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

Forward-looking banks go to market for fintech elevation

18th September 2018

Company: bobsguide
“There’s a reluctance,” said Hans Tesselaar, executive director of the Banking Industry Architecture Network (Bian), when asked about banks’ attitudes to opening up their systems to third party fintech vendors. “Why should you open up all your very sensitive bank account information to third parties when all... read more

Legacy failings ramp up finance's digital costs

18th September 2018

Company: bobsguide
The recent CIO Survey by Couchbase, the innovative NoSQL database company, found that financial services spent twice the industry average spend on digital transformation in the last 12 months, or $42m compared to the average $24m. The reason may be that financial services CIOs are investing in the wrong things, according to Jes Breslaw, Director... read more

Increasing regulatory complexity and the cost of compliance

18th September 2018

Company: Pendo Systems
Between 2009 and end of 2017, regulators in the US and Europe have imposed $342bn of fines on banks for misconduct, including violation of AML rules. Estimates suggest that is likely to top $400bn by 2020. Responsible for monitoring money laundering or theft, and detection of any potential financing of terrorism (CFT), FIs must perform KYC... read more

How ISVs and ISOs can control the customer experience without the risk

18th September 2018

What’s the main thing that payment facilitators have that ISVs and ISOs don’t? They control the merchant experience in ways that ISOs and ISVs can’t. Why? Risk decisioning lies with the payment facilitator. A great customer onboarding experience can be characterized by speed and ease, but the underlying drivers are how long it... read more

Risk sharing and risk reduction in the euro area banking sector: progress and next steps

18th September 2018

Company: Prometeia
The mantra of the European authorities when talking about the completion of the Banking Union is that there needs to be risk reduction in the banking sector before introducing further mechanisms of risk sharing. What form of risk sharing might this take and what are the risks that banks need to reduce? Risk sharing according to the European... read more

Eyesclear CEO: “Outside of all this existing software, there is a whole world evolving. Banks are not able to grasp that”

17th September 2018

Company: bobsguide
The regtech market is growing, and will become of increasing importance for financial institutions in the months to come. But for Erkin Oksel, CEO of regtech organisation EyesClear, an ingrained culture is preventing banks from investing in technological innovation. “The people in the banks should be appraised and should be supported when... read more

The Zero Fee card acceptance revolution: How they do it

17th September 2018

Company: bobsguide
The costly card payment acceptance fee is among the most frequently cited complaints of small businesses across Europe. Small merchants, a slave to ‘cash only’ and the swift departure of ‘card only’ customers from the shop, used to mean that commerce and transaction were lost for good. But, it would seem the... read more

Fintech tackles op risk

17th September 2018

Company: bobsguide
Organisations are met with operational risk wherever they turn. On the one hand, they encounter risks relating to employee behaviour, third parties, statistics and controls. On the other, equally important cultural, moral and ethical risks are also causing disruption. And everywhere they look, companies are faced with risks associated with ordinary... read more

Banks step up to the fintech threat

16th September 2018

Winning, or even succeeding, in today’s global market requires a new set of tactics. Manoeuvring through the rapidly changing landscape demands a wider and yet more detailed map. Gone are the days when providing a faster, better, cheaper solution is all it takes to stay ahead of the competition. Indeed, the only way for banks and financial... read more