Author

Christina Mertens

Published

26 January 2026

Estimated Read time

5Mins

Christina Mertens, vice president of business development, EMEA, at VIRTUS Data Centres on designing next gen digital infrastructure

Europe’s digital infrastructure is entering a new phase of development. For more than a decade, growth was concentrated in a small number of metropolitan hubs. This was where connectivity, enterprise demand and financial services created natural centres of gravity for data centres. Cities such as London, Frankfurt, Amsterdam and Paris (FLAP markets) became the backbone of Europe’s cloud and colocation landscape.

That model is now under pressure. Computing power is surging in ways that surpass forecasts made even two years ago. AI training and inference, high performance computing (HPC), analytics and modernised public services all require significant and sustained energy and cooling capacity. McKinsey suggests that global demand for data centre capacity could more than triple by 2030. It’s clear Europe needs more digital infrastructure. However, it needs that infrastructure in places with the headroom and regulatory clarity to support long term expansion. And this is why what are referred to as second-tier locations are becoming critical to expanding Europe’s digital architecture.

In practical terms, second-tier locations are not secondary in importance. They are cities and regional areas outside the most constrained metropolitan centres, where there is greater headroom for power, land and long-term infrastructure planning. Across Europe, this includes parts of regional Germany and Italy, Iberia, the Nordics and areas of the UK outside of London. These locations are now playing a central role in how Europe expands its digital capacity.

Why the Digital Infrastructure Shift is Happening

The primary driver is power. Data centres require sustained, predictable electrical capacity over long periods, particularly as AI workloads increase baseline demand. In dense urban centres, electricity networks are often operating close to their limits, and upgrading them is complex, costly and slow. New substations are difficult to site, transmission upgrades can take many years, and competition for capacity from other sectors is intensifying.

Land availability compounds this challenge. Modern data centres are no longer single buildings inserted into existing industrial estates. They are increasingly campus-based developments, designed to accommodate multiple facilities, on-site substations and future expansion. Securing sites of that scale within major cities is difficult and expensive. And often incompatible with planning frameworks that prioritise mixed-use or residential development.

By contrast, regional and edge-of-city locations offer more physical space and greater flexibility. They make it possible to plan electrical infrastructure coherently from the outset, rather than retrofitting systems around urban constraints. For building services professionals, this changes the nature of both design and delivery.

Delivery Challenges in Regional Locations

While second-tier locations offer more space and flexibility, they are not without challenges. Securing grid capacity remains a critical path issue. It requires close collaboration with transmission and distribution network operators, regardless of geography. In some regions, new infrastructure or upgrades are required to support data centre demand. This can introduce complexity into delivery programmes.

Phased development is another defining characteristic. Many campuses are designed to be built out over several years, sometimes over a decade or more. Electrical and mechanical systems need to be designed and installed in a way that supports this staged approach, maintaining operational efficiency while allowing for expansion.

This places a premium on coordination between designers, contractors, operators and utilities. Clear documentation, consistent standards and long-term programme management become essential, particularly where different phases may be delivered by different teams over time.

Skills and Workforce Considerations

As data centre development spreads across a wider range of locations, skills availability becomes an important consideration. High-voltage electrical expertise, experience with resilient power systems and familiarity with data centre standards are already in demand, and that demand is unlikely to ease.

In regional locations where specialist labour pools may be smaller, there is increased focus on training, apprenticeships and long-term workforce development. From an operator and developer perspective, the ability of contractors and consultants to provide consistent quality across multiple phases is particularly valued on campus-scale projects.

This creates opportunities for building services firms that invest in people and develop repeatable delivery capability. Long-term relationships can be built where teams understand an operator’s standards and are involved across successive phases of development.

The Influence of AI and Higher-Density Workloads

AI is accelerating many of these trends. Training and inference workloads place sustained loads on electrical and cooling systems, increasing the importance of reliability and predictable performance. This reinforces the need for robust primary infrastructure and careful long-term planning.

Second-tier locations make it easier to accommodate these requirements because they allow for comprehensive system design at scale. Space for substations, cooling plant and future expansion can be planned into the site from the beginning, rather than being constrained by surrounding development.

From a building services perspective, this does not necessarily mean radically new technologies, but it does increase the importance of integration, resilience and accurate demand forecasting.

Why this Matters for the Built Environment Sector

The shift toward second-tier locations represents more than a geographical redistribution of data centres. It reflects a broader change in how digital infrastructure is planned, designed and delivered. Larger sites, longer programmes and greater emphasis on early-stage coordination place building services and electrical design at the centre of successful delivery.

For the built environment sector, this creates sustained opportunities across design, construction and operation. Campus developments require ongoing engagement rather than one-off interventions, and they rely on teams that can think beyond individual buildings to system-level performance over time.

Looking Ahead…

So, it’s clear that Europe’s digital infrastructure is becoming more distributed, and that trend is unlikely to reverse. Power constraints, planning pressures and rising digital demand all point toward continued development beyond traditional metropolitan hubs.

