Understanding open banking: From PSD2 to global adoption
PSD2 mandated banks to share customer information with licensed third-party providers through secure application programming interfaces (APIs), contingent upon customer consent.
PSD2 mandated banks to share customer information with licensed third-party providers through secure application programming interfaces (APIs), contingent upon customer consent.
The UK and EU are set to implement Confirmation of Payee (CoP) and Verification of Payee (VoP) by 2025 to enhance payment security by verifying account details to reduce fraud and errors.
Veriff’s 2024 Fraud Index highlights that nearly half of consumers encountered payment fraud last year, underscoring the critical need for enhanced biometric security in online payments.
Chat GPT, nearing 200 million users, powers transformative tools like Gemini to enhance mundane tasks and overall efficiency in various industries, including fintech
ChatGPT, nearing 200 million users, uses Large Language Models to streamline tasks and improve efficiency in industries like fintech, enhancing customer support and fraud detection.
In 2023, the UK government committed £100 million and 400 new fraud officers to reduce fraud by 10% by 2025, amid increasing social media and deepfake scams, according to IDnow’s UK Fraud Awareness Report.
Payall has partnered with Latvian regtech leader Huntli to enhance fraud prevention and transaction monitoring for a broad spectrum of financial institutions, bolstering capabilities in fraud and risk mitigation.
The PAY360 survey reveals critical insights on AI, real-time payments, and regulatory challenges, guiding stakeholders in adapting to evolving industry demands.
The 2024 assessment reveals evolving financial crime trends, including AI fraud and social media exploitation, providing crucial insights for payment firms to fortify consumer trust and operational security.
The UK Financial Conduct Authority issued a supervisory notice to EPayPro UK Limited, stressing the need for fairness and transparency in fee introductions, following EPayPro’s non-compliant rollout of a new compliance fee
ComplyAdvantage acquires Golden to enhance its AI-driven financial crime risk management solutions with advanced data integration capabilities
A look inside the innovative work of the ESG working group, as it creates the first greenhouse gas emissions standard designed specifically for the payments industry
Open banking is helping to revolutionise financial services access via APIs, enabling secure data sharing and fostering innovation in the banking industry
Initial assessments of the FCA’s Consumer Duty show that while financial firms have made positive strides in improving practices for consumer outcomes, further improvements and deeper integrations are necessary.
As real-time payment adoption grows, 50% of European firms are already involved, with another 42% planning to join, highlighting the balance of challenges and benefits in managing financial crime.
Instant payments are rapidly transforming the transaction landscape, supported by a global increase in payment rails and advanced services, despite facing challenges from fraud and regulatory demands.
New regulations will cap overdraft fees, drastically reducing them from around $30 to approximately $3, significantly impacting banks’ revenue streams.
We’d like to invite fellow Payments Association members to join BVNK and guests including Chainalysis, FIS, Worldpay and more on 22 May for Currency LDN, as we look at how
Globally, B2B travel transaction volumes are projected to reach $1.7 trillion by 2027 with the APAC (Asia Pacific) region in the lead as the fastest-growing market expected to reach $480
About Optty Optty is at the forefront of revolutionising the global payments industry, providing seamless, innovative, and secure payment solutions to partners and merchants around the world. Leveraging a cloud-based
About Equals Money Equals Money is a multi-currency payments, cards and accounts provider which supports the payments industry to deliver on its ambitions. Transforming business through its all-in-one platform, Equals
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