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Retired Member
It started with open banking… but what does it really mean? Open banking enables customers to share their personal data with other external trusted organisations that can provide innovative apps and services tailored to their individual financial situation. Such applications may be provided by new startups and applications designed to help users ...
18 April 2023 Banking
These days, there are many travel programs available that allow people to move around from country to country with greater ease. This phenomenon has opened many different opportunities for people to explore. Over the years, many people have benefitted from migrating to new places. Some people do it because of their circumstances, while others do it...
15 April 2023 /wealth Bigger than Technology
Often, new technologies are lauded as the death of existing ones. This has been undoubtedly true in some areas. Think audio cassettes and CDs, Betamax and VHS, fax machines and email… and a host of other examples. Sometimes the market and product vendors can influence this decision but, mostly, consumers decide which technologies win based on the ...
14 April 2023 /payments /identity Biometrics
Yes.. I am talking about the AI applications - our myriad AI applications and upcoming ones whispering to humans about what to do…. how to do it…but not about the whisperers who interact with the AI chatbots. According to IDC predictions, the global AI market could reach over $500 billion by 2024 – a more than 50% increase
14 April 2023 /security /regulation Artificial Intelligence and Financial Services
Digital Payment Adoption Heightens Fraud Risks The COVID-19 pandemic has sped up the shift towards electronic payments, which is unlikely to reverse anytime soon, if ever. Credit cards were the most vulnerable payment method to online scams in 2022, with an estimated $1,034 billion in e-commerce sales. However, fraud has become more common than eve...
13 April 2023 /payments /retail Banking Strategy, Digital and Transformation
Identity fraud is a major concern within the banking sector. As technology continues to advance, so do the methods that fraudsters use to deceive banks and their customers. The use of biometrics and documents is becoming increasingly common in the fight against identity fraud. One of the main benefits of biometrics is that they are unique to each ...
11 April 2023 /retail Banking
In response to the demand for faster and more convenient payment options, the Federal Reserve has launched a plan to modernize the US payment system, including the implementation of real-time payments. The idea for this innovative payment service has been in the works for over a decade. Its implementation is expected to revolutionize the banking i...
06 April 2023 /payments /retail Banking Strategy, Digital and Transformation
Customer, Product, Employee, Supplier are all familiar domains and prevalent amongst organizations that have initiated their MDM journey. However, when it comes to the Finance or the Chart of Account (CoA) domain, the value of managing this master data domain is quite undermined. The GL Master in the Chart of Accounts area or very often called the...
05 April 2023
In March 2022, the Prudential Regulation Authority’s (PRA) Operational Resiliency Rules came into force. The rules, which impact UK banks, building societies, and financial services firms, mandate that they embed resilience within their operations. Organisations are instructed to adapt systems and processes to ensure they have service continuity i...
05 April 2023 /regulation /retail Operational Risk Management
I was delighted to participate in the recent Finovate Europe in London where over two days I engaged with some of the most influential speakers within global finance, discussing how technology, business, politics, and economics align in the challenging times we face in 2023. Finovate is a key annual conference focused exclusively on showcasing t...
05 April 2023 /inclusion /markets Fintech World
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