Global Payments & Transfers Insights
12th October 2018
Blockchain, or Distributed Ledger Technology (DLT), is one of the most hyped new branches of digital tech in recent history. Invented as the underlying framework to power Bitcoin, it is now being applied in some way to every industry, including capital markets.
The potential applications of blockchain/DLT technology vary across sectors but have... read more
11th October 2018
As new challenger bank N26 comes to the UK market, the question of how far the challenger banks can go to dominating a customer’s financial life is being asked all the more frequently.
When prompted on whether N26 would look to become the app for everything, Alex Weber, N26’s head of international markets, said the appetite for such... read more
8th October 2018
A few weeks ago, I sat on a webinar panel discussing the concept of Request for Pay (RfP) and what the implications will be for the US market when it is made available as part of The Clearing House’s Real-Time Payments (RTP) network. I was joined by my esteemed partners Keith Gray from the Clearing House and George Evers from Vocalink, and at... read more
8th October 2018
The payments community is well used to the abundance of acronyms that has become its legislation of late, but less so to the grey overlaps between various directives and standards - least of all Strong Customer Authentication (SCA) within the online and e-commerce payment experience.
But Payment Service Providers (PSPs) are increasingly finding... read more
5th October 2018
German fintech N26 has begun its phased launch into the UK.
The country has seen many a challenger bank set up shop in the last 10 years with Monzo (2015), Starling (2014), and Atom (2014), as incumbents increasingly fail in areas of customer service – according to recent CMA rankings. Many high profile tech failures such as TSB have led... read more
5th October 2018
The challenger banks do not only have to stick to the old adage of hitting the ground running - they need to sprint. With incumbents increasingly pouring resources into innovation programmes, the challenger banks are in a race against time to offer their unique capabilities before others replicate them.
The ’small 4’ retail banking... read more
2nd October 2018
At the recent Amazon Web Services FS Insight conference, Jonno Southam, venture capital business development manager at AWS led a panel with Jai Juneja, head of tech investment at Seekventures and Kartik Varma, co-managing director at the Barclays Accelerator. The conversation focused on how fintechs are investing, as the panellists identified... read more
1st October 2018
The cost of fraud to financial services increased by 9.3% over 2017, according to research conducted by LexisNexis Risk Solutions. For every $1 stolen by fraudsters, it costs financial services firms $2.92 in fees compared to $2.67 last year. Further, the level of fraud as a percentage of revenue has moved upwards from 0.95% to 1.53% on average.
... read more
28th September 2018
More than three quarters of the UK are concerned about sharing financial data with organisations other than their bank, according to a recent poll by market research body, YouGov.
Of those surveyed, 77% said they were concerned around data sharing, with 45% saying they didn’t understand the benefits of Open Banking, and a large number of... read more
25th September 2018
UK challenger banks and fintechs are making moves to ensure their services will be available to customers in the European Union after Brexit.
Starling was granted a banking passport into the Republic of Ireland last year, while Revolut has begun the process of applying for an e-money licence in Luxembourg. “This ensures that Starling can... read more