Global Payments & Transfers Insights

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"Gross negligence" accusations rife in bank transfers

29th August 2018

Company: bobsguide
The UK's Financial Ombudsman Service (FOS) has released a statement addressing fairness in scam complaints made against banks. Caroline Wayman, Chief Ombudsman wrote that banks often blame their customers of "gross negligence" despite "gross negligence" being more than just customer carelessness and incorrect account... read more
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PayU's CCO on Ripple and the tech giants | Fintalk Podcast

28th August 2018

Company: bobsguide
In this episode of the Fintalk podcast, PaymentEye and bobsguide reporter Dave Beach sits down with Matthias Setzer, CCO of cross-border paytech, PayU. "I'm surprised to see the level of sophistication in some emerging markets today," says Setzer, before embarking on a journey around the world's emerging payments markets,... read more
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Impending trade war to slow down flourishing Chinese fintech?

22nd August 2018

Company: bobsguide
China's fintech and financial industries are booming thanks to shrewd economic planning since 2011, but with plans to internationalize the country's markets and a full blown trade war threatening each time US President Donald Trump takes to Twitter, it begs to wonder how the industry can continue to thrive in a domestic and global... read more
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Open Banking driven forward by data-sharing millennials

21st August 2018

Company: bobsguide
“Fintech companies are on a mission to make financial services and products accessible to everybody,” according to Michelle Pearce, CIO and co-founder of Wealthify, the online investment service. Firms such as Wealthify can embrace Open Banking, and give everyone “the chance to have an investment portfolio built and managed by... read more
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Banks need to act quickly to implement cryptocurrencies

21st August 2018

Company: Crealogix
For many years, bitcoin and other cryptocurrencies remained a fringe movement, generally unknown to those outside the immediate community. In 2010, a year after its invention, one bitcoin was never worth more than $0.50, but the unprecedented attention that cryptocurrencies and blockchain have received in the last two years has led to sharp price... read more
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Challenger CEO reacts to CMA’s bank rankings

20th August 2018

Company: bobsguide
On the 15th of August, the UK's Financial Conduct Authority (FCA) and Competition & Markets Authority (CMA) released data on quality of service for the first time, marking a historic step for Open Banking and putting a mass of customer data in the hands of fintechs and comparison websites. Of particular interest was the omission of a... read more
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Should payments businesses become consumer brands?

17th August 2018

Company: bobsguide
A recent Intrapay study into consumers’ ecommerce experiences revealed the key conundrum facing payment processors; the challenge of providing simpler payments while offering optimum security. Some 90% of the 650 respondents to the study reported that security is the most important aspect of their online payment experience. Yet four in... read more
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Major move towards production: Ripple's new US, Mexico and Philippines liquidity hubs

16th August 2018

Company: bobsguide
Cross-border payments company Ripple has today announced partnerships with Bittrex, the digital asset exchange for xRapid through US dollars, Bitso, the digital asset exchange for Mexican Pesos, and Coins.ph digital asset exchange for Philippine Pesos.  This year, Ripple has been busy forging partnerships with... read more
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UK's FCA/CMA banking surveys: fintechs given crucial market intelligence

16th August 2018

Company: bobsguide
As reported yesterday, the UK's Financial Conduct Authority (FCA) has enforced new rules requiring providers of personal and business bank current accounts to publish information on service quality twice yearly that will help customers to compare accounts from different providers. The survey data from the Competition & Markets Authority... read more
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BoE: "Synchronisation innovative step for new Real-Time Gross Settlement"

15th August 2018

Company: bobsguide
The Bank of England (BoE) is looking to work with a range of organisations, including fintech firms, to explore the demand for implementing synchronised settlement in the renewed Real-Time Gross Settlement service.    During 2018 the Bank engaged with financial institutions, infrastructures, trade bodies, policy makers and fintech... read more