PYMNTS-MonitorEdge-May-2024

FinTech

Financial technology, often shortened to fintech, is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance.

Velera and Kinective Team to Help Credit Unions Integrate Financial Software
Velera and Kinective Team to Help Credit Unions Integrate Financial Software
October 08, 2024  |  Credit Unions

Credit union service organization Velera has launched a partnership with banking software company Kinective. The collaboration gives Velera’s credit union clients access to Kinective’s Gateway, an integration technology...

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TerraPay and Fabrick Team to Further European Cross-Border Payments
TerraPay and Fabrick Team to Further European Cross-Border Payments
October 08, 2024  |  Partnerships

Italy-based open finance company Fabrick has launched a collaboration with money movement firm TerraPay. Initially focused on Fabrick’s home country, the partnership gives businesses access to a platform...

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Passkeys Replace Passwords as Banks Seek Better Authentication Options
Passkeys Replace Passwords as Banks Seek Better Authentication Options
October 07, 2024  |  Authentication

In the 21st-century financial services sector, security is paramount, and threats abound. As sophisticated cyber threats, from deepfakes to cloud vulnerabilities, spread from every corner...

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Big Banks Joust With Neobanks for Lower-Income Consumer Accounts
Big Banks Joust With Neobanks for Lower-Income Consumer Accounts
October 04, 2024  |  Banking

There’s a commonality in financial services — for brick-and-mortar players and for several FinTechs, though the approach may differ: Serving the needs of lower-income households....

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PayPal Pays EY With In-House Stablecoin to Show ‘Well-Suited’ Enterprise Capabilities
PayPal Pays EY With In-House Stablecoin to Show ‘Well-Suited’ Enterprise Capabilities
October 03, 2024  |  Cryptocurrency

PayPal has reportedly completed its first business payment with its in-house stablecoin. This was done to show how digital currencies could be used to improve upon...

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UK’s Revolut Accuses Meta of ‘Woefully Short’ Effort in Battling Fraud
UK’s Revolut Accuses Meta of ‘Woefully Short’ Effort in Battling Fraud
October 03, 2024  |  Security & Fraud

U.K. FinTech Revolut has reportedly criticized Meta’s approach to combating financial fraud. As CNBC reported Thursday (Oct. 3), Revolut argues that the Facebook owner should be the one to provide compensation...

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FDIC: High-Touch Beats High-Tech in Small Business Lending
FDIC: High-Touch Beats High-Tech in Small Business Lending
October 03, 2024  |  Loans

In small business lending — regardless of the size of the bank doing the lending itself — a high-touch approach and in-person visits to the...

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Thredd CEO: Unbundling of Banking Changes the Merchant Acquiring Game
Thredd CEO: Unbundling of Banking Changes the Merchant Acquiring Game
October 03, 2024  |  Payments Innovation

For decades, the “classic” four-party model dominated card payments — where the quartet was comprised of the cardholder, the merchant, the acquirer and an issuing...

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Venmo Prepares to Roll Out Scheduled and Repeat Payments Feature
Venmo Prepares to Roll Out Scheduled and Repeat Payments Feature
October 02, 2024  |  Payment Methods

Venmo is reportedly giving users an easier way to make repeat or scheduled payments. The new feature would let customers schedule payments — or requests —...

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