PYMNTS

NOVEMBER 13, 2020

Another related theme is the need for legacy core banking systems to upgrade in ways that don’t protract disruptions. Several narratives have emerged from this pandemic. First has been the focus on digital transformation that essentially saved the economy during lockdowns.

Payments 259

Payments User Experience Meeting System 259

Perficient

FEBRUARY 4, 2021

A study from the Journal of Information Systems Technology and Planning estimated that “Defects found in testing were 15 times more costly than if they were found during the design phase and 2 times more than if found during implementation” It is much more efficient to resolve defects earlier in the process rather than later on.

UX 531

UX Guidelines Compliance Study 531

CFPB Monitor

JULY 12, 2022

The CFPB is seeking experts in data science, software engineering, product design, product management, and user experience (UX). They serve to underscore the need for financial institutions to be in a position to defend their use of newer technologies when they are scrutinized.

UX 78

UX Regulation Technology User Experience 78

Insights on Business

JUNE 20, 2018

In today’s global marketplace, financial services firms must grapple with competition, increasing regulation and market volatility while also maintaining profitability and growth in a world disrupted by emerging technologies and fintechs. Simply put, traditional systems and business processes just aren’t enough. OpenPages 8.0

Regulation 70

Regulation Compliance Analytics System 70

Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Branch networks and banking hours have been replaced with mobile banking and user experience as important decision criteria in choosing financial relationships. Regulations & Guidance Forthcoming.

Compliance 195

Compliance Training Regulation Fraud 195

PYMNTS

NOVEMBER 17, 2020

American Express has enhanced its Early Pay system with digital payment features aimed at giving large businesses greater control over their ability to make and receive B2B payments, the company announced Monday (Nov. American Express Enhances Early Pay To Ease B2B Supply Chain Payments. PwC Creates LIKEZERO For Enhanced Data Capture.

Payments 144

Payments User Experience Software Risk Management 144

PYMNTS

MARCH 11, 2020

“The lending ecosystem has witnessed remarkable transformations, and is now marked by changes in operations, availability of capital, new laws and regulations around lending, differences in borrower eligibility criteria and terms of loan acquisition and repayment, among others,” said Akash Sinha, CEO and co-founder of Cashfree.

Lending 130

Lending User Experience Capital Innovation 130

PYMNTS

AUGUST 9, 2019

iPhone users within the range of responsible lending and regulations, per the sources. The move is said to follow the desire of the technology company to offer its clients a good user experience. Apple reportedly wanted its bank partner to create a platform that would approve the most possible U.S.

Apple 156

Apple Cards User Experience Report 156

PYMNTS

FEBRUARY 2, 2021

Regulators are also getting on board with letting NFIs offer financial products in emerging economies, broadening the financial services ecosystem, said Wain. But there is a lot more to having a secure and stable issuer processing system. QR codes and even peer-t0-peer (P2P) options are gaining favor, especially for smaller retailers.

Mobile 235

Mobile Payments System User Experience 235

PYMNTS

OCTOBER 29, 2020

Offering a secure payment experience requires rigorous authentication or time-consuming behind-the-scenes security checks, which can often conflict with customers’ collective desire for an Uber-like frictionless experience. Automating fraud detection, meanwhile, can help provide a seamless yet secure B2B payments experience.

Payments 213

Payments Fraud Meeting Security 213

Insights on Business

MARCH 7, 2019

In a business environment defined by sustained market volatility and ever-increasing regulations, companies need the ability to integrate enterprise-wide risk management processes and multiple regulations. What tools and processes do they need to have a more engaged and empowered first line? Risk cannot be seen as someone else’s job.

User Experience 93

User Experience Risk Management Compliance Regulation 93

PYMNTS

SEPTEMBER 24, 2019

The bumpy road cryptos face under scrutiny from regulators (we’re looking at you, Libra ) was a springboard into a larger discussion between Zac Cohen, general manager at Trulioo , and Karen Webster on the challenges FIs and others face when deploying new technologies. Toward an Interoperable ID System.

Innovation 182

Innovation Fraud Technology Security 182

PYMNTS

DECEMBER 29, 2020

Whether it’s simple online purchases or banking, or more complex areas like cryptocurrency or money laundering, Trevor Wingert , a senior know your customer (KYC) and anti-fraud solutions consultant for GeoGuard , told PYMNTS that rapidly changing use cases and technology highlight gaps in the current security approaches being used.

