COVID-19: will fintechs crash, survive or get bought?
The fintech industry is no stranger to a crisis. The financial crash in 2008 gave rise to fintech darlings such as Funding Circle, Seeders and
July 13, 2020
The fintech industry is no stranger to a crisis. The financial crash in 2008 gave rise to fintech darlings such as Funding Circle, Seeders and
Starling Bank is the only challenger bank to record more app downloads in May than the year before, thanks to a tv ad starring a
Opinion: Going cashless might be convenient for many, but for others, it risks causing misery. The COVID-19 pandemic has become a catalyst for change, with
60 per cent growth in the number of Barclaycard customers who have gradually returned to trading and taking payments last week, compared to the first
The Payments Association, who represent 130+ members from across the payments industry, wishes to thank the CBI for inviting it to contribute to its research
Launch of unique individual sort codes and account numbers for all Mode users, powered by Modulr. In the upcoming weeks, Mode will roll out EUR
LONDON, England – 7th July 2020: OpenPayd, the API-led Banking-as-a-Service provider, today unveils its banking and payments solution for digital currency businesses. The proposition provides
European spend management market leader brings card issuance and settlements in-house July 8 2020, London: Spend management platform Soldo today announces that it has extended
Compass Plus has announced that it has teamed up with AWS to utilise the latest advancements of cloud-based deployment. The vendor of payments software and
The novel coronavirus outbreak that originated in Wuhan, China, in November of last year has since ignited a global pandemic that could permanently change the way business is conducted.
Not only that but, as with every economic crisis, there will be definitive winners from the aftermath of the economic fallout and these companies will help shape the future of e-Commerce in the USA/EU.
I’m pleased to announce the launch of Fi911 – a new brand from leading dispute technology specialist, Chargebacks911, built in collaboration with some of the world’s largest financial institutions (FIs) and payments processors to remove legacy redundancies.
Differing from its merchant platform, Fi911 specifically supports FIs with automated chargeback management and related activities. So, FIs will benefit from:
• Faster chargeback dispute resolutions
• AI-driven merchant onboarding, post-transaction monitoring, lifecycle management and reconciliation services
• Customizable tools catered to customers’ needs which can be reconfigured in real-time
• The ability to manage and engage their entire ecosystem
• Cost savings
• Increased insight
• Resolved chargeback pain-points
By enabling acquirers with more intelligent tools, more data connections, and more flexibility, Fi911 hopes for stronger decision-making and more proactive action to be taken to stop the growth of chargebacks.
Trust Payments Ltd, the global unified payments group for global pay-in, pay-out and customer journey technologies has today announced double digit growth in its 2019 statutory accounts.
While many analysts could never have anticipated the impact of the novel coronavirus pandemic on the world economy, there is a general consensus about what firms can do now and moving forward to build resilience against future “black swan” events such as the one currently roiling world markets.
When it comes to the future of banking and finance, forward-thinking firms are exploring the benefits of digital innovations, such as virtual IBANs and digital banking services.
The new Dos and Don’ts for any business looking to attract and keep new international customers.
Standing still is going backwards. That’s true for every business at all times, but especially in the harsh economic realities of 2020. A long-predicted downturn hit, ignited by the coronavirus pandemic, and no sector is free from its impact. But there are still opportunities out there, especially for online merchants looking to grow.
Payments, Payments, Payments newsletter providing informed insights into the UK’s payment landscape – read, subscribe and share at: www.northeypoint.substack.com/welcome
Contis hires Businesswoman of the Year, Lara Oyesanya, as General Counsel & Chief Risk Officer.
Cybertonica CEO and Co-Founder Joshua Bower-Saul along with Tony Craddock of The Payments Association discussed the Impact of COVID-19 on Payments Security at Payment Systems Regulation and Innovation Online Conference on June 4th, 2020.
Hosted by City & Financial Global, Payment Systems Regulation and Innovation Online Conference focused on all aspects of payments innovations, including regulatory framework, in the context of the new challenges brought on by the current global crisis.
Issues covered in the event include:
– Reducing the risk of fraud and cyber risk with and within the next generation of payments security
– Shaping and re-shaping the payment industry: privacy, data access and regulatory considerations
Cybertonica, a leading risk and fraud management platform using advanced data science techniques to meet the challenges in payments and fintech of risk, AML, compliance and fraud detection, today announced a partnership with Extra Loyalty, the award-winning Turkish loyalty and wallet platform specialised in end-to-end customised loyalty programmes and mobile technologies.
Be at the forefront of the digital revolution
By the time the world recovers from the aftermath of COVID-19, banking institutions would have seen a vast transformation in their systems, processes, and customer relationships. New future-ready, digital banking solutions will offer as secure, as easy, and as welcoming customer experiences as the brick-and-mortar ones provide. At Maveric, we help banks accelerate their transformation initiatives by integrating domain, UX design, technology, strategy, and execution. We have been enabling banks to achieve their customer satisfaction goals and accelerate their digitization journeys with modern technology solutions. A calculated and well-thought plan and collaboration with the right fintech solution providers will help get you ready for this dynamic and ever-evolving journey of going digital and help you to rise above such extreme situations, now as well as in the future.
In this blog, fscom Senior Manager Colin Sloan outlines the application process for priority cryptoasset registration.
In this blog, fscom’s Alison Donnelly comments on the FCA’s increased focus on winddown plans.
Join fscom’s Alison Donnelly and Carol Rossborough of ESTHER for the second in our series of EWPN Ireland Virtual Meetups.
