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When a forecast on the development of the embedded insurance market appeared in December 2020, an outcry went through the industry. The prediction: the potential market value of companies that enable embedded insurance solutions is expected to reach a staggering $3 trillion by 2030. A figure that would make any insurance chairman's eyes water. ...
18 August 2022 /startups /markets Embedded Finance
According to the latest survey conducted by PMNTS and BitPay, 85% of businesses are adopting crypto payments to find and gain new customers. As an alternative payment system built on the blockchain ledger, cryptocurrency is the digital alternative to traditional fiat currencies, and the blockchain - the transparent, distributed ledger where all c...
05 August 2022 /payments /crypto Blockchain in Banking and Financial Services
While strong customer authentication (SCA) enforcement is still in its early days, it’s already clear that the more robust identity requirements are better protecting ecommerce checkout from fraudsters looking to commit payments fraud. And while that’s indisputably good news, one of the key indicators of SCA’s effectiveness is certainly bad news. ...
04 August 2022 /payments /regulation Business
Financial criminals are increasingly using insurance products to clean dirty money and commit illicit crimes. The industry might not have the obvious routes for laundering cash that banks present, but there are still many opportunities. Furthermore, insurers are seemingly an easier target because fewer counter measures are in place. This needs to ...
02 August 2022 /crime
An area in payments that has been heating up over the past year and a half is the handling of credit card payment disputes, AKA chargebacks. Four chargeback mitigation solutions have been acquired in the last 18 months: Chargehound by PayPal, Chargebacks.com by Sift, ChargebackOps by ClearSale and last week Midigator by Equifax. The timing of the ...
31 July 2022 /payments Fintech innovation and startups
The dramatic surge in card fraud during the pandemic has been well documented. More recently, market research is showing a reduction in the number of fraud cases as a result of payments organizations implementing modern fraud prevention solutions. However, while the volume of card fraud is declining, the monetary amount of fraud is not, as fraudst...
28 July 2022 /payments /crime The Payments Business
Enterprises make so many mistakes in the commissioning and maintaining of software and applications, but one of the most fundamental is the definition of ‘stakeholder’ in a project. Most enterprise employees who are anointed with this hallowed title take this to mean ‘someone who can demand things’ at worst, to ‘subject matter expert’ at best. But...
25 July 2022
Costs are surging, wages are inflating, and the economy is shrinking. Businesses now more than ever, require additional financial levers to get through this cost-of-living crisis. UK firms have been particularly hard-hit by the economic slump. Inflation is at a 40-year high, energy costs are soaring and there are ongoing supply chain issues affe...
21 July 2022 /payments
Financial institutions are well aware of the importance of transparency around risk. They need to be ready at any moment to respond speedily to regulatory requests, able to demonstrate at the press of a button their operational resilience from a capital adequacy point of view. It is becoming increasingly desirable that they should be able to repli...
19 July 2022 /regulation Fintech
Design Thinking. Sounds like another fashionable popularised group-think trend that some hipster from the Bay area in California has come up with, right? Some millennial’s attempt to try to look smart in front of his older, wiser stakeholders and managers. And you’d be totally wrong. As with many things in our information age, its roots date back t...
12 July 2022
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