Latest Innovation News: Finextra Research

How CES Informs U.S. Bank's Continuous Innovation

Attending CES in Las Vegas, Don Relyea, Chief Innovation Officer, U.S. Bank, spoke to FinextraTV about why an electronics show like CES is so instrumental to banking. As well as noting the increase in financial firms attending, Relyea describes how technological innovation will intersect with the future of banking and financial services in 2025.

15 January 2025

Finextra TV/regulation

For Embedded Finance, Innovation & Compliance Can Work Hand in Hand

As we look to 2025, one area of Fintech focus that continues to gain interest is embedded finance. Renata Caine, General Manager, Banking as a Service, Green Dot Corporation, in a FinextraTV interview, shared her opinions on how this topic is evolving, as well supplying statistics on embedded finance’s investment trends from Green Dot’s own report. As a part of this conversation, Caine shares her belief that innovation is not at odds with compliance but hand in hand with it.

18 December 2024

Finextra TV/wholesale

B2B Procurement: Challenges and Opportunities for Innovation

Join FinextraTV as Romain Mialane, Direct to Corporate Lead, Visa, and Ritesh Jain, Business Head - UK and Europe Commercial Cards, Citi, explore Visa's recently commissioned market research on B2B procurement in Europe and the challenges and opportunities for innovation in this broader context of treasury. Further, the pair discuss how notable trends and patterns can lead to strategies to address emerging needs, such as Procure-to-Pay capabilities to streamline existing processes and reduce costs through consolidated software solutions or best of breed models. Educating viewers about the true definition of working capital, the conversation moves on to the role of treasury and suppliers and how the integration of enhanced transparency, advanced automation, and faster payment capabilities can bolster the relationships in the B2B procurement landscape.

27 November 2024

Finextra TV/markets

Robinhood: Bringing US Opportunities to a UK Audience

Growth is regularly on the mind of many companies, especially within the financial industry. It does, however, come with a multitude of potential risks and pitfalls. Robinhood, a trading and investing app based in the US launched in the UK earlier this year. In order to ensure their success, they approached the task with a growth mindset, but a local focus. As part of the Predict 2025 series, Finextra invited Robinhood’s UK president Jordan Sinclair to the virtual studio. Some of Sinclair’s key points were around greater global access to US information, a strong system of financial education and a customer-focussed process of development.

25 November 2024

Finextra TV/ai

Immediate Generative AI Use Cases in Banking and Financial Services

Roshan Shetty, BFSI & Public Services Head – Americas, Tech Mahindra and Michael Ruttledge, Chief Information Officer, Head of Enterprise Technology & Security, Citizens Bank, join FinextraTV to opine progress since ChatGPT was launched two years ago. Despite dominating headlines, only 6% of the banking, financial services and insurance industries have truly leveraged generative AI algorithms for business models, while 46% are merely passive observers. Work is being done in terms of concepts being considered and pilots being pushed through, but the reality – as the pair explain – is that these sectors are heavily regulated and change management and data privacy must be prioritised to ensure the appropriate guardrails are in place so that the industry can indeed move forward from this test and learn era of generative AI.

19 November 2024

Finextra TV/Sibos

Latest Developments in Real Time Payments: Innovation and Interoperability

In an interview with FinextraTV in the lead-up to Sibos 2024 in Beijing, China, Peter Reynolds, Executive Vice President Real Time Payments, Mastercard, highlights how 2024 has welcomed a new era with 100 countries now with live real time payments systems, covering 87% of the world’s GDP. Exploring the substantial growth across account-to-account payments and the conversion of cash to digital payments, the interview examines how the financial ecosystem is opening with digital wallet payments, QR Code acceptance and the promise of interoperability.

