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Interview with Anastasia Tenca, COO Noda Pay

Noda was launched in a private beta mode in Summer 2021. Company’s core area is Open Banking solutions for online services. Noda focuses on direct communication with online merchants, and instantly searches for new ways to apply Open Banking technologies in different fields to help e-commerce businesses grow and evolve. During the first year, we grew the team from 5 to 20 people, contracted with the first few merchants and polished the technologies and processes. As we see the increasing demand and specter of possible Open Banking applicability, we keep growing the muscles on product and sales expertise, with a high attention to both merchants and end-users online experience. For the moment, we quite fully covered our UK and European connections. So we are currently active in two areas:

Expanding the geography of connections – this year we plan to connect to the banks in Canada, Australia, and ASEAN countries. Next year, as soon as local banks are ready – USA, Latin America, Africa

Optimization of “Sign in via Bank” functionality – we are actively exploring technological and legal opportunities to increase the value of the service for merchants by providing them with the functions of benchmarking potential customers based on financial information. This will allow us to offer the most relevant products and services in the future, and optimize the Customer Experience for end-users.

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[Webinar] Russia-Ukraine crisis: What do international businesses need to know? 24-03 3:00pm

Russia-Ukraine crisis: what do international business need to know? Join our latest market insights webinar, in which our panel of experts will help you identify some of the critical emerging market trends, forecast the FX and trade variables that you may need to factor into decisions, and help you unravel the complexity of the new and unprecedented multi-lateral sanctions scenario. Register here: https://bit.ly/3Icfn1B

Speakers:
Nawaz Ali, Head of Market Insights
George Vessey, FX & Macro Strategist – UK
Gabrielle Leonhard, Global Head of Sanctions Advisory
Boris Kovacevic, FX & Macro Strategist – CEE

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Six steps to effective safeguarding for payment and e-money institutions

How can payment and e-money institutions meet regulatory requirements to safeguard consumers’ funds? fscom’s Director Alison Donnelly and Independent Payments Consultant Russell Burke, formerly Payment Authorisation Lead in the Central Bank of Ireland, tackled this key question at the Association of Compliance Officers in Ireland (ACOI) webinar hosted by Kathy Jacobs.

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Wintermute and BCB Group Announce Partnership as Wintermute Joins BCB Group’s BLINC Network

Wintermute, one of the largest players in the global digital asset markets, has today announced a partnership with BCB Group, Europe’s leading provider of business accounts and trading services for the digital asset economy. Wintermute has also integrated with BLINC, BCB’s global payments network, and one of the first real-time payment networks of its kind to allow free, real-time transactions across fiat and digital currencies, enabling participants to settle instantly in any of the currencies supported, with no limits.

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How Virtual IBANs Enhance the Growth of B2B Cross-Border E-commerce Businesses

One of the more vexing problems of the modern age when it comes to international business is that regulatory regimes often do not keep pace with technological innovation.

Nonetheless, novel solutions to B2B cross-border business have emerged in the form of virtual IBANs, financial instruments that drive the innovation economy and enable new, powerful business models.

Here we have outlined three ways that virtual IBANs are transforming the way companies do business locally and abroad:

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KYC Done Right Means Competitiveness and Business Growth

When it comes to digital banking and compliance, robust KYC practices not only prevent fraud and financial losses but also strengthen a firm’s ability to conduct business with confidence.

This is typically because of the four key elements of strong KYC practices that make sure firms know who they’re doing business with and what to expect from that relationship.

We’ve identified the four essential elements of effective compliance in KYC practices for digital banking in order to show you how they help improve the competitiveness of businesses of any size or scale:

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What Makes Successful Businesses Thrive in the E-commerce Space, Too?

The recipe for success in the e-commerce business is much the same as any other entrepreneurial endeavor except it comes with many opportunities for growth and leverage that physical businesses don’t have.

Online business may be the future of many markets, and for good reason. From scalability of immediately needed resources to cost-effective innovation and optimization, we have identified five key elements of success for e-commerce business in the modern age:

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How to Secure Your E-commerce Business Against Cybercrime and Cyber Threats?

E-commerce businesses can’t put enough of a premium on online cybersecurity and protection against threats. Not only can malicious actors steal data and commit fraud, but they can also completely undermine a customer’s confidence in your business.

To avoid costly fraud and cyber threats, we’ve found five primary areas of focus that e-commerce businesses need to keep in mind as they move forward in the online market:

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The Impact of Identity Proofing on Fraud

As more and more organizations have gone digital, there has been a parallel proliferation of cyberattacks that attempt to damage, disrupt or gain unauthorized access to the computer systems of banks and other financial institutions. 

So while banks and payment providers are looking for ways to streamline the onboarding process, they must ensure that they build in the necessary safeguards to protect their ecosystems, reputation and accounts owners.

New data from Jumio, the leading provider of AI-powered end-to-end identity verification and eKYC solutions, reveals that new account fraud based on ID verification declined 23.2% worldwide YOY in 2020, compared to 2019 results. At the same time, selfie-based fraud rates were five times higher than ID-based fraud. 

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Remote Dial as a Fallback for PSD2 SCA

If your goal is to service the largest percentage of market users, respect must be given across all accessibility levels. But what is a reliable solution for non-smartphone users? In this post, we review our remote dial option as a reliable PSD2 SCA fallback.

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SCA Deadlines Across Europe

We have spoken a lot about strong customer authentication (SCA) over the past year. However, the regulation has technically been in effect since mid-September of 2019. Now well into 2021, it is time for all European countries to fully enforce the updated SCA regulations. Let’s take a look at some of the deadlines.

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B2B Cross-Border Payments and Virtual IBANs: What’s the Common Benefit for Businesses?

One of the great innovations of the modern age is the ability of eCommerce to connect businesses, merchants, and consumers all across the world. Not only has this opened up new opportunities for businesses and consumers alike, but also it has expanded the realm of what is possible for small and medium enterprises on the global stage. And here we start with the interesting part of the current topic.

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What 2021 Will Bring to the Global Payments Industry

The global economy is expected to begin the process of recovery from the 2020 pandemic throughout 2021 and an integral part of that will be the payments industry as well as virtual IBANs and digital banking.

Analysts see five major trends on the horizon for 2021 in how things will change for the payments industry and digital banking services including enhanced automation to more robust identity verification as well as an authentication technology.

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What’s New in the EU Single Digital Market Arena?

Now, in 2021, and with the Brexit negotiations in their rearview mirror, the EU market is looking to digital banking solutions to help address problems of inequality, sustainability, and supporting a circular economy.

Indeed, the future of the market in Europe is not only digital but digital banking, in particular, will play a huge role in bringing about the social transformations and member-state cohesion needed to build economic resilience and growth for the future.

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