Second-tier locations are not a temporary solution. They are becoming a permanent and essential part of Europe’s digital landscape. For building services professionals, understanding how to design and deliver infrastructure at this scale, and over these time horizons, will be increasingly important.

As the next phase of development unfolds, success will depend on careful planning, strong collaboration and a clear understanding of how electrical and mechanical systems underpin the resilience and performance of Europe’s digital future.

Learn more at virtusdatacentres.com

  • Data & AI
  • Digital Strategy

Author

Dan Brightmore

Published

8 January 2026

Estimated Read time

4Mins

Vertiv expects powering up for AI, Digital Twins and Adaptive Liquid Cooling to shape future Data Centre Design and Operations

Data Centre innovation is continuing to be shaped by macro forces and technology trends related to AI, according to a report from Vertiv, a global leader in critical digital infrastructure. The Vertiv™ Frontiers report, which draws on expertise from across the organisation, details the technology trends driving current and future innovation, from powering up for AI, to digital twins, to adaptive liquid cooling.

“The data centre industry is continuing to rapidly evolve how it designs, builds, operates and services data centres, in response to the density and speed of deployment demands of AI factories,” said Vertiv chief product and technology officer, Scott Armul. “We see cross-technology forces, including extreme densification, driving transformative trends such as higher voltage DC power architectures and advanced liquid cooling that are important to deliver the gigawatt scaling that is critical for AI innovation. On-site energy generation and digital twin technology are also expected to help to advance the scale and speed of AI adoption.”

The Vertiv Frontiers report builds on and expands Vertiv’s previous annual Data Centre Trends predictions. The report identifies macro forces driving data centre innovation:

  • Extreme densification – accelerated by AI and HPC workloads; gigawatt scaling at speed – data centres are now being deployed rapidly and at unprecedented scale
  • Data centre as a unit of compute – the AI era requires facilities to be built and operated as a single system
  • Silicon diversification – data centre infrastructure must adapt to an increasing range of chips and compute

The report details how these macro forces have in turn shaped five key trends impacting specific areas of the data centre landscape.

1.         Powering up for AI

Most current data centres still rely on hybrid AC/DC power distribution from the grid to the IT racks, which includes three to four conversion stages and some inefficiencies. This existing approach is under strain as power densities increase, largely driven by AI workloads. The shift to higher voltage DC architectures enables significant reductions in current, size of conductors, and number of conversion stages while centralising power conversion at the room level. Hybrid AC and DC systems are pervasive, but as full DC standards and equipment mature, higher voltage DC is likely to become more prevalent as rack densities increase. On-site generation, and microgrids, will also drive adoption of higher voltage DC.

2.          Distributed AI

The billions of dollars invested into AI data centres to support large language models (LLMs) to date have been aimed at supporting widespread adoption of AI tools by consumers and businesses. Vertiv believes AI is becoming increasingly critical to businesses but how, and from where, those inference services are delivered will depend on the specific requirements and conditions of the organisation. While this will impact businesses of all types, highly regulated industries, such as finance, defence, and healthcare, may need to maintain private or hybrid AI environments via on-premise data centres, due to data residency, security, or latency requirements. Flexible, scalable high-density power and liquid cooling systems could enable capacity through new builds or retrofitting of existing facilities.

3.          Energy autonomy accelerates

Short-term on-site energy generation capacity has been essential for most standalone data centres for decades, to support resiliency. However, widespread power availability challenges are creating conditions to adopt extended energy autonomy, especially for AI data centres. Investment in on-site power generation, via natural gas turbines and other technologies, does have several intrinsic benefits but is primarily driven by power availability challenges. Technology strategies such as Bring Your Own Power (and Cooling) are likely to be part of ongoing energy autonomy plans.

4.          Digital twin-driven design and operations

With increasingly dense AI workloads and more powerful GPUs also come a demand to deploy these complex AI factories with speed. Using AI-based tools, data centres can be mapped and specified virtually, via digital twins, and the IT and critical digital infrastructure can be integrated, often as prefabricated modular designs, and deployed as units of compute, reducing time-to-token by up to 50%. This approach will be important to efficiently achieving the gigawatt-scale buildouts required for future AI advancements.

5.          Adaptive, resilient liquid cooling

AI workloads and infrastructure have accelerated the adoption of liquid cooling. But conversely, AI can also be used to further refine and optimise liquid cooling solutions. Liquid cooling has become mission-critical for a growing number of operators but AI could provide ways to further enhance its capabilities. AI, in conjunction with additional monitoring and control systems, has the potential to make liquid cooling systems smarter and even more robust by predicting potential failures and effectively managing fluid and components. This trend should lead to increasing reliability and uptime for high value hardware and associated data/workloads.

Vertiv does business in more than 130 countries, delivering critical digital infrastructure solutions to data centres, communication networks, and commercial and industrial facilities worldwide. The company’s comprehensive portfolio spans power management, thermal management, and IT infrastructure solutions and services – from the cloud to the network edge. This integrated approach enables continuous operations, optimal performance, and scalable growth for customers navigating an increasingly complex digital landscape.

