Global Payments & Transfers Insights
30th April 2019
Security and convenience are the twin pillars of retail banking, as banks seek to find the golden compromise between secure yet easy access for customers.
And as banks face increasingly more hostile fraud environments and more stringent protective regulations, they must find a solution and fast or risk losing customers to a clunky and laborious... read more
30th April 2019
Market participants, lawyers and the European Banking Authority (EBA) are still pondering the impact of Open Banking more than a year into the initiative, a conference in central London heard this week.
“It’s too early to judge at this point in time,” said Adam Farkas, executive director of the EBA at the Innovate Finance... read more
25th April 2019
The adoption of contactless cards is being dwarfed by that of alternative payment methods in the US, according to market participants.
“While people may be aware of [contactless] I don’t know if it’s being used as broadly as everyone would like it to be,” says Mark Bunney, director of go-to-market strategy for merchant... read more
12th April 2019
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
10th April 2019
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
4th April 2019
“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
2nd April 2019
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
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
29th March 2019
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
28th March 2019
“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