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For all their love and affection for A2A RTPs, customers don't seem to be ready to pay for the FPSs and UPIs and Zelles of the world, and regs like ZeroMDR in some jurisdictions like India don't even require merchants to pay for them.  

Against that backdrop, smart move for banks might be to ignore scam prevention solutions in A2A RTP and point payors to the UK Supreme Court's latest verdict in favor of Barclays in APP reimbursement claims?

Great post!

Ex. 1 will flesh out cases of what Malcom Gladwell called “really sleazy stuff in footnote 42" that went unnoticed in the past because "if you want to know more about it, ask us.’ And, gee, that’s the thing, nobody did.”

Alexa Maxis - me included - used to fantasize about Ex. 2 without realizing that it needs way more than just gamechaming voice recognition technology. Hopefully, LLM + LDM has what it takes.

Ex. 3 seems more like the use of conventional Modeling + Simulation techniques. Is it a case of repackaging "old wine in new AI bottle" or do you really see a significant value add from AI for this usage scenario? (Being in marketing, the former is as right an answer to me as the latter!)

PS: Also thanks for using soccer analogies, which I could totally get unlike most sports-laced writings I've come across that binge on baseball, a sport I'm totally unfamiliar with!

YaaY kudos to UK Supreme Court for overturning senseless Drunk Under Lamp Post regulation in APP Scam.

Having implemented FPS for a Top 5 UK bank, I'm aware that a bank is liable for a fine if it DOES NOT execute a payment authorized by a customer. Going by that, I've been aghast at widespread demands for banks to compensate customers for processing payments authorized by victims of APP Scam. 

When most people seem to have forgotten the basics of payments, I'm glad that the UK Supreme Court remembered it.

I hope this verdict sets the stage for the implementation of my Three Strike Rule To Eliminate Cybercrime.

"Fincumbent" companies like Accenture, IBM, and TCS have partnered with banks to supply banking technology for decades without offering banking products that compete with banks.

"Fintech" companies originally postured to disrupt banks by offering banking products that competed with banks. Having flopped in that endeavor, they're chanting the partnership mantra as though they invented it. 

Banks are too smart not to see through their ruse as a self-preservation tactic.  

For Fintechs, this is the first rodeo. TBH they stand no chance at beating Fincumbents who have been playing this game for decades. IMO spending money on SOC2 GDPR etc. is throwing more good money after bad but it's up to their investors to take that call. 

I'm guessing the banks were only doing their job, it's not their fault if regulators add more and more compliance burden to their job.

"Blockchain, undeniably, has become a buzzword in recent years."

Has it now?

I thought Blockchain undeniably STOPPED being a buzzword these days and ceded that position to AI / LLM lately. 

In 2018, one of the early pilots for enterprise blockchain apps I covered in my post Will You, Won't You, Will You, Won't You Get Your Blockchain App? was automatically brick a car if the owner was late on loan repayments.

Five years later, I don't know of a single blockchain app of this nature in production but, interestingly, there are a few NON-blockchain apps in this space now e.g. Ford Motors.

There have always been (A) registered investment advisors, (B) unregistered finfluencers (C) registered / unregistered roboadvisors. 

Now, there's (D) deepfake of A.

How long until there's (E) None of the above, er, deepfake of B and C!!!

Is this different from SEPA Credit Instant, which also I believe supports instant crossborder payments across EU countries and has been around for a few years?

Interestingly, at a Financial Brand podcast I listened to yesterday, TransUnion folks were saying, current snapshot data provides a very limited perspective to lenders and that trended / historical data provides a better basis for underwriting loans! 

Keen to know what you exactly mean by realtime data: (A) Realtime access to current snapshot data only OR (B) Realtime access to current snapshot and historical data?

In Open Banking: EU v. USA, I pointed out that A2A payments have weak value proposition in markets like UK that have high credit card penetration, which is why they failed to go mainstream before. I also predicted that Open Banking is unlikely to change that. 

Therefore, I'm not at all surprised by "Open Banking payments... are dwarfed by more traditional payment options like cards or direct debits."

The lukewarm reception of Open Banking Payments has nothing to do with success or failure of Open Banking. The problem is that the basic method of payment is a solution seeking a problem in markets like UK, and Open Banking was never going to change that.