Weekly Wrap: Bank automation lags and payments fraud picks up


This week, in “The Buzz,” Bank Automation News explores why banks lag behind other industries when it comes to automation, and also discussed rising losses due to digital payments fraud. Fifty-eight percent of banks have widely deployed automation technologies, compared to 67% across other industries, according to a recent Accenture survey. Today the BAN team […]


Thought Machine Integrates with Wise


Cloud native core banking technology innovator Thought Machine has partnered with international payments company Wise (formerly Transferwise) in a deal that will enable banks, fintechs, and other financial institutions that are using ThoughtMachine’s core banking engine, Vault, to take advantage of the low-cost international fund transfer services provided by Wise.

“We have built a world-class financial technology partner ecosystem which our clients can tap into as they build a future-proof bank,” Thought Machine CEO Paul Taylor explained. “The firms we choose to partner with are those that have built meaningful, ultra-reliable products that ultimately improve the banking experience for customers. We look forward to working with Wise to bring its industry-leading payments solution to many more financial institutions, and customers, around the world.” 

To ensure cross-system interoperability, Thought Machine and Wise have built an integration layer that cuts down on the amount of development work needed to plug into Wise’s API by as much as 60%. The partnership is a response to the growing demand for faster, more affordable, and transparent multi-currency banking, and comes amid a broadening trend away from reliance on legacy core banking technology and traditional correspondent banking networks.

“Though the internet has transformed much of the economy, the global banking system has lagged behind and moving money internationally has remained slow, difficult, and expensive for most,” Wise Platform & Wise Business Managing Director Stuart Gregory said. “Our mission is to change this 一 a goal we share with Thought Machine. Our integration today makes it quicker and easier for financial institutions and banks to enable faster and cheaper payments for their customers and brings us one step closer to our mission of building money without borders.”

Wise is actually the second money transfer company that Thought Machine has teamed up with in the first half of 2021. In February, the company announced that it was working with TransferGo, who will use Thought Machine’s Vault to provide advanced platform capabilities that will enhance the customer experience. The company also recently forged partnerships with German software engineering company GFT to launch challenger bank BankLiteX, and with full-stack fintech solution provider Vacuumlabs, which leveraged ThoughtMachine’s Vault to power a virtual bank in Hong Kong. An alum of FinovateEurope, London-based Thought Machine has raised more than $148 million in funding.

A Finovate alum since 2013, Wise moves more than $6 billion every month, saving its 10 million customers $1.5 billion in hidden fees every year. Rebranding as Wise in February, the company unveiled its product roadmap earlier this month, highlighting new initiatives in customer experience, spending and cards, expansion, small business services, and security. The company offers a multi-currency account that enables individual users to take advantage of real exchange rates in more than 50 international currencies. Wise Business provides payment services including invoice payments, debit cards, P2P payments, and cash management to more than 400 businesses. The firm includes companies ranging from fellow Finovate alum Xero to challenger bank N26 among its customers.

Photo by Aphiwat Chuangchoem from Pexels


Commercial Bank of Dubai is the First Bank in the Region to Launch a Robo-Advisory Investment App


Commercial Bank of Dubai announced the launch of  “CBD Investr app”, becoming the first bank in the region to offer a robo-advisory investment solution. Developed in partnership with InvestSuite, a wealthtech company based in Belgium, this innovative investment app is powered by smart algorithms that actively manage investment portfolios to deliver optimal risk-adjusted performance.

CBD Investr offers customers convenient access to globally diversified and personalised portfolios of stocks, bonds and other asset classes using low-cost exchange-traded funds (ETFs). These portfolios are tailored based on customer’s specific goals, risk appetite and investment time horizon and are actively monitored and optimised based on changing market conditions to deliver the best possible performance over the long term.

Customers can start investing in a matter of minutes by simply downloading the CBD Investr app, registering using their Emirates ID and answering a few questions to assess their risk profile and create a personalised portfolio. Customers do not need a CBD bank account to fund their portfolios and can make a local transfer from any bank account in the UAE. The best part is that customers can start investing with just $500 and withdraw at any time, without any charges.

Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, said: “Digital technology is disrupting the financial industry and is a key strategic priority for CBD as part of its vision to be ‘default digital’. We believe the next wave of disruption will be in the investment industry and our goal is to provide state-of-the-art investment services to all individuals across the region. We are delighted to launch CBD Investr, an innovative app leveraging cutting-edge technologies to deliver a world-class investment solution which will help customers grow their wealth in a simpler, more transparent and affordable manner.”

Mark Zanelli, General Manager, Treasury, Asset Management & Global Markets at Commercial Bank of Dubai added “CBD Investr heralds the next generation of Investment Services and provides financial market access to a much wider range of investors. Investing for the future is something that is on everyone’s mind and with the low entry point of $500, this product enables individuals to start investing for their future much earlier in their careers.”

Bart Vanhaeren, CEO and co-founder of InvestSuite, commented: “When CBD, a recognised digital leader in the Middle East, selected us to work with them to launch cutting edge digital wealth solutions, we were more than thrilled. Our team was truly impressed by CBD’s holistic vision for wealth management, unparalleled speed and their technological capabilities. Our cooperation is proof of the new, emerging ecosystem, consisting of financial institutions, core banking providers, management consultants & fintechs, with each bringing their unique strength. We are convinced that the CBD Investr platform is a game-changer for their current and new customers.”

As part of the planned enhancements in the next few months, the app will include a virtual portfolio feature that will allow customers to create portfolios and monitor actual performance before investing money. In addition, the app will also introduce a self-investment solution for more experienced investors who want to buy and sell global stocks and ETFs.

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.


Bank of Canada Inaugural Member of International Central Bank Network for Indigenous Inclusion


Along with Indigenous partners, the Bank of Canada, Te Pūtea Matua (Reserve Bank of New Zealand) and the Reserve Bank of Australia have formed a voluntary network to foster ongoing dialogue and raise awareness of Indigenous economic and financial issues.

The Central Bank Network for Indigenous Inclusion, established January 1, 2021, aims to share knowledge and best practices, promote engagement with Indigenous Peoples, and foster greater understanding and education about Indigenous economic issues and histories.

