UK Big Bang 2.0: Will it happen in 2024?
The UK holds a strong position in the rapidly developing fintech and digital payments world, but experts are divided over whether this will lead to a major breakthrough next year.
December 7, 2023
The UK holds a strong position in the rapidly developing fintech and digital payments world, but experts are divided over whether this will lead to a major breakthrough next year.
It’s not easy being green, especially when environmental, social and governance (ESG) obligations are mounting amid an uncertain economic picture. But businesses can no longer ignore the voices of consumers worldwide who are demanding immediate and impactful climate actions – and this is where fintechs have a vital role to play.
As part of yesterday’s 2023 Autumn Statement, the Future of Payments Review was published. Commissioned by HM Treasury and led by Joe Garner, the review provides a number of recommendations on the
The UK government has taken a significant step towards clarifying its stance on the regulation of cryptoassets, digital settlement asset firms, and fiat-backed stablecoins by publishing key documents outlining their responses to recent consultations.
The FCA recently published its latest guidance on detecting and preventing money mules. This came off the back of the national Economic Crime Plan 2 and Fraud Strategy that has been introduced to focus on disrupting money mule activity.
The Payments Association’s George Iddenden sat down with Intellias senior vice president and global head of sales Olaf Baunack to discuss how his company helps financial services firms use ecosystems to their advantage.
Jonathan Tyce speaks to Nexi’s Tommaso Jacopo Ulissi on how the paytech firm is driving innovation in the sector and what this could mean for the use of digital currencies.
The emergence of Web3 is just one of the technological evolutions that could be pivotal, which is why banks and payments firms need to start now to understand its core values.
Pavlo Khropatyy explains how banks should embark on the journey of digital transformation, keeping their customers firmly at the heart of their strategies.
With big tech entering the banking space, payment firms need to be at the forefront of changing the ‘software sabotage’ culture to ensure consumers and those in the supply are protected as well as reducing e-waste.
James Hunt of Feedzai discusses the evolution of acquiring banks and PSPs.
Monica Eaton explores how augmented reality is used in the marketplace and what impact it might have on the payments industry.
With purpose-built regulation set to come into force in the EU next year, can the UK catch-up and offer clear guidance for crypto and stablecoin issuers.
The Financial Conduct Authority (FCA) has issued a final warning to cryptoasset firms involved in marketing their services to UK consumers, including those based overseas.
FIS senior sales executive Julien Farley discusses why he believes that the payment industry should adopt a more open-minded approach to the different payment methods that are used worldwide.
On Thursday last week, The Payments Association presented the launch of its latest report ‘Navigating the rising cost of living: Payments innovation as a game-changer’ at Parliament to a range of representatives from the House of Commons, House of Lords, and industry bodies including…the HMT, the FCA, BoE and the PSR.
With earnings trends and guidance discussed by the biggest payment firms globally during half year earnings, Jonathan Tyce analyses what this means for the industry and the outlook into 2024.
The introduction of a digital pound is an opportunity to reform the financial system and make finance more accessible and inclusive.
Eduard Stringer, director of product management for Europe at FIS, explains why he believes the EU needs to step up and ensure regulation supports the needs of payments businesses and consumers.
The news that Visa has expanded its stablecoin settlement pilots as part of a push to modernise cross-border payments has been recognised as a landmark moment by payments insiders.
With the payments industry driving towards faster and cheaper ways to transfer funds, attendees at a Payments Lab session discuss whether atomic settlement could be the next big thing.
After an embarrassing scandal which saw Coutts CEO Peter Flavel and NatWest boss Alison Rose both leave their positions over the closure of Nigel Farage’s bank account, the UK banking sector may now be forced to react.
Companies spend £125 billion each year enabling people to pay and get paid securely, quickly and conveniently. The UK’s payment sector employs over 100,000 people from more than 500 companies.
From working in different countries to tackling the sector’s diversity problem, Sundeep Kaur, regional leader for global financial services at AWS, speaks to Jyoti Rambhai about the trends and challenges in payments.
The current economic climate is making first-party fraud – also known as friendly fraud – more appealing to those struggling financially. Sarah Jordan and Stephanie Kattah examine the challenges facing
Answer Pay’s Peter Cornforth examines the significance of Request to Pay alongside CoP, highlighting their combined role in meeting regulatory demands and fortifying payment security.
Bob Kaufman explains how integrated payment frameworks transform reconciliation processes for travel and tourism businesses.
The Payments Association EU invites you to their “Payments Tomorrow” Conference in Lisbon on October 10th . An event that will bring together payments executives from all over Europe under
Although debit cards have long been a symbol of banking’s status quo, a combination of consumer demand for innovation and emerging technologies have set the stage for a dramatic transformation
Pavlo Khropatyy, VP and global head of delivery, FS&I, at Intellias, explores the profitable alliance of machine learning and finance, highlighting five remarkable ways this technology is revolutionising the industry. Machine
Jovi Overo, managing director of BaaS at Unlimit, shares his views on how BaaS will grow over the next five years and what service providers should be implementing today to reap the benefits.
Global M&A in the payments sector is improving after the 2021 slump, according to Jonathan Tyce, director of research and investment at AlphaOneSolutions and ex-Bloomberg intelligence senior financial analyst. Apple, JPMorgan, PayPal and other big players are out looking for their next venture.
Stripe and Klarna are among the first in payments to implement the use of ChatGPT in their products and services.
Anjana Haines speaks to HSBC’s UK CEO Ian Stuart on the concerns around the SVB acquisitions and what’s next for the banking giant.
Last month, Discover® published their first Environmental, Social and Governance (ESG) report. “The release of our first ESG report is a significant milestone for us at Discover and communicating our
With innovation in B2C payments growing at much faster rate, Intellias’s Olaf Baunack debunks the myths associated with B2B payments.
Sean Forward at payabl. explores how the industry could see a rise in M&A activity and a consolidation of businesses and services.
It started with Silicon Valley Bank (SVB), crossed the Atlantic for the final downfall of Credit Suisse, and then switched back to California with the demise of Federal Republic.
With over 20 years in the payments sector, Jonny Griffith, head of partnerships at BVNK, speaks to Jyoti Rambhai about his experience and the challenges facing the industry.
Other UK banks also reporting higher than expected pre-tax profits for Q1 2023
ConnexPay’s Anant Patel, president of international markets, discusses the future of payments, highlighting the potential of virtual cards to provide multiple efficiencies and cost savings, while increasing security, reducing fraud
Join TSYS and Auriemma live on the 16th of May for our “The Importance of ISO 20022 to Debit Card Issuers” webinar where TSYS’ Head of Debit Solutions, Peter Tobin
The large amounts of money being processed and sensitive information being handled means payments operators are a ripe target for today’s fraudsters. ID verification is the first step to establish a prospective customer’s legitimacy.
HSBC’s purchase of Silicon Valley Bank UK (SVB UK) will protect the immediate future of fintechs in the UK, but it does raise the question of what repercussions or similar
Gen Z, or the iGeneration, values convenience, speed, and security in their payment methods. As they gain financial independence and spending power, their choices will influence the next few decades
Form3, the cloud-native account-to-account platform, today announces that it is sponsoring the Payment Association’s Project Financial Crime Working Group this year, to address the challenges of tackling increasing levels
Hiding behind technology enables fraudsters to use emotive language to target their victims, so industry experts examine how can people identify the red flags.
With consumer spending likely to fall over the next two years, the payments sector must be innovative to grow and serve the most financially vulnerable groups.
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