Register here… https://www.eventbrite.co.uk/e/ewpn-ireland-virtual-meetup-tickets-111801617648
Judopay, a leading mobile-first payments provider, today announced that it has partnered with Thyngs, the physical-digital marketing specialist, to offer touch-free cashless payment solutions to businesses across the hospitality sector that are reopening from 4th July. At the same time, the partnership will offer charities another way of accepting cash-free donations, both during and after the pandemic.
The future is coming at us a lot more quickly than anyone anticipated. In light of the novel coronavirus and the pandemic it caused, keeping up with the technological advancement seems to be a top priority in most industries.
While many market analysts fingered digital banking as the wave of the future, nearly everyone is shocked at how fast these trends have accelerated in the past couple of months.
As of 1st July 2020, the Aston Lark Financial Institutions team will join the Protean Risk brand, making the combined team one of the largest dedicated brokers servicing UK and European financial services firms.
Protean Risk was acquired by Aston Lark and joined the wider group in November 2019. Protean Risk was the first acquisition that was completed for Aston Lark following Goldman Sachs’ investment in the company in September 2019.
The decision to combine the two teams under the Protean brand was due to its position as a market-leading specialist in the sector and to strengthen its offering to clients. Since its founding in 2008, Protean Risk has offered a breadth of knowledge and experience to its clients, as well as a high level of personal service. Since 2016, Protean Risk has held the coveted status of Lloyd’s of London Broker, which has entitled them to transact business in, and directly access the Lloyd’s of London market.
Globalisation is an opportunity for businesses of all sizes around the world, but traditional banking continues to favour large corporations, at the expense of SMEs.
Mike Laven says of the partnership with Ripple, “Ripple’s solution will help us to extend our network to new parts of the world, removing more barriers to payments for our clients.”
In the UK, a consequence of the prolonged lockdown resulting from Covid-19 has been to lay bare the differences of the ‘haves’ and ‘have nots’
On 11th March 2020, the World Health Organization (WHO) declared the COVID-19 outbreak a pandemic. At the time of writing, hundreds of thousands of lives
During the COVID-19 outbreak and lockdown, we’ve seen the way people alter their behaviours when it comes to paying for goods and services, whether
It’s no news that the retail industry has been flipped on its head by the COVID-19 pandemic. Due to the lockdown, most in-store operations have
Contis launches ‘Carer Banking’ – a new product allowing banks and fintechs to support their vulnerable customers continuing to shield due to Covid-19.
Opinion blog by Peter Cox, CEO and Founder of Contis Group. Analysis on the impact of Covid-19 and Wirecard on the payments industry, and what it’ll take for companies to survive.
A personal account of the experience of being furloughed and 7 top tips to help come out the other side in a more positive place.
Tony Craddock, Director General of the The Payments Association, spoke with ARYZE, to talk through some of the biggest payments developments taking place due to
Online crime gangs have used the coronavirus pandemic to scam consumers and businesses across the globe. So, this blog examines 4 key types of Covid19-related fraud to help keep you and your business safe.
Mastercard (NYSE: MA) today announced it has entered into an agreement to acquire Finicity, a leading North American provider of real-time access to financial data and insights. The purchase price is US$825 million, and Finicity’s existing shareholders have the potential for an earn-out of up to an additional $160 million, if performance targets are met.
The Payments Association and its members strongly urge the FCA to unfreeze Wirecard Card Services accounts, or facilitate a solution to enable safe access to e-money by e-money holders affected, as soon as it can, for the sake of cardholders, companies and their employees, and the UK fintech industry. Without this freezing being removed rapidly, we believe there will be significant and lasting damage to individuals, companies and the UK’s current and future prospects as leaders in fintech.
During RSA Conference 2020, Yubico interview Guido Ronchetti, XTN’s CTO, about the challenges related to PSD2 and open banking.
Banks are shutting down tens of thousands of accounts every year due to suspected fraud; on average, Santander closes down 24,000 accounts each year, and just under half of all those are suspected mule accounts – a huge proportion.
When we’re on the subject of malware and cyber attacks, we usually focus our attention on cybercrime as a totally unknown, uniform entity. Nevertheless, cybersecurity specialists, such as buguroo’s team, are always mindful not only of the codes used to develop computer viruses, but also of the processes adopted to implement campaigns and the targets they were aimed at. It is these three elements that provide a lot of clues as to who may be behind them.
New account fraud, also known as Account Opening Fraud or Online Account Origination Fraud, is when fraudsters use stolen or synthetic identities to open new bank accounts, with a view to maxing out their credit limits before disappearing into thin air, usually within 90 days.
Xwebinar is an on-demand webinar series focused on cyber threats and fraud topics. This episode talks about one of the most common threats: Account Takeover also knows as ATO.
For the second consecutive year, XTN is listed as Representative Vendor in Gartner’s Market Guide for Online Fraud Detection.
The Summer of Payments series brings you everything you’d ever want to know about UK, EU & card payment schemes as well as the latest and greatest in payments technology in five 30 minute entertaining doses.
With the EU predicting a recession of ‘historic proportions’ this year, how will this impact the growth of digital banks in Europe? Where are the
An insightful webinar session hosted by OpenPayd that focussed on overcoming banking and payments challenges for digital asset businesses. Businesses dealing with digital assets have
Newport, South Wales – 21st May 2020 – W2, the leading provider of real-time digital solutions for global regulatory compliance, announced today that it has
Payments Association publishes new guidance on digital identification and authentication to help tackle financial crime New report focuses on how the payments industry can keep
