August 14, 2019 at 01:36PM Melissa a leading provider of global name, address, email, phone, and identity verification solutions to improve user experience and KYC (Know Your Customer) compliance, today announced the launch of Melissa KYC, a unified compliance toolset enabling businesses to verify the identity of their customers easily, securely, and conveniently. This end-to-end identity verification solution includes ID… Source Melissa Debuts Mobile KYC App and Business Portal to Simplify Identity Verification … Selected by FCREG Search Web: Melissa Debuts Mobile KYC App and Business Portal to Simplify Identity Verification Continue reading Melissa Debuts Mobile KYC App and Business Portal to Simplify Identity Verification
September 26, 2019 at 11:10AM TSB today announced it will become one of the first banks to deliver Confirmation of Payee for its customers, partnering with Vocalink, a Mastercard company. The new ‘Verify Account Name’ service will help prevent TSB customers sending money to the wrong bank account or falling victim to payment fraud. Currently, when making payments, the account name is not checked when sending an electronic… Source OutSystems, provider of the number one low-code application development platform, today announced that CredAbility has used the OutSystems low-code platform to deliver a new financial wellbeing service. CredAbility aims to help … Continue reading OutSystems, provider of the number one low-code application development platform, today announced that CredAbility has used the OutSystems low-code platform to deliver a new financial wellbeing service. CredAbility aims to help consumers manage their credit score and lead better financial lives as well as bring innovation to an established market. The service is designed to help consumers de-mystify the complex world of finance and make better-informed financial decisions, giving free access to their credit score and report information along with the ability to check their eligibility for loans and credit cards in order to help them make better financial decisions. Launching today, the service CredAbility provides is just the beginning for this ambitious Fintech business. It launches by offering a credit score and detailed report information to its customers, with an option to check eligibility for lending products should an individual be looking to borrow. Consumers have an option to tailor action plans to meet their individual goals. For example, this may be providing guidance on how to improve their credit score, or ensure consumers are in the right financial position to apply for a mortgage or buy a car. CredAbility used the OutSystems low-code platform to design, develop, and deliver the new website and product. This will be followed in quick succession by a mobile application as CredAbility continues to evolve the customer experience. CredAbility has more than half a million consumers ready to use the new service at launch. “We wanted to move fast and were keen to work in an iterative and agile way in order to get our product ready to launch in as short a time as possible,” said Geoff Dearden, Director for CredAbility. “I was pleased with how quickly OutSystems was able to respond and help us deliver this.” Alongside its credit scoring and reporting service, CredAbility also provides an online guided Chatbox to help direct consumers to the right financial support and services. This sophisticated service has the ability to accurately judge an individual’s personal situation and, through a set of complex algorithms, takes them on a journey to find the best products and services, with recommendations that are tailored to their personal requirements. “This is a really exciting opportunity to be working with such a vibrant and innovative Fintech, which is providing exceptional services to help consumers better manage their finances,” added Garry Larner, Regional Director for Financial Services and Insurance at OutSystems. “Today, financial wellbeing is about having a sense of security and ensuring consumers have the right access to the right products and being in control of their day-to-day finances while having the financial freedom to make choices that allow you to enjoy life.” As CredAbility continues to evolve and expand its offering to consumers, the OutSystems platform allows it to build products and services that can be quickly and easily adapted and changed, which is another reason why it chose OutSystems.
