How quantum will change everything (including banking, money and security)
Chris Skinner
MARCH 21, 2018
I know that we deal with quite complicated things in financial technologies.
Six Keys to Meaningful Evaluation of New Financial Technology
Jack Henry
NOVEMBER 26, 2021
Banking and securities lead all industry sectors in terms of average IT spending as a percentage of revenue, at nearly 8%, according to a 2018 Deloitte study. Global IT spending in the banking sector during 2021 is estimated to be nearly $300B.
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Finovate Fall 2017 Day One: Data Analytics, ID Verification, and Cybersecurity
Bank Innovation
SEPTEMBER 12, 2017
Finovate kicked off its 2017 Fall conference with demos from about 40 financial technology companies on its first day yesterday in New York.
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Corporate Payments Firm AccessPay Secures US Backing
PYMNTS
JANUARY 15, 2019
. “We are one of a few players in the world focusing on that space,” said AccessPay CEO Anish Kapoor, adding that the company addresses the friction associated with back-end corporate financial technologies operating in siloes.
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Credit Union Sues Fiserv Over ‘Baffling’ Security Lapses
PYMNTS
APRIL 29, 2019
Bessemer System Federal Credit Union, a financial organization in Pennsylvania, is suing financial technology company Fiserv Solutions over what it calls rampant billing errors, significant bugs and “baffling” security lapses, according to reports.
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Onespan Publishes Top Ten Predictions for 2021 Focused on Financial Technology
Banking Exchange
DECEMBER 4, 2020
OneSpan, one of the leaders in Financial Technology, released its 2021 Security and Fintech Predictions The Economy Technology Tech Management Outsourcing/Cloud Mobile Online Cards Branch Technology/ATMs Security Feature3 Fintech Financial Research Feature Financial Trends.
Fed Task Force Releases Payment Lifecycles And Security Profiles
PYMNTS
MARCH 16, 2018
Through the collaborative efforts of those with backgrounds in payments and security, the Federal Reserve’s Secure Payments Task Force has published “Payment Lifecycles and Security Profiles.” They also cover security methods — and identity management controls — along with relevant laws and regulations, among other topics.
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User Experience Is Key to Customer Satisfaction, Report Says
Bank Innovation
APRIL 17, 2019
Having a "frictionless" user experience (UX) is among the top three qualities that bank customers look for when picking a new bank, right after "security" and "trustworthiness," according to a new report by financial technology provider, FIS.
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ATM tech, security, Bitcoin ATMs earn top spots in 2021 blogs
ATM Marketplace
DECEMBER 28, 2021
Every year we at ATM Marketplace get qualified blogs from thought leaders in the ATM and financial technology industries. 2021 was no exception as bloggers covered topics ranging from Bitcoin ATMs to skimmers to biometrics.
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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend
Perficient
JULY 11, 2022
I used Afterpay for the shoe purchase because it allowed me to not take as big of a hit to my bank account at a time when I had more expenses than usual occur all at once so that I could feel more financially secure as I awaited my next paycheck. Looking Ahead in the BNPL Landscape.
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Legislators Work On Proposal For Japan To Create Its Own Crypto
PYMNTS
JANUARY 24, 2020
The crypto could be a joint effort between private firms and the government, which would help Japan tap into worldwide shifts in financial technology, as the Parliamentary Vice Minister for Foreign Affairs Norihiro Nakayama told Reuters. The first step would be to look into the idea of issuing a digital yen,” Nakayama said.
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Revolut Brings Open Banking To Germany In Deal With TrueLayer
PYMNTS
NOVEMBER 17, 2020
Open banking lets third-party financial service companies to have access to a consumer’s banking transactions and other financial data from financial institutions (FIs). Revolut said its new open banking offer was developed with TrueLayer , a London-based financial technology (FinTech) company.
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UK Retail Banks Draft FinTech Alliance Guidelines
PYMNTS
NOVEMBER 8, 2018
banks and financial technology firms have worked together to create a set of guidelines to improve the relationship between FinTech startups and financial institutions (FIs). USD) a year into financial technology companies. has been a hotbed of FinTech startups.
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Mastercard Leads Investment In Mobile FinTech Mobeewave
PYMNTS
NOVEMBER 15, 2018
Maxime de Nanclas, COO and co-founder of Mobeewave, said, “Securing strategic funding from organizations with a proven track record of supporting innovation, especially financial technologies, will enable Mobeewave to continue to grow, [and] develop new product offerings and business partnerships.
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Facebook Can Now Use Visa Token Service for Payments
Bank Innovation
OCTOBER 24, 2017
Continuing its development of financial technologies on its platform, social media firm Facebook has joined a Visa program that enables the network to access its Token Service for payments, Visa announced today.
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236 Is the Future of Finance Biometrics? Ant Financial Pays $70M to Find Out
Bank Innovation
SEPTEMBER 14, 2016
Financial technology may be evolving at a rapid pace, but well, so is financial crime — meaning that the security of online and mobile payments is a constantly developing area and nowhere more so than biometrics. This is obviously of interest to financial institutions across the globe, like the company Read More.
