Banking,
Partner
- 90% of North American banks consider technology to be the biggest trend impacting their industry.
- But modernization is easier said than done. Payments is a good place for banks to start.
Nelly Rezny, Temenos | November 30, 2023
Payments
- As of 2021, around 6 million Americans were unbanked and this problem disproportionately affects Black and Hispanic households, of which 10% have no checking or savings account.
- Government-to-Person (G2P) payments may be a way to bring unbanked communities into the fold in a way that counters lack of trust and incentivizes participation.
Rabab Ahsan | November 30, 2023
Podcasts
- Consumers struggle with one-time payments, frequently forgetting to pay their bills on time.
- Banks, billers, and payers can find success when simple texts are used as reminders and onboarding to payment flows.
Zachary Miller | November 29, 2023
Keeping the bad guys out,
Partner
- Bad actors are continuing to improve their technology and tactics to commit financial fraud.
- FIs can use Know Your Business (KYB) compliance as a competitive advantage if they're willing to invest in business verification data.
Enigma | November 29, 2023
Banking,
Keeping the bad guys out
- An integral part of a bank's KYC and AML work is focused on ensuring that Politically Exposed Persons (PEPs) cannot abuse the bank’s services for their own gain. Things slip through, though.
- But oversight overeagerness on the part of FIs can create issues for those associated to PEPs as well as prevent the FI from focusing on genuine detection.
Rabab Ahsan | November 28, 2023