Find out more at Vertiv.com.

  • Data & AI
  • Digital Strategy
  • Infrastructure & Cloud

Author

Emma Steeley

Published

2 December 2025

Estimated Read time

5Mins

Emma Steeley, CEO of Infinian, the global real time credit intelligence bureau providing data to banks, lenders and other data businesses, explains the consequences of credit data being stuck in the past, and how banks and fintechs can overcome the mounting consequences

Despite a cost-of-living crisis and unpredictable economic outlook, too many lenders are forced to make credit decisions using information that belongs to another era. This outdated data is based on small samples, derived from national averages and historical surveys that fail to capture the volatility and diversity of financial realities defining life in the UK today.

That disconnect between data and reality harms consumers, distorts pricing, and drags on the wider economy. In short, affordability decisions are outdated before they are made. Borrowers are judged on figures that don’t reflect their actual costs, creditworthy customers are turned away, while others are approved for loans they can’t afford. Real-time, accurate, large-sample data is essential for fair and functional credit markets, and as an industry we must work to ensure decision-making is dragged into the modern day, to support the integrity of financial services and the aims of Consumer Duty for the good of financial services and consumer duty.  

Legacy Models Versus Modern Risks

For years, affordability models have relied on spending benchmarks from the Office for National Statistics (ONS) and other national-level datasets. ONS data, often sourced from the Living Costs and Food Survey, can lag real-world conditions by more than a year. It captures what households spent yesterday, not what they face today.

When models depend on national averages and retrospective surveys, they miss the nuances of how people earn and spend. Workers on variable incomes, renters, and those without long credit histories are most likely to be penalised. They may be financially stable, but legacy data can’t see that, leading to unnecessary declines and reinforcing the gap between those who can access affordable credit and those who can’t. Moreover, outdated data also increases the risk of false positives, meaning lenders may approve those who are likely to default.

False positives and negatives aren’t the only concerns, but also compliance – the Financial Conduct Authority’s Consumer Duty makes clear that firms must deliver “good outcomes” for retail customers, including through fair pricing and practical support. If lending decisions are based on incomplete or obsolete data, it becomes difficult to evidence that duty. The FCA’s own CONC 5.2A rules require a “reasonable assessment” of a customer’s ability to repay; data that misrepresents current affordability can’t reasonably support that test.

Legacy benchmarks, once a useful proxy, now risk embedding unfairness. They distort pricing, entrench exclusion, and hold back lending when the economy most needs momentum.

Gaining a True Perspective on Affordability

Fresher, more granular data is changing what responsible lending can look like. Real-time or high-frequency data streams from verified income flows, transaction activity, and recurring payment histories provide lenders with a comprehensive picture of affordability.

Unlike static surveys, these sources track actual behaviour. They show how a household’s disposable income shifts month to month, how energy or rent payments fluctuate, and how consistently people meet obligations. When used responsibly, this information enables lenders to make faster, more informed decisions that align with each borrower’s actual circumstances.

The payoff is fairer, more inclusive, and more responsible: three goals that don’t have to be in tension. Real-time credit intelligence can also help reduce unnecessary declines, extend access to consumers previously considered “thin-file,” and still maintain prudent risk controls. In other words, responsible lending doesn’t have to mean lending less; it means lending smarter.

It also helps lenders identify early signs of financial stress. If outgoings begin to rise faster than income, that signal appears immediately rather than months later, allowing firms to step in with tailored support before problems escalate. By closing the gap between reality and response, real-time data enables lenders to be both fairer to customers and more agile in managing their portfolios.

The Commercial Case for Better Data

Aside from the moral argument, and the benefits it will bring to compliance and consumer protection, there’s also commercial incentives to modernise credit data.

With access to better data, lenders can approve more of the right customers without increasing risk. Decision engines will become sharper, with improved acceptance rates and portfolio performance simultaneously.

Speed is another advantage. Consumers nowadays expect instant answers and laggy underwriting processes can make customers shift to faster competitors. Access to real-time credit data enables lenders to expedite these processes, thereby improving satisfaction and conversion rates. In a crowded market, those gains translate directly into loyalty and market share.

Basing decisions on current financial behaviours also reduces the need for unnecessary full-bureau checks and manual interventions, lowering the cost per decision and freeing up resources for higher-value activity.

Ultimately, modernisation is about competitiveness. Financial institutions, whether banks or fintechs, that invest in real-time credit intelligence today will be well-placed to earn trust, loyalty, and market advantage.

The Future of Fair Finance

Credit markets rely on accuracy, and accuracy in turn depends on timeliness. When the information behind lending decisions lags behind real life, fairness falters, capital is mispriced, and opportunities are lost.

Real-time, representative data allows lenders to extend credit responsibly, price risk precisely, and support customers before problems arise. It strengthens inclusion while improving overall performance.

In a world where household finances can change in weeks, lending models must keep pace with reality. Institutions that invest in live, comprehensive data today will set the benchmark for fair and effective finance in the years ahead.