The network will focus on:

  • Conducting research for and with Indigenous peoples on economic issues, including the development of best practices, such as using Indigenous data respectfully.
  • Building cultural awareness, recruitment practices and other aspects of corporate culture to foster Indigenous inclusion within member organisations.
  • Strengthening engagement practices with Indigenous groups and communities.
  • Supporting economic and financial education for and about Indigenous peoples.

In addition, the network will plan a recurring Central Bank Symposium on Indigenous Economics. The first symposium will be hosted by the Bank of Canada in late 2021.

In formative discussions, Indigenous partners drew on their oral histories and contemporary economic experience to guide discussion and confirmation of the network’s aims. This discussion sought the views of Indigenous partners including Te Rau Kupenga, representative of the Reserve Bank of New Zealand’s Te Ao Māori external advisory panel; and Manny Jules, Chief Commissioner, First Nations Tax Commission and Founder of the Tulo Centre of Indigenous Economics.

The Central Bank Network for Indigenous Inclusion will serve as a community of practice and will not aim to set or take policy positions. The founding members encourage other central banking entities around the world to join. The chair of the Network will rotate annually, with the Reserve Bank of New Zealand serving as chair in 2021.

“The Bank of Canada wants to better understand the Indigenous economy and the obstacles and opportunities that Canada’s Indigenous Peoples face,” Governor Tiff Macklem said. “Our membership in this network provides us with an invaluable opportunity to learn from each other, to forge stronger bonds with Indigenous communities and contribute to making our workplaces and policies more inclusive.”

Clarence (Manny) Jules, Chief Commissioner of the First Nations Tax Commission and Founder of the Tulo Centre of Indigenous Economics: “As Indigenous peoples, we have institutional and economic successes to share, as well as policy and legislative challenges we continue to face. But today, I see the potential for a better tomorrow. Your commitment to work with each other and with us on these issues gives me hope.”

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.


EU moves to ban ‘unacceptable’ uses of AI


As the European Union moves toward banning “unacceptable” uses of artificial intelligence (AI) systems, its proposed rules could slow the adoption of AI in banking and financial services. Proposed rules released by the EU last week put stringent controls on the use of AI systems for surveillance and “applications that manipulate human behavior,” laying down […]


Fortify Mobile Wallets with Trust Score™


Consumers are demanding faster and secure modes of payments against the backdrop of a transcendental digital wave. One such mode that’s particularly catching their fancy is mobile wallets. A wallet that sits comfortably on any mobile or wearable device is increasingly becoming a favorite in the pandemic-hit world, where contactless payments are the need of the hour. It’s quick, simple, and completely in control of consumers.

All one needs to do is install a mobile wallet app, store their card or payment information, and verify their identity via a security code or biometrics.

Mobile wallets do win in simplicity and convenience. But the question consumers often ask is, “How safe are mobile wallets?”

Popularity of Mobile Wallets

Millennials and Gen Z were touted to lead the change for faster and convenient modes of payments. But now, consumers across all age groups are making similar demands. Let’s face it—no one likes slow payments. They can be frustrating and overwhelming for both businesses and consumers.

Mobile wallets seem to perfectly fill this lack. According to a report released by Global Markets Inc., the mobile wallet market will reach $350 billion by 2026.

According to a recent ACI Worldwide (ACIW) report, usage of mobile wallets “rose to a high of 46% in 2020, up from 40.6% in 2019 and just 18.9% in 2018.” 

With the increase in smartphone users and the need for customers to go contactless, the mobile payment process must ensure a frictionless and secure end-to-end payments experience.

Fraudsters Targeting Mobile Wallets

Secure transactions and robust verification will play a key role in the success story of mobile wallets. Fraudsters, however, are seeing an opportunity to make a quick buck by exploiting the possible cracks in the system: cyberattacks, system failures, and human errors. 

While consumers and merchants are rapidly adopting mobile wallets, fraudulent activities are also rising. According to ACI Worldwide research, “Real-time payments fraud in 2020 include confidence tricks – 13.7%, identity theft – 11.6%, and digital wallet account hacks – 6.2%.”

Though mobile wallets encourage faster and convenient payment methods, they have unlocked potential fraud such as access to card information or account details—putting consumers and businesses at risk. 

Fraudsters have figured out ways to work around the systems and steal card information or bank details from users’ accounts. In some cases, fraudsters have easily skipped authentication checks and enrolled cards that don’t even match the user ID details.

The responsibility of ensuring foolproof authentication is pushed to banks. As a result, every institution has its own ways of onboarding a customer. For example, some ask cardholders to send a text with an SMS code, while others request for an e-mail and ask some identity-related questions. But this information can be easily accessed by a scammer through a basic search.

In short, processes like enrollments, sign-ins, and transactions are all susceptible to fraud. But the good news is that these processes can be checked with a strong authentication process that ensures the customer who Possesses and Owns the card is the one who is registering it.

Businesses that haven’t found the ‘right way’ to authenticate their customers will soon find themselves in a vulnerable spot. They will not only risk losing customers but also their reputation. Prove’s Trust Score™ helps businesses reduce fraud, minimize costs, and scale up.

Secure Your Mobile Wallet

Prove’s Possession, Reputation, and Ownership Model™ not only addresses concerns around the right possession but also assesses the real-time reputation of the phone (tenure and behavior) and the ownership of the phone line.

Prove’s Trust Score™, a unique real-time measure of phone number reputation, aims to trump fraudsters by leveraging identity verification and authentication purposes. Trust Score™ analyzes behavioral and Phone-Centric Identity™ signals from authoritative sources at the time of a potential transaction. It basically mitigates fraud, such as SIM swap fraud and other account takeover schemes. In addition to securing mobile payments, Trust Score™ can be used in scenarios such as digital onboarding, digital servicing, and existing customer authentication. With Trust Score™, businesses can ensure latency of <1 second, thus creating a better customer payment experience that is not only fast but also secure.

The future of payments lies in frictionless, quick, and secure solutions. The digitization of payments is now a necessity and not an option. With agility and convenience becoming long-term asks, businesses can only rely on digital means to create a superior CX.

This article is a synopsis of a full-length article originally published by Prove.


Visa On How Collaboration Can Define the Future Success of UK Fintech


The UK fintech industry has grown rapidly over the past decade and as we reach an important crossroads, we need to consider how collaboration can drive the sector towards further success while continuing to drive value for customers by making their lives easier.

