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Why The Current Neobank Model Needs To Evolve

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.

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General

allpay Limited launches Open Banking and Confirmation of Payee, for its Banking cardholder customers

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.”

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General

Chargebacks911 Celebrates 3x Boost to its Automated Dispute Response Platform With the Addition of Data Driven AI Enablement

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.

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General

GPS announces new senior leadership changes

• 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

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