Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Can Every Product Be Climate Positive?

Richard Peers, founder of Responsible Risk, interviews Erik Stadigh, Co-Founder and CEO of Lune, winner of the EBAday 2024 FinTech Zone award, ahead of Sustainable Finance.Live 2024. They explore how corporate sustainability can be simplified by automating carbon emissions reporting through APIs and hosted solutions. With the goal of making every product and service climate-positive by integrating granular emissions calculations and carbon projects into bank and fintech offerings, we ask: can businesses truly decarbonise efficiently without relying on costly consultants or new tools? As greener decisions are made with minimal effort, the future may see every company becoming a climate company through seamless integration of climate data.

07 October 2024

Finextra TV/payments

Generative AI's Impact and Opportunities in Banking

Join FinextraTV as Shanker Ramamurthy, Global Managing Partner Banking & Financial Markets at IBM Consulting, and John Duigenan, General Manager Global Financial Services at IBM, unveil new global financial services survey findings. Explore the current state of generative AI adoption, the challenges and opportunities it presents, and the most impactful use cases revolutionising the banking industry. Delve into discussions on Open Banking, industry standards such as DORA, and trustworthy AI, and discover how financial institutions are set to leverage generative AI in the coming year.

02 October 2024

Finextra TV/crime

Fighting Fraud with Form3: The Importance of Focusing on Customer Experience

In the final installment of this 3 Part series, FinextraTV and Nick Fleetwood, Head of Data Services, Form3, discusses how fraud prevention is all about customer experience. Consumers are accustomed to payments flowing in real-time and funds reaching their destination in seconds. However, when customer are notified about a potential fraudulent attempt, this in itself is a negative user experience. As a result, banks must ensure they are using insights to understand the level of trust - how trusted the sender is, how trusted the receiver is, and how trusted the relationship between them is - before sending a fraud alert. Further, suspicion can also be a valuable tool in any bank's toolkit: by analysing behavioural characteristics of the payment, coersion can be detected and aligned with how fraud has been recorded in the past, prioritising customer experience.

24 September 2024

Finextra TV/sustainable

How do you finance Natural Capital? Sustainable Finance.Live 2024 Aims to Provide Answers

In the lead-up to Sustainable Finance.Live 2024, Richard Peers, founder of Responsible Risk, discusses the event's focus on addressing how to finance Natural Capital. The event will tackle real-world sustainability challenges and drive innovation in the financial industry. Key issues include the sector's lack of understanding of Natural Capital, pricing, risks, and adapting to new regulations. By examining the "left-to-right flow of data"—utilising space data, AI, and large language models all the way to trading—the event aims to develop practical solutions. In addition a hackathon will be running, transforming ideas into impactful businesses.

18 September 2024

Finextra TV/crime

Fighting Fraud with Form3: The Importance of Inbound Transaction Screening

In Part 2 of this series, FinextraTV and Chris Oakley, Head of Fraud, Form3, highlights an upcoming substantial shift in the sector where due to incoming regulations from the PSR in the UK and PSD3 across the European Union, banks will have to double down on their focus on the risk associated with receiving a payment, not only sending a payment as has been the case historically. With current fraud screening methods built for outbound payments, after these regulations are mandated, receiving banks and sending banks will be forced to split liability for fraud and reimburse victims due to the PSR. This dichotomy must also lead to changes in the way that money mules are detected, which is usually also conducted retrospectively - where this convergence of fraud mitigation and anti-money laundering happens, risks need to be managed in real-time and a wider single view of the customer will be of paramount importance.

17 September 2024

Finextra TV/crime

Fighting Fraud with Form3: The Importance of Collaborative Intelligence

In Part 1 of this series, FinextraTV and Chris Oakley, Head of Fraud, Form3, points out why banks remain hesitant to share data, explores the misconceptions around regulations such as GDPR, and where levels of fraud would be if the standard was named GDSR, focusing on data sharing. While many financial institutions continue to be concerned about whether they are breaching rules and obligations, in certain situations, the fact that sharing data for fraud prevention can be useful and is a legitimate reason, is lost. To avoid this vicious circle, banks must take advantage of collaborative intelligence to mitigate rising financial crime cases such as APP fraud scams and share data where insights and intelligence can be exchanged between organisations in a secure environment, building a collaborative view.