Someone with clear thoughts on this is Jill Docherty, Head of Business Development, UK & Ireland at Visa, the global payments technology company. With over 20 years of experience across emerging and developed markets within consumer packaged goods & financial services, here Jill explains how collaboration can define the future success of UK fintech. 

The recent Kalifa Review showed that the UK fintech sector is a success story, now representing 10% of the global market share and £11bn in revenue. The review also highlighted the value of continual innovation as the key to sustained growth. The ambitious new plans announced by the Treasury to launch a Centre for Finance, Innovation and Technology are a strong step in the right direction.

When identifying the path to success, it is important to remember that no single company holds all of the answers. It’s through shared ecosystems and open networks we can collaborate and forge partnerships to develop the most innovative and disruptive solutions that support the end-user.

It’s important to remember that fintech innovation is more than just growth – open networks are offering us the opportunity to tackle the toughest issues in society. As the pace of digital transformation accelerates, we must ensure that we’re not forgetting about those who aren’t as digitally connected. We recognise the part we play in enabling people to choose how they pay and are paid, however, inclusivity in the digital economy goes beyond payments. Collaborations with fintechs is about encouraging social inclusion, diversifying our collective workforce, enabling communities to interact with online services and improving financial education so people don’t feel excluded by a lack of knowledge.

90% of UK consumers surveyed feel they are uneducated in terms of personal finance, with most financial literacy issues forming from a young age. Visa is working together with fintechs to share knowledge and skills with younger generations so that children can build financial literacy from an early age. Through this, we’ve been able to teach children financial control, forming important saving habits from a young age that will help them later in life.

The acceleration of shifting consumer habits means we must stay ahead of the curve and continue to reach customers in new and digital ways. We’ve already witnessed major changes; in the UK, 80% of in-store payments are now contactless, with nearly half (49%) of shoppers surveyed now preferring to pay by contactless wherever possible. As this method of paying becomes further engrained in our everyday lives, the challenge becomes finding the next solution that will spark excitement.

One of the key developments of the past few years is real-time payments. It’s no longer accepted that that paying or getting paid could take days, in a world where customers are used to instant experiences, they also expect to send and receive money faster. Through Visa Direct, our solution for enabling real-time peer-to-peer payments, customers around the world can send money to instantly to friends, family and businesses. We expect this innovation to become the new norm in many cases, resulting in smoother payments for everyone.

Recent months have also seen the value of digital currencies soar and we expect customer interest in this to continue to grow over the coming years. Visa recently announced a new partnership to start settling transactions in USD coin and we think this marks a major milestone in our efforts to offer customers all around the world the opportunity to choose how to pay and be paid.

I’m confident that through collaboration we can focus our efforts on this cutting-edge payment technology, finding new ways to meet the needs of the next generation and ensure that UK fintech continues to lead this cause.

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.


Compliance Professionals Seek Stronger AML Guidance; LexisNexis Risk Solutions Study Reveals


An overwhelming majority of compliance professionals say the lack of guidance and support from regulators is contributing to a significant delay in implementing the latest anti-money laundering (AML) regulations, according to new research released today by the global data, and analytics provider LexisNexis Risk Solutions.

The study reveals that 91% of compliance professionals across the banking, lending, and wealth management sectors believe that better guidance would help their firms make AML programmes more effective.

Despite the Fifth Money Laundering Directive (5MLD) coming into force over a year ago in January 2020, financial services firms admit to being typically only 60% through their implementation programmes. By sector, banks were the furthest behind in their implementation plans (57% complete), followed by lenders (61%) and wealth management (62%). Any delay in compliance with 5MLD regulations puts firms at risk of severe penalties from the FCA, as well as increased risk of being exposed to the proceeds of crime.

The lack of urgency amongst firms comes despite 60% of those surveyed predicting that the regulator will begin to clamp down on non-compliance within the next 6 months. Of this, half (50%) think the clampdown will come in the next 3 to 5 months.

On the positive side, the research revealed clear support for 5MLD amongst firms, with almost two-thirds (63%) of firms agreeing that the Directive will have a positive impact when detecting and preventing financial crime in the UK. Banks were the least optimistic about its impact, with just over half agreeing (56%). Firms were on average expecting to spend between £500,000 to £1 million on their implementation projects.

These insights follow in-depth research conducted by LexisNexis Risk Solutions and Oxford Economics, in conjunction with the Cabinet Office which found that UK financial services firms are already spending a total of £28.7 billion on compliance processes annually – almost half of the UK’s defence budget – yet according to the NCA only around £1 billion is ever recovered. It also revealed that 70% of firms’ compliance budgets are spent on compliance staff and training. Yet, over 50% of compliance work typically relates to customer due diligence processes and a further 14% to investigations and information gathering, all of which can be easily and cost-effectively streamlined with technology solutions. Meanwhile, the same study revealed AML compliance cost inflation is expected to accelerate over the next three years, by nearly 10%.

Nina Kerkez, Director of UK&I Consulting, LexisNexis Risk SolutionsNina Kerkez, Director of UK&I Consulting, LexisNexis Risk Solutions
Nina Kerkez, Director of UK&I Consulting, LexisNexis Risk Solutions

Nina Kerkez, Director of UK&I Consulting at LexisNexis Risk Solutions, comments “These two pieces of research together paint a grim picture of the UK compliance landscape – one in which firms are spending considerable time, money and effort on an ineffective system that isn’t coming close to addressing the issues for which they’re intended. Regulated firms are united in being overwhelmed by increasing regulation and unanimous in their plea for more support.”

“Yet, despite the ticking time bomb of a regulatory clamp-down, firms appear to be ‘kicking the can down the road’ with short-term fixes – throwing budget at people-power, increasing the size of compliance teams, and investing in training to tackle the problem. Unfortunately, this doesn’t necessarily lead to greater efficiency and it avoids the wider issue of needing to re-configure their compliance approach in line with 5MLD requirements, hence the apparent lack of progress shown in the research.”

“What both studies clearly show is that firms need to take a step back and consider the longer term benefits of automating their customer due diligence and investigations processes – a step that significantly streamline almost two-thirds of their overall compliance workload, and in doing so free up the human skills and knowledge required to implement robust risk-based activities that will really make a difference.”

“This doesn’t need to be a choice between competitiveness and compliance. By committing to digitalising key components of their compliance processes, firms can drive down their annual compliance costs at the same time as streamlining customer onboarding and gaining a better understanding of the risk individuals pose, leading ultimately to better risk decisions, happier customers, and more financial crime prevention.”

