Explore the transformative journey of hyper automation in payments with a spotlight on how integrating new technologies within the context of a platform approach can streamline payment processes, reduce operational costs, and ultimately enhance customer satisfaction. 

The July launch of the FedNow® Service — and the fact that The Clearing House’s RTP® network has been operational for six years — underscores the need for banks to examine their legacy payments architecture, Form3 U.S. CEO Dave Scola told PYMNTS.

The UK is positioning itself as a world leader when it comes to tackling the scourge of authorised push payment (APP) fraud. Future victims of this type of crime will now be much more likely to get their money back with the UK’s Payment Systems Regulator (PSR) introducing new requirements for banks and payment services providers (PSPs) in an attempt to reduce rates of APP fraud.

Following our tremendous growth in recent years, we believe that it is now the right time for Form3 to open the next chapter of its journey with these changes. We look forward to what we'll continue to achieve together.

The European banking landscape is undergoing a significant transformation, with the recent publication of the initial views on the scope and requirements under PSD3 shaping the markets direction on improving and enhancing the payment ecosystem. Whilst PSD3 is drawing a lot of focus, with the introduction of the Fraud Pattern and Anomaly Detection (FPAD) functionality, which is being spearheaded by EBA CLEARING, looks to augment and enhance how Financial Institutions manage and mitigate the risk from payment fraud.

Following the announcement of Form3's strategic partnership with Visa, Michael Mueller, CEO of Form3 tells Karen Webster CEO of PYMNTS how the Visa partnership, AI and risk scoring help stop push payment fraud ‘in its tracks’.

The Payments Systems Regulator (PSR) have published a new consultation (CP23/10) on the 28th September regarding Authorised Push Payment (APP) fraud reimbursement requirement. The consultation can be accessed on the PSR website, with the main change being the delay in implementing the requirements from April to October 2024.

How does a platform-centric payment approach provide a robust foundation for modernisation in light of the complexities and demands of the modern payments landscape.