24 October 2024

Finextra TV/payments

Embracing the Shift: Instant Payments and Infrastructure Transformation

Michael Engel, Managing Director & VP of Banking Software at Diebold Nixdorf, highlights the growing shift from traditional to instant payments, driven by increasing demand for speed and agility in transactions. While methods like SEPA and the digital euro gain momentum, the challenge of integrating these with legacy systems persists. Engel emphasises the importance of affordable, cloud-native, microservices-based platforms to boost scalability and security, especially in e-commerce. Success stories show banks launching new services within weeks, a dramatic improvement from the previous six to nine months. As consumer expectations rise, financial institutions must balance innovation with reliability.

21 October 2024

Finextra TV/crime

Can Financial Institutions Keep Up with the $33 Billion Fraud Surge?

Reflecting on insights from last month’s Visa Payments Forum, Tareq Muhmood, SVP, Value Added Services, Europe, Visa, addresses the dramatic rise in global fraud—from $800 million in the early '90s to $33 billion in 2023. As financial institutions grapple with the increasing complexity of fraud in the digital age, the need for adopting advanced technologies like AI and real-time data analysis becomes clear. With a 50% boost in fraud detection through artificial intelligence, this interview underscores the urgency for banks and fintechs to evolve their security strategies. As fraud tactics continue to evolve, partnerships and continuous innovation are now critical for staying ahead of threats while maintaining seamless payment experiences.

15 October 2024

Finextra TV/wholesale

Reimagining Your Core: How Banks Can Thrive Amidst Rapid Technological Change

Narendra Mistry, CPTO of Universal Banking at Finastra, emphasises that banks must adapt quickly to evolving technology and customer expectations. Success lies in implementing efficient core banking systems, that enable innovation at scale and at pace, while navigating AI and data with a focus on mindset and business services. Lean systems, like those of neo and digital-only banks, are good, but long-term growth requires a clear vision, a strong culture and breadth of capabilities. For established banks with pre-existing infrastructures, symbiosis – where next gen solutions are deployed alongside existing solutions – can offer a fast way to deliver outstanding experiences, stay ahead of competitors and, when appropriate, ease transitions.

24 July 2024

Finextra TV/wholesale

Adapting to change: How financial institutions can revolutionise core banking systems

Siobhan Byron, EVP of Universal Banking at Finastra, discusses how innovation is not just limited to the neo and startup banks, indeed established banks are combining the move-fast philosophies of the emerging players with their own considerable assets. The conversation highlights the need for financial institutions to have a clear vision and strategy, find the right pace and technology for transformation, avoid high-risk methods, outline the challenges of losing market share, talent, and the ability to meet future needs if institutions fail to stay current and innovative.

24 July 2024

Finextra TV/payments

2024 Payments Trends and Adding Value

At EBAday 2024, Michael Whitehead, Head of Sales - Europe, iGTB, and Tapan Agarwal, Head of Payments Solutions, iGTB, Intellect Design Arena, focus on the range of payments trends that are circulating within the industry and what is pushing innovation forward. The pair pay close attention to European regulations that are mandating instant payments, as well as the One-Leg Out Instant Credit Transfer and the G20's bid to ensure payments get faster, cheaper and more transparent. Further, they explore how banks can build on value-added services using technologies such as Generative AI, DLT and IoT, which will evidently lead to an explosion of payments.

23 July 2024

Finextra TV/payments

How Open Banking will Enable Embedded Finance

At EBAday 2024, Afonso Eça, Appointed Executive Board Member, Banco BPI, expands on the future of open banking and embedded finance and how these two trends are transforming the financial industry. While regulatory pushes such as PSD2 led to more uptake of open banking, financial institutions continue to take advantage of what is occurring in the fintech space and move forward. The conversation also turns to how open banking is the catalyst for embedded finance and through open payments, customers and businesses alike will be able to simplify the payments journeys of small business operators.

19 July 2024

Finextra TV/payments

SEPA, ISO 20022 and the Road to Innovation and Resiliency

At EBAday 2024, Renata Vilanova Lobo, Head of Global Clearing, J.P. Morgan Payments, explores the cross-border impact of SEPA on European and global interoperability and why ISO 20022 is crucial for financial institutions. There is an urgency for financial institutions to transition because of deadlines, but also due to the great benefits this change can bring to the industry, being the biggest change in payments in the last 30 years. Resiliency plays a critical role in today's landscape and it is expanding its concept; as a result, and banks must consider geopolitics, economic downturns and unforeseen challenges on top of operational stability.