“On a positive note, a majority of regulated firms support the aims of 5MLD and agree that it will have a positive impact on financial crime prevention. So, the ‘will’ is certainly there amongst firms, now they just need help with the ‘way’.”

  • Tyler is a Fintech Junior Journalist with specific interests in Online Banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.


This Week in Fintech ending 30 April 2021


This Week in Fintech ending 23 April 2021During this last week of April, our experts brought you the following insights based on their experience as investors, entrepreneurs & executives.

Monday Ilias Hatzis our Greece-based crypto entrepreneur (Founder & CEO at  Kryptonio a “keyless” non-custodial bitcoin and cryptocurrency wallet, that lets users manage bitcoin and crypto, without private keys or passwords and Weekly Columnist at Daily Fintech) @iliashatzis wrote Is Bitcoin energy money?

Two weeks after bitcoin was created, Satoshi Nakamoto wrote: “It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy. Once it gets bootstrapped, there are so many applications if you could effortlessly pay a few cents to a website as easily as dropping coins in a vending machine.” Twelve years later, this is still the best advice you can get. Today, there are only 100 million people using bitcoin. That’s only 1.3% of the world’s population and 2% of the banked population. The numbers are still extremely small when 98% still believe and use in fiat money. People invest their money in crypto, but they can wait to turn it back into dollars, when profit targets are met. As the cost of investing in bitcoin has skyrocketed, so has the potential profit from mining it and the debate about cryptocurrency and energy consumption. Bitcoin critics often assert that bitcoin mining consumes more resources, specifically energy, than the benefits it creates. Bitcoin and decentralization is undoubtedly the future of money, but many battlefields need to be won to grow awareness and drive usage.

Editor note: Required reading for anybody who believes that proof of work mining is bad for the planet.


Tuesday Bernard Lunn, CEO of Daily Fintech and author of The Blockchain Economy wrote:4-part series on Digital Identity. Part 4 = The investor says this is a big opportunity.

Digital identity is a big market, worth USD 13.7 billion in 2019, forecast to grow at a CAGR of 17.3% to USD 30.5 billion by 2024 (according to Markets and Markets™). To quote Markets and Markets:

The increased focus on enhanced customer experience is anticipated to be a major driver, and the trend is expected to continue for the digital identity solutions industry. Additionally, the need of multi-purpose single digital identity and technological advancements in terms of Artificial Intelligence (AI), Machine Learning (ML), and blockchain have bolstered the potential use cases across verticals.

Digital identity impacts every vertical market but most immediately two big ones – Finance/banking  & Healthcare.

Editor note:This is the final in our 4-part series on Digital Identity, looking at the market from the investor perspective.

Wednesday Alan Scott Managing Director EMEA at 24 Exchange @Alan_SmartMoney wrote his weekly roundup of Stablecoin news.

Guest Author Jack Wright wrote:Following the Greensill Capital scandal, when will investors learn to stop trusting Softbank?

When you begin to scratch the surface, the number of red flags on show in the lead up to Greensill Capital’s declaration of bankruptcy last month is quite bewildering. As if Greensill’s related-party laden client list, it’s list of government procurement deals under parliamentary inquiry, or it’s murky syndication of subprime debt weren’t enough, Softbank were an investor.

By now, the market should not only be questioning the wisdom of following an investor with seemingly unlimited cash benchmarked in Japan, a negative interest rate jurisdiction where economic returns have been throttled by consumer price deflation since the mid 1990’s. It should also ask whether Softbank’s Vision Fund – the vehicle used to inject billions into Greensill and other high-profile failures like WeWork – exists solely to enrich the fund’s investors, or if it serves a different  purpose for Softbank’s founder, Masayoshi Son.

Editor note: This post, on the connection between Greensill and SoftBank, is by guest author Jack Wright who brings his perspective working on the distribution of  JPMorgan Chase’s Asian equity capital markets and equity research product to hedge funds in New York. 



Rintu Patnaik, an Insurtech expert based in India, wrote: Advances in Location Intelligence propel Property and Parametric Insurance

In property insurance, precision in assessing risks is a prerequisite for pricing policies competitively and curtailing excessive claim pay-outs. With better location intelligence, carriers minimize risks, accelerate claim procedures, improve fraud detection and expand their customer base. Location intelligence (LI) has become crucial to enabling organizations in several industries to achieve strategic business goals, with the LI global market expected to grow to $32.8 billion by 2027. Underpinned by geographic information system (GIS), LI enables businesses to map, analyze and share locational data. In parametric insurance, it forms the core technology when environmental perils are trigger points.

Editor note: Read this to understand a huge market enabler, rich with multiple opportunities, driving a big part of Insurance.

Christian Dreyer @x3er, the Swiss based CFA who focusses on how XBRL changes our world wrote his weekly roundup of XBRL news.

Bernard Lunn, CEO of Daily Fintech wrote:Daily Fintech Announces 3 Licensees Serving the Educational Market

Content is being delivered to Newsbank, Cengage, EBSCO using our NewsML export software.

Daily Fintech recently signed contracts with three leading licensees which serve the educational market. These new relationships provide libraries, professors, students and other researchers access to the latest information and insights on the world of financial technology (Fintech).


Friday Howard Tolman, a well-known banker, technologist and entrepreneur in London, wrote: his weekly roundup of Alt Lending news.


To continue receiving ‘This Week in Fintech’, the weekly recap of our articles, you will need to fill this form to give us consent to send this to you. Please note that Daily Fintech requires your organizational email address (e.g. corporate, educational or government) and your LinkedIn URL. This information is required for subscribers who want ‘This Week in Fintech’ for free. If you prefer to not provide this information, you can still receive all our content by becoming a paying member.


UK BNPL Sector Ranks in Global Top Three Worth £10 Billion


Research by Butter, the UK’s only Buy Now Pay Later (BNPL) travel agency, has found that the UK BNPL sector ranks as one of the most valuable on the global stage, despite sitting mid-table where e-commerce market prominence is concerned.

Butter analysed the BNPL market across 20 leading nations looking at what percentage of market value is currently held by the BNPL space in each nation, as well as how they compare in terms of total value.

The research shows that across the UK, the BNPL sector currently accounts for just 5 per cent of the total value of the e-commerce market. This puts the UK mid-table in terms of BNPL prominence when compared to the other 20 nations analysed and some way behind the pack leaders.

