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Fed Tackles Fraud On Legacy Rails As New Infrastructure Gains Traction

PYMNTS

Federal Reserve has introduced a new effort to combat payments fraud. PYMNTS explores these stories and others in this week’s Payment Rail Innovation Tracker. The Bank of Thailand is readying to commence work on new infrastructure aimed at streamlining financial transactions for the business sector, it recently announced.

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How Cannabis Can Become A B2B Payments Innovation Influencer

PYMNTS

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. Muller explained that the technology augments existing rails like eCheck and ACH to enhance data capture and transmission to complete a transaction.

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US Finance Crimes Org Calls For Private Sector Innovation

PYMNTS

The Financial Crimes Enforcement Network ( FinCEN ) is launching an initiative called the FinCEN Innovation Hours Program, as a call to private sector companies that have developed tech to fight money laundering and terrorist financing, the organization said in a release. FinCEN expects to hold events in the Washington, D.C.

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Why B2B Payments Can’t Shake Its Anti-Innovation Notoriety

PYMNTS

B2B payments have a reputation for being slow to innovate , though the last couple years has challenged that notoriety. Still, according to the latest Mercator Advisory Group report on FinTech disruption, B2B payments will have to wait a bit longer to see true change from these innovations.

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Technology Innovation Comes To Regulation

PYMNTS

As President of Trulioo, Jon Jones is passionate about protecting consumers and businesses from all facets of fraud and subsequent loss — but he doesn’t believe that doing so effectively has to come at the expense of technological innovation. In many ways, RegTech can be viewed as an innovation enabler.

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Israeli Startup Riskified is Said to Seek $200 Million Funding

Bank Innovation

Riskified, an Israeli startup that provides anti-fraud services for online transactions, is seeking to raise as much as $200 million, according to people familiar with the company’s plans.

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37 Corporate Innovation Labs In Finance

CB Insights

As fintech plays a larger role in the financial ecosystem, companies are looking for ways to use tech to solve problems and find new opportunities in the space. One popular approach: in-house financial innovation labs. Visa — One Market Center. Founded: 2013.