Pelican

In September the UK’s Open Banking implementation body (OBIE) announced a significant uptake in the number of Open Banking service uses in the UK, with over two million people now benefiting from Open Banking products. This represents a 100 percent increase in users in just over six months since the start of the global pandemic. Both...

The menace of trade-based money laundering (TBML) is an increasing, yet often under-reported, financial and reputational risk to banks and a growing concern to governments and regulators. Transnational crime is worth up to $2.2trn each year and much of it is facilitated by various forms of trade-based money laundering. A PWC report stated that...

Since the introduction of ACH payments around forty years ago, the infrastructure of the US payment system has remained relatively stagnant. The last few months, however, have seen a significant shift – arguably the most major since the 1970s – with large banks accelerating the adoption of real-time payments (RTP) schemes. Indeed, an...

This has been a defining year for artificial intelligence (AI), with banks and corporates starting to realise its potential. Recent developments in big data and cloud computing are certainly aiding this uptake, but for me the key driver in the world of payments is the move to real-time. Real-time payments kicked off in Europe and the wave of change...