News and resources on payments systems, innovations and initiatives worldwide.

[Impact Study] What should European Banks prioritise in their payments modernisation journeys?Finextra Promoted[Impact Study] What should European Banks prioritise in their payments modernisation journeys?

Join the Community

Learn, share and discuss the latest banking, payments and fintech innovations with the world’s largest fintech community.

Access unique research, content, and real-time alerts, services – free to registered members.

44,234 Members   20,368 Expert opinions

Join the community Sign in

239Reports  219Webinars

Find out more


Expert opinions

Chiara Gelmini

Chiara Gelmini Industry Principal Director - Customer Risk & DD at Pegasystems

Low-hanging fruits in transforming AFC and AML with GenAI and Integrated Case Management

The two challenges everyone experience and the two answers you have been looking for in financial crime management The financial industry is under constant scrutiny from regulatory bodies, pushing for rigorous compliance with Know Your Customer (KYC), Anti-Money Laundering (AML), and Anti-Financial Crime (AFC) regulations. As we all know, these reg...

/risk /crime Artificial Intelligence and Financial Services

Rebecca Trivella

Rebecca Trivella Director at 3radical

Zero-party data: The key to personalising financial services?

The days of generic, one-size-fits all financial service experiences are over. Today, customers expect – and demand – personalised financial services. Just think: How frustrating do customers find it when lenders view them as account number #72856, rather than Joe Bloggs with unique financial goals, circumstances, and interests? It leaves them fee...

Digital Banking Trends

Joris Lochy

Joris Lochy Product Management Consultant | Co-founder at Capilever

The Unseen Backbone of Banking: A Deep Dive into Matching and Reconciliation

Last year I celebrated two decades of immersion in IT, specifically within the Financial Services sector. During this period I have been a witness to remarkable transformations in banking and technology. The emergence of Fintech companies and their customer-centric approach, along with significant advancements in software engineering like Agile me...

/payments Data Management and Governance

Sameer Dubey

Sameer Dubey Chief Product Officer at Griffin Bank

A look at the current state of BaaS: Opportunities for innovative banking infrastructure

Banking as a Service (BaaS) has changed the way banking products are built and offered. Consumers want to be able to access financial products when and where they need them, and BaaS platforms enable companies to embed these products in their own apps and ecosystems without the complexity and cost of obtaining a banking licence. Baas providers a...

/devops /startups Banking

Patrick Bermingham

Patrick Bermingham CEO at Adflex

What trends will dominate the B2B payments world in 2024?

In with the old, as good as new The first use of a commercial card for a B2B payment was recorded by the travel industry in 1937. Yet nearly a century later, commercial cards are still not a widespread B2B payment method. Why? They are often hampered by security concerns, supplier acceptance, and incompatibility with existing financial systems. As...

/payments /predictions Trends in Financial Services



Sentiment Paper

Payments: The key to unlocking new ecosystems and why merchant services are on the up

Banks and Acquirers adapting to the digital frontier To say things have changed in payments, and, as a result, the merchants services space is to understate a dramatic and fast-moving digital and cultural evolution that has driven such change.  Digital transformation strategies now need to be framed around this rapidly paced market involving multiple payment methods, and hence, ever smarter payment devices, or Point of Sale (POS) machines. Cloud infrastructure is the order of the day to deliver on the breadth and scope of plans.  Integration is a key part of the overall picture as well as investment into infrastructure, real time payments and single API or single platform, and embedded services.  The SME (Small and Medium Enterprises) community- sometimes an arm of a bank’s retail division and sometimes housed within the corporate segment can be viewed in many ways as a microcosm of the changes happening at large in financial services in terms of digital disruption. Digital payments have enabled the establishment of hundreds of merchant businesses, particularly in developing markets, as well as the significant growth of global ecommerce.  Download this Finextra payments industry sentiment report, produced in association with Ingenico, to learn more. 


