The COVID-19 pandemic has had a profound impact on all areas of society. The virulent nature of the disease has led to many changes in our daily lives and the payments industry has not been immune to the need for transformation.
Financial technology (fintech) has been visibly evolving in front of our eyes ever since banks went online. With an increasingly cashless society, apps and platforms have been created to help us better understand and manage our finances, while new banks have been created that offer us a slicker experience.
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Have you ever wondered what makes a bank a 21st century bank? A small hint; it isn’t the ginormous rigid and extremely expensive mainframes, it isn’t the systems that have to shut down every night for maintenance, and it definitely isn’t the glued-by-hope hollowed out cores.
The list can go on and on. What a good 21st century bank needs is security, scalability, flexibility, availability, and adaptability. So, where do you get it all, nicely packed and with a bow on top at a low cost?
At Cybertonica we Trust in Transaction. We make systems to make trust and frictionless commerce safe and secure for businesses and consumers. We know that outdated rules and operations occasionally introduce almost Kafka-like situations and thought it would help us to see the end customer and merchant point of view.
So we decided to collect stories from the people in our network and customers as well as their clients telling us how their e-commerce is going in this period – both the nightmares and the nice surprises.
We asked them to tell us about their online shopping experiences during the lockdown to paint a vivid picture for the merchants. From surprise champagne deliveries to account takeovers, we have some good stories lined up for you!
It is expected that the volume of #InternationalPayments will grow in the upcoming years. However, those #FinancialInstitutions that do not adapt to the changes in the current landscape may miss this opportunity against the big players. How to be prepared? Our Karen Penney, VP of Payment Products, shares her views.
With the financial pressures from COVID-19 still unclear for many, new research commissioned by payments provider, PayPoint, throws the spotlight on small adjustments landlords and lettings agencies could make to help tenants manage their finances during this uncertainty and beyond.
For Good Causes clients are taking the fight back to COVID-19, with an alternative approach to celebrating Christmas 2020.
Steve Wilks describes a campaign that means companies can feel good about Christmas, and feel good about helping others feel better about it too.
Michal Smida, the founder and CEO of Twisto was a guest on our podcast series Inside the Vacuum and had an exciting conversation with Marcel Klimo around building the next generation of financial services.
Sometimes a fintech company needs to build a new critical feature under time pressure, which can become a very stressful moment for the CTO and Head of Delivery. Thanks to their current development velocity and estimation of the work, they know there is no physical way to build that feature with the capacity they have available. Maybe if they push their developers to the brink of exhaustion, they might be able to do this. This shouldn’t be the way to achieve goals, but rather only to deal with emergencies.
Future-proof your bank with cloud-native tech
How Thought Machine is helping established banks to transform their core platforms
Why deploying your bank to the cloud is very different from using a cloud-native core banking engine
Explore the digital payment market and trending super apps in Southeast Asia with Brano Vargic from Home Credit Vietnam
Financial technology (fintech) has been visibly evolving in front of our eyes ever since banks went online. With an increasingly cashless society, apps and platforms have been created to help us better understand and manage our finances, while new banks have been created that offer us a slicker experience.
How an Australian fintech love brand was born
Payment security taken to a new level
A peek into Indian fintech market and effective solution for accepting payments.
This is the time that will define the thinkers, movers, and shakers who will shape the rest of this century.
Is the European Union going to be the first major global economy to embrace the digital economy advancements, all the benefits it brings forward, and all the digital banking solutions that are coming along the evolution of tech services? What will the EU Single Digital Market bring up on the business horizon?
The transition to an almost purely digital economy is speeding up with every passing year and that is in part due to the leaps and advances in technology that are changing the way we live and conduct business.
Jem Shaw from our Patron, Choice International, attended the recent meeting on cross-border payments and international remittances at the Bank of England on behalf of the Payments Association. Download here
A look at the use cases driving investment in open banking.
As the virus closed everything down, my workload increased by 10-fold and I started to feel like a 1950’s housewife with a career on top! The volume of work sky
As more companies move their core operations online, the questions of data privacy and data security and how to handle them from an institutional standpoint as well become even more critical for successful business growth.
Across the world, traditional banking is transforming into something else entirely and the full outline and scope of the future of the industry, while not yet fully understood, already presents some amazing opportunities for firms looking for an edge, business innovation and revenue growth.
Agile businesses adapt to the times, providing the market with needed services as they arise as well as new opportunities. This second aspect, helping clients realize new opportunities, is increasingly displacing the traditional model of banking facilitated capital allocation.
Few people have questioned whether e-commerce was the way of the future when it came to retail and shopping, but even fewer have asked what this brave new world will look like.
After all, as everyone moves online, other factors will play critical and distinguishing roles in determining who the winners and losers are from the e-commerce online future.
Grab your morning coffee and join us as we reveal insight from our flagship research of 2020. You’ll be joined by peers in the payments community as we uncover the latest opportunities and use-cases in the industry.