Find out more at infinian.com

  • Artificial Intelligence in FinTech
  • Digital Payments
  • InsurTech

Author

Jalal Charaf

Published

20 November 2025

Estimated Read time

5Mins

Jalal Charaf, Chief Digital & AI Officer of the University Mohammed VI Polytechnic (UM6P) and Managing Director of Ecole Centrale Casablanca on how Africa can seize its moment to lead on data

In today’s world, data is not just about numbers and technology; it shapes how people live, how governments plan, and how businesses grow. It influences who gets a loan, who receives medical care, and who has access to education. That’s why control over data, called data sovereignty, is becoming one of the most important sources of power in the 21st century.

Unfortunately, Africa is still on the margins of this new reality. Although the continent is home to over 1.4 billion people, 18% of the world’s population, it provides less than 4% of the data used to train today’s most powerful AI systems. Most African data is stored in foreign data centres, beyond the reach of African laws and courts. This is no longer just a ‘digital divide’, it’s a dependence on outside systems that don’t fully understand or represent African realities.

What’s Holding Africa Back?

There are several key reasons why Africa remains largely underrepresented in the global digital economy.

First, representation. Most AI systems are built on data from outside Africa. As a result, they often misjudge or misrepresent African realities, whether it’s credit scoring, medical diagnostics, or speech recognition. The absence of African data creates blind spots that affect real lives.

Second, infrastructure. Africa captures less than 1% of global cloud revenue and has limited data storage and processing capacity. This forces governments and businesses to rely on distant cloud providers. Outages, costs, or policy shifts in other countries can suddenly disrupt services at home.

Third, governance. With 29 different national data protection laws, Africa lacks a unified approach to managing data. In contrast, the European Union negotiates data rules as a single bloc. Africa’s fragmented regulatory landscape makes it harder to attract investment or protect citizens’ rights.

Momentum is Building

Despite these challenges, there are reasons to be hopeful. Africa’s data centre market is expected to grow by 17.5% in 2025, thanks to rising digital demand and support from investors focused on environmental and social goals.

Several major projects are already underway. Microsoft and G42 (a technology group from the UAE) are investing $1 billion in a geothermal-powered data centre in Kenya. Equinix, one of the world’s largest data infrastructure companies, plans to spend $390 million expanding into West, South, and East Africa. By the end of this year, Rwanda and Zimbabwe will join the list of countries with carrier-neutral data centres, bringing the total to 26.

A Blueprint in Morocco

Morocco offers a model of what digital sovereignty can look like. In June 2025, a consortium led by Nexus Core Systems announced a 500-megawatt, renewables-powered AI infrastructure project on the Atlantic coast. Phase one, with 40 MW of NVIDIA’s Blackwell AI chips, will go live in early 2026, exporting compute power across Europe, the Middle East, and Africa.

Critically, this infrastructure is under Moroccan jurisdiction, not subject to U.S. laws like the CLOUD Act. The project proves that African countries can host cutting-edge data systems while protecting their own legal and strategic interests.

How Africa Can Lead

To turn early momentum into lasting sovereignty, African governments, institutions, and partners must work together across four pillars:

  • Data creation and curation. Countries should invest at least 1% of GDP in digital public infrastructure, such as national ID systems, crop mapping satellites, and open data portals. These systems ensure that African data reflects African lives.
  • Compute and storage. Regions with access to renewable energy can build local ‘green AI corridors’ linked by neutral internet exchanges. This keeps data close to where it’s generated and cuts dependence on foreign servers.
  • Policy and regulation. The African Union should lead a continent-wide Data Sovereignty Compact, a framework to harmonise data protection, localisation, and AI ethics. A unified legal environment will attract investment and support responsible innovation.
  • Talent and research. African universities and public agencies should develop homegrown AI talent. Governments can require that models trained on African data are hosted locally. Research must be rooted in African languages, priorities, and realities, not just imported standards.

A Role for Everyone: From Governments to Global Partners

Governments should commit at least 10% of their ICT budgets to data sovereignty and adopt AU-wide standards. Local cloud facilities and fibre infrastructure deserve long-term funding, not just short-term pilots.

Private industry must shift from short-lived cloud credits to permanent, on-the-ground investment. Companies should publish annual data localisation reports and follow the example set by Nexus Core Systems.

Development finance institutions (DFIs) should support 20-year infrastructure partnerships, not just one-off tech grants. According to the Global Partnership for Sustainable Development Data, every $1 invested in data systems brings $32 in economic return. That’s a smart investment.

Universities, civil society groups, and non-profits also have a responsibility. Open data repositories, civic tech labs, and ethical data governance initiatives must be scaled up to support innovation that’s inclusive and local.

A Strategic Opportunity: OpenAI for Countries

OpenAI has recently launched an initiative called OpenAI for Countries, designed to help governments build local data centres, train AI systems in national languages, and support start-ups in their own ecosystems. The program is looking for ten partner countries in its first phase. This initiative aligns well with Africa’s goals for sovereign data and democratic AI development.