Sweden tops the table in terms of overall BNPL prominence, with the sector accounting for a notable 23 per cent of the total value of the e-commerce market. Hardly surprising given it’s the home nation of industry giants Klarna.

Germany also ranks high with 19 per cent of the e-commerce market attributed to the BNPL sector, while in Norway (15 per cent), Finland (12 per cent), Australia (10 per cent), and New Zealand (10 per cent), BNPL also holds a double-digit value share within the e-commerce market.

The Netherlands (9 per cent), Denmark (8 per cent) and Belgium (8 per cent) also rank ahead of the UK in terms of the BNPL foothold in each nation.

However, the research by Butter shows that despite the smaller percentage of the market accounted for by BNPL in the UK e-commerce space, we’re one of the leading nations where the value of this foothold is concerned.

Despite only accounting for 5 per cent of the value of the UK’s e-commerce market, the BNPL sector in the UK is worth just short of £10billion according to the market analysis by Butter.

This places the UK third in the BNPL market value rankings, second to just Germany and the United States where the BNPL sector is worth £16.6billion and £15.8billion respectively.

It also places the UK ahead of Sweden (£6.4billion) despite the considerably larger presence of the BNPL sector within the Swedish e-commerce space.

Timothy Davis, Co-Founder and CEO of Butter, commented: “It’s interesting to see how the take up of the BNPL model differs around the world and this is due to a range of factors, with some adopting this method of transacting far quicker, while the sector itself has been established for longer in some countries compared to others.

“On the global stage, the UK still has a fair bit of work to do in terms of catching the frontrunners where BNPL prominence is concerned.

“However, it’s fair to say that BNPL as a concept is in its relative infancy here in the UK and so this smaller market share is to be expected. What is very reassuring is that despite only accounting for an estimated five per cent of e-commerce market value, the BNPL offering in the UK already ranks in the top three internationally in value terms.

“In the grand scheme of the UK e-commerce market this remains a pretty small proportion and so the BNPL sector still has huge growth potential to fulfill.

“In fact, the sector is forecast to increase in size by 175 per cent by 2024 alone and as more consumers adopt this method of transacting, we expect to see considerable ground made having already established a very strong foothold in a relatively short period of time.”

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.


New Report Finds Domestic Payments Organisations Increase Innovation During Covid-19


The Domestic Payments Schemes Jury has released its 2021 report titled: “To Survive or Thrive? Domestic Payments Innovation in the Pandemic”, revealing that while many domestic payment organisations had to make some adjustments to their innovation programmes due to the pandemic, 36 per cent reported that the pandemic had ultimately led to an increase in their innovation activities.

Undertaken in collaboration with World Bank and European Card Payments Association (ECPA) the Domestic Payments Schemes Jury is made up of 48 C-level executives from 40 countries representing a rich tapestry of national payment schemes and operators. The 2021 report, the sixth in a series spanning eight years, explores the impact of the Covid-19 pandemic on domestic payment organisations; from the rapid surge in usage and their responses to the acceleration in innovation and the evolution of the regulatory landscape.

“In the face of unprecedented digital evolution in the last year the ubiquitous role of the domestic payments organisation has significantly changed. As card schemes, telcos, social media platforms and fintechs vie for market share, domestic payments organisations have to strike a balance between standing on their own two feet commercially while bringing their diverse national payments communities together,” Chairman of the Jury, John Chaplin, commented.

“This year’s Domestic Payments Schemes Jury has concluded that the best strategic response for domestic payments organisations in the wake of the pandemic is a programme of systemic innovation that delivers value-added services beyond their traditional card payments, and at the same time demonstrably supports public policy goals.”

Key findings of the report include:

  • Nearly half (48 per cent) of the Jury reported declines of more than 25 per cent. 89 per cent reported significant or full recovery of transaction volumes, helped in large part by the development and roll-out of digital capabilities.
  • While 52 per cent of respondents had to make some adjustments to their innovation activities due to the pandemic, most reported that their programmes remained largely intact and 36 per cent reported that the pandemic had ultimately led to a further increase in their innovation activities.
  • Supporting mobile and app-based services remains the biggest innovation priority for domestic payment systems (90 per cent) with real-time account to account payments, enhancements to card services – such as QR codes – and digital identity all equally popular among the Jury (70 per cent).
  • Domestic payments organisations were well positioned to facilitate Covid relief programmes in different markets, with the Jury reporting that two-thirds of respondents (70 per cent) were provided emergency support to government efforts to either contain the pandemic and/or manage the adverse effects on the economy.

To read the report in full click here. 

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.


Alt Lending Week Ended 30th April 2021


Horta-Osorio awaits Greensill legal battle in Credit Suisse in tray

Quite a problem for the incoming Credit Suisse chairman.  A group of investors who bought paper through Credit Suisse issued by Greensill capital is now considering a class action against CS for amongst other things mis-selling and misleading disclosure. So far CS has fired the Head of Investment Banking and the Head of Risk and compliance. It is like a chapter from Bonfire of the vanities. A couple of things strike me. There is obviously a question mark against whether the bank knew what Greensill was actually getting up to and the quality of the assets on its books. Words like reckless are being used. Pretty basic stuff actually. An action has already been filed in a US court alleging misleading investors and mismanaging risk. Greensill’s self styled activities were in Supply Chain Finance. This has been around for donkey’s years in the form of invoice factoring but Greensill took it to another level apparently lending against invoices that had not even been issued let alone accepted. There is a sense of déjà vu here. In the late 1980’s I arranged over £ 1 billion of CDO finance so I am familiar with the concept. The management of portfolio risk is not difficult but it does need attention to detail, plenty of due diligence, proper risk assessment and continuous monitoring. Investment banks are a bit like celebrity chefs cooking up meals that look very tasty but if they use toxic ingredients they do not get food poisoning: the investors however feel very sick indeed. Has anyone learned anything since 2008? Doesn’t look like it!

