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tl;dr but one quick correction: Person making a payment is called "Payor", person receiving a payment is called "Payee".

You might want to fix your following sentence accordingly: "Predominantly, fraud prevention measures with real-time payments have focused on the person making the payment, known as the "payee"." 

"overturning conventional wisdom"? I don't think so.

In fact PNC's investment in branch network resonates strongly with the conventional wisdom that I keep dishing out unsolicitedly in my blog e.g. Secret Of Survival Of Bank Branches.

My unsolicited $0.02: Hindenburg Research should stay away from tech.

By pointing out instances of "Fake It Till You Make It", its previous hit job on Square / Block betrayed ignorance of how things have always worked in Silicon Valley.

If failed implementations of software were such a big deal in IT industry, half of the software companies on the planet will be "forever scarred"! 

If HR thinks Temenos is roundtripping, I wonder what it'd say about e.g. Microsoft's $200M investment in Flipkart in the form of building Datacenter and $9B in OpenAI by way of Azure Credits.

Height of disinformation and depth of shill. 

Traditional banks might not have outsourced tech to YOUR company but they have been outsourcing tech to the Accentures and IBMs and TCSs for 50+ years. So much so that, for a lot of IT companies, BFSI is the largest industry vertical by revenues.

As banks dumben down their frontline human staff, a lot of intelligence has moved to their systems. While it may not serve your company's interest, the need for banks to take full control of their tech stack is the exact opposite of outdated. 

You probably don't know this that but soon after he took over as CEO of JPMC, Jamie Dimon cancelled a multibillion dollar contract with IBM, saying, technology is a core competence that should be controlled by the bank internally. That's probably why JPMC has thrashed Wannabe Challengers and Neobanks.

My counterview: Calling BS Of Bank Fintech Partnership.

No point. Like Open Banking / PSD, SCA and many other EU regs, GDPR also throttles innovation and adds compliance burden without providing any way to boost revenue to recoup the higher compliance cost. On top of that, many of them don't even cover the basics too well e.g. After years of tomtoming API access to banking data, EU Open Banking reg has not outlawed screen scraping or credential sharing after dissing them for years when the reg was in WIP status.

Banks used tokens, bingo cards, and many other "nextgen fintech" authentication solutions before RBI permitted / mandated SMS OTP. Like I still have a token from HSBC. Banks lapped up OTP since it let them transfer a bulk of their 2FA compliance cost to customers. Having tasted blood, I doubt if too many banks will go back to their costlier, pre-OTP 2FA alternative.  

Look forward to Jamie D proclaiming "We're an AI company, just with a banking license":)

Strongly disagree.

By its charter, media can publish any information of any public entity, and the definition of public and information are very wide in this context. This right is protected by First Amendment of the Constitution in USA and similar provisions in other democracies. Not legal advice but "public" extends to private limited companies and even individuals who are celebrities and "information" extends to rumors and even MNPI based on what media self-defines as "reliable sources". It works on the credo "the public has a right to know". I don't know why lawmakers felt that the public has a right to know the affairs of private limited companies and celebrities but that's not the media's problem.

There are zillion examples where media has used its right. (1) USA: The Information's reporting on the behind-the-scenes happenings in Open AI, a non publicly traded company, in the hours after the firing of its CEO Sam Altman (2) India: Reporting of financial results of Byju's, a private limtied company (3) Paparazzi photographs of celebrities inside their house. 

This is one of the major differences between media and other industries. To be sure, in return for this privilege, media is liable to be fined and punished in other ways if its reporting contains material defects.

PS: None of this is legal advice.

Trillion data points? Can we get a sample of just one billion of them??

As I highlighted in Open Banking: EU v. USA, "there has been a slew of A2A payment apps in EU / UK during the last 10 years e.g. PayByBank, PayM, PingIt, Zapp in UK, iDEAL in the Netherland, and EBA myBank in EU. They were all built without Open Banking. The ones that succeeded did so without Open Banking. I'm guessing that the ones that failed will continue to fail even with Open Banking."

While "changing economic conditions" is the Politically Correct Fall Guy for every failure now, I wonder why KikaPay, founded in 2018, didn't flourish during the booming economic times for tech of 2020-2022.