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Introduction In recent years, it has become easier than ever to move businesses and money into the global economy. This has prompted banks and fintech companies to invest in more efficient technologies for cross-border payments. In the past, such payments were slow, complex, inefficient, costly, and time-consuming, involving multiple banks with unc...
10 May 2023 /payments /retail Banking Strategy, Digital and Transformation
The pandemic has acted as a catalyst in the widespread adoption of digital payments, propelling contactless payments to the forefront of this transformation. According to a recent report from Juniper Research, the total number of unique contactless mobile payment users will reach 1 billion globally by 2024, rising from 782 million in 2022, represe...
09 May 2023 /payments /retail Open Banking
PSD3 Regulation: What To Expect and When? A recent survey by the Thales Group revealed that a staggering 38% of users are willing to switch to another provider offering better rates or services, highlighting the cut-throat competition within the banking and financial services industry. However, with regulations like the Second Payment Services D...
03 May 2023 /payments /regulation Banking Strategy, Digital and Transformation
Can you believe it’s been 15 years since the Madoff scandal was uncovered? 15 years since the global financial crash. In fact, it was that incident that signalled the end for Bernie Madoff, the financial sociopath, who – under the guise of being a successful co-founder of the NASDAQ and one of the most successful stockbrokers on Wall Street – cunn...
03 May 2023 /regulation /crime Exposing Financial Crime
Black Swan events happen rarely, BUT it gives a tremendous opportunity to reinvent to create brighter futures – only if the business is proactive to handle. One way FIs can prepare is by digitaltransformation leveraging AI, Machine Learning, and Cloud to mitigate risk and address regulatory requirements while enhancing decision-making capabilitie
02 May 2023 /regulation /predictions Analytics in Banking
Many banking platforms are built on legacy applications, which rely on outdated technology, can be costly to maintain, have poor performance, and require outdated skill sets. Modernizing legacy applications is part of a broader digital transformation initiative for banks and can provide greater efficiency and flexibility. However, many organizatio...
26 April 2023 /payments /retail Banking Strategy, Digital and Transformation
As technology advances at lightning speed, the digital finance industry constantly evolves, creating more opportunities for innovative liquidity providers. As more traders look to invest in various markets, having reliable liquidity services that provide adequate risk management to price investments accurately can be a crucial part of success. Wit...
25 April 2023 /inclusion /markets Fintech
Just blink…out with the old ( ChatGPT …yup, almost already) and in with the (not so) new - Generative AI. So what is this Generative AI, really? First, think of it as a combination of Angel and devil's advocate, who is a positive scrutinizer for good reasons. Did you get the picture of having them on each shoulder to steer you in the right directio...
21 April 2023 /crime /predictions Digital Bank Transformation
In today’s digital landscape, there is a significant risk of data breaches, cyber thefts, and other such frauds. Digital transformation has enabled fraudsters to find new lines of attack and exploit vulnerabilities. Fraud has always been a detrimental factor in the business world, particularly in the financial industry, causing fear in users when ...
21 April 2023 /security /crime Blockchain in Banking and Financial Services
More than ever, it's crucial to keep your customers safe from threats and ensure they have a smooth payment experience. This is where Know-your-customer (KYC) and Strong Customer Authentication (SCA) come into play. In this article, we'll delve into the ways in which these processes can help you design a smooth customer experience and secure paymen...
20 April 2023 /payments /retail Banking Strategy, Digital and Transformation
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