JP Morgan apologises for European Super league (ESL) fiasco

JP Morgan supremo Jamie Dimon clearly did not understand the PR disaster that would befall his bank following its decision to bankroll the failed ESP. It’s a bit late now but to be fair to him he is not the only one to look a bit over qualified this week. David Cameron obviously did not understand what he was doing lobbying for a company that was in deep financial difficulty. Neither did Credit Suisse’s management understand what is was into with the same company. Lending money does not need lots of technology particularly if you are in to larger amounts. But understanding simple things helps. What is the money going to be used for? How do we ensure that it is used for that specific purpose? Will this upset or hurt anybody else? How can we make sure that we get it back without embarrassment? On the last question the government is going to be on the hook for a mountain of bad debt on their COVID support facilities. I hope they have the answers.

Sovereign Debt and portfolio Management Issues

As Banks started to internationalise their businesses in the late 1960 they started to realise that some control should be exercised over their global exposures. I remember this well during my spells at Bankers Trust, Dresdner and BofA. The object of the exercise was, as usual, risk management and amelioration and it was important to the management of portfolios. Hence some kind of framework needed to be developed. This was recognised in spades during the sub prime crisis of 2008 where the United States exported a systemic collapse of its huge mortgage portfolio all over the world. The Telegraph today has a piece where Matthew Lynn points out that sovereign exposure is still important  to investors everywhere. Since 2008 the printed money that so called advanced economies have been throwing around has ended up all over the place and while individuals may no longer feel that they are affected something nasty could be coming to your pension pot at any time as well as to your hedge fund or family office. Banks are of course not as important as they were in this regard, the ECB excepted. However it is vital to know where risk concentrations are and how they might affect you. In this piece Mr. Lynn points out that France is now the third biggest debtor in the world after the US and Japan but with one large difference that debt is held across the globe and is therefore more volatile that France, Spain and Greece despite the overall lower debt to GDP ratios.

Howard Tolman is a well-known banker, technologist and entrepreneur in London,

We have a self imposed constraint of 3 news stories per week because we serve busy senior Fintech leaders who just want succinct and important information.

For context on Alt Lending please read the Interview with Howard Tolman about the future of Alt Lending and read articles tagged Alt Lending in our archives.

Daily Fintech’s original insight is made available to you for US$143 a year (which equates to $2.75 per week). $2.75 buys you a coffee (maybe), or the cost of a week’s subscription to the global Fintech blog – caffeine for the mind that could be worth $ millions.


Mastercard Strengthens Digital Payment Capabilities Across the Asia Pacific


Mastercard is strengthening its global Digital First programme across the Asia Pacific, alongside a range of innovative partners, to deliver even more seamless and secure digital payment options than consumers expect as they continue to shop and bank online more than ever before.

Mastercard’s Digital First programme maximises the safety, security, and convenience of e-commerce, online banking, and contactless transactions by providing the guidelines for payment processors, fintechs, issuing banks, and other partners to create end-to-end digital payment options at scale.

Backed by the speed and security of Mastercard’s global network – including the Mastercard Processing platform to enable instant issuance – the Digital First programme offers consumers the ease of applying online, rapid access to begin making purchases, flexibility, and peace of mind while shopping. It gives consumers the choice of making payments with digital cards or directly from bank accounts by using smartphones, smartwatches, or any other digital device. It also provides innovative new ways to receive payments including Mastercard’s QR on Card, which places a QR code on a consumer’s payment card to allow senders to scan and transfer funds securely and easily to their account of choice.

With consumers making a rapid and lasting shift to a “digital by default” mindset, Mastercard’s research shows that 30% of people in Australia, 49% in India, 55% in China, and 34% in Japan plan to make more purchases online. A large majority – 71% in Australia, 77% in India, 73% in China, and 62% in Japan – believe the shift to contactless payments is here to stay.

With this greater demand for digital experiences, Mastercard is enabling its customers to innovate faster by providing a network of partners that support each step of the consumer digital journey – from acquisition and usage to management.

“Mastercard has been leading the drive into inclusive digital commerce for many years by delivering frictionless and secure payment experiences for the billions of people shopping and managing their finances at their fingertips around the clock and around the world,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard.

“Combined with the strengths of Mastercard’s partners, the Digital First programme offers the convenience of fast, transparent payments and maximises consumer choice with everything from digital cards in e-wallets, to QR on Card, to the Pay by Account solution that lets people make payments from a bank account using their financial service provider’s app. For merchants, the benefits include access to a wider consumer base and faster availability of funds.”

In the Asia Pacific, Mastercard’s Digital First products are becoming the standard in many markets with customers including HSBC, Mox by Standard Chartered and WeLab Bank in Hong Kong SAR, Singapore’s GrabPay, Atlantis in Singapore and India, RBL Bank, Yes Bank, and BOB Financial Solutions Limited (BFSL), also in India, VIB in Vietnam, Sumitomo Mitsui Card Co. Ltd and Credit Saison in Japan, as well as a number of financial institutions in Australia such as Bankwest and Bendigo and Adelaide Bank.

Mastercard and BFSL have recently announced that they will jointly offer Mastercard’s QR on Card service for small and micro-merchants in India, enabling these businesses to accept cashless payments. This service, the first-of-its-kind in the world, empowers merchants to spend and earn on the same card, making it easier for them to receive digital payments flexibly and quickly while making deliveries or serving customers in-store.

The strengthening of Mastercard’s Digital First programme in the region mirrors its expansion in North America to deliver unique value for cardholders and account holders with the best-in-class banking and payments experience in today’s rapidly evolving digital economy.

For the Digital First programme in the Asia Pacific, Mastercard offers the benefits of its own Mastercard Processing platform and partners with payment processors and fintechs including Euronet Worldwide, Tutuka, HPS, Global Processing Services (GPS), and Episode Six, along with digital platform providers such as Thales, Verestro (uPaid), Nuclei and Infosys.

Together with these partners, Mastercard’s Digital First programme focuses on:

  • Online application: Enables people to apply online and receive card information almost immediately upon issuer approval.
  • Near-instant issuance: Gives cardholders access to their card information almost immediately so that they may begin making purchases online, within apps, and in stores through digital wallet offerings. An optional physical card is also available.
  • Quick access to details: Credentials can be accessed swiftly and securely via the digital environment, eliminating the need for names and numbers to be displayed on the physical card.
  • Simple and easy management: Allows people to manage their payment credentials digitally, including access to transaction history and balance information, alerts, and card benefits.
  • Choice of payment and receiving instrument: Offers consumers the option of both paying and receiving funds with a bank account or a card, enabling them to transact anywhere and anytime, while leveraging Mastercard’s global acceptance.
  • Safety and security: The Digital First programme provides the highest standards of security to ensure consumers continue to be protected for all online and offline transactions.
  • Tyler is a Fintech Junior Journalist with specific interests in Online Banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.


