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Winners of world’s first open banking variable recurring payments hackathon announced

Ozone API, Open Future World, and UK Finance are delighted to announce the winners of the world’s first variable recurring payments hackathon. The six week event, sponsored by Accenture, Mastercard, Volt and Worldpay from FIS, was an opportunity for developers, banks, payment initiation service providers and tech platforms to demonstrate potential use cases and propositions that open banking VRPs can deliver.

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NEW INVESTMENT PLATFORM LIGHTYEAR PARTNERS WITH CURRENCYCLOUD TO PUT INVESTORS LIGHT YEARS AHEAD

Currencycloud announces that they we are working with Fintech start-up Lightyear Financial.

Nick Cheetham, Currencycloud’s Chief Revenue Officer says, “Lightyear are true innovators in the field who now have a cross-border solution embedded in their offer: opening up global markets to even first-time European investors.”

Find out more here: https://bit.ly/3nlPZ28

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PPS powers Suits Me – the personal account for everyone

Suits me has migrated away from previous provider Contis. By utilising PPS’ technology and licenses for issuing cards and e-money, Suits Me is now able to offer services including Debit BIN, Mastercard Settlement, Banking Service, BACs In, CHAPs In, Direct Debit, Direct Debit Indemnity Claim and PayPoint cash load.

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Advent International and Eurazeo acquire Datatrans AG

As part of their co-operation and co-investment in Planet, a leading provider of integrated payments, Advent International (“Advent”) and Eurazeo have today acquired Datatrans AG (“Datatrans” or “the Company”) and will now co-own the company.

The new investment will support the Company’s position as the market leader in secure online payments and enable Datatrans to expand into new European markets and deliver new innovative uses for its PCI Proxy platform across Retail, Gaming and Digital services throughout North America and Europe.

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Fable API Hub: A scalable and future-proof open banking strategy for banks

Banks all over the world publish their APIs for their corporate customers which allows them to take advantage of the financial products offered within their own ERP environments. Whilst this provides a great customer experience, it does incur costs given the high resources required from both parties to make this a success.
Fable’s API Hub makes open banking adoption easier, affordable, and interoperable for your customers – but how has Fable got this right?
Read more about Fable’s work to bring banks closer to their customers giving them back control of their own cross-border transactions

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BANKING CIRCLE IMPROVES SPEED AND REDUCES COST FOR BUSINESSES TAPPING INTO DANISH MARKET

B2B Payments bank, Banking Circle, has joined the Danish national intraday clearing system. Through Banking Circle as a direct clearing participant, Payments businesses and Banks can now pay out and collect payments locally in Denmark on behalf of their customers more quickly and at lower cost than via traditional cross border payment methods. This will enable e-commerce businesses around the world to tap into the growing Danish market.

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Tred announces Mastercard green debit card to help track and offset customers’ carbon footprint

Green fintech Tred has announced that their UK green debit card launch will be with Mastercard, enabled by Nium’s card issuing service.

In anticipation of their upcoming launch, and to celebrate this announcement, they’ll be planting 10,000 trees with Mastercard as part of its Priceless Planet Coalition, launched last year with a firm commitment to plant 100 million trees by 2025.

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Latham & Watkins advises Zepz on US$292 Million Financing Round

London corporate team represents leading digital cross-border payments platform in achieving a post-money valuation of US$5 billion.

Latham & Watkins advised Zepz, formerly WorldRemit, on raising US$292 million in new primary financing and achieving a post-money valuation of US$5 billion. Zepz is a digital cross-border payments platform operating two market-leading brands (WorldRemit and Sendwave, acquired in 2021), with over 11 million users across 150 countries.

The round includes new equity investors Farallon Capital among others, as well as backing from existing investors Leapfrog, TCV, and Accel.

The Latham team was led by London corporate partners Mike Turner and Shing Lo, with associates Katie Kaplucha and Sam Peacock.

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Cards Week, powered by Modulr

Did you know one of Modulr’s most popular platform features is card issuing?

So much so, we’ve decided to celebrate cards with our first ever Cards Week.

Join us from Monday 29.11 – Friday 03.12 for five succinct sessions over five days where you’ll have the opportunity to hear the latest innovations in card issuing from industry innovators at Visa, TagNitecrest and Zumo.

Register here: https://bit.ly/3GP4wen

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M-commerce and the Single Device Experience

While some may say m-commerce has simply piggybacked on the overall e-commerce “boom”, this really isn’t the case: m-commerce has actually overtaken desktops, the traditional king of e-commerce, to become the reigning form of online payments. Yet a mobile-first world has some implications for issuers when it comes to payments – let’s dig in.