Africa’s Moment to Lead on Data

Africa has everything it needs to become a global leader in digital intelligence. Its young population, growing tech talent, and renewable energy potential are powerful advantages. But sovereignty will not be handed over, it must be built.

We must act now, before the rules of the digital world are written without us. Morocco’s Nexus Core project shows what’s possible when ambition meets action. It’s time for the rest of the continent to follow suit, and shape a future where Africa owns its data, tells its stories, and sets its own course.

  • Data & AI
  • Digital Strategy

Author

Dan Brightmore

Published

20 October 2025

Estimated Read time

2Mins

New research from bluQube shows that, despite years of digital investment, many finance teams are still stuck in manual mode, with 40% of businesses managing up to half their financial data by hand

Despite years of investment in digital transformation, finance functions remain heavily reliant on manual processes that slow down decision-making and increase risk, according to new research from finance and accounting software company bluQube.

The survey of 700 finance and business leaders found that 40% of businesses continue to manage up to half of their financial data manually. More striking still, more than a quarter (26%) admitted that the majority of their financial data is still being handled in this way.

Digital Transformation Delayed

The findings point to a widespread dependence on spreadsheets and manual entry, even as digital finance tools and automation have become commonplace. This reliance is creating significant bottlenecks for organisations, leaving finance professionals tied up in routine processes rather than focusing on analysis and strategy.

When asked where they lose the most time, nearly a third (31%) of finance teams said reconciling accounts between entities was their biggest monthly pain point, followed by the month-end close (26%) and audit and compliance reporting (20%). These time-intensive activities underline how far many teams remain from achieving true automation.

The research also highlights a confidence gap in financial reporting. While just over half (54%) of respondents said they are very confident their current processes would satisfy investor or audit requirements for accuracy and speed, nearly half (46%) expressed at least some doubt about their data’s reliability or timeliness.

The appetite for improvement is clear. A third (33%) of finance leaders said eliminating manual processes would have the biggest positive impact on their work, followed by faster consolidated reporting (26%) and improving cash flow visibility (24%).

Facing Up to the Risks of Manual Processes

The risks stretch well beyond inefficiency. Manual handling of financial data increases the likelihood of mistakes, duplication, and delays. These errors compromise the accuracy of financial reporting and reduce the confidence leaders need to make critical decisions. place in the insights they need to steer their organisations. 

“Finance teams have been at the centre of digital transformation strategies for over a decade, yet our research shows many organisations remain trapped in outdated practices. Too much time is still being spent reconciling spreadsheets rather than generating insights that drive growth. Manual processes not only waste resources but also expose businesses to unnecessary risk. In a business environment defined by economic uncertainty, regulatory pressure, and heightened competition, that lack of reliability can have serious consequences. Automating financial workflows should now be seen as essential, not optional.”

Simon Kearsley, CEO of bluQube

The survey underscores the urgency for businesses to modernise their finance functions. By adopting intelligent accountancy software and embedding automation, organisations can cut down on errors, free up capacity for strategic projects and base decisions on accurate, real-time information.

  • Digital Payments
  • Neobanking

Author

Dan Brightmore

Published

15 September 2025

Estimated Read time

2Mins

Integration of open banking technology and digital banking experience platform delivers seamless, standards-compliant customer experiences

Ozone API, the global leader in open banking and open finance technology, and Plumery, a digital banking experience platform, today announced a strategic partnership for true customer-centric banking. The collaboration combines Ozone API’s specialist open banking platform with Plumery’s Digital Success Fabric, to empower financial institutions to deliver seamless, compliant, and innovative digital banking experiences.

The partnership combines Ozone API’s standards-based open API technology, built to support all global open banking standards and regulations, with Plumery’s modern, cloud-native digital banking experience platform. This integration empowers banks and financial institutions to rapidly deploy customer-centric mobile and web applications. These can seamlessly incorporate open banking capabilities without compromising on compliance or security.

Ozone API & Plumery – A Digital Partnership

“At Ozone API, we do one thing better than anyone else – provide standards-based open API technology to banks and financial institutions. Our partnership with Plumery represents the perfect orchestration of market-leading technologies. By combining our specialist open banking technology with Plumery’s innovative digital banking platform, we’re enabling financial institutions to deliver truly differentiated customer experiences with an accelerated time to market.”

Huw Davies, Co-founder and CEO of Ozone API

“Our partnership with Ozone API represents a significant milestone in our mission to empower financial institutions with truly customer-centric digital banking experiences. The integration enables banks to not just meet regulatory requirements, but to transform open banking from a compliance necessity into a competitive advantage. Through future-proof architecture our clients can now deliver innovative, personalised services that leverage open banking data while maintaining the flexibility and speed-to-market that our platform is known for.”

Ben Goldin, CEO, Plumery

The joint solution addresses the growing demand from financial institutions for integrated digital banking platforms that can harness open banking capabilities. These can enhance customer engagement and create new revenue streams. Banks can now utilise Plumery’s flexible, developer-friendly platform to craft tailored digital experiences. Meanwhile, seamlessly integrating Ozone API’s robust open banking functionality.

