flwnet

Dishonest consumers are upping their fraud game as “friendly fraud” becomes the No. 1 problem in credit card disputes, but tech providers and merchants alike are upping their ability to fight through data and AI.  Friendly fraud and chargeback fees cost businesses more than $117 billion in 2023, according to a PayPal report. Friendly fraud,…

Frost Bank is investing in its AI, payments and customer onboarding experience to remain competitive and penetrate new markets.  In the second quarter, the $49 billion San Antonio-based bank upped its technology spend 8% year over year to $35.9 million, according to its July 25 earnings report. “We have plans to use AI … [and]…

Things we’re reading today include … One-third of customers would change bank after outage (consultancy.uk) UK’s Open Banking Success: 10 Million Users (pymnts.com) Challenging The Banks | Global Finance Magazine (gfmag.com) Revolut’s UK Banking License Is Vital – But Could It IPO in the US? (forbes.com) Japan’s Rakuten Slides Most Since May on Fintech Reorganization……

I just found an interesting blog by Plaid: 10 fintech trends for 2024 that define the industry’s future What are the 10 fintech trends? Trend #1: Consumers will use more fintech apps than ever Trend #2: Fintech increasingly provides financial stability during uncertain times Trend #3: Emerging payment technologies will become as normalized as the……

Fintech funding saw a rebound in the second quarter as global funding increased to $8.9 billion, up 11% year over year.  The U.S. saw the most fintech funding during the quarter at $4.8 billion across 324 deals, followed by Europe with $1.9 billion across 185 deals, according to data service provider CB Insights’ Q2 State…

Bank of Valletta Project Manager of Portfolio Delivery Agata Wolska will speak at Bank Automation Summit Europe 2024 on the state of AI regulation.  The summit takes place Oct. 7-8 at Hilton Frankfurt in Frankfurt, Germany, bringing together industry experts to discuss AI, regulation, automation and data.  View the full agenda for Bank Automation Summit…

Daniele Tonella was named ING’s chief technology officer July 29, succeeding interim CTO Marnix van Stiphout. His appointment is effective Aug. 5.  Tonella previously served at group chief information officer and chief executive of UniCredit Services and held roles at AXA Group, Evalueserve and Swiss Life, according to ING’s July 29 release.   More recently, he…

PayPal is investing in its platforms and capabilities to keep up with consumer demand for digital payments.  “Today, we operate in a massive, $6 trillion plus, global e-commerce market that benefits from the ongoing digitization of payments,” PayPal President and Chief Executive Alex Chriss said during today’s second-quarter earnings call. To keep up with the…