Fraud 270

Fraud Compliance cryptocurrency Security 270

PYMNTS

JULY 30, 2019

Those opportunities are particularly impactful in an era of banking where customer service and end-user experiences are often the defining factor of whether a customer is loyal or not. In small business banking, the friction points that threaten the user experience are quite similar in Latin America to the friction faced in the U.K.,

User Experience 122

User Experience America Analysis Industry 122

PYMNTS

DECEMBER 10, 2020

KYC regulations require companies to prevent money laundering and protect themselves from being linked to criminal enterprises by accurately verifying their customers? Video-based KYC is an effective digital technology used increasingly to confirm customers? Video verification is one way to ensure smooth experiences and build trust.

Video 201

Video Digital Banking User Experience Tools 201

PYMNTS

JUNE 29, 2017

Our market environment has become so much more complex because of the evolution of technology, regulation and data security. The quickly growing segment of players entering the ecosystem as an ISO are those who have distribution and are driving sales and marketing through their technology.

Payments 143

Payments Retail Branding User Experience 143

Insights on Business

APRIL 28, 2017

Recently, new digital technologies – driven by cloud, mobile, social media and analytics – have significantly lowered entry barriers and put customers much more at the center of the banking relationship. At the same time, regulators in many countries also have relaxed regulations to encourage innovation in the banking industry.

Digital Banking 171

Digital Banking User Experience Branding social media 171

Insights on Business

MARCH 26, 2018

At IBM Think, the premier business and technology conference, the main theme is “mankind + machine,” and during the Wednesday morning session with Ian Hurst and Sarah Diamond, IBM General Managers of Banking and Financial Markets, and Naresh Vyas, Royal Bank of Scotland Head of Solutions, that theme was on full display. Lastly, Ms.

User Experience 135

User Experience Compliance Maine Regulation 135

PYMNTS

NOVEMBER 13, 2018

As the world — and the world of payment and commerce — ready themselves for the deployment of 5G mobile technology, the healthcare industry is anticipating the likely changes, some of which will involve wearables and billing. Nonetheless, it’s a clear statement that when friction is removed from the user experience, people respond.”.

Payments 158

Payments Mobile Technology User Experience 158

PYMNTS

JANUARY 22, 2020

For others, like NatWest and Sabre , that means collaborating on corporate card products that augment the end-user experience. Below, PYMNTS examines the latest in commercial card innovation, regulation and disruption. Visa, Sabre Pair For Virtual Travel Cards. NatWest Bolsters SMB Loans With Cards. .

Cards 131

Cards New York Lending Strategy 131

Accenture

JANUARY 26, 2017

” Having taken great pride in their well-manicured and protected payments systems, many bankers are now receiving similar advice when it comes to government regulations intended to prise open the value chain to make payments more competitive. ” In due course a droll reply arrived, “We suggest you learn to love them.”

Payments 150

Payments Innovation User Experience System 150

Accenture

JANUARY 26, 2017

” Having taken great pride in their well-manicured and protected payments systems, many bankers are now receiving similar advice when it comes to government regulations intended to prise open the value chain to make payments more competitive. ” In due course a droll reply arrived, “We suggest you learn to love them.”

Payments 150

Payments Innovation User Experience System 150

Bobsguide

APRIL 13, 2022

Dubai, UAE – April 13, 2022 – Finastra today announced that Banque Misr, the second largest national bank in Egypt with international presence, has selected Fusion Trade Innovation and Fusion Corporate Channels to digitalize its trade finance services and provide a premium user experience.

Regional 113

Regional Innovation User Experience Software 113

PYMNTS

OCTOBER 18, 2017

The question applies to financial institutions of all sizes and is especially germane to smaller banks and credit unions, firms which do not have the deep pockets or the technology of larger banking compadres and FinTechs. Technology on its own has no standalone, distinctive value. What of regulation?

