In the early days of financial technology (fintech), there was a somewhat distant relationship between fintech startups and traditional banks. Some spoke of how fintechs were going to “disintermediate” banks. Microsoft Industry Blogs
Banks face some big challenges in the year ahead, according to American Banker, which listed ways technology will change banking in 2019. Some of the steps look pretty basic, which may reflect on the problems with legacy systems, and suggests some of the advantages new banks could enjoy with new technology. Read the full story in The Financial Revolutionist.
Next-generation payments software technology provider Episode Six today announced Dai Nippon Printing Co., Ltd. (DNP), one of the world’s largest comprehensive printing companies, will license its software for use in a new and innovative Japan-based payments program. With this partnership, advanced ledger and transaction management capabilities offered through Episode Six are being introduced to the broader Asian market, spearheaded by DNP’s adoption.*BanklessTimes
What’s the holdup on utilizing technology to expedite B2B payments? The short answer is: Change is hard. But, thankfully, due to global regulatory initiatives we can expect financial institutions to adopt new B2B tech sooner rather than later. PaymentsSource
As the European Union launches its open banking initiatives, EU citizens are already becoming accustomed to further transparency on part of their banks. Agencies in the U.S., however, have yet to adopt such regulations, which is why open banking in the country will be driven by consumer preference. Read the full story in Bank Innovation
The EU Revised Payment Services Directive, or PSD2, came into effect January 2018. While this expansive regulation includes numerous updates, the requirement for financial institutions to participate in an open banking system is arguably the most disruptive. PaymentsJournal
In 2018, China, Japan and South Korea are poised to lead the charge for exciting innovations in fintech . As the year unfolds, here are three trends coming out of Asia to keep an eye on. Read the full story in PaymentsSource.
Based on the results so far, Episode Six‘s next-generation software for companies issuing payment products is a hit, CEO John Mitchell said. Featuring future-proof technology, Episode Six allows banks, financial providers, and retailers to build highly customizable payments platforms that let them decide exactly what eWallet, loyalty and reward programs, and other payment options to offer their customers. Read the full story in *BanklessTimes.
Preparing for an imminent future when the average customer rarely visits a branch, some banks are diverting additional resources into development of mobile-only services that do a lot more. Read the full story in American Banker.
A report released last year by EY and major Singaporean bank DBS declared China the “undoubted centre of global fintech innovation and adoption”. And China isn’t the only Asian country making waves in the fintech sphere. Read the full story in Banking Technology.
Over the last decade, payment acquirers have made leaps and bounds in FinTech innovation — for instance, major players like PayPal, Intuit, Stripe, and Square have completely reinvented the acceptance process. Meanwhile, payment issuers and retailers are mired in legacy systems that are preventing many transactions from becoming the seamless experience they should be in 2017. Read more in Payments Cards & Mobile.
In September 2014, Apple announced its mobile payment offering, Apple Pay. Much like the iPod, iPhone and iPad, this latest Apple innovation met a need that consumers weren’t even aware they had: to be able to pay for products without fishing for cash or credit cards. In other words, to utilize a phone as a mobile wallet. Read the full story in PaymentsSource.