About Ozone API

Ozone API empowers banks, fintechs, and financial institutions worldwide to thrive in the world of open banking. Founded by the team behind the UK’s open banking standards, our platform delivers secure, compliant, and high-performance APIs that unlock the potential of open finance. We help clients across multiple continents comply with evolving standards, create commercial value from their data, and deliver innovation at speed. Learn more: https://ozoneapi.com

About Plumery

Founded in 2016 as a private consultancy collaborating with leading global banking companies, Plumery became a registered brand in 2017 and evolved into an independent product company in 2022. Backed by renowned venture capital firms, Plumery now offers a modern, cloud-native digital banking experience platform. Headquartered in the Netherlands, Plumery operates with a diverse team that embodies a unique combination of seasoned expertise and vibrant innovation. Operating across Amsterdam, Lisbon, and Vilnius, Plumery’s mission is to empower financial institutions worldwide, regardless of size, to craft distinctive, contemporary, and customer-centric mobile and web experiences. Learn more: https://plumery.com/

  • Digital Payments
  • Neobanking

Author

Dan Brightmore

Published

13 August 2025

Estimated Read time

2Mins

Join industry leaders and innovators in London at the 5th Annual Digital Banking Summit – October 21-22, a premiere event designed to explore the most transformative trends shaping the banking sector in the digital era.

The Digital Banking Summit two-day conference covers a range of critical topics. From AI-driven banking and open finance to financial inclusion and the future of digital identity. Discover how cutting-edge technologies like edge computing, hyper-personalisation and APIs are redefining corporate and retail banking. Engage in discussions around legacy system modernisation, sustainability through ESG initiatives and the regulatory landscape, including DORA and GDPR.

With sessions led by top executives from global financial institutions (including Santander, Revolut, Citi and Lloyds), attendees will gain actionable insights on leveraging innovation to streamline operations, enhance customer experience, and build resilient financial ecosystems. Take advantage of networking opportunities and 1:1 meetings to connect with senior leaders and experts. Don’t miss this opportunity to be part of the conversation shaping the future of digital banking.

Book your place here

Digital Banking Summit Day 1

  • Revolutionising Banking in the Digital Era
  • Open Banking and Open Finance
  • Financial Inclusion in Banking
  • Digital Identity: Onboarding, Compliance and Embedded Finance
  • Cross-Industry Collaboration in Banking
  • Banking for a Digital Workforce
  • Hyper-Personalisation in Wealth Management
  • Edge Computing
  • The Role of APIs in Transforming Corporate Banking
  • Digital Resilience
  • Legacy Systems vs Modernisation
  • AI in Banking

Digital Banking Summit Day 2

  • Automation and Cloud Banking
  • Data Monetisation: Ethics and Opportunities
  • Digital Marketing in Banking
  • CBDCs
  • Sustainable Banking Future with ESG
  • Navigating DORA, GDPR and Beyond
  • Digital Wallets
  • Mobile Banking
  • Crypto, Instant Transfers and Banking
  • AI-Driven Fraud
  • Customer-Centric Innovation
  • Cybersecurity: Deepfakes, AI Attacks and Quantum Risks

What Attendees Really Think About the Digital Banking Summit

“Very well organised conference with a lot of possibilities to meet people and very interesting topics in the banking world”

Director, ERI Bancaire S.A.

 “The energy at the event was truly invigorating, as industry leaders shared innovative ideas that are reshaping the future of banking”

Digital Product Lead, Unicredit

“Great experience! In order to meet with professionals from the industry, a lot of networking opportunities. Great topics!”

Strategy Manager, Akbank

“Valuable learning and interesting conversations”

Director, Wise

“The audience is on a very senior level, a lot of participants. Speakers are also on a very high level, everybody learned a lot. We are very, very happy!”

Head of Regional Marketing CEE & CIS, Finastra

“A great opportunity to meet the industry experts and get inspirational thoughts!”

Digital Product Manager, Innovation at Erste Bank

Book your ticket here

Author

Dan Brightmore

Published

17 July 2025

Estimated Read time

2Mins

Join industry leaders and innovators at the 5th Annual Digital Banking Summit

Digital Banking Summit is a premiere event designed to explore the most transformative trends shaping the banking sector in the modern era. This two-day conference will delve into critical topics such as AI-driven banking, open finance, financial inclusion, and the future of digital identity. Discover how cutting-edge technologies like edge computing, hyper-personalisation, and APIs are redefining corporate and retail banking. Engage in discussions about legacy system modernisation, sustainability through ESG initiatives, and the regulatory landscape, including DORA and GDPR. Book your place here.

Gain Expert Insights

With sessions led by top executives from global financial institutions, attendees will gain actionable insights… Learn more about leveraging innovation to streamline operations, enhance customer experience and build resilient financial ecosystems. Speakers include thought leaders representing Wells Fargo, Revolut, Wise, Standard Chartered, Lloyds and more…

Take advantage of networking opportunities and 1:1 meetings to connect with senior leaders and experts. Don’t miss this opportunity to be part of the conversation shaping the future of banking.