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How to Choose a Fintech Brand Name

Blue Train Marketing’s latest blog details the necessary steps that you must follow when creating a fintech brand name. From competitor research to your brand’s purpose, you must take it all into consideration.

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Why every company won’t be a fintech company

Embedded Finance has become one of the hottest issues in the fintech space. The term was coined by Angela Strange at VC firm Andreessen Horowitz who also asserted that in the future “every company will be a fintech company” because every company will be able to embed financial services. But does that really mean every company will be a fully-fledged fintech company just because they have embedded financial services? Vicki Gladstone, Moorwand CEO, doesn’t think so.

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KANI PAYMENTS ACCELERATES FINTECHS WITH OUT-THE-BOX INTEGRATIONS FROM MULTIPLE GLOBAL PROCESSORS

Kani is now integrated with many of the world’s payments data processors – this, combined with its data and processor-agnostic approach, and the fact that Kani can easily and quickly ingest data from the multiple processors, banks and BIN sponsors that payment and fintech companies work with, makes onboarding and working with Kani fast and efficient. Raw data files in different formats can be imported and reconciled in just a few minutes, and parsed into much more understandable reports.

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SIBOS: The Power of FI and Fintech Partnerships to Better Serve Customers

A dynamic landscape and the unprecedented pace of change make for an exciting and demanding marketplace, increasing the need for Capacity, Cost, and Competition. James Hodgson and Tim Tor from NatWest talk with Chris Peck of Bottomline and Teresa Connors of Payment Matters about the effectiveness of partnerships and collaborations and the difference it makes in better-serving customers.

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Bottomline launches global first with Payments Tracker using SWIFT’s API

Bottomline, a leading provider of financial technology that makes business payments simple, smart and secure, announced the latest API-based payments tracking service for banks worldwide, integrating SWIFTgpi data. The gpi data is captured on behalf of Bottomline clients and is integrated into their payments workflow, which simplifies and unifies the API access points.

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What Happens When Fintechs Grow Too Fast? Costly (but Fixable) Problems

The fintech industry is ultra-competitive and growth-oriented by nature. Even during the height of the pandemic, a time of suppressed economic activity, fintechs not only prevailed but also expanded operations and improved access to financial services across the globe.

As the world continues adapting to the pandemic, sales growth for the financial services industry has even more room to run. Payments, wealth management, asset exchanges — consumers expect these activities to be digital. They have an expanding appetite for new features and product differentiation, spurring even more competition and growth among fintech firms.

Long story short, it’s a good time to be in the fintech space.

But what happens when fintechs, like payment providers, grow too fast?

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WEBINAR: How to scale in a way customers love – Banking vs Fintech-as-a-Service.

Your payments infrastructure could be costing you more than you realise. Using multiple providers costs time, costs cash and, more importantly, costs customers. Which is why we’re talking to clients who have moved away from traditional banking and moved towards Fintech-as-a-Platform. We’ll also be joined by Mat Megens, Founder & Chief Executive Officer from HyperJar for a fireside chat on their ‘journey’ to success, powered by Modulr.

The event will cover:
o BaaS vs FaaS: What’s the difference and what do you need to build financial products customers love?
o The key challenges faced by companies that offer payment or bank-like services
o How to avoid business inefficiencies by using a joined-up Fintech-as-a-Service partner (such as… well, Modulr)

Register here: https://landing.modulrfinance.com/scaling-a-fintech-with-modulr-baas-0

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Architects of Financial Change – Mambu

The era of expensive, unadaptable legacy banking systems is coming to an end. In the 21st century, the ability to innovate rapidly is the single most important factor for growth. Learn how to reduce risk and increase agility, flexibility and speed to market by taking your core banking platform to the cloud.

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Nium Launches First Global Platform for Crypto-as-a-Service and Extends its Banking-as-a-Service Solution to the U.S

New Nium API-based Crypto-as-a-Service platform is the first to allow financial institutions to integrate popular crypto capabilities into their financial applications, including the ability to buy, sell, and hold the most popular digital assets; future service elements will allow for stablecoin wallets, as well as crypto acceptance

Nium also expands its comprehensive suite of global Banking-as-as-Service solutions, adding card issuing capabilities in the U.S.

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ONE POINT UNIVERSAL PARTNERS WITH CURRENCYCLOUD AND DOUBLES THEIR EFFICIENCY IN MONTHS

Whenever a transaction was made, One Point Universal co-founder Jack Cui or his colleagues would be called by their bank to personally sanction the transaction. This was proving to be extremely time-consuming and complicated. Worse, their clients weren’t getting their funds in the time that One Point Universal had promised: integrity and transparency are very important to One Point Universal’s founders.

