Global Payments & Transfers Insights

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Banking services “unbundling” in fintech market

2nd October 2018

Company: bobsguide
At the recent Amazon Web Services FS Insight conference, Jonno Southam, venture capital business development manager at AWS led a panel with Jai Juneja, head of tech investment at Seekventures and Kartik Varma, co-managing director at the Barclays Accelerator. The conversation focused on how fintechs are investing, as the panellists identified... read more
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Crime costs rise as fintechs rely on “old school” security measures

1st October 2018

Company: bobsguide
The cost of fraud to financial services increased by 9.3% over 2017, according to research conducted by LexisNexis Risk Solutions. For every $1 stolen by fraudsters, it costs financial services firms $2.92 in fees compared to $2.67 last year. Further, the level of fraud as a percentage of revenue has moved upwards from 0.95% to 1.53% on average. ... read more
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UK “concerned” about Open Banking

28th September 2018

Company: bobsguide
More than three quarters of the UK are concerned about sharing financial data with organisations other than their bank, according to a recent poll by market research body, YouGov. Of those surveyed, 77% said they were concerned around data sharing, with 45% saying they didn’t understand the benefits of Open Banking, and a large number of... read more
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Brexit uncertainty forces fintechs, challengers to look abroad

25th September 2018

Company: bobsguide
UK challenger banks and fintechs are making moves to ensure their services will be available to customers in the European Union after Brexit. Starling was granted a banking passport into the Republic of Ireland last year, while Revolut has begun the process of applying for an e-money licence in Luxembourg. “This ensures that Starling can... read more
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From closed to open: why banks need to emulate the big tech players

25th September 2018

Company: Icon Solutions
They say imitation is the sincerest form of flattery. If that’s the case, there should be an outpouring of adulation from banks to GAFA (Google, Amazon, Facebook, Apple) and BAT (Baidu, Alibaba, Tencent). Big tech companies have mastered the art of openness. They have weaponised it and are now reaping the rewards. In the era of Open... read more
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The rise of the chatbot: fintechs and investors embracing social media

25th September 2018

Company: bobsguide
Chatbots have been around for more than half a century, and they’re often dismissed as little more than a source of empty small talk for bored social media users. Yet over the course of the last few years, fintechs have turned that perception on its head by transforming traditional social media chatbots into dynamic and secure payment... read more
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How banks are preparing (or not) for T2/T2S consolidation

24th September 2018

Company: TAS Group
In 2020 another seismic upheaval looms on the horizon for the European financial community. This time the main players are the European central and national banks. Vision 2020, as the Eurosystem’s T2/T2S Consolidation project is known, sees the technical consolidation of TARGET2 and TARGET2-Securities and the harmonisation and integration of... read more
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Danske Bank: What we know so far

21st September 2018

Company: bobsguide
A National Crime Agency (NCA) spokesperson told bobsguide this morning it is “aware of the use of UK registered companies in this case and has related on-going operational activity. The threat posed by the use of UK company structures as a route for money laundering is widely recognised and the NCA is working with partners across government... read more
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As Brexit threatens, Absa Bank opens Africa to UK investors

19th September 2018

Company: bobsguide
Last week Absa Bank, one of Africa’s largest diversified financial services groups, launched its UK office.   The move supports the group’s ambition to open Africa to the UK and Europe as the preferred corporate and investment banking partner, even if trade relations between the UK and Europe seem to be heading for a no-deal; the... read more
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How using prepaid cards for remittances can grow financial inclusion in LatAm

19th September 2018

Company: Compass Plus
Remittances to Latin America are big business. According to research by The Dialogue, the value of remittances to 17 countries in the region grew by over 8% from 2016 to 2017, reaching over $75bn. This increase far exceeds the World Bank’s forecasted 1.2% economic growth for the entire region and, in terms of scale, remittance growth was... read more