DAY 1 @ Digital Banking Summit

  • Revolutionising Banking in the Digital Era
  • Open Banking and Open Finance
  • Financial Inclusion in Banking
  • Digital Identity: Onboarding, Compliance and Embedded Finance
  • Cross-Industry Collaboration in Banking
  • Banking for a Digital Workforce
  • Hyper-Personalisation in Wealth Management
  • Edge Computing
  • The Role of APIs in Transforming Corporate Banking
  • Digital Resilience
  • Legacy Systems vs Modernisation
  • AI in Banking

DAY 2 @ Digital Banking Summit

  • Automation and Cloud Banking
  • Data Monetisation: Ethics and Opportunities
  • Digital Marketing in Banking
  • Central Bank Digital Currencies
  • Sustainable Banking Future with ESG
  • Navigating DORA, GDPR and Beyond
  • Wallets
  • Mobile Banking
  • Crypto, Instant Transfers and Banking
  • AI-Driven Fraud
  • Customer-Centric Innovation
  • Cybersecurity: Deepfakes, AI Attacks and Quantum Risks

Book your ticket here.

Author

Nell Walker

Published

13 May 2025

Estimated Read time

2Mins

DPW is set to hit New York for the second year in a row, bigger and better than in 2024, and with an extensive list of experts set to speak.

After the success of last year’s DPW NYC Summit, Digital Procurement World is making the event bigger and even better for 2025. DPW New York 2025 will take place at the extremely stylish ZeroSpace Brooklyn on the 11th and 12th of June. The theme this year is ‘Put AI to work’, focusing on the practical applications of artificial intelligence, and the opportunities for innovation across procurement.

The speakers have not yet been finalised and more may be added, but the event will include:

  • Brian Solis, Head of Global Innovation, ServiceNow
  • Jennifer Moceri, CPO, Google
  • Al Williams, CPO, Invesco
  • Eva Choe, CPO, The Chlorox Company
  • Kat Devlin, Head of Procure-to-Pay Operations and Travel & Expense, OpenAI
  • Oliver Gall, CPO, Prudential Financial
  • Maria Jesús Saénz, Director Digital Supply Chain Transformation Lab, MIT
  • Victor Miller, Chief Compliance Officer, Honeywell
  • Noah Eisner, Founder & Advisor, Coupa/Rebar Advisors
  • Bawana Radhakrishnan, SVP Global Supply Chain Digital Transformation, Colgate-Palmolive
  • Chris Duffey, Head of GenAI, Adobe
  • Elouise Epstein, Partner, Kearney
  • Sarah Luisi, VP Group Strategic Sourcing & Operations America, LVMH
  • Tony Filippone, Chief Research Officer, HFS Research
  • Lauren Hymen, VP Strategy & Transformation, PepsiCo
  • Adam Brown, Global Director Procurement Technology Platform, Maersk
  • Mitchell Toomey, VP Sustainability & Responsible Care, American Chemistry Council
  • Stefanie Fink, Head of Global Digital Procurement, Kraft Heinz
  • Carlos Hernandez, Head of Procurement Excellence & Framework, Sanofi
  • Rosalia Snyder, Director Source-to-Pay, Microsoft

DPW New York is set to be a hub of inspiration and insight, with a broad range of figures sharing their knowledge and experiences with guests. After developing the concept of DPW in 2019, Founder Matthias Gutzmann’s event has grown into something that entices procurement professionals from all over the world. 2024 saw the DPW team putting on an intimate, invite-only New York event. This year, DPW is scaling up – and we at CPOstrategy to be there on the ground floor.

Join us at the 2025 event by buying your tickets here.

Author

Anish Kapoor

Published

4 April 2025

Estimated Read time

5Mins

AccessPay CEO Anish Kapoor examines the positive impact of DORA on the digital payments industry

The EU’s Digital Operational Resilience Act (DORA) is a positive step for the payments industry and will help boost the resilience of an ecosystem that has changed radically over the last twenty years. Even so, the implications of this landmark regulation for payment service providers (PSPs) are complex and far-reaching. It will require investment in processes and infrastructure, which must also factor in the ongoing shift to real-time payments.

The technology backstory

Two decades ago, payment technology predominantly referred to back-end systems used by banks and PSPs to process electronic transactions. Online banking was still in its infancy, the smartphone hadn’t yet been launched, and traditional payment methods such as cash and cheques were much more prevalent.  

Today, it is a very different story. The number of electronic payments made via cards and digital wallets, credit transfers and direct debits has exploded. Technology is front and centre in payment service delivery, as individuals and businesses use online portals and mobile apps to manage accounts and initiate payments. While the rise of real-time payments, such as the EU’s SEPA Instant Credit Transfer (SCT Inst), means an increasing proportion of bank transfers are settled instantly rather than over several working days, which also means that anti-fraud measures and other compliance checks have to take place in real-time given the heightened fraud risk.

