The banking landscape is undergoing a profound transformation as customer expectations continue to evolve in the digital age. The rise of fintechs, digital services, and technological innovation has raised the bar for what customers expect from their financial institutions.

Fedwire, a cornerstone of the U.S. financial infrastructure, faces a crucial transformation with the mandated shift to ISO 20022 by March 10, 2025. This change is essential for maintaining global competitiveness and operational efficiency. While some banks are prepared, many underestimate the scale of the task ahead. To continue offering wire services post-2025, banks must adopt compliant solutions now. Download our latest whitepaper and find out how you can start your journey without delay.

In a thriving payments landscape, smaller financial institutions play a vital role. However, new PSR regulations could unintentionally put these institutions at risk, especially concerning APP fraud losses.  

Managing fraud risk is increasingly challenging due to evolving fraudster techniques. Authorised Push Payment (APP) fraud is one of the areas seeing the most increase in recent times. This latest report in collaboration with Feedzai looks at how the new upcoming PSR rule changes will require banks to rethink their approach to fraud solutions and the technologies they adopt. With traditional systems unable to deal with the agile nature of fraud in today's payments space new approaches such as 'Collaborative Intelligence' and 'Inbound transaction screening' will be seen as key to further improve fraud prevention for financial institutions.

The new Verification of Payee (VOP) regulations by the European Banking Authority (EBA) aims to revolutionise fraud prevention and payment security across Europe. Inspired by the UK’s successful Confirmation of Payee (COP), it requires PSPs to verify payee details in real-time. Despite facing industry scepticism due to implementation complexities and costs, the long-term benefits promise enhanced security and consumer trust.  

The UK Finance Annual Fraud Report 2024 highlights both progress and ongoing challenges in combatting fraud. While efforts in customer education and bank fraud prevention have shown positive results, the rise in certain scam types underscores the need for innovative solutions like collaborative intelligence and inbound payment screening to further protect customers.

Payment modernisation has become a very important topic for banks over the last few years. For a long time, payment infrastructures in the UK, Europe and the US wasn’t a priority for investment. As long as the infrastructure was able to keep things ticking over, there seemed to be little reason to upgrade it.  

Explore how PSD3 will transform the fintech landscape in Europe. Learn about its impacts, strategic preparations necessary, and the opportunities it presents for fintech companies.