Innovation 140

Innovation Compliance Community Bank Strategy 140

Insights on Business

FEBRUARY 13, 2019

In today’s rapidly changing business environment, managing responsiveness and the proliferation of regulations and IT systems, as well as rapidly expanding volumes and data variety, has become a high stakes balancing act. How a reimagined user experience in IBM OpenPages with Watson 8.0

User Experience 79

User Experience Compliance Risk Management Training 79

PYMNTS

MARCH 1, 2018

legal system to be granted access — but no more, now that the keys are being stored in China. Now, it seems, due to a cybersecurity law that took effect last year, the Chinese legal system holds sway, and the government need only to go through the home system to get Apple to give access to those accounts. Because of that U.S.

Data 100

Data Apple User Experience Big Data 100

PYMNTS

JUNE 25, 2019

The ways banks approach these relationships and develop new products is rapidly changing as PSD2 solidifies its grip in the EU, according to Markos Zachariadis, associate professor of management and information systems at Warwick Business School. Open Banking and the Customer Service Shift.

Fintech 122

Fintech Customer Experience Data User Experience 122

PYMNTS

MARCH 16, 2018

Certainly regulations like PSD2 and the U.K.’s s Open Banking initiative encourage API development and adoption, with industry players acknowledging the technology’s ability to efficiently comply with data sharing rules. Remlinger, Project Manager — Solutions for Business at foreign exchange technology firm OANDA.

Risk Management 134

Risk Management Survey Management Fintech 134

PYMNTS

OCTOBER 23, 2017

Oh, and security, too – but not at the expense of that frictionless user experience. Linden unpacked the findings of a recent whitepaper by Paysafe, “ Lost In Transaction: Volume II ,” which showed what consumers really want from their eCommerce experience. What do consumers want?

UX 116

UX Security User Experience Millennials 116

Independent Banker

MAY 26, 2016

Examples of financial institution payment innovations include the development and introduction of Electronic Funds Transfer systems, such as ACH and wire transfers, credit and debit cards, ATMs, online access to services beyond the branch and online bill payment services.

Community Bank 70

Community Bank Community Innovation System 70

PYMNTS

MARCH 14, 2017

As banks and payments companies endeavor to meet anti-money laundering (AML) regulations to avoid hefty fines for non-compliance, easily identifying customers in the digital channel becomes paramount to their success. Cybercriminals are predictable in the sense that they also move toward the weakest or most vulnerable links in a system.

Meeting 111

Meeting Fraud Knowledge Base User Experience 111

PYMNTS

JANUARY 31, 2018

The disconnect is one where “the most prominent reason is that financial institutions, and banks in particular, have to be compliant with so many different regulations across AML (anti-money laundering) and KYC (Know Your Customer). And this has a significant impact to the user base as well, as more information is needed.”.

Online 153

Online Security Course Mobile 153

PYMNTS

JULY 24, 2019

In that mindset, banks, laden with entrenched legacy systems, with disparate platforms — call it big infrastructure! — and less than seamless online presence are at an inherent disadvantage when it comes to catering to the needs and desires of an ever-younger population used to technology. Call it the paycheck test.

Digital Banking 160

Digital Banking UX Online Innovation 160

PYMNTS

MAY 30, 2018

Ant Financial’s Executive Chairman and CEO, Eric Jing, has previously indicated the Chinese tech giant’s intention to open up its technologies to outside partners, and we are now seeing the fruit of his vision. That level of scale and efficiency is something of which many financial organizations can only dream.

Risk Management 100

Risk Management Fintech User Experience Management 100

PYMNTS

JANUARY 31, 2018

Slack has made a user experience that is easy … to integrate other products and services into their platform” with one-click integration sans specialist knowledge. The technology and legacy systems that are in place at those banks may no longer be sufficient. There’s a cost of inaction, to the tune of $1.2

Management 116

Management Data social media System 116

PYMNTS

OCTOBER 7, 2019

The questions are about how is this going to work, what are regulators going to do, how are consumers going to react to the emerging field of choices. Second, whatever one builds must easily and safely live in the payments infrastructure they’ve created that undergirds the system. Today, more than 90 percent of U.K.

Payments 167

Payments Innovation System Security 167

NCR

MAY 25, 2016

The disruption caused recently by the emergence of a wide range of new financial technology (Fintech) players has been a huge jolt for the banking sector, and reminded traditional players that they cannot afford to be complacent in the face of these competitors. The key theme behind many of these new developments is the notion of convenience.

Fintech 45

Fintech User Experience Innovation Strategy 45