Build vs buy? Strategic decisions in financial crime management
Choosing between building and buying systems is key as financial institutions face escalating financial crime challenges.
Choosing between building and buying systems is key as financial institutions face escalating financial crime challenges.
In an era marked by technological advancements and evolving consumer preferences, high-end banks and financial institutions are constantly seeking for innovative ways to cater for the demands of the discerning mass affluent market.
Open Banking set out to revolutionize finance by giving third-party providers access to customer data (with consent) to drive innovation and empower consumers. But while Europe’s PSD2 regulation has enabled new fintech services and a vibrant TPP ecosystem, adoption has fallen short of initial expectations. Complex regulations, security concerns, and, most critically, profitability challenges for banks have created hurdles. Discover how a shift in strategy, combined with data enrichment, could help banks embrace Open Banking as a growth opportunity rather than a regulatory burden.
This case study demonstrates how PAYSTRAX successfully leveraged the Dispute Help chargeback management tool to prevent over 98,000 chargebacks—representing 75% of total chargebacks and 83% of all fraud-related chargebacks.
A flexible, focused marketing plan improves budgeting, targeting, and adaptability, with ongoing analysis ensuring effective growth.
dash.fi, in partnership with Episode Six, launched a net 60 charge card with high limits and 3% cashback, enhancing cash flow for brands with large ad spends.
Convera’s “Are You Ready for 2025?” report offers insights on global economic trends and FX risk management for businesses.
New fraud data highlights growing threats and the need for stronger defences ahead of regulatory changes.
The Click to Pay mandate allows card issuers to modernise payments, boost customer experience, and ensure secure, interoperable digital transactions.
BPC’s report, “Next-Generation Card Processing,” highlights the rapid growth of challenger processors, driven by cloud-native technology and innovation, outpacing incumbents.
PXP Financial and Phos by Ingenico partner to offer a SoftPoS solution for contactless payments on Android devices without additional hardware.
IATA and Outpayce partner to enable airlines to accept faster, secure account-to-account payments via IATA Pay.
DigiDoe provides an AI-driven solution for cross-border payments, ensuring compliance, fraud prevention, and operational efficiency.
Chargeback abuse costs billions, but merchants can reduce fraud with proactive strategies like customer engagement and better security.
Equals Money research shows 90% of financial leaders face 2024 Budget uncertainty, with 70% delaying investments, and 81% planning to adopt new financial tools.
LHV Bank has appointed Mike Goodenough as director of banking services to lead growth and strengthen UK and European operations.
Ripple has upgraded Ripple Custody with new features like transaction screening and XRP Ledger integration, providing secure and scalable crypto asset storage.
Noda’s Pay & Go simplifies registration, KYC, and payment processing in one flow, enhancing conversion rates and user onboarding.
Seon Technologies’ November 20th webinar will explore how advanced pre-KYC processes can improve customer onboarding and fraud prevention for financial businesses.
Learn how payments firms are tackling the challenges of the Consumer Duty, from compliance gaps to improving customer outcomes and governance.
The FCA’s new safeguarding reforms strengthen consumer protection in payments and e-money sectors. This article outlines key changes and steps firms must take to comply.
The PSR’s new refund rules strengthen fraud protection, but concerns remain over the reduced compensation cap and evolving scam tactics.
A&O Shearman’s webinar will explore HM Treasury’s draft BNPL legislation and its impact on lenders and the UK retail credit market.
iFAST Global Bank has introduced instant FX trading for iFAST GB Business clients, enabling faster fund settlements and improved efficiency for EMIs and regulated firms.
The FCA is consulting on new safeguarding rules for payment and e-money institutions to improve fund protection and compliance.
New rules mandate automatic reimbursement for APP fraud victims, raising concerns about industry costs and fraud exploitation.
Tide has partnered with Adyen to enable small businesses to accept contactless payments using only an iPhone and the Tide app, eliminating the need for payment terminals.
A new fscom report analyses compliance challenges in financial services, highlighting improvements and ongoing areas of regulatory non-compliance.
Visionary leadership is crucial for driving innovation and navigating the rapid changes in the payments industry.
A new BDO report highlights challenges in attracting talent and concerns over remuneration for non-executive directors.
The PSR has lowered the APP fraud reimbursement cap to £85,000, raising concerns over fraud prevention
PEXA collaborates with Metro Bank to enhance the remortgaging process, aiming for faster completions and increased transparency for customers and brokers.
A surge in current account switching is being driven by cash incentives, economic pressures, and the rise of digital banking.
Flawed assumptions in CBDC designs around accounts, wallet control, and privacy call for a more innovative, privacy-focused approach.
BVNK has introduced Customer Virtual Accounts, enabling fintechs and payment service providers to facilitate EUR, GBP, and stablecoin payments on a unified platform.
Ripple has begun beta testing its stablecoin, Ripple USD (RLUSD), on the XRP Ledger and Ethereum, with plans to expand to other blockchains, focusing on security and reliability before full release.
The Payments Association’s consumer behaviour survey uncovers shifting payment preferences in the UK, with digital methods on the rise while cash remains vital for certain demographics.
Merchants face new challenges as payment innovations like open banking and tokenisation reshape the industry.
Lucinity’s new US patent enables secure sharing of AI insights between financial institutions, with the aim of improving global crime detection while protecting data privacy.
Paytently unveiled its new branding at the SBC Summit, highlighting its innovation and investment in streamlining the payment process.
Tasc is an automated back-office platform that streamlines KYB/KYC, transaction monitoring, and dispute management for faster and more scalable operations.
Linklaters LLP will host a webinar on 2 October 2024, covering upcoming FCA safeguarding rule changes for payments firms.
The Combatting APP Fraud report outlines how upcoming PSR rule changes will drive banks to adopt inbound transaction monitoring and collaborative intelligence.
Algbra Labs’ fintech-as-a-service (FaaS) simplifies building digital financial platforms, cutting costs and time, as seen with Standard Chartered’s Shoal.
Rising maintenance costs in social housing, driven by damp remediation and regulations, are pushing providers to adopt preventive strategies and modernisation.
Blockchain is transforming digital payments with faster, more secure, and transparent transactions, driving mainstream adoption and new applications.
The new Reimbursement Claims Management System (RCMS) aims to simplify APP fraud claim processing, enhance PSP cooperation, and ensure adherence to updated compliance standards
How open banking can reshape finance, enabling personalised services, streamlined verification, and improved fraud detection.
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