August 14, 2019 at 02:55PM Melissa a leading provider of global name, address, email, phone, and identity verification solution… Melissa debuts mobile KYC app … Selected by FCREG Search Web: Melissa debuts mobile KYC app Continue reading Melissa debuts mobile KYC app
July 25, 2019 at 10:53AM Judopay, a leading mobile payments provider, has announced the launch of its new development tool kit, React Native. This latest addition to its tech suite comes as the payments provider takes one step further on delivering, ‘simply the best mobile payments experience’ for its customers. React Native is a programming framework that enables developers to build Android and iOS mobile apps using the… Source Judopay launches React Native to strengthen its mobile payments offering … Selected by FCREG Search Web: Judopay launches React Native to strengthen its mobile payments offering Continue reading Judopay launches React Native to strengthen its mobile payments offering
May 22, 2019 at 09:02AM The old adage is that a journey of 1,000 miles begins with a first step. In banking, the customer journey, of course, begins with the first steps involved in setting up a relationship — offering up names, addresses, Social Security numbers (SSNs) and a wealth of other data to set up accounts. However, that’s a process that needs to keep up with the times. Jim Priestley, chief revenue officer at Feedzai, pointed out that mobile banking has changed in the past five years — and as mobile banking efforts change, so, too, must the ways … Continue reading Paving Mobile Banking’s Path To Success
Module Guidelines Introduction Despite the considerable efforts devoted to fighting money laundering in recent years, it remains a constant threat. New risks from organised criminals, remote banking and terrorist funding have kept money laundering high on the regulatory agenda. 1. Anti money laundering 1.1 What is money laundering? The purpose of money laundering The main purposes of money laundering are to: z disguise the criminal origins of the property (to make it look as if the property comes from a legal source) z avoid law enforcement detection (to break the evidence link between … Continue reading [CiC] Unit 4 Other Key Compliance Areas
September 04, 2019 at 11:29AM We’re delighted to announce that we have agreed to a strategic partnership with global identity verification provider Onfido. We’ll be using Onfido’s technology to verify and onboard users to our platform. We have been testing for a number of months with our users and our partners and have received great feedback. Onfido’s AI-powered ID verification service offers ID verification on mobile… Source New partnership announcement: Onfido … Selected by FCREG Search Web: New partnership announcement: Onfido Continue reading New partnership announcement: Onfido
September 03, 2019 at 11:57AM Seven mobile payment firms covering more than 25 million registered users are clubbing together to f… M-Payment firms form Euro association … Selected by FCREG Search Web: M-Payment firms form Euro association Continue reading M-Payment firms form Euro association
July 29, 2019 at 10:25AM Starling Bank has partnered with SumUp, Europe’s leading mobile point of sale company, to provide small merchants with access to faster settlements. With its card terminals relied upon by over 1.5 million users globally, SumUp is helping small business merchants by delivering access to affordable and easy-to-use payment devices. Their terminals can be used with an accompanying app and… Source Starling Bank and SumUp partner to bring faster payouts to hundreds of thousands of small businesses in the UK … Selected by FCREG Search Web: Starling Bank and SumUp partner to bring faster payouts to … Continue reading Starling Bank and SumUp partner to bring faster payouts to hundreds of thousands of small businesses in the UK
July 29, 2019 at 09:21AM Starling Bank has partnered with SumUp, Europe’s leading mobile point of sale company, to provide small merchants with access to faster settlements. With its card terminals relied upon by over 1.5 million users globally, SumUp is helping small business merchants by delivering access to affordable and easy-to-use payment devices. Their terminals can be used with an accompanying app and… Source Starling Bank and SumUp partner to bring faster payouts to hundreds of thousands of small businesses in the U … Selected by FCREG Search Web: Starling Bank and SumUp partner to bring faster payouts to … Continue reading Starling Bank and SumUp partner to bring faster payouts to hundreds of thousands of small businesses in the U
July 19, 2019 at 11:04AM Kaleyra, an international leader in mobile messaging services for banks and companies of all sizes, and Epiphany, a technology start-up born in Italy and operating globally, specialised in digital banking solutions that “open up” open banking, have signed a partnership agreement to jointly support banks in their digital transformation efforts, from basic PSD2 compliance to delivering new banking… Source Kaleyra and Epiphany partner to lead banks into open banking … Selected by FCREG Search Web: Kaleyra and Epiphany partner to lead banks into open banking Continue reading Kaleyra and Epiphany partner to lead banks into open banking
July 15, 2019 at 03:25PM Bank of America has retained its ranking as a top issuer of Visa and Mastercard commercial credit and prepaid solutions in the U.S. The 2018 rankings were published by The Nilson Report, a financial industry publication covering card and mobile payments. Bank of America’s commercial card programs are managed within the Global Transaction Services (GTS) business that develops solutions to address a… Source Bank of America Is Top U.S. Issuer of Visa® and Mastercard® Commercial Solutions … Selected by FCREG Search Web: Bank of America Is Top U.S. Issuer of Visa® and Mastercard® Commercial Solutions Continue reading Bank of America Is Top U.S. Issuer of Visa® and Mastercard® Commercial Solutions
July 12, 2019 at 02:25PM Source: British Standards Institute This new PAS is for organizations with regulatory requirements under the Second Payment Services Directive (PSD2) and related regulations. It covers how organizations can implement robust customer authentication processes. In particular, … Continue reading BSI publishes code of practice for digital identification and strong customer authentication
