Bottomline, a leading provider of financial technology that makes business payments simple, smart, and secure, revealed today that the shift to hybrid working has left businesses seriously exposed to insider fraud1, with over half of businesses (52% in GB and 63% in the US) falling victim over the last year. These levels are likely to be significantly higher as many businesses are unaware that they have fallen foul of insider fraud, with rates expected to increase further as hybrid working becomes a permanent workplace fixture. The findings stem from Bottomline’s seventh annual Business Payments Barometer, which for the first time tracks the sentiment of US businesses, alongside their GB counterparts.

Even though the crypto lending market remains largely overcollateralized, the growth of DeFi has brought in a new paradigm shift: real-world asset-based lending. Read more on how RWA-Based loans benefit borrowers.

The global neobank market is projected to grow to nearly US$67 billion this year – but less than 5% of around 400 #neobanks in the world can actually make profit. Read more to learn the common reasons why most neobanks remain unprofitable.

Michelle Pacey, Managing Director of allpay Limited said: “In the ever-changing payments environment, it is important for allpay to be part of the journey that has seen financial institutions innovating alongside regulators and governing bodies.

With an existing market leading payments solution that serves some of the most vulnerable in today’s society, being able to build our own technology without the reliance on third parties enables allpay to push the boundaries of what we can do as a business.

The introduction of Confirmation of Payee will give both clients and consumers enhanced security as well as an improved user experience offering the opportunity to make more informed decisions around their finances.”

Nuapay discovers a 37% jump in payment declines after SCA.

Chargebacks911, the leading dispute technology specialist that powers chargeback remediation for the largest global eCommerce businesses and financial institutions, today celebrates the 3x boost to its automated dispute response platform with the addition of its data driven AI enablement.

The use of AI enabled remediation allows merchants of all sizes across dozens of verticals to intelligently fill the knowledge gap and thwart growth in first party fraud. Utilizing data from a vast consortium of businesses, this enhancement leverages rule-based data driven automation, enabling tech to be ‘trained’ to identify data points related to post transaction fraud.

• Joanne Dewar has been promoted to Vice Chair and will focus on the group’s growth and global profile
• Kevin Schultz has been appointed Chief Executive Officer and will focus on strategy and execution
• Both the new Vice Chair and CEO will work closely with the Chair, Gene Lockhart, in a newly formed Office of the Chair

In this article, Blue Train Marketing showcase four of their personal favourite fintech branding examples.

Blue Train Marketing’s, Kain Jagger, takes a deep dive into fintech inbound marketing and its many benefits. Find out more in his latest article.

Vesta, a leading end-to-end transaction guarantee platform for online purchases, today announced the hiring of experienced Identity and Fraud industry leader, Hrishi Talwar as Chief Product Officer. Hrishi Talwar will lead global marketing and product functions at Vesta. For more information visit www.vesta.io

PXP CEO, Kamran Hedjri sat down with Peter Krapfl, founder and CEO of DaoPay to discuss how their partnership will support merchants to galvanise their approach to payments, streamline their businesses and confidently expand into new markets.

The implementation of sophisticated payment systems in these untapped markets is significantly different to the previous experiences of digitally advanced countries in Europe, APAC and North America. There are two reasons for this.

Not long ago, providers offered embedded banking services as long as you could connect to their API. Now, the solution is much easier and more innovative than ever: no-code embedded finance. This article summarises why it’s a solution taking the FinTech market by storm.

Nucleus365, a UK-based payment institution offering a centralised platform for global payment processing, FX, and connected banking, has launched to market.

Banking Circle, the tech-led B2B Payments Bank, has further simplified B2B payments by adding Dynamic Sender Name to the suite of solutions available to Payments businesses. Delivering a consultative approach to ensure Payments businesses have access to the best payment solution for each customer use case, the addition of Dynamic Sender Name complements the other payment methods already available from Banking Circle.

The Office of Financial Services Implementation (OFSI) has published an updated version of its enforcement and monetary penalty guidance which comes into force on 15th June 2022.

JMMB partners with Stanchion to deliver innovative payments solutions to its customers across Jamaica, Trinidad and Tobago, and the Dominican Republic

FLEETCOR®, parent company of the UK’s leading fuel and electric vehicle (EV) management company, Allstar Business Solutions, today announces the appointment of Tom Rowlands as Managing Director of Global EV Solutions.

Now heading up FLEETCOR’s EV product solutions globally, Tom will focus expanding the company’s EV footprint, strategically rolling out the company’s market-leading EV products and services that will help fleets manage the transition to EV.

payabl. appoints Cyprus Country Manager in line with company growth and portfolio diversification aspirations.

