362 Results from 2021, /payments
John Bertrand MD at Tec 8 Limited
APP (Authorised Push Payments) and taking control of bank accounts are 54% of the £1.26 billion fraud in 2021. Given the sheer volume of scams being generated, 70% of people with mobile phones have receive a text message claiming to be, for example, from Royal Mail requesting a small payment for parcel delivery. These scams, as they expand, could m...
04 July 2021 /payments /crime Banking Strategy, Digital and Transformation
Retired Member
By Nick Raper, Director at Nuapay UK Open Banking is a buzzword used almost as often as ‘challenger banks’ or ‘bitcoin’. And much like the rise of cryptocurrencies, few consumers truly understand the full scope of what Open Banking offers. Arguably, though, that’s not a concern if the services and benefits of using Open Banking are made readily a...
02 July 2021 /payments /retail Open Banking
Abhinav Paliwal CEO at PayNet Systems
It could be 5 - 25% more expensive to acquire new customers than to retain existing ones. New customers have to go through your entire customer acquisition funnel before becoming a customer, which is expensive and time-consuming. On the other hand, customer retention is not only cost-effective but also profitable. According to Frederick Reichh
02 July 2021 /payments /retail Analytics in Banking
Shagun Varshney Senior Product Manager at Signifyd
Risk professionals and retail leaders for months have been fixated on the new strong customer authentication (SCA) requirements that arrived with PSD2 — and rightfully so. The new payments regulation, set for enforcement in the UK in March 2022, is a once-in-a-generation change with the potential to massively disrupt an enterprise or to push an ent...
01 July 2021 /payments /regulation Digital Sales
Austin Talley Founder and CEO at Everyware
Travel is coming back in a big way as restrictions are lifted and people are able to scratch that wanderlust itch. American Airlines expects 47 of its top 50 corporate accounts to start traveling again this year in a promising sign for business travel (Wall Street Journal), and Hilton's CEO said that Saturday night of Memorial Day weekend was the ...
30 June 2021 /payments /predictions
Laura Francis Head of Brand and Marketing at Form3
The global rise of digital banks, including Monzo, Starling, N26, Volt, Airwallex and Revolut, has continued at pace and as a result, all have successfully managed to acquire sizable customer bases since their respective launches over the past ten years. Their success can be attributed to a mixture of extraordinary customer service, perfect timin...
30 June 2021 /payments /cloud Platform Payment Technology
Sean Salloux CEO at Sentinel Digital
Digital banking vs digital banking platforms—the difference explained plus their features and how they work. Today, fintech firms and digital banks have become major disruptors of banking services and have transformed traditional banking and payments methods of old. But what exactly lies behind the scenes, what are the main functionalities, and wha...
30 June 2021 /payments /crypto Blockchain in Banking and Financial Services
Aleksandr Khelemskiy Product owner at Covery.ai
Every business tries to optimize its profitability by maxing out the revenues and minimizing the expenses. Some expenses (like logistics, product storage, or service development costs) can be managed internally. Unfortunately, there are lots of external expenses like chargebacks, which a business cannot control. While there will always be legitima...
29 June 2021 /security /payments Information Security
Steve Goddard FME at Featurespace
A recent survey found that 93% of respondents agreed that fraudsters have become more diverse and that the speed of innovation has increased with it, resulting in greater complexity when detecting their behaviour. This stat flashed up in my mind on one of many zoom calls I attend, engaging with peers to try and get some normalcy in my life, when ...
29 June 2021 /payments /crime Transaction Fraud Systems and Analysis
David Fagleman Director at Enryo
Last Wednesday the new polymer £50 banknote, featuring Alan Turing, entered circulation, representing the final phase of UK currency modernisation, a project that started in 2015 with the polymer £5, followed by the 12-sided £1 coin (2016), the polymer £10 (2017) and polymer £20 (2020). With Scottish and Northern Irish note issuers also modernisi...
28 June 2021 /payments /inclusion Financial Inclusion
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