10 September 2024

Finextra TV/markets

Communify Fincentric Unifies Financial Data with Acquisition from S&P Global

John Wise, Chairman and CEO of Communify Fincentric, explains the backstory to the company's acquisition of Markit on Demand from S&P Global. Aimed at fixing the financial industry's persistent challenge of fragmented data, this strategic move unifies client and market information in a single platform, integrating over 4,000 global data feeds to enhance AI-driven insights for portfolio managers, advisors and self-directed investors. By merging these data sets, the business intends to set a new standard for the broking, wealth and asset sectors, enabling institutions to navigate complex data landscapes and drive growth in a digital world.

15 August 2024

Finextra TV/payments

Why Traditional AI should be used alongside Generative AI for Fraud Prevention

At EBAday 2024, Marc Corbalan, Vice President, A2A Risk Solutions, Visa, explores fraud detection advances and strategies. Generative AI is truly revolutionary and outperforms traditional AI when it comes to analysing text, voice, and imagery, namely describing when transactions are risky. However, Generative AI struggles with numerical data that includes patterns, which is what fraud analysts using search for. This is why traditional AI must be used alongside Generative AI.

01 August 2024

Finextra TV/wholesale

Reimagining Your Core: How Banks Can Thrive Amidst Rapid Technological Change

Narendra Mistry, CPTO of Universal Banking at Finastra, emphasises that banks must adapt quickly to evolving technology and customer expectations. Success lies in implementing efficient core banking systems, that enable innovation at scale and at pace, while navigating AI and data with a focus on mindset and business services. Lean systems, like those of neo and digital-only banks, are good, but long-term growth requires a clear vision, a strong culture and breadth of capabilities. For established banks with pre-existing infrastructures, symbiosis – where next gen solutions are deployed alongside existing solutions – can offer a fast way to deliver outstanding experiences, stay ahead of competitors and, when appropriate, ease transitions.

24 July 2024

Finextra TV/wholesale

Adapting to change: How financial institutions can revolutionise core banking systems

Siobhan Byron, EVP of Universal Banking at Finastra, discusses how innovation is not just limited to the neo and startup banks, indeed established banks are combining the move-fast philosophies of the emerging players with their own considerable assets. The conversation highlights the need for financial institutions to have a clear vision and strategy, find the right pace and technology for transformation, avoid high-risk methods, outline the challenges of losing market share, talent, and the ability to meet future needs if institutions fail to stay current and innovative.

24 July 2024

Finextra TV/payments

2024 Payments Trends and Adding Value

At EBAday 2024, Michael Whitehead, Head of Sales - Europe, iGTB, and Tapan Agarwal, Head of Payments Solutions, iGTB, Intellect Design Arena, focus on the range of payments trends that are circulating within the industry and what is pushing innovation forward. The pair pay close attention to European regulations that are mandating instant payments, as well as the One-Leg Out Instant Credit Transfer and the G20's bid to ensure payments get faster, cheaper and more transparent. Further, they explore how banks can build on value-added services using technologies such as Generative AI, DLT and IoT, which will evidently lead to an explosion of payments.

23 July 2024

Finextra TV/payments

What changes lie ahead for the future of real-time payments

At EBAday 2024, Paul Francis Walvik-Joynt, Senior Vice President, Real Time Payments, Mastercard, shares an outline of what changes lie ahead for real-time payments and what the proliferation of real-time payments means for the adoption of instant payments. It is evident that trust needs to be maintained as the industry grows and introduces new networks, ensuring organisations are remaining resilient and fraud is combatted. Further, with the advent of new real-time payments systems, opportunities are opening up for domestic and global payments, and for technologies such as AI to be leveraged.

17 July 2024

Finextra TV/regulation

The Importance of ESG when Choosing a Technology Provider

Join FinextraTV at the Temenos Community Forum 2024 as Kalliopi Chioti, Chief ESG Officer, Temenos and Christian Sarafidis, Chief Executive, EMEA Financial Services, Microsoft, dive deep into how choosing the right provider and right partner is crucial for ESG. With increasing pressure coming to the fore from regulators, organisations have no choice but to consider their reputations. This journey cannot be completed alone, so partners are of paramount importance, in addition to technologies such as cloud and AI to drive sustainability efforts.