• Customers will benefit from an enhanced card acquiring service at launch, and an alternative payment method (APM) aggregation service throughout Europe later this year.
• For customers, this means getting all services related to acquiring – from accepting card payments or APMs to receiving money from a single source, as well as access to 100+ payment methods, including mobile and patented phone-based payment solutions.
• As a result, administrative efforts will be reduced to a minimum, and customers will benefit from greater flexibility and less friction in the payment process.
• The new joint solution will give customers access to acquiring service for greater flexibility and less friction in the payment process.

Building on the success of its first sustainable stand in 2021, a recycled and recyclable stand has been designed for the Banking Circle ecosystem at Money20/20 Europe. Featuring every part of the ecosystem – Banking Circle S.A., YouLend, Biller, SEPAexpress and B4B Payments, every element of the stand, except the lighting feature, has been created using recycled materials.

See how banks are collaborating and using Fintech partnerships to innovate and build new digital capabilities to ensure a great customer experience.

Enfuce has created a new platform for existing and prospective customers to manage back-office operations and test new ideas for their card base. As a part of Enfuce’s turnkey solution Card as a Service, MyEnfuce makes it easy for Enfuce customers to start their card product and create value quickly. 

Orenda Finance is always looking for ways to improve customer experience, which is why they’re thrilled to announce that they are continuing to expand Orenda’s thriving marketplace with yet another exciting partnership. Already trusted by over 1000 clients, Sumsub has partnered with Orenda as a KYC/KYB vendor to support the quick and seamless onboarding of end customers onto Orenda client’s programs and platforms.

UK businesses see potential in Travel and Hospitality industry to offer better and more advanced payment systems

ECOMMPAY, a leading international payment service provider and direct bank card acquirer with its own fintech ecosystem for business growth, has appointed Francisco Mainez as its Head of Financial Crimes and Payments Digital Transformation.

More than half of UK businesses (54%) have expressed concerns about payment sanctions following international unrest, according to market research by international payment service provider and direct bank card acquirer ECOMMPAY. The data reveals that 18% of UK business leaders are extremely concerned about ongoing payment sanctions due to international unrest.

• Cameron Cox has been appointed Chief Transformation Officer at Global Processing Services(GPS), the issuer processor behind Revolut, Starling and Curve.

• He was Head of Technology Transformation & Global Chief of Staff at Worldpay and will spearhead global strategic transformation at GPS, taking them through the next phase of accelerated growth.

PPS has signed up to the Banking Framework offered by the Post Office Ltd that allows customers to deposit instantly using their existing Chip&PIN card.
Individuals and small businesses using PPS services can now deposit cash instantly to their accounts at 11,500 post offices across the United Kingdom.

Payment experiences have changed significantly over the last decade as more consumers and merchants expect payments to be made in real time and in their currency of choice.

• Cameron Cox has been appointed Chief Transformation Officer at Global Processing Services(GPS), the issuer processor behind Revolut, Starling and Curve.

• He was Head of Technology Transformation & Global Chief of Staff at Worldpay and will spearhead global strategic transformation at GPS, taking them through the next phase of accelerated growth.

Okay loves to talk about the future of payment security. So why not take a look at how the digital payment and security landscapes of the future are intricately connected, and at how authentication solution providers are indeed a central piece of that puzzle?

Finerio Connect, a Mexican fintech, together with Ozone API and Visa announce their collaboration to support financial institutions in Latin America & the Caribbean to navigate open banking. Collectively, the three companies will offer an end-to-end set of tools and capabilities enabling rapid implementations – according to market readiness and compliance requirements.

May 30, 2022. 2021 has seen a strong rebound post-pandemic in online shopping as the global e-commerce market amounted to 13 Trillion dollars in value that year. Emerging markets such as India, parts of Africa, The Balkans and the Baltics, have gradually become a stronghold for eCommerce businesses. The online sales increase from emerging marketplaces is expected to contribute to 20% of all retail sales in 2022. Local payment methods(LPMs) played a crucial role in supporting the growth of this economic activity by setting a native and stable payment infrastructure to support the demand for online shopping both locally and cross-border.

DECTA, a global payment processing company, announces a new partnership with Zimpler, a Swedish instant payment provider, to enable seamless account-to-account payments and payouts for European businesses.

Thames Technology is thrilled to announce that its Fusion Card will become the first metal card with a dual interface to be manufactured in Europe. Thames Technology, based in the UK, outside of London, has achieved this momentous break-through utilising Amatech IP, the de facto standard technology to dual interface metal cards globally.

Unless you’ve been living off the grid for the last 20 years, you’re well aware that the payment world is growing increasingly digital. So, it’d be logical to assume state-of-the-art technology is the predominant differentiator for payment companies — having the best tech should be the biggest competitive advantage, which implies businesses should heavily invest in R&D.

However, based on consumer reviews, that’s not necessarily the case. Tech matters, but it’s not the biggest factor in the eyes of the consumer.

As emerging technology continues to transform the way businesses and consumers spend their money and manage their finances, the future of banking looks to be bright, innovative and accessible. This article explores how new core banking platforms are innovating the sector.