European Market Recovery Surpassed by Demand for P2P Investment


Europeans are becoming increasingly interested in P2P investment, analysts at the P2P platform Robo.cash have concluded, following analysis of search request volumes related to the topic over the year. The growing popularity appears to exceed the rate of industry recovery, which may result in great market acceleration.

Analysts at Robo.cash have considered search queries in 10 European countries. According to the findings, the popularity of P2P investment began to rise rapidly in the second half of last year. Compared to August 2020, the number of search requests in March 2021 increased by 83%, reaching 88,000. There was also a peak in January this year when the search queries nearly reached 99,000 (an increase by 106% compared to August 2020).

Search Queries P2P Investment

Search Queries P2P InvestmentIn addition to search requests, analysts at Robo.cash have considered changes in monthly funding volumes of 31 European P2P platforms over the same period; based on data sourced by P2P Banking. Interestingly, the volumes in March 2021 exceeded the August 2020 results by 63%. It demonstrates that the demand for P2P investment began to exceed the pace of market recovery in the second half of 2020 and further into 2021. This may signify the beginning of a strong market acceleration, setting the pace for the rest of the year.

Commenting on the finding, Sergey Sedov, Founder and CEO of Robo.cash, said “We observed a growing trend in investor activity on our platform, beginning H2 2020 and continuing this year. In Q1 2021, the net deposits on Robo.cash grew by 46% compared to the previous quarter, while the number of new investors went up incredibly by 139%. This is likely the result of the continuous rise in popularity of the market in general, and is also indicative of the growing trust between the investors and P2P platforms.”

  • Tyler is a Fintech Junior Journalist with specific interests in Online Banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.


Google Pay Steps Up Embedded Finance, Banking Tools


After reviving Google Pay in November of last year, Google made an announcement today that is sure to turn some heads in the fintech space. The two most relevant elements in today’s news release are new shopping options and spending insights.

To offer new shopping options, Google has partnered with Safeway and Target to help users browse weekly deals on groceries at Safeway and Target locations from within the Google Pay app. The app will enable shoppers to save their favorite items to purchase at a later date. Soon, users will be able to turn on push notifications to see deals from 500 Safeway stores and nationwide Target stores when they are nearby (if they have location services enabled).

The additional embedded shopping tools bring added stickiness to the app. However, Google will need to offer shopping experiences at more than just two stores to truly capture users’ attention.

Google Pay’s new spending insights tool comes a bit closer to what consumers may expect to see at their traditional bank. Via the Insights tab, users can see their account balance, view upcoming bill reminders, analyze weekly spend summaries, and receive alerts when large transactions are made. Under the Insights umbrella, Google also made it easy for users to view transactions by merchant or by category.

While the new spending insights may prove to be useful to shoppers, without more robust budgeting, planning, and forecasting tools Google Pay is unlikely to win consumers over from their traditional bank.

In today’s release, Google also added two more cities in which travelers can pay for transit. Via an integration with Token Transit, users in the San Francisco Bay area and Chicago can purchase and use mobile transit tickets through the Google Pay app. The two new cities join the list of 80 cities and towns across the U.S. that already offer travelers transit purchasing capabilities via Google Pay.

Regardless of the shortcomings of today’s new features, both banks and fintechs should be wary of Google Pay’s next moves. The app’s embedded finance capabilities, including grocery shopping and added transit ticket purchasing, are a signal of what is to come. Similarly, if Google Pay continues to add more personal financial management tools, such as budgeting and retirement planning, consumers may want to spend more time within the Google Pay environment and less time in their traditional banks’ app.


Chase builds out digital and product leadership team, Citi hires new compliance chief


This month saw investment in digital leadership and compliance, as C-suite positions were filled with new faces at JPMorgan Chase, Citi and Independent Financial, as well as at MoneyGram and Fiserv. Notable hires from April include: Chase grows its consumer and community banking digital and product leadership team JPMorgan Chase brought three new recruits into […]


Listen: Explainable artificial intelligence could be game-changer for banks


Explainable artificial intelligence (AI) could be the key to making AI more accessible for regulators and banks looking to provide insight into how the technology makes decisions. One of the challenges with AI in financial services is explaining AI’s “black box,” which refers to the limited visibility, even by developers, into an algorithm trained with […]


FinovateSpring: The Power of Data and the Role of the Customer in the Post-COVID Era


Our all-digital spring fintech conference is right around the corner. Here’s a look at some of the luminaries who will be sharing their insights at this year’s FinovateSpring, May 10 through May 13.

Seven in Seven

For years, we’ve put our demoing companies to the seven-minute test. Now its our experts’ turn on the clock. Our Seven in Seven main stage session on Tuesday, May 11, gives seven analysts, innovators, and executives seven minutes each to share their insights into the most critical issues facing banks and fintechs in 2021 and beyond.

  • Ronit Ghose, CitiBio
  • Hugh Shannon, OakNorthBio
  • Siri Borsum, HuaweiBio
  • Alex Weber, N26Bio
  • Charles Potts, Independent Community Bankers of AmericaBio
  • Nadia Edwards-Dashti, Harrington Star GroupBio
  • Alex Johnson, Cornerstone AdvisersBio

Main Stage Keynotes

Looking for a 30,000 foot view of the fintech landscape? Our mainstage, keynote addresses examine the terrain.

The Pandemic’s Lasting Impact on Financial Services and What Comes Next

The pandemic pushed financial services companies to innovate and accelerate their digital transformations overnight. Hitting the industry’s reset button has created growing pains and increased competition for some and opportunities for others, including new customers and partnerships– but what does this mean for the future of banking?

Melissa Manne, Marcus by Goldman SachsSessionBio

Enabling a Data-Driven Enterprise

To streamline and automate compliance activities, leading firms are now implementing an enterprise data fabric to bring together data from across the enterprise, reducing manual effort, increasing accuracy, lowering latencies, and simplifying operations.

In this session we will present a subset of the research findings, describe what top analysts are calling “the future of data management,” and how it is being used to streamline both compliance initiatives and accelerate strategic business initiatives at top financial services firms.

