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News and resources on cyber and physical threats to banks and fintechs worldwide.

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Expert opinions

Guy Melamed

Guy Melamed CEO at Exberry

New Year’s Resolutions for Market Infrastructures in 2024

Traditional financial infrastructure providers are increasingly considering upgrading their trading systems to align with modern times. This is both based upon strategic developments taking place over the past couple of years (Microsoft investing £1.5bn in LSEG, Nasdaq collaborating with Amazon for cloud infrastructure, and Google injecting $1bn i...

/inclusion /markets Capital Market Technology

Anish Kapoor

Anish Kapoor CEO at AccessPay

Corporate Payments in 2024: APP fraud, ISO 20022-readiness and generative AI

The start of a new year is a natural time to consider what lies ahead. Here, we look at four key themes in corporate payments: Authorised Push Payment (APP) fraud, operational resilience, generative AI and ISO 20022, and consider what lies in store for 2024. Authorised Push Payment Fraud Combatting APP fraud will be high on the agenda for many orga...

/payments /predictions Finextra site news

Priya Kumari

Priya Kumari Digital Content Marketing Specialist at MSys Technologies

The Resilience of Credit Unions: Shaping the Future of Consumer Loans

Introduction While credit unions have experienced a slight slowdown in growth, they have proven to be more resistant to market fluctuations compared to banks. Despite facing challenges, credit unions have managed to maintain their share and even make gains in specific sectors. This article explores the recent trends in credit unions' consumer loan...

/payments /markets Banking

Raktim Singh

Raktim Singh Senior Product Leader at Infosys

Democratized AI

What is Democratized AI: The democratization of artificial intelligence entails universal access to AI. Put simply, open-source datasets and tools, which were created by prominent corporations , require minimal user expertise in artificial intelligence, allowing anyone to construct groundbreaking AI software. The underlying principle of 'Democrat...

/retail /inclusion Artificial Intelligence

Mantvydas Štareika

Mantvydas Štareika CEO at CapitalBox

Alternative sources of finance should support SMEs

Small and medium-sized enterprises, SMEs, make up 99% of all European companies and are the backbone of the EU economy, as they account for the vast majority of growth in the labor market. Despite that, SMEs are still seriously underfunded, in fact by as much as around €400 billion in the EU alone according to a recent study. The reason is that SM...

/retail /inclusion

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Research

Impact Study

8 Steps to Efficient Transaction Fraud Monitoring

In the wake of the widespread shift to digital banking and ecommerce, fraud teams have seen a sharp increase in card transaction fraud. Since 2014, card transaction fraud has increased by an average of 8.9% per year and exceeded $32 billion in losses in 2021 alone. In an increasingly complex threat environment, card transaction fraud has devastating consequences for banks and merchants alike.  Technologies like cloud, artificial intelligence (AI) and machine learning (ML) pave the way for innovative fraud solutions. Yet, in order to effectively deploy these tools, banks need to address their underlying risk strategies, technical infrastructure and the quality of their available data.  This Finextra impact study, produced in association with Brighterion, a Mastercard company, explores the eight steps for banks to reach transaction fraud monitoring excellence. Download today to learn more. 

172 downloads

Sentiment Paper

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

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 payments have enabled the establishment of hundreds of merchant businesses, particularly in developing markets, as well as the significant growth of global ecommerce.  This Finextra Research report, in association with Ingenico, explores: How banks and acquirers have adapted to the digital frontier; The importance of data-driven business services; Why the Point-of-Sale is the ultimate channel for digital success; What will be the key tenets of the payments ecosystem in the next five to ten years; And more. Download our sentiment paper today to discover more. 

643 downloads

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.  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 report, we study 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). Some of our key findings include:  There continue to be significant API performance differences between banks; There is a significant difference in total latency between the fastest and slowest banks; Cloud choice makes a huge difference in performance; And more. Download our analysis of Open Banking API services today to learn more. 

617 downloads

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FinextraTV

Responding to regulations: AI solutions boosting operational resilience in 2024

In anticipation of upcoming banking regulations, such as the EU's 2025 deadline, Sumant Kumar, CTO, Banking and Financial Markets, NTT DATA UK&I, provides insights into the impact of artificial intelligence on operational resilience for the year ahead. As a part of our Predict 2024 series, we explore how banks can deploy predictive AI to enhance operational efficiency, alongside the modernisation of infrastructure through converting legacy code with generative AI. We discuss how banks can employ supply chain risk management with the support of operations, improving both customer experience and security in the year to come.

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Long reads

Simon West

Simon West Director of Customer Engagement at Resilience

How to fortify your business against cybersecurity attacks in 2024

As we anticipate the cybersecurity challenges of 2024, it's important to reflect on the shifts and priorities that have shaped the past year. Driven by evolving perspectives on the significance of cyber risk and government-led legislation, organisations have redefined strategies, emphasising the need to encourage communications between business fu...

Madhvi Mavadiya

Madhvi Mavadiya Head of Content at Finextra

How to avoid generative AI hallucinations

Generative AI has dominated headlines for some time now, especially recently with news of Sam Altman, the CEO of OpenAI and the developer of generative AI platform ChatGPT, being ousted and rehired within a week. But will generative AI be a technology that banks use long term? According to Karan Jain, CEO, NayaOne, it absolutely is. Jain highlight...

Madhvi Mavadiya

Madhvi Mavadiya Head of Content at Finextra

AI Safety Summit: What happened at Bletchley Park?

Leaders from across the world gathered in the land of concrete cows and roundabouts for the first ever global summit on artificial intelligence (AI) in early November 2023. Notable attendees such as X founder Elon Musk, UK Prime Minister Rishi Sunak and of course, will.i.am, were welcomed to Bletchley Park in Milton Keynes, Buckinghamshire, once t...