Recently, PYMNTS sat down with an array of experts and innovators in the artificial intelligence (AI) field to get their thoughts on how the technology will transform the payments and commerce sectors in the years ahead. Not surprisingly, a multitude of ideas and predictions were...
Europe’s new top bank regulator wants lenders to beef up plans for dealing emerging risks. “Many of the issues dominating today’s headlines were inconceivable a decade ago,” Claudia Buch said in her first speech as chair of the European Central Bank’s Supervisory Board Monday (Feb. 12), per a report...
Payment fraud incidents have been on the rise, increasing 88% since December 2021, PYMNTS Intelligence research reveals. For instance, 11% of consumers who paid for groceries experienced payment fraud in March 2023, compared to 5.7% in December 2021. Amid this surge in fraud incidents, consumer fears...
Fraud and financial crime remain challenging for financial institutions (FIs), even as fraud rates have remained high for many of them in 2023 relative to 2022 figures — a year in which 70% of FIs experienced increased fraud over 2021. At a time of the...
March 09, 2023
As instant payments become the norm, businesses can bolster safeguarding their hard-earned revenue. While legacy habits such as paper checks persist, small businesses are catching up with their larger competitors in modernizing their finance systems. Swapping traditional methods for efficient alternatives such as real-time payments is increasingly the norm, as 41% of all U.S. businesses use some […]
April 11, 2019
Three years after fraudsters made off with $101 million from a Bangladesh bank, cyber threats have evolved, according to a new report by SWIFT. The bad guys wait quietly for...
May 17, 2018
The SME segment in India has been a consistent bright spot and engine for growth over the last several years. According to government numbers, the micro, small and medium enterprises...
May 17, 2018
It used to be about the bars and bulletproof screens that separated tellers from banking customers and set a tone of security and trust. But that’s changing in the digital...
September 02, 2024
The Centre for Finance, Innovation and Technology (CFIT) has formed an anti-financial crime group. The U.K.-based group announced the effort Monday (Sept. 2), noting it had recruited several tech and finance giants to its cause, including Amazon Web Services, Mastercard, Lloyds Bank, Revolut and Santander. Also joining the group are regulators such as the Financial […]
February 12, 2024
Europe’s new top bank regulator wants lenders to beef up plans for dealing emerging risks. “Many of the issues dominating today’s headlines were inconceivable a decade ago,” Claudia Buch said in her...
November 16, 2023
Wells Fargo is reportedly grappling with regulatory obligations to enhance its monitoring of financial crime. Regulators have issued formal orders to Wells Fargo, instructing the bank to bolster its ability to...
July 17, 2023
National Australia Bank is blocking some cryptocurrency payments amid a nationwide wave of crypto scams. The bank (NAB) on Monday (July 17) announced it was introducing new customer protections by prohibiting some payments...