19 July 2024

Finextra TV/payments

What changes lie ahead for the future of real-time payments

At EBAday 2024, Paul Francis Walvik-Joynt, Senior Vice President, Real Time Payments, Mastercard, shares an outline of what changes lie ahead for real-time payments and what the proliferation of real-time payments means for the adoption of instant payments. It is evident that trust needs to be maintained as the industry grows and introduces new networks, ensuring organisations are remaining resilient and fraud is combatted. Further, with the advent of new real-time payments systems, opportunities are opening up for domestic and global payments, and for technologies such as AI to be leveraged.

17 July 2024

Finextra TV/startups

Fintech Collaboration in Banking and Reshaping the Industry

Join FinextraTV as Martin Bailey, Director of Innovation at Temenos, and Pritesh Ruparel, CEO at ALT21, discuss how partner ecosystems and accelerators have helped to deploy fintech solutions within banks. The pair also explore the importance of fast deployment and how it can help banks keep pace with their competitors.

12 July 2024

Finextra TV/payments

Core Banking Transformation: Enabling Future Growth at a Systemic Bank

Join FinextraTV at the Temenos Community Forum 2024 as Mick Fennell, Business Line Director - Payments, Temenos and Serge Munten, Head of Transformation, Banque Internationale à Luxembourg discuss their digital transformation project and the obstacles the bank faced when modernising core banking and payments capabilities. Scoping out the project, it is explored how BIL decided to completely revisit their IT landscape to enable the bank to manage higher transaction volumes, keep up with changing regulations and drive future growth.

12 July 2024

Finextra TV/crypto

The Potential of Programmable Payments

At EBAday 2024, Gilbert Verdian, Founder and CEO, Quant, explores how programmable payments can enhance the efficiency of both personal and business financial transactions. Highlighting the important role of the Regulated Liability Network (RLN) in the UK, the discussion turns to advancing programmable payments using both existing and tokenised bank deposits. Further, how innovations in programmable payments can reduce issues associated with failed transactions.

10 July 2024

Finextra TV/payments

Pioneering Innovation in Cross-Border Payments

Join FinextraTV as Mick Fennell, Business Line Director, Payments at Temenos, and Jan-Willem van der Schoot, Country Manager, Mastercard Netherlands, delve into the evolving landscape of cross-border payments. They discuss the current industry impacts, key challenges, and innovative solutions emerging to enhance efficiency. Learn about the driving factors behind strategic collaborations and why partnerships like the one between Temenos and Mastercard are shaping the future of global payments.

09 July 2024

Finextra TV/payments

How Composable Banking Platforms Can Support Digital Transformation in Corporate Banking

At EBAday 2024, Stefano Brega, Director & Head of Global Payments Practice, Be Consulting (Engineering Group) and Gianluca Finistauri, Head of Digital Corporate Banking & Open Banking, NEXI Group, discuss how composable banking can help financial institutions quickly adapt to changing customer needs and market conditions. Composable banking platforms offer benefits such as flexible, scalable and customisable solutions for different types of enterprises, and facilitate the creation of consistent and autonomous ecosystems that can also foster innovation through partnerships.

09 July 2024

Finextra TV/payments

Balancing Regulation with Innovation: Paving a Way Forward

At EBAday 2024, Erik Alstromer, Head of Product Europe and New Markets, Form3, comments on how financial institutions spend the majority of their time and resource on regulatory compliance and keeping up with their competitors. At EBAday, it was revealed that regulatory matters was the number one driver away from innovation, which is a disappointing revelation. The solution is two-fold: products must be built on the cloud so that change can be implemented flexibly and banks must partner with the ecosystem - gone are the days where one partner supports a financial institution with all projects.

08 July 2024