Looking Back at Money20/20 USA: Where Do We Go From Here?

Now that the dust has settled on another successful Money20/20 USA in Las Vegas, it allows for a moment of reflection on what some of the announcements and trends mean for the ever-changing financial industry. Discussions spanned a variety of topics, including the future of international and digital expansion of PSPs, how organizations developing cryptocurrency wallets plan to enter the payments space, and how challenger banks plan to revolutionize the banking experience. Inclusivity was a recurring theme throughout – and nowhere was this more evident than in the Rise Up program.

Women in Payments: Driving Diversity in the Payments Industry

As the Australia Women in Payments Symposium approaches, I took a moment to chat with ACI’s Felicity Blake, country manager, New Zealand, who will be participating (among other experts) in a panel on Rising to the Diversity Challenge.

Digital Overlay Services Unlock the Value of Real-Time Payments

The global payments industry continues to drive toward true real-time, with the potential opportunity for corporate banking often cited as the most lucrative.

Strong Customer Authentication in Australia: Reducing CNP Fraud and Streamlining eCommerce Payments

Minimizing fraud without harming the customer experience can be done – using the right tools

In 2017-18, card-not-present (CNP) fraud cost Australian eCommerce AUD $478 million and accounted for some 85 percent of all fraud on Australian-issued cards¹. In 2016, CNP fraud in Europe represented 70% of all card fraud². Seriously uncomfortable numbers.

2020 Fraud Predictions: What to Expect Across the Globe as Cybercrime Evolves

As we near the end of 2019, our payment experts have begun to take stock of the trends over the last year, and make their predictions for where they see the industry heading in 2020.

I sat down with our own fraud experts, Marc Trepanier, principal fraud consultant for North America, and Giselle Lindley, principal fraud consultant for APAC, to get their thoughts on what we can expect in the year ahead around payments fraud.

Real-Time Payments Hits its Stride in the U.S.

The recent announcement of FedNow in the U.S., the launch of cross-border services like SWIFT gpi, and multiple real-time payment systems including The Clearing House’s (TCH) RTP system and Zelle underline the fact that real-time payments are here to stay. The need to deliver real-time payment services to customers has never been more pressing for banks, credit unions, processors, acquirers and fintechs. However, the U.S. payments ecosystem – and its infrastructure – must keep pace with global markets to remain competitive, and interoperability between real-time payment systems will be key.

Strong Customer Authentication under PSD2: Consumer Education Will Be Crucial to Success

The European Banking Authority (EBA) has finally provided the promised update on SCA supervisory flexibility timelines – with a new hard deadline for migration completion of December 31, 2020. According to the new guidelines, migration plans of PSPs – including the implementation and testing by merchants – should be completed by that date, otherwise all players could face serious penalties for non-compliance.

Deep Dive: Latin American Fintech Market (Part 2)

To support fintechs’ development and create a more inclusive financial system, governments across the Latin American region should adopt different regulations. Some good practices implemented in other countries, like the U.K. or Singapore, could also be adopted in Latin America, such as temporary exemptions on fintech authorizations on behalf of regulating entities, or the creation of temporary regulation sandboxes in which fintechs can operate, evaluate their business models and offer their innovative products in supervised environments.

Women in Payments: “Make Failure Your Fuel”

ACI’s Darcy Locke, new business development principal, was recently appointed Chair of the American Financial Services Association (AFSA), Business Partner Board. During her two-year term, Darcy will preside over the AFSA Business Partner Board meetings, and concurrently serve as a member of the AFSA Board of Directors and Chair of the AFSA Business Partner Task Force.

Deep Dive: Latin American Fintech Market (Part 1)

There is a gap between what financial institutions currently offer versus what today´s customers want in Latin America, and this is where fintechs are earning a reputation for customer-centricity, personalization, quick response and seamless delivery. The relationship between fintechs and traditional financial institutions in Latin America has evolved from competition to collaboration, with the aim of efficiently working together and effectively scaling innovation, while also driving financial inclusion for the underbanked.