Adyen gets UK banking license after temporary approval
Adyen NV has won approval for a UK banking license, replacing its temporary post-Brexit permission to offer embedded finance and other payments services. The Dutch company said the Financial Conduct...
View ArticleBank of America launches B2C solution in Canada
Bank of America introduced its business-to-consumer payments solution in Canada as it continues to look for consistent digital solutions that clients can use across all its markets. Global Digital...
View Article4 ways tech expected to enhance cross-border payments
The cross-border payments industry is expected to hit $250 trillion by 2027, up from $150 trillion a decade before in 2017, as adoption grows and technology, including real-time payments, AI and new...
View ArticleTransactions: NatWest modernizes payments with Icon Payments Framework
NatWest has selected fintech Icon Payments Framework to modernize its payments capabilities. Icon Payments Framework (IPF) is a low-code, cloud-native platform that allows financial institutions to...
View ArticlePayments status updates comprise 80% of Citi queries
TORONTO — Eighty percent of queries across Citigroup’s 96-country network — which includes more than 200 million clients — are payment status queries. Pre-validation capabilities could bring that...
View ArticleFed looks to fintechs to drive FedNow adoption
The Federal Reserve is looking to fintechs to drive the adoption of FedNow across financial institutions. With FedNow aiming to reach ubiquity in the United States, “we don’t really want that to take...
View ArticleTransactions: Lloyds Bank taps Visa for virtual card solutions
Lloyds Bank has selected payments behemoth Visa to provide a virtual card offering to its business customers. Visa Commercial Pay will give Lloyds Bank’s business customers access to virtual cards...
View ArticleOn the job with … Citi TTS global head of instant payments director
Citigroup’s Treasury and Trade Solutions business is looking to hire someone to lead its global instant payments strategy amid the bank’s restructuring and efficiency efforts. The $2.2 trillion bank’s...
View ArticleInside look: American Express tech stack
American Express’ recent technology investments include product development and tech stack enhancements. In the second quarter of 2023, the financial institution increased expenses 23% year over year...
View ArticleUS Bank invests in digital payments in Q3
U.S. Bank invested in digital capabilities within its payments business during the third quarter of 2023 as it shifted toward a more tech-led revenue approach. Tech spend at the $668 billion bank was...
View ArticleDiscover invests in tech, advanced analytics in Q3
Discover Financial Services continues to invest in technology and advanced analytics within customer service, originations, risk and compliance, fraud detection and application processes. During the...
View ArticleAlliant Credit Union to enable RTP in 2024
Alliant Credit Union is investing in digital capabilities, including an effort to launch real-time payments next year. The Chicago-based credit union will join 351 banks and credit unions that are...
View ArticleTransactions: Mastercard teams up with JPMorgan for pay-by-bank
Payments behemoth Mastercard has joined forces with JPMorgan Chase to provide customers with a pay-by-bank option. Pay-by-bank can be used by billers for recurring payments like rent, utilities,...
View ArticlePodcast: Managing payments pressure
Payments fintechs are leaning on technology as consumers look to them to alleviate payments pressure in today’s high interest rate environment. “The payments space today is in a stress test,” payments...
View ArticlePayPal rival fintech Adyen faces investor confidence test
For years, Dutch payments fintech Adyen NV’s founders and management ran things their own way, thanks to some blowout growth. During its listing in 2018 they didn’t feel the need to pre-brief investors...
View ArticleFIS adds 74 banks to FedNow in Q3
Payments giant FIS saw dozens of bank customers looking to join FedNow as the adoption of real-time payments grew in the third quarter. “We are encouraged by the interest we are seeing related to the...
View ArticleNew CFPB proposal cracks down on payments providers
The Consumer Financial Protection Bureau proposed a new rule today that would subject large nonbank companies, including digital wallet providers and payments apps, to undergo the same supervisory exam...
View ArticleQ&A with Jeri Scheel on digital solutions at Fiserv
Technology service provider Fiserv continues to invest in its digital solutions including its digital wallet platform, CardHub, which allows real-time controls, transaction monitoring, digital wallet...
View ArticlePodcast: IBM studies embedded finance
Embedded finance is a key strategy for financial institutions as consumers demand the integration of financial products within organizations that provide nonfinancial services. In fact, 70% of...
View ArticleCiti prioritizes embedded digital payment strategy
As demand for embedded payment offerings continues to climb, Citigroup’s Citi Pay plans to keep up. Global revenue from embedded payments is expected to reach $59 billion by 2027, up from $32 billion...
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