Hong Kong Permits Virtual Banks in Test to Traditional Lenders
Bank Innovation
MARCH 27, 2019
Hong Kong’s traditional banks are set to face one of their biggest challenges yet: a new breed of financial technology firms estimated to snare as much as 30% of their revenue. The Hong Kong Monetary Authority has granted three virtual bank licenses and is processing five more, Deputy Chief Executive Arthur Yuen said in a […].
This week’s podcast: Do we need a National Financial Technology Commission?
CFPB Monitor
DECEMBER 5, 2019
In this podcast, we are joined by Tom Vartanian, who leads the Financial Regulation & Technology Institute of George Mason University Antonin Scalia Law School, to discuss his proposal for the President and Congress to establish a National Financial Technology Commission.
The Corporate Card Faces New Hurdles In AP Departments
PYMNTS
JANUARY 27, 2021
Innovation in financial technology means that we are now able to deliver products and services that are as credible, robust and secure as banks, but free of legacy issues, while being more obtainable, affordable and better suited to the small- to mid-sized business sector,” said Tat Capital Founding Director Ram Gorlamandala in a statement.
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FinTech Startup Revolut Raises $80M In New Funding, Now Valued At $5.5B
PYMNTS
JULY 24, 2020
has secured $80 million in new funding at a $5.5 Since then, the financial technology (FinTech) company has expanded its portfolio to also offer business banking. London startup mobile bank Revolut Ltd. billion valuation as part of its Series D round that kicked off five months ago.
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Fed Tackles Fraud On Legacy Rails As New Infrastructure Gains Traction
PYMNTS
JUNE 23, 2020
In an announcement made last week, the community bank said the integration will support customers that seek “new functionality” from their banking service providers, according to Chief Information Officer DJ Seeterlin, who added that customers “need financial technology tools that align with their personal and business needs.”
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Galileo Financial Technologies adds 3D Secure to improve fraud protection
The Paypers
JULY 24, 2024
Galileo Financial Technologies has announced the launch of Galileo 3D Secure (3DS) Access Control Server (ACS) to help clients against cars-not-present (CNP).
Taking Real-Time Payment Rails To The Tipping Point
PYMNTS
MARCH 6, 2020
The aim of creating this system was both to provide more speed and security to the country’s merchants. Financial technology provider Fiserv has devised a technology that allows individuals to accept payments on consumer-grade smartphones and other digital devices, as well as handheld business point-of-sale (POS) systems.
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Bitcoin Daily: UK Researching CBDC Use Cases; Lebanon To Introduce CBDC In 2021; SEC Member Pushes For Cryptocurrency Regulation; ShapeShift Delists Three Privacy Coins
PYMNTS
NOVEMBER 10, 2020
In other news, Securities and Exchange Commission (SEC) member Hester Peirce expressed hope that securities regulations concerning cryptocurrencies will speed up to match the speed of financial technology innovation.
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Ant Financial Debuts Technology Brand For FIs
PYMNTS
SEPTEMBER 20, 2018
20), Ant Financial announced the launch of Ant Financial Technology, a unit designed “to support the growth of financial institutions by improving user experience and lowering cost.” In a press release issued Thursday (Sept.
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174 The legacy clock is ticking
Chris Skinner
MAY 12, 2017
Chris has been voted one of the most influential people in banking by The Financial Brand. He is also one of the Top 5 most influential people on BankInfoSecurity’s list of information security leaders, as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal.
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Bitcoin Daily: People’s Bank Of China To Certify Digital Payment Products; Korean Security Agency Supports Blockchain Projects With $9M Fund
PYMNTS
OCTOBER 30, 2019
The People’s Bank of China announced that it will certify 11 types of financial technology hardware and software used for digital payment and blockchain services. In other news, the Korea Internet & Security Agency (KISA) announced that it plans to support blockchain-related projects in 2020 with 10.5
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Bitcoin Daily: Bank Of Canada Tests DLT; Crypto Startup Uphold Gets Into Loans
PYMNTS
OCTOBER 23, 2018
SBI President and CEO Yoshitaka Kitao said in the announcement that signatures based on MPC “offered our desired level of security, performance and scalability needed to manage transactions for our growing SBI Virtual Currencies customer base.”.
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Small business loan processing: Automate back-office tasks
Abrigo
FEBRUARY 25, 2025
The speed advantage may be due to large banks greater use of automated lending technology, the FDIC said, although large banks increased reliance on hard credit-scoring information may also play a role. Among large banks, 42% currently use financial technology in small business lending, compared to 30% of small banks, according to the FDIC.
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EU To Crack Down On Stablecoin Projects
PYMNTS
JUNE 29, 2020
Valdis Dombrovskis , the EU’s executive vice president of the European Commission for an Economy that Works for People, told attendees of the Digital Finance Outreach 2020 , a series of events for the 27-nation bloc on financial technology companies, that Europe must become the leader in crafting rules for digital finance.
