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Visa upgrades Verified by Visa technology simplifying e-commerce
Visa announced enhancements to its Verified by Visa service, designed to make online purchases more secure by helping ensure payments are made by the rightful owner of the Visa account. The upgrade will deliver rich data to financial institutions and merchants to better authenticate consumers and reduce fraud on transactions made via a mobile or [...]
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Fight over EBA’s recommendation on Screen Scraping hots up as banks up the ante
Just days after a coalition of 56 FinTech vendors lobbied the European Banking Authority in a strongly worded petition regarding the practice of Screen Scraping, The European Banking Federation (EBF) is asking the European Commission (EC) for its help on a Screen Scraping ban due to concerns over the privacy of client data, cyber security and innovation. The [...]
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AI and machine learning is catching up with financial criminals
When transaction volume goes up, banks and other financial institutions have turned to machine learning and AI to help streamline services. In the UK alone, over 72,000 payments are made by consumers and businesses every minute and this will grow to 79,000 payments by 2025. If there are now more than 38 billion payments annually, and [...]
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PSD2 access to accounts: A huge hidden revenue opportunity for banks
There is a widely-held belief in the banking industry that PSD2 access to accounts (XS2A) has to be provided for free. This is not true. Sure, Europe’s banks must grant customer-permitted Payment Initiation Service Providers (PISPs) and Account Information Service Providers (AISPs) access to their bank accounts and financial data, but crucially, PSD2 says nothing [...]
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Rabobank and Signicat launch Digital Identity Service Provider
Rabobank and Signicat are entering the Dutch identity market together by providing digital services to businesses, supporting them in servicing their clients. This joint Digital Identity Service Provider (DISP) offers a range of online login, identity, signature and archiving solutions under the banner of Rabo eBusiness. It provides optimal convenience for a range of businesses, [...]
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