May 22, 2019 at 12:01PM Many of us have seem them, and many of us have likely had the same reaction — those eScooters zipping along on sidewalks and streets, seeming to barely miss hitting cars and pedestrians, or being foiled by cracks, potholes and other obstacles. Scooter riders might not even be wearing helmets, which can make others feel as though they are about to witness a serious accident. Excuse the public service announcement scare tone, but it’s in service of a larger point. As the market for so-called specialized mobility options increases (we are talking not only shared … Continue reading Insuring A 10-Minute eScooter Ride? There’s An App For That
May 21, 2019 at 04:49PM Mastercard announced Tuesday (May 21) that it is collaborating with Samsung to research and develop ways for people to verify their digital identity on mobile devices. In a press release, Mastercard said that as it stands people have to manage multiple passwords and documents to ensure their identifying data and money remains safe. They are repeatedly required to offer up personal information to numerous agents. The more it is shared, the greater the risk to their security. Mastercard and Samsung are aiming to solve that problem with their new alliance. “Our digital and physical lives … Continue reading Mastercard And Samsung Team To Develop Digital Identity Services
May 20, 2019 at 08:10PM Czech Prime Minister Andrej Babis has proposed a national development fund to help invest in social issues, digitization of the economy, education and transportation, according to a report by Reuters. On Monday (May 20), the Czech Banking Association said it welcomed the proposal, and Babis said big banks in the country have agreed in principle on a starting capital of six billion Czech crowns ($259.92 million) to put into the fund. The fund will be established as soon as possible, and how much it accomplishes depends on the total amount of funding. The association said the fund … Continue reading Czech Banks To Invest $260M Into National Development Fund
May 20, 2019 at 02:30PM Fifty-four percent of Americans took part in the stock market between 2009 and 2017, according to Gallup research, and held individually or jointly owned stocks, funds or self-directed 401Ks or IRAs during that time. Younger consumers raised during the Great Recession and burdened by hefty student debts appear to be much less able or likely to risk their current funds on the chance of future gains, however. Gallup found stock market participation was at 62 percent for those between the ages of 30 and 49, but that number gets cut in half for the group … Continue reading Keeping App-Based Brokerages Secure
Coming up this week Regulation, Financial Services and Customer Centricity Del Nadarajah, Director at Deloitte and Yuelin Li, VP Strategy at OnfidoMay 21 2019 3:00 pm | 60 mins PSD2 open banking: Where do Risks and Liabilities sit? Kai Zhang, BCLP | Paul Meadowcroft, KonsentusMay 21 2019 4:00 pm | 60 mins An Office Manager’s perspective on HIPAA Compliance 24By7Security, Inc,.May 21 2019 5:00 pm | 60 mins Payments Strategy is the New Marketing Strategy Michele Tivey, Co-Founder & CEO, PayometryMay 21 2019 6:00 pm | 45 mins AlignMoney – Business and Personal Credit Cards in One Card and One … Continue reading Podcast – recommended
May 17, 2019 at 07:30PM Google managed the surprise of the week with the announcement that it was dramatically and quickly leveling up its eCommerce capability by essentially turning any and every Google surface (think Search, Images, YouTube etc.,) into a shoppable location. Though perhaps it shouldn’t have. Google’s enhancements to its shopping infrastructure have been more or less a steady drumbeat for the last 18 months. Since 2016, Google has been adding ads to an ever-increasing number of surfaces, has made it easier for local merchants to surface their inventory lists for consumers and has made so many enhancement … Continue reading Google Takes On Amazon With New eCommerce Features
May 17, 2019 at 09:00AM Money laundering scandals have rocked the reputations of major financial institutions (FIs) that are consequently launching new efforts to repair their images. The Estonian branch of Danske Bank was accused of failing to screen $230 billion in suspicious funds, while Swedbank was accused of mishandling more than $100 billion in suspicious funds. The two recently announced changes in leadership, and are partnering with four other Nordic banks on an initiative intended to improve security with a standard know your customer (KYC) practice. In this month’s AML/KYC Tracker, PYMNTS explores how FIs are turning to new … Continue reading Getting Millennials To Put Stock In Trading App Security
May 16, 2019 at 07:48PM Last week presidential candidate Sen. Bernie Sanders and freshman New York Rep. Alexandria Ocasio-Cortez made a lot of headlines with the Loan Shark Prevention Act — a big, wide-ranging piece of consumer protection legislation that would do two main things. First, it would cap the interest that could be charged by credit cards (and other forms of unsecured credit like payday loans) at a 15 percent annual percentage rate (APR). Second, the proposed legislation would turn roughly 30,000 post offices into providers of low-cost basic financial services, including checking accounts, savings accounts and some loans. The … Continue reading The Problems With Postal Banking
May 15, 2019 at 03:00PM When rideshare companies like Uber first hit cities, they shook the traditional taxi industry. The value of taxi medallions, or permits to operate taxis, dropped drastically, and lenders that served the industry struggled to stay afloat. Taxis offered professional drivers an established service model and compliance with strict regulations, but consumers still flocked to Uber for its convenience and seamless payments. Rival rideshare company Lyft launched three years later, compounding the taxi industry’s problems. Taxi companies in this competitive market must either innovate their existing models or get off the roads. Those looking to … Continue reading Deep Dive: Can Ride-Hailing Apps Keep Traditional Taxis Afloat?