The bank wasn’t nearly flexible enough, it was very old-fashioned, complex, expensive, and slow.

In early 2021 One Point Universal looked for a new partner. They chose Currencycloud.

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A Vision for a Future of Frictionless Commerce by Nium

The future of frictionless commerce is here. How can we remove friction and complexities from global commerce that hold progress back? Learn in this whitepaper why our experts believe Simple, Seamless, and Scalable are the pillars of a successful future of payments.

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An EU Digital Identity eWallet – the Next Step After PSD2?

Back in January, CEO Fabien Ignaccolo wrote a post on our 2021 predictions for SCA. Among the predictions was a future PSD3 enabling SCA for the non-banking industry, as well as an expectation for a renewed focus on Digital Identity. While PSD3 is still on the horizon, there has actually been more of a significant movement in the eID sphere.

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Chargeback Reversal Rate of Just 10% Could Deal Fatal Blow to Travel Merchants Post-Covid, New Study Finds

A fascinating new report, Fraud and Chargebacks in Travel, has been launched by merchant dispute specialist Chargebacks911, in conjunction with industry thought leader and travel research firm, Airline Information. It offers merchants a thought-provoking look at the substantial scale of the challenge that chargebacks present to the industry and proposes solutions for mitigating chargeback threats and payment fraud events.

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Dear Luc: With the contactless limit increasing to £100, why are people so divided?

Contactless card payments have boomed since the onset of Covid-19 and 15 October marked yet another milestone with shoppers able to spend £100 per transaction with a tap of their card.

In this Dear Luc article, Luc Gueriane discusses why are people so divided about the £100 contactless limit?

Head over to Fintech Futures to read the full article: https://www.fintechfutures.com/2021/10/dear-luc-why-are-people-so-divided-about-the-100-contactless-limit/

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TIPPAY™ BY RADAR PAYMENTS ENABLES WORKERS TO RECEIVE GRATUITY AND TIPS STRAIGHT INTO THEIR ACCOUNT

Radar Payments launches a standalone service for tipping and gratuity that can be deployed by financial institutions to help reward hospitality staff and other workers for their services.
Banks can use Tippay™ as a standalone app available in their business client outlets and to partners for more tipping convenience. The service enables banks to reach new potential customers while generating additional revenues by taking a minimal fee on every tip registered.

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Gain The Lead: How Fintech Leaders Can Cultivate Ownership Culture in a Rapid Growth Environment

As a fintech leader, what does ownership mean to you?

It’s a prominent topic these days, especially as payment providers (and the broader fintech industry) shift to remote settings and home offices. Leaders and employees must adapt during times of change. Encouraging and proliferating ownership was already difficult before this seismic shift. Now it’s an even taller task.

Are your employees taking ownership over their responsibilities and designated projects?

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Global Processing Services raises over US$300 million to accelerate technology development and global growth

London-headquartered Global Processing Services (GPS), the Global API-first payment technology platform, powering the world’s leading fintechs, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy, today announces it has raised over US$300 million from Advent International (“Advent”) and Viking Global Investors (“Viking”).

The new investors and subsequent funding will provide deep payments and fintech experience to accelerate technology investments in product innovation and continued expansion in 48 countries across Europe, Asia and the Middle East.

The investment follows a strategic investment from Visa in October 2020.

GPS is a company at the heart of fintech’s global expansion, powering leading fintechs, digital challenger banks and embedded finance providers through its API-first payment technology.

To date GPS has:

Issued 190 million physical and virtual cards
Processed more than 1.3 billion transactions on its cloud-based platform
Expanded into APAC and MENA
Integrated with 95 issuer partners and operates programmes for a client base across the globe
Powered today’s leading fintechs, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy
Secured strategic investment from Visa, a long-term partner of GPS
Established a new regional centre of excellence in United Arab Emirates (UAE) having been selected as one of its preferred issuer processors in Asia-Pacific and the MENA region

Please see below for full press release for further information.

Let me know if you have any questions.

Kind regards,

Becky

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PHYSICAL BIOMETRICS VS BEHAVIORAL BIOMETRICS

– Introduction
– What is physical biometrics?
– What is behavioral biometrics?
– What is the difference between using physical and behavioral biometrics when authenticating users?
– Behavioral biometrics aid PSD2 compliance
– Webinar: Behavioral Vs Physical Biometrics: the ultimate showdown in digital banking

Read More »

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