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Banking

Banks nowadays are in stiff competition for human resources with fintech. The financial technology sector often offers higher pay. Still, the prospects of many such start-ups are difficult to forecast – they are as likely to occupy a solid niche as they are to go bust. Stable companies in Latvia are only a handful. Primarily, fintech players active in Latvia are headquartered in foreign countries – the United Kingdom, to name one – despite maintaining offices in Riga and employing staff in Latvia

founded 24 Jan 2023

Julija Jevstignejeva

Banking infrastructure for fintech, e-com and busi

Magnetiq Bank

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Brad Strock SVP, Group Executive, Payments at FIS

Make debit cards add up for your bank

For consumers around the world, debit cards have long been a mainstay of the payments experience. But have you ever considered how this basic banking staple could help you drive growth? From novel concept to global conquest When debit cards debuted in the 1970s, the concept of paying directly from your bank account was nothing short of revolutionar...

18 January 2024 /payments /predictions

Nick Green Director at Purple Patch Broking Ltd

Data contract flexibility: Benefits and strategies

Data contract flexibility makes a significant difference in how financial institutions respond to market shifts and manage spend. Why? Because with the right flexibility, institutions can align their contractual commitments with their actual needs and market conditions, leading to improved efficiency, cost savings, and a stronger competitive edge....

18 January 2024 /retail /crime

Nick Green Director at Purple Patch Broking Ltd

Overcoming bureau lock-in and leveraging multiple data feeds

An emerging pain point many financial institutions grapple with is ‘bureau lock-in’ – over-reliance on a single credit reporting agency (CRA). This data dependency narrows perspectives to one view, restricting the firms to the costs and data quality of that one provider. Of course, this greatly impacts the comprehensiveness of credit risk assessme...

17 January 2024 /retail /crime

Santosh Radhakrishnan Chief Commercial Officer at XYB by Monese

No 2. The Evolution of Core Banking Technology – From Mainframes to Beyond Cloud

To understand why coreless banking is such a paradigm shift, we must travel back in time and track the evolution of banking channels, products and services. Let’s rewind 60 years to a world before core banking when the first computer was used to automate paper ledgers. In 1959, Barclays was the first bank to buy an electronic computer, an Emidec ...

17 January 2024 /payments /retail

Raktim Singh Senior Industry Principal at Infosys

Why 'Agile and Adaptive Banking' is the only survival mantra.

The banking industry is characterized by constant change, and adapting is crucial for capitalizing on opportunities and minimizing risks. The increasing demand for real-time information is causing a corresponding evolution and escalation in customer expectations and a transition from physical to virtual service delivery. Need for Agile and Adapti...

12 January 2024 /retail /wholesale

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...

11 January 2024 /payments /markets

Ken Wan Senior Solutions Architect at SAS

Harnessing the Power of Monetary Oversight to Tackle Sophisticated Financial Fraud

Thank you to technological advances, it is becoming increasingly convenient for consumers to carry out online transactions, such as online purchases and money transfers by clicking on a link or using a mobile phone number (authorised push payments). On the other hand, the increasing acceptance of online transactions makes it easier for fraudsters ...

11 January 2024 /regulation /crime

Raktim Singh Senior Industry Principal at Infosys

On Demand Pay

"On-demand pay" allows employees to request a portion of their compensation before the next pay period. This is especially beneficial for personnel who may encounter unanticipated financial obligations. The provision of "on-demand pay" grants personnel the flexibility to withdraw accrued wages at their preferred time. Along with...

10 January 2024 /payments /retail

Shiv Nanda Content Strategist at https://www.financialexpress.com/

AML in Banking: Why and How It’s Essential?

Organizations must use AML in the banking sector to avoid any illegal activities and secure essential data. It’s much needed in the digital landscape as imposters are also using advanced illegal means to combat the AML process. Securing users from terrorism and drug trafficking is essential in the digital age. Above mentioned conditions mandate ...

09 January 2024

Iain Swaine Director EMEA, Global Advisory at BioCatch

Most Surprising Fraud Scams and What to Expect in 2024

Fraudsters are fickle. What’s new is old in the world of cybercrime, with fraudsters often just repackaging up an old attack with a new bow. But it is for this very reason that it is so difficult to predict the next move they’ll make. Recently, we reached out to a team of industry experts and practitioners to get their perspective on one question...

08 January 2024 /payments /crime