challenger peers, and how everyone is harnessing the power of AI, it’s been quite a ride. Here we give a run-down of some of the most...

11 December 2023 /retail /predictions

Alex Kreger Founder & CEO at UXDA

New business strategy formula: Improve customer engagement in banking

Customer engagement in banking refers to the interactions and relationships between a financial brand and its customers that cultivate a sense of loyalty, involvement, and investment in the bank's products and services. It is a measure of how involved and committed customers are to the financial brand and how much effort they are ready to put into...

11 December 2023 /retail /identity