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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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Nikunj Gundaniya Product manager at Digipay.guru

Why should your business consider offering prepaid cards and digital wallets?

In this tech-savvy financial landscape, businesses like yours that provide digital payment services are under increasing pressure to stay competitive by offering more flexible, convenient, and secure payment options. If you are dealing with digital wallet services and prepaid card solutions, there's nothing like prepaid cards vs digital wallets

17 September 2024 /retail /inclusion

Nikunj Gundaniya Product manager at Digipay.guru

Key considerations for selecting a cross-border payment solution in the financial industry

Businesses trying to reach out and interact with global customers depend on cross-border financial transactions. Your business's ability to guarantee flawless, low-cost, safe transactions depends on choosing the correct cross-border payment system. A reliable cross-border payment solution is a necessary part of your financial strategy. It is more

16 September 2024 /retail /inclusion

Greta Ranonyte CEO at Fintech Hub LT

Specialised Banks in Lithuania – Growing Competition and New Opportunities for Consumers

In the Lithuanian media we often hear discussions about the possible entry of large foreign banks into our country. There is also public opinion that the banking sector lacks diversity, and that increased competition could improve borrowing opportunities. The arrival of new international banks in Lithuania to improve the consumer environment is a ...

16 September 2024 /predictions

Adam Richardson Head of Payments Architecture at Icon Solutions

Stability First: Exploring the Bank of England’s Approach to Payments Innovation

On 30th July, the Bank of England (BoE) published a new discussion paper outlining its approach to innovation in money and payments. The BoE’s goals are to maintain stability, trust and confidence in sterling. Its approach therefore concentrates on ensuring that electronic payments, however they are made, are settled in money held at the Bank. The...

12 September 2024 /payments

Nikunj Gundaniya Product manager at Digipay.guru

The importance of transparency in reducing fraud in cross-border payments

Cross-border payments are now constituting most of the global economy. Whether you are ordering products and services online through cross-border transactions, remitting money to relatives overseas or even providing cross-border transaction services, cash transferability is absolutely essential. However, this relative increase in connectivity also...

12 September 2024 /retail /inclusion

Kyrylo Reitor Chief Marketing Officer at International Fintech Business

Inside the Banking System: How Correspondent Accounts Work

A correspondent bank account is a vital system of relationships between financial institutions that facilitates international payments. Here’s a breakdown of the types and benefits of these accounts: Types of Correspondent Accounts 1. Nostro Account: An account a bank holds with a foreign bank. For instance, a Ukrainian bank may have a Nostro accou...

11 September 2024 /regulation /wholesale

Nikunj Gundaniya Product manager at Digipay.guru

The role of digital wallets in modernizing digital payment systems

With the digital age fast approaching, businesses and consumers see a major shift in how payments are made. Digital wallets have altered the ecosystem, making it possible for people to pay faster and safer with higher efficiency than conventional transaction methods. To stay relevant and compete in today´s market your business must embrace digital...

10 September 2024 /payments /inclusion

Kyrylo Reitor Chief Marketing Officer at International Fintech Business

MasterCard: Your Partner in Growth

Mastercard is more than a payment processor; it's a strategic ally for businesses aiming to expand their reach, enhance customer satisfaction, and optimize operations. Key Benefits of Mastercard Integration: Global Market Access: Tap into a vast customer base across the world, increasing your revenue potential. Unparalleled Security: Safeguard yo...

23 August 2024 /payments /wholesale

Nick Green Director at Purple Patch Broking Ltd

Citi's $136M fine: A stark reminder of data's critical role in risk management

Imagine losing $136 million in a single day. That's the harsh reality Citi faced recently, courtesy of US regulators. Why? A key reason was due to poor data and risk management. This eye-watering fine isn't just a Citi problem. It's a wake-up call for the entire financial services industry. This hefty penalty stems from Citi's failure to address lo...

22 August 2024 /regulation /retail

Nick Green Director at Purple Patch Broking Ltd

UK credit markets: Adapting to global risk management trends

No longer operating in isolation, the UK credit market is now impacted by global risk management trends. In recent years, global impacts have changed how credit risk is assessed, managed, and regulated in the UK. It’s affecting credit providers of all sizes, from traditional banks to innovative fintech startups. While this may pose challenges, it ...

20 August 2024 /regulation /retail