Joe Lichtenberg, IntersystemsSessionBio

How Covid Has Transformed Global eCommerce & Omnichannel Payments

How Will True Mobile Wallets Evolve & Will They Be Able To Connect Internationally?

Will Graylin, OV LoopSessionBio

A Digital Banking Roadmap For Community Banks & Credit Unions: Start With The Customer & Work Back

Rilla Delorier, Coastal Community BankSessionBio

Power to the Panels!

From insights into customer engagement to expanding the role of women in fintech, our mainstage Power Panel discussions offer deep dives and diverse opinions on key issues in our industry.

Customer Insights – Sharing Real Life Examples Of Best Practice In CX And How To Blend Human & Digital CX

  • Dominic Venturo, U.S. BancorpBio
  • Camilla Morais, BrexBio
  • Stephen Goldstein, RGAXBio
  • Lamont Young, Citizens BankBio
  • Alyson Clarke, ForresterBio
  • Read more

How Will New Technologies, New Competitors And New Business Models Shape The Future Of Payments? Is Payments Orchestration About To Have Its Moment?

  • Andrew Steele, Activant CapitalBio
  • Carolyn Criscitiello, Santander BankBio
  • Eric Van Miltenburg, RippleBio
  • Gilles Ubaghs, Aite GroupBio
  • Read more

Lending 2.0 – What Are The Problems That Need To Be Solved For Consumers & SMEs In The New COVID 19 World?

  • Mark Ruddock, BFS CapitalBio
  • Mercedes Bent, Lightspeed Venture PartnersBio
  • Tom Burnside, LendingPointBio
  • Louise Beaumont, TechUKBio
  • Read more

Paving The Way For The Next Generation Of Female Founders & Executives – How Can We Reach A Gender-Neutral Future In Financial Services?

  • Nisa Amoils, A100xBio
  • Sarah Wolter, FinTech CollectiveBio
  • Cat Hernandez, Venture CollectiveBio
  • Michelle Tran, NYC Fintech WomenBio
  • Read more

Tickets for FinovateSpring are available now. Book your reservation by April 30 (this Friday!) and save $100 on the price of your four-day, all-access pass!

Photo by PhotoMIX Company from Pexels


GoCardless Launches Open Banking Payments as 52% Of Americans Have “No Clue” What Open Banking Is


GoCardless, a fintech for bank-to-bank payments, has launched Instant Bank Pay, a new open banking feature directly integrated into its global payment platform. With Instant Bank Pay, merchants can take instant, one-off bank-to-bank payments from new and existing customers while still reaping the benefits of bank debit for their recurring payments.

The announcement marks the first milestone in GoCardless’ journey to accelerate its open banking strategy, for which it received $95 million in funding at the end of 2020. By combining open banking technology with its existing global bank debit network, GoCardless can offer its more than 60,000 merchants a new low-cost, seamless and convenient way to collect instant payments that works for any revenue model.

“We’ve specialised in bank-to-bank payments for over 10 years, with bank debit being the primary payment method. And, while it provides many advantages to consumers and businesses, speed of payment authorisation is a drawback,” said Hiroki Takeuchi, co-founder and CEO of GoCardless. “Instant Bank Pay addresses this pain point by giving merchants the best of both worlds: open banking will provide instant confirmation of payment authorisation, enabling them to have immediate visibility of their one-off payments, and bank debit will continue to offer the cash flow, cost and retention benefits business owners have come to expect.”

With the introduction of Instant Bank Pay, GoCardless will expand its offering into the adjacent e-commerce market, where it can take on both one-off and card-on-file payments.

Takeuchi added, “By enabling businesses to take any kind of payment through GoCardless, we can challenge the dominance of cards and move beyond collecting subscriptions, invoices and instalments. The launch of this open banking feature means we can now serve any merchant, regardless of whether they have an ongoing or one-off relationship with their customers.”

Benefits for consumers

According to research from GoCardless, open banking is still a nascent concept in the US. Half of Americans (52%) say they have “no clue” what open banking is, and, of those who have heard of it, over a third (37%) reveal they “think of it like 5G – I know it’ll benefit me but don’t know what it is.”

Regardless of whether open banking is well known, the technology will solve problems that consumers currently face.

Seven in 10 Americans (70%) indicate they would be annoyed if they had to pay for goods or services using multiple payment methods. One example is paying with a card for on-the-spot access when they join a new gym, then needing to fill out forms to set up another payment type for ongoing transactions. Instant Bank Pay would eliminate this extra step by offering a single payment sign-up process, delivering a seamless customer experience.

Furthermore, 61% of Americans believe it’s a hassle to update the payment details for all of their regular expenses, such as streaming subscriptions, when they get a new credit or debit card. Using open banking payments means they won’t have to – their payment details stay the same unless they switch bank accounts

Benefits for businesses

While it can be used in many scenarios, Instant Bank Pay addresses an issue that is particularly acute for recurring revenue businesses. According to research from GoCardless, 85% of merchants with this business model have a need for collecting additional one-off payments. Examples include collecting a payment upfront at the start of a subscription, purchasing additional goods or services, or adding money to an account outside of a customer’s regular payment schedule.

Bank debit is not suitable for some one-off payments because it doesn’t provide instant visibility of payment authorisation. This has forced many merchants to turn to card payments, often with high fees attached, or time-consuming manual bank transfers. Instant Bank Pay is a fast and easy way for customers to make a one-off account-to-account payment. Instant confirmation provides better visibility of payments, eliminates costly credit card fees, and reduces late payments, thanks to a seamless payer journey.

Merchants can build the Instant Bank Pay option straight into their checkout flow or simply send a payment request with a link to pay. Similar to a mobile wallet payment, payers are seamlessly connected to their bank and can authorise a payment directly from their bank account in just a few taps.

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.


Fintech News Issue #312


FinTech Weekly is ©
and published by the

Railslove GmbH

An der Bottmühle 5

50678 Cologne




Registergericht: Amtsgericht Köln, HRB 70843

Geschäftsführer: Jan Kus, Tim Schneider

Inhaltlich Verantwortlich gemäß TMG und Paragraph 55 Abs. 2 RStV: Railslove GmbH (Anschrift wie oben)

Haftungshinweis: Trotz sorgfältiger inhaltlicher Kontrolle übernehmen wir keine Haftung für die Inhalte externer Links. Für den Inhalt der verlinkten Seiten sind ausschließlich deren Betreiber verantwortlich.