Subscription fraud ‘disappearing acts’ have economic, human and reputational consequences. What were initially isolated cases have now become a systemic industry issue for telecommunication companies worldwide. In fact, the CFCA reports an approximate $2.03 Bn. lost to fraud every year due to subscription fraud through impersonation. Other variants of subscription fraud through applications and ‘credit muling’ contribute an additional $1.93 Bn. and $1.75 Bn. respectively.
Sibos 2019 kicks off in London in three weeks, and the theme for this year is "Thriving in a hyper-connected world." The market has long demanded quicker and more convenient payment methods, and the industry is now answering with ubiquitous payments. Yet at what cost? PSD2 and open banking are
The financial services industry is under continued pressure to create more convenient ways of paying for goods and services. This trend goes beyond common hype. It’s a cultural shift from long-standing payment methods traditionally defined by industry heavyweights to embracing market demands and delivering customer-centricity. With digitisation, new market entrants
The financial services industry has witnessed considerable hype around artificial intelligence (AI) in recent months. We’re all seeing a slew of articles in the media, at conference keynote presentations and think-tanks tasked with leading the revolution. AI indeed appears to be the new gold rush for large organisations and FinTech
This discussion of the Regulatory Technical Standards (RTS) is the third post in a series explaining the Revised Payment Service Directive (PSD2) and how it will affect banks. For background, read my two previous posts, PSD2: Understanding the new payments regulation in Europe and PSD2: How new European payment regulations
The Payment Services Directive 2 (PSD2) is a new European-wide regulation that requires European banks to make it easier to share customer transaction and account data (where the customer has given their consent) with third party providers, and it's the current hot topic across the payments industry in Europe. As
The revised EU Payment Services Directive (PSD2) has been a focal point for the financial services industry over the last couple of years and its adoption is set to revolutionise the payment ecosystem in Europe. New entrants, innovative technologies and increased regulation are already posing major challenges to traditional banks