White Paper

UK Open Banking API Performance 2022-2023

The UK continues to be at the forefront of the global Open Banking revolution thanks to the proactive attitude of regulators.  These regulators helped create an Open Banking ecosystem that encourages and facilitates smaller banks and new entries, including fintechs and neobanks, to participate in the Open Banking market alongside the largest banks. As the most advanced Open Banking market in the world, the UK provides an example of best practices in the implementation of API-based Open Banking that other jurisdictions can use as a model. In this follow-up to our 2020-21 and 2021-22 reports, we studied the performance of the Open Banking APIs exposed by the large CMA9 UK banks, traditional High Street banks, credit card providers and building societies, and new entrant banks (neobanks). The endpoints were provided by the banks and measured using the APImetrics active API monitoring service, including our patented quality scoring system, CASC (Cloud API Service Consistency). The data in this report, produced by APImetrics, has been generated from real API calls made using the FAPI-compliant consent process with the support of their third-party provider (TPP) partner tomato pay. All calls were made between July 1, 2022 and June 30, 2023.


Impact Study

What should European Banks prioritise in their payments modernisation journeys?

Payments modernisation is no longer a luxury for financial institutions. Dramatic shifts in consumer appetite, complete overhauls of financial regulation and a need to prioritise resilience, all propelled forward due to the digitisation of the financial world, mean that banks have little choice but to rethink their systems to operate in this brave new world. European banks have a particularly challenging task ahead of them. Not only has the region paved the way with open banking and API enablement initiatives, but its progress toward real-time and cross-border payments makes modernisation of legacy systems ever more complex. The European Payments Council’s (EPC) SEPA rulebook changes for 2023 present an especially difficult hurdle for banks to manage in the coming 12 months, as banks of all sizes prepare themselves for the migration to the ISO 20022 standard. Payments-as-a-Service (PaaS) and its global adoption has evolved dramatically, and as activity in the PaaS space continues to surge it is important to consider what is driving uptake. A recent survey by Finextra and Volante found that 67% of FIs are looking for new payments modernisation products within the next 12 months. The survey also found that the greatest pain-point listed by 79% of the global banks surveyed, was the challenge of accessing real time payments and real time liquidity. The cost of maintaining and upgrading these systems is also very prohibitive, and 75% of respondents raised the issue of cost of payment-processing as a key driver. These factors are causing a fundamental shift with regard to payment modernisation demand in the marketplace, with the follow-on effect of greater PaaS adoption globally. While these are happening, banks have to worry about handling their existing legacy systems. Legacy infrastructures are inflexible and cannot handle the volumes that banks need to handle in today’s payment environment. McKinsey research shows that the average age of IT applications at universal banks is 14 years, significantly older than the average age of applications at digital banks which is just three years. These factors present the perfect storm for bank modernisation to take off. This Finextra report, produced in association with Volante Technologies, explores the current European banking landscape to consider how banks in the region are approaching their modernisation journeys with respect to industry trends and rule changes. It will also consider how European banks are progressing compared to other regions, and suggest four key factors which will assist them in designing and implementing their payments modernisation journey.




Shaping Lithuania's next-generation of digital public infrastructure

Karolis Zemaitis, Vice-Minister, Ministry of the Economy & Innovation, Republic of Lithuania, explores Lithuania's next-generation digital public infrastructure, focusing on scalability, inclusivity, and investment, while tackling security and privacy concerns. The discussion includes Web3 technologies and addresses the challenges of interoperability and the global ecosystem's paradox of balancing dependence and resilience. All within the context of fostering fair and open trade driven by technology, in preparation for Singapore Fintech Festival 2023.


Long reads

Marie Costers

Marie Costers VP Business Services at Ponto by Isabel Group

How open banking revolutionises corporate financing and streamlines credit risk management

Since open banking launched in 2018, demand for real-time payments and fee savings for merchants has been fuelling adoption. Especially over the last couple of years, adoption has started to rapidly pick up, with Europe boasting the largest open banking market globally. Open banking is rapidly reshaping the payments landscape, yet one area that re...

Madhvi Mavadiya

Madhvi Mavadiya Head of Content at Finextra

AI: Here's what every bank in the world is working on

Here is a comprehensive list of where each bank is at with their respective artificial intelligence strategy, providing the most recent AI developments across 50 of the largest banks in North America, Europe, and Asia, so bookmark it and use it as a reference tool. According to the annual Evident AI Index, JPMorgan Chase is the most mature when it...

Pat Patel

Pat Patel Executive Director at Elevandi

How to foster conversations at the intersection of policy, technology and finance

Today’s fragmented regulatory landscape inadequately serves the ambitious innovators aiming to revolutionise the finance and technology sectors. Although discussions about regulating Big Tech have been ongoing for years, little has been done to counterbalance the sector’s growing influence or to bolster emerging players that are striving to improv...