A task force made up of hundreds of industry players brought together by the Federal Reserve has set out 10 recommendations to make payments in the US faster and more accessible by 2020.
For the first time, debit cards have overtaken cash to become the number one payment method in the UK, according to data collected by the British Retail Consortium (BRC).
British financial services firms expect to boost IT spending over the next year, with data analysis and process automation two particularly hot areas, according to the latest CBI/PwC survey.
Brits are increasingly relying on banking applications to manage their money, with nearly 40% of adults using apps in 2016 and transactions rising by 57% during the year.
Less than half of global asset managers and asset owners think that they are adapting technology quickly enough to support their business growth needs, according to a survey from State Street.
As the 4th EU AML Directive comes into force today, a pair of studies suggests that while most UK FS industry financial crime professionals think the new rules will make it easier to prevent money laundering, they are likely to cost banks millions in inefficient KYC checks.
Asia remains home to most payments innovation but Europe is making a charge, leapfrogging Africa, North America and Latin America, according to a survey of industry execs which also calls out distributed ledger technology as over-hyped.
More than 90% of senior financial crime professionals working in the UK banking industry are worried that their firms' legacy technology will become a barrier to fighting crooks over the next couple of years.