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221 U.S. Congress Launches Task Forces for Fintech, AI
Bank Innovation
MAY 10, 2019
House Financial Services Committee has unanimously adopted two resolutions establishing task forces for fintech and artificial intelligence. The Task Force on Financial Technology will examine issues including “the current legal framework for fintech, how fintech is used in lending and how consumers engage with fintech,” the committee stated.
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MetaBank, Fiserv To Issue Preloaded Visa Cards For Stimulus Payments
PYMNTS
APRIL 30, 2020
Treasury will allow two financial technology companies to issue prepaid Visa cards loaded with coronavirus stimulus payments. Darren Soto, a Florida Democrat, argued that blockchain provides security and can address the problems the IRS has faced in distributing funds during the crisis.
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Wirecard’s Former CEO Markus Braun Arrested
PYMNTS
JUNE 23, 2020
The 50-year-old executive faces charges of accounting fraud and market manipulation designed to artificially inflate the financial technology company’s balance sheet to make it look more appealing to investors and customers, the Financial Times reported. billion euros ($2.1 billion), prosecutors confirmed on Tuesday.
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Mitek Upgrades Digital ID Verification With NFC Technology
PYMNTS
OCTOBER 22, 2020
A major provider of financial technology to banks, Mitek Systems said its digital identity verification software will now incorporate near-field communication (NFC) technology as well. Mitek, a top developer of digital identity verification and mobile check deposit technology, announced on Thursday (Oct.
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Senate Federal CEO On Protecting Member Trust During Digital Overhauls
PYMNTS
APRIL 1, 2020
CUs are also employing technologies for security and for consumer satisfaction. These include tools that use artificial intelligence (AI) and machine learning (ML), such as the Linked Analysis tool developed by financial technology provider PSCU. How USSFCU Secures Its Digital Infrastructure Makeover.
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Intel Secures AI Partnerships For FinServ, Supply Chains
PYMNTS
SEPTEMBER 5, 2018
Baidu’s Baidu Cloud solution will integrate Intel’s Xeon Scalable processors, as well as Intel’s Math Kernel Library-Deep Neural Network technologies, to develop financial technologies for banks in China.
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Financial Technology & Security Startups: Join the Ultimate Startup Ecosystem
Let's Talk Payments
MAY 16, 2016
Plug and Play Tech Center, the world’s largest global technology accelerator and venture fund, is opening applications for for Plug and Play FinTech’s Fourth Batch. Press Release} SUNNYVALE, CA, May 16,
Galileo Financial Technologies launches wire transfer capabilities
The Paypers
JULY 10, 2024
Galileo Financial Technologies has announced the launch of wire transfer capabilities in order to help fintechs meet the demand for fast and secure money movement.
IMF’s Lagarde Calls Out FinTech As Industry Disruptors
PYMNTS
JUNE 9, 2019
Reuters reported Lagarde said that technology companies’ use of big data and AI i ncreases big tech companies’ dominance in the mobile payments market, which could result in policymakers around the world rethinking how they regulate the banking system and how they ensure financial settlements are made safely and securely. “A
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Citi Venture Investing Head: ‘Financial Services is Becoming More Like Tech’
Bank Innovation
MARCH 1, 2019
This is up from 35% in 2017, and way up from 18% in 2013, according to Financial Technology Partners’ 2018 Annual Fintech Almanac. Strategic participation in fintech climbed in 2018, with 41% of all fintech financings containing either a corporate VC or strategic investor.
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SoFi Deals Point To Question: ‘Just What’s a Bank?’
PYMNTS
APRIL 23, 2020
To that end, earlier this month FinTech firm SoFi made the leap beyond San Francisco to Hong Kong, having bought online brokerage firm 8 Securities. The financial terms of the deal were not disclosed. But the expansion, giving rise to the new SoFi Invest will offer “automated investing” and financial education.
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How Cannabis Can Become A B2B Payments Innovation Influencer
PYMNTS
JULY 10, 2020
Speaking with PYMNTS, Muller highlighted the opportunity that the cannabis space has to adopt payments and other financial technologies that have leapfrogged over legacy solutions. As it turns out, other industries can benefit from technology that addresses those same pain points.
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Some SMBs Switched Banks When PPP Loans Failed To Come Through
PYMNTS
AUGUST 2, 2020
In a July survey of 931 firms that received PPP loans, Barlow Research Associates, the Minneapolis-based bank market research company, revealed that of the businesses that secured PPP funding, 28 percent received their loan from a lender with whom they had no prior relationship or a bank that wasn’t their primary one. to InBankshares Corp.
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Consumer Financial Protection Bureau Seeks Advice On Financial Data Access
PYMNTS
JULY 26, 2020
The announcement by the Consumer Financial Protection Bureau ( CFPB ) comes on the heels of a symposium it held in February which included experts from consumer groups, financial technology (FinTech) companies, trade groups, banks and data aggregators.
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