Date 1st October 2020 Time 09:30 – 10:30
Book your place → https://landing.modulrfinance.com/cost-of-hidden-inefficiencies-epa
Netcetera is Mastercard’s exclusive 3-D Secure testing partner to help retailers and other businesses ensure they are ready to comply with PSD2. Mastercard and Netcetera, the market leader for 3DS and EMVCo associate, are supporting merchants to improve their transactions and conversion rates. This is the first time that merchants are able to run tests in their live online shops.
Strategic thinking for post-pandemic payments
Luc Gueriane, Moorwand CCO, discusses: If the move to cashlessness is hurting so many, who is responsible for making sure innovation doesn’t come at the cost of inclusion?
UK-based end-to-end accounts and payments solutions provider Contis has forged a partnership with global payments platform Currencycloud.
Through this partnership, Contis can now offer foreign exchange and international money transfer services to its clients and account holders.
– Banking in Latin America
– Effect of Covid-19 on Latin American banking
– Key risks of bancarization in Latin America
EML and Laybuy are working together on Buy Now Pay Later (BNPL).
– How does SIM swapping work?
– SIM swappers struck – what next?
– The role of the bank in stopping SIM swapping fraud
– Behavioral biometrics analysis overcomes the failings of two-factor authentication
– Profiling cybercriminals, one simjacker at a time
– How unauthorized fraudsters use compromised customer data and phishing techniques to attack online banking platforms
– Leverage behavioral biometrics and AI to make real-time decisions
– Assess the risk of entities holistically, not only relying on PII
This guide offers an insight into how the insurance method of safeguarding can provide payment service providers with economic benefits, help to alleviate some of the regulatory risks and allow
Relying on a single provider for essential banking services can be catastrophic for your fintech. So how can you ensure to keep the payment tap on and payments flowing in the times of crucial failure of your banking provider
Interview with the CEO of Accomplish Financial, Guy el Khoury Director General of the The Payments Association Tony Craddock speaks with Guy Raymond El Khoury, CEO of Accomplish Financial, a
Interview with the CEO of Accomplish Financial, Guy el Khoury Director General of the The Payments Association Tony Craddock speaks with Guy Raymond El Khoury, CEO of Accomplish Financial, a
Cashless payments were on the rise way before the pandemic. However, COVID-19 has forced consumers to abandon notes and coins in favour of mobile and contactless card payments. Recently, Nationwide revealed that, in a poll of 2,000 Brits, more than a quarter have gone two or more months without using cash. In addition, the usage of ATMs has seen an unprecedented drop of nearly 80% in some countries.
Although the pandemic may not be the final nail in the cash-coffin, the vast majority of payments are now digital – whether face-to-face or online. And while this is great for digital payment providers (and the taxman), merchants must now ensure their business models and payment methods are in line with consumers’ cashless expectations.
After uncovering a range of issues during recent visits to over 100 e-Money and payments institutions, the FCA published its latest ‘Dear CEO’ letter. The letter ended with a stern warning – “we will act swiftly and decisively if you fail to meet our expectations” – but what are some of the key areas raised and what do they mean for EMIs and PIs?
The coronavirus pandemic – which has hit the big metaphorical ‘pause’ button on the world – has seen routines upended, travelling coming to a grinding halt in order to curb the spread of the virus, and the world of work flipped on its head.
With governments around the world advising or mandating that people remain at home, commutes to the office have gone from a 90-minute balancing act on a crowded train amongst throngs of commuters, to a 10-minute shuffle from the bed to the kitchen table.
So how has GPS helped our staff navigate this strange “new normal” and what lessons might there be for the future?
Trust Payments has established a new UK operations hub in Harrogate, with the opening of a new office on Station Parade which will create 10-15 new jobs in Harrogate by the end of the year.
Payments Giant EML is Creating a Better Tomorrow Through its Commitment to Reducing the Use of Plastic Cards in the Communities it Serves Worldwide by 50%.
The COVID-19 pandemic and the expected economic downturn will definitely shape the global fintech landscape. The fintech scene in Hungary is still in its early days but it has been growing rapidly over the last few years. We hopped on a Zoom call with some of them to learn how they deal with the current situation and hear their thoughts and predictions about the upcoming trends, challenges, and potential opportunities.
COVID-19 continues to spread rapidly and the economic crisis escalates globally every day in the face of the pandemic. The humanitarian cost and stress on health systems and infrastructure induces fear and uncertainty, affecting lives and livelihoods on a daily basis. One area of great significance is the threat of illiquidity among partners and cashflow crises that damage or destroy once stable businesses. Cybertonica is building a new feature for Acquirers that predicts cash flow impacts and liquidity problems Merchants may face so that the payments operator can react appropriately, maybe vary conditions or seek to terminate a relationship if there is a risk of bankruptcy or fraud.
At Cybertonica, we believe that the success of our business depends on our diverse and multinational teams. We decided consciously focus on building both a more diverse management team and engineering group back in 2016.
Recently we’ve been lucky to be able to grow our team and bring nine new people aboard. Cybertonica now comprises 12 nationalities and more than 40% of our workforce are women. We’re pleased with the progress that we’ve made since the start of our business and want to thank all our partners and supporters!
In this blog post we tell our journey towards the gender parity in our organisation and compare it to the fintech industry average.
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