Global Payments & Transfers Insights

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Singapore agreement offers opportunity for Cambodian retail banking market

12th April 2019

Company: bobsguide
A fintech agreement between Cambodia and Singapore authorities provides an opportunity for the former’s underbanked and underbanked population, according to lawyers, while the vice president of both Cambodia and Singapore’s fintech associations says lessons can be learned from both central banks’ implementations of blockchain. ... read more
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US real-time payments are headed to ubiquity. Are banks ready?

10th April 2019

Company: Finastra
In 2017, the US joined the global move towards real-time payments (RTPs) with The Clearing House’s launch of the RTP system. Rapid take-up since then among the largest banks means the system now covers almost half of the total demand deposit accounts in the US. However, volumes remain low and many banks are still not connected. So,... read more
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ACI’s Ramsey: APIs and ISO20022 are completely incompatible

4th April 2019

Company: bobsguide
“APIs and ISO20022 are actually completely incompatible with one and other. You wouldn’t want a modern agile API using ISO 20022 standards because [the standard] is too thick and too heavy,” said Craig Ramsey, ACI’s head of real-time payments at an industry event this week in London. “It’s a very heavy weight... read more
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NatWest brings PFM app to crowded market

2nd April 2019

Company: bobsguide
Yesterday, NatWest began trials on the bank’s Mimo app, its new personal finance manager (PFM) designed to give customers greater insight into their finances. While this is certainly not the first of its kind to market, Mimo lead Calvin O’Brien believes it is bolder, more ambitious and bigger than other propositions. “Firms... read more
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Detecting and preventing bank fraud

1st April 2019

Fraud continues to be a problem for consumers and the banking industry. According to Javelin Strategy & Research in 2017, 16.7m people were victims of identity fraud and they lost an estimated $16.8bn. The Consumer Sentinel Network, maintained by the Federal Trade Commission (FTC), found that of the 2.7m identity theft and fraud... read more
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Starling head of fraud: In-house tech allows us to react more quickly

29th March 2019

Company: bobsguide
The in-house technology employed by Starling Bank gives the digital-only challenger great advantage over their incumbent competition when it comes to reacting to fraud. That’s according to the bank’s head of fraud, Catherine Walpole - who was speaking yesterday on a bobsguide webinar. “All the in-house technology that we can... read more
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Industry reacts to Apple Card: “extremely similar to other products”

28th March 2019

Company: bobsguide
“Built on simplicity, transparency and privacy, and designed to help customers lead a healthier financial life” reads the opening of the Apple press release unveiling its new credit card. The card, which is supported by Mastercard and Goldman Sachs, will link up with Apple Wallet, allowing near instant set up and go according to the... read more
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Mastercard: Difficulties in providing post-Brexit advice for new entrants

25th March 2019

Company: bobsguide
Mastercard is struggling to give smaller firms the advice they need to navigate potential post-Brexit landscapes, said Scott Abrahams, group head of acceptance and emerging payments, on the sidelines of the PAY360 conference earlier this month in London. “[The challenge of Brexit] is important for the smaller customers because they are... read more
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GhIPSS CEO: Ghanaian and international payment schemes in a “battle”

25th March 2019

Company: bobsguide
The duopoly of international card schemes are working at odds with Ghana’s own payments plans,  according to Archie Hesse, CEO of the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS). “Since we’ve started our scheme there’s been this battle between ourselves and Visa,” said Hesse, speaking on the... read more