17 July 2024

Finextra TV/retail

Fintech in Asia: How are Digital Experiences Evolving?

Join FinextraTV at the Temenos Community Forum 2024 as Ramki Ramakrishnan, Managing Director, APAC, Temenos and Trinh Vinh Hien, CTO & CDO, PVcomBank provide an overview of how the APAC region is leading when it comes to efficient digital experiences and the innovations that have come to the fore since 2022. As more and more customers expect digital access to all services, scalable solutions are imperative for financial players in Asia, the Pacific and further afield. While the likes of Alipay and WeChat attempt to bridge the gap between the banked and unbanked, innovation must ensure it is fit for purpose for all.

10 July 2024

Finextra TV/payments

What to include on your Payments Blueprint for Success

At EBAday 2024, Sulabh Agarwal, Global Payments Lead, Accenture, discusses how banks are approaching payments transformation and why the traditional model may not work with the number of initiatives coming to the fore soon. With regulatory initiatives like SEPA Inst, ISO 20022 and a long list of others that include the EPI and digital Euro, financial institutions must remain focused and consolidate new products that are yet to be launched, ensure they are competing against newcomers and justifying the investments that they make. Traditionally, change has emerged incrementally, but now long-term thinking must be prioritised, instead of opening the hood and fixing issues here and there, and technology such as Generative AI must be considered.

08 July 2024

Finextra TV/ai

AI, the Mechanism for Anticipating Customer Needs

Join FinextraTV at the Temenos Community Forum 2024 as Arun Thallapelly, Global Head of BSG, Temenos and Tielman Walters, Chief Technology Officer, Barko survey how digital innovation is helping banks make key connections with customers. Considering the wealth, facets and magnitudes of data available to financial institutions, the discussion taps into how effectively leveraging this data could provide banks with a detailed picture of how a customer currently behaves and would behave in the future. Organisations now need to anticipate needs in a much more effective way and AI is the tool to utilise to achieve this. AI can help precisely understand what the next step of the user journey will be and in turn, products and usability can be enhanced.

05 July 2024

Finextra TV/ai

AI's Role in Shaping the Bank of the Future

At EBAday 2024, Lilia Christofi, EMEA Banking Leader, Microsoft, explores the potential risks associated with implementing AI in the financial services industry, but also the role that the technology can play in shaping the bank of the future. Financial institutions need to ensure that they are leading across AI adoption to mitigate any potential risks that may emerge.

03 July 2024

Finextra TV/payments

Customer Intimacy, Generative AI and Data Models

Join FinextraTV at the Temenos Community Forum 2024 as William Moroney, President International, Temenos and Izzidin AbuSalameh, Group COO, Capital Bank of Jordan, speak about the biggest challenges facing the banking industry today. Despite substantial progression over the last two decades, the pair explore how customer intimacy through digital interactions must be prioritised as the sector is moving towards reducing branches. With this mapping of digital customer journeys, the onset of AI and generative AI has meant that banks are increasingly being encouraged to allow machines to do the thinking internally. This drives a larger issue where legacy technology is unable to support the demands of high traffic digital solutions - the conversation reveals some potential options for banks.

01 July 2024

Finextra TV/payments

Building the bank of tomorrow

At EBAday 2024, Tsvetanka Nankova, Global Head of Sales, Institutional Cash & Trade Finance, Deutsche Bank, discusses what banks need to do to stay in the game and the key trends driving transaction banking innovation. A new wave of technology and digitalisation is emerging, and with this, and the way in which data and analytics is leveraged is also changing. The discussion explores the critical technology of the future, which includes AI, cloud and blockchain settlement, in addition to the regulations that are setting the guardrails for innovation.

28 June 2024

Finextra TV/retail

Retail banking: Key trends and next steps in digitalisation

Join FinextraTV at the Temenos Community Forum 2024 as Robert Wint, Senior Product Director, at Temenos, and Lorenzo Villa, Head of Touchpoints at Credem, discuss how to engage customers in the digital age of mobile banking. Focusing on open banking, the conversation highlights financial wellness and GenAI as key trends in the retail banking space, and delves into how digital channels are expanding and how banks should proceed with digital onboarding.

27 June 2024

Artificial intelligence