May 15, 2019 at 01:00PM Restaurant technology firm Toast is stepping into the payroll sphere with its Toast Payroll & Team Management offering, it was announced on Tuesday (May 14). The integrated payroll and human resources management solution automates payroll and streamlines employee onboarding, while maintaining compliance, tracking hours and promoting accuracy in employee compensation. Its connectivity with Toast Point of Sale allows employees to clock in at the point of sale and verify that time tracking data is reflected in their wages. Toast noted that the solution also supports talent recruitment, enabling restaurants to track applicants and the performance … Continue reading Toast Steps Into Restaurant Payroll
May 15, 2019 at 09:02AM One of the more interesting – and perhaps even amusing – parts of human nature comes from the assumptions we attach to examples of growth and success. Once someone proves himself a winner, or something proves itself a winning proposition, many of us, despite knowing better, give into assumptions that growth and success will keep on flowing with relatively minimal effort. We give into notions of inevitability and certain progress, even though history is littered with countless lessons about why that is not usually the case. Sorry for the pop-up philosophy lecture, PYMNTS readers, but there … Continue reading Why The Sharing Economy Is Facing Its Big Trust Moment
April 23, 2019 at 12:01AM Yu Xu, TigerGraph: exploring the potential of graph technology Ten years ago, the world was in the grips of the Great Recession. Foreclosures mounted, the Dow had lost more than half its value in 17 months, and the unemployment rate reached double digits for the first time since 1982. No one knows when the next recession will hit, but many experts are sounding alarms over extremely high private debt levels that could explode much the way the $8 trillion housing bubble burst a decade ago. The world is swimming in a near-record $244 trillion in … Continue reading Could graph technology reduce the risk of another economic collapse?
April 11, 2019 at 09:03AM Securing alcohol is one of the grand adventures of life, especially if a person is younger than the legal age to buy. That’s not to put a romantic spin on an illegal and often dangerous activity, but how many of us have stories from high school about swiping some schnapps from Daddy’s basement bar, or fooling the liquor store clerk with a fake ID? Well, digital commerce and payments present a new opportunity for such stories and memories – and new challenges and dangers for beer, wine and liquor merchants looking to grow and thrive. … Continue reading Online Liquor Sales Are Booming – Can Digital ID Keep Up?
March 28, 2019 at 10:50AM EXCLUSIVE. Asian Development Bank (ADB) has selected Everest, a firm that uses blockchain for know-your-customer (KYC) purposes, to fix a cross-border issue in Samoa, Australia and New Zealand. Important that these e-wallets were accessible The contract with ADB was signed on March 1, with the implementation starting immediately and expected to be finished in Q3 of this year, Everest CEO and co-founder Bob Reid tells FinTech Futures. Everest was granted the contract after the call for proposals by ADB was made in October. ADB is an international development finance institut ion dedicated to reducing poverty … Continue reading Everest to supply KYC platform in Samoa for cross-border transactions
March 22, 2019 at 01:00PM Most consumers view seamless, smooth digital experiences across multiple channels as a top priority. They want to use their fingerprints to access their bank accounts and check their balances on their phones. They also want to buy groceries through digital assistants like Alexa, and pay with saved cards while also receiving recommendations for better prices and other products. These experiences risk creating friction if they cannot be synchronized between different channels, however. Customers using their laptops to log into their bank accounts may become frustrated if they can’t see recent smartphone transactions, for instance. In … Continue reading Deep Dive: The Road To Seamless Multichannel Authentication
March 18, 2019 at 12:01AM What is the Holy Grail of credit and lending transformation? INDUSTRY INSIGHTS FROM AFS Benefits of a digital and real-time credit and lending management solution include improved customer experience, cost savings and reduced closing and funding times – all boosting fees and net interest. Satisfied customers are vital whatever industry you’re in, but for the banking sector today’s competitive environment makes the ability to improve client experience and speed up closing particularly crucial. In credit and lending the most fundamental way to measure this experience is speed of response, which can only be facilitated with … Continue reading Client experience: hallmark of the digital credit and lending journey
March 15, 2019 at 09:12AM Financial institutions (FIs) must carefully balance staying compliant and keeping their customers safe, all without introducing frictions that could scare customers away. However, despite the friction points that can get introduced into the process due to anti-money laundering (AML) and Know Your Customer (KYC) processes, FIs have no choice but to comply, or they risk fines and loss of customer trust. The March AML/KYC Tracker explores the challenges FIs face to keep up with regulations, and the solutions that can help. Around the AML/KYC World Even well-meaning FIs and corporations can struggle to maintain proper compliance when … Continue reading What’s Missing? How Money Launderers In The UK Remain Unchecked