So, if there is a technological failure at any point in this new world of payments, it can have immediate and considerable ramifications for individuals and businesses. The now-infamous CrowdStrike outage in July 2024 affected several sectors, including banking, with some PSPs unable to process payments. More recently, an hours-long glitch at Bank of Ireland in December 2024 caused delays in processing payroll transactions for some employers, while a two-day outage at Barclays in February 2025  left customers unable to make bank transfers and use their debit cards. To catch up, Barclays had to process payments over the weekend and extend call centre operating hours.  

DORA’s goals

DORA aims to make the EU’s financial institutions (FIs) more resilient to information and communication technology (ICT) risks. It will minimise the potential for IT outages and require FIs to be back online as quickly as possible when they do occur. From a practical perspective, it will oblige them to create and implement ICT risk management frameworks. And meet new requirements for resilience testing, outage reporting, and information sharing.

Of course, the advent of DORA adds to the compliance burden for FIs, who will partly be spurred to comply to avoid fines for non-compliance and the associated negative press. Still, its rollout should be seen as positive for the industry. It should help to improve resilience across the ecosystem and boost customer confidence in the sector.

Improving infrastructure resilience with DORA

One angle that is less widely discussed when it comes to DORA is its implications for a PSP’s infrastructure. Whether developed in-house or outsourced, payment systems will need to have the capacity to accommodate peak loads following any outage. This will require PSPs to scale by multiples of their standard throughput.

For example, if a PSP’s average processing volume is 1,000 transactions per hour and its systems are down for three hours, it will need to have the capacity to process those 3,000 outstanding transactions once service resumes. And without impacting new transactions coming through the system. Additionally, if they are real-time payments, the delayed transactions must be settled as soon as possible. In this hypothetical example, such an outage would mean the system needs to handle 4,000 transactions in one hour, four times its usual capacity.

This requirement to recover quickly from IT outages will necessitate additional investment in infrastructure and automation. Especially given the move towards real-time settlement. In particular, it will likely drive interest in cloud-native technology, which can scale more readily on demand.

Third-party vendor relationships

DORA will also significantly impact how PSPs manage third-party IT vendor relationships. This development has been driven by the growing complexity of the financial ecosystem in the wake of digitisation and the rise of open banking. Research from McKinsey Digital highlights how the growth in the number of apps and vendors has increased the complexity and pressure on IT leaders.  

Under DORA, FIs are expected to monitor third-party providers, update supplier contracts to cover IT resilience, and establish an oversight framework for critical third-party providers. Consequently, conducting due diligence on third-party providers, particularly new vendors, and their approach to resilience is essential. Generally, we are likely to witness a flight to quality, with the providers that invest in controls and resilience set to fare best in the long term.

Adjusting to DORA

The arrival of DORA is a positive development for the payments industry. The sector has changed significantly in recent decades and relies heavily on technology for service delivery. Likewise, its customers depend on the PSPs to deliver their services so that they can conduct their business uninterrupted. However, the changes required by DORA are extensive and will require PSPs to invest in their infrastructure, processes and third-party relationships. As they adjust to the requirements of DORA, PSPs should ensure that infrastructure is resilient and flexible enough to handle surges in transaction flows. And factor in the shift to real-time settlement, which will only add to the demands made of payment systems.

  • Cybersecurity in FinTech
  • Digital Payments

Author

Guy Marion

Published

20 March 2025

Estimated Read time

4Mins

Guy Marion, CMO at Chargebee, on how businesses can get ahead of the ‘click-to-cancel’ movement through customer-centricity

The promise of predictable revenue now comes with heightened customer expectations. As regulators worldwide push for ‘click-to-cancel’ requirements for subscriptions, businesses face a critical choice. Do they wait for regulations to force changes, or transform cancellation friction into an opportunity for deeper customer trust? For revenue leaders, the question isn’t just about compliance – it’s about turning a potential disruption into a competitive advantage.

In the US, the Federal Trade Commission’s (FTC) new rule will require businesses to simplify cancellations and obtain consent for monthly renewals and the conversion of free trials to paid memberships. Similar measures are already in place in France, where self-serve cancellation buttons became mandatory in 2023. The UK’s 2024 Digital Markets, Competition and Consumers Act echoes this trend and serves as a prelude to anticipated further regulations.

As regulations evolve in 2025, subscription businesses that proactively embrace customer-friendly cancellation policies will have a competitive advantage in the market.

Customers value control with ‘click-to-cancel’

Research by Chargebee reveals that ‘click-to-cancel’ options are by far the preferred offboarding method for customers. Standing in stark contrast with complicated cancellation processes that can alienate customers and jeopardise return business. Customers are pushing back against the unclear terms of ‘negative option’ subscription models. These automatically renew memberships unless explicitly cancelled. Transitioning to transparent subscription models pre-empts regulatory penalties and serves to differentiate businesses as customer-centric.

Businesses need to adapt their strategies around cancellations by embedding the process into the product experience and prioritising it as an opportunity for dialogue with the customer. Feeling forced to maintain an unwanted subscription is not the ticket to brand loyalty or advocacy. When the cancel intent is clear it’s best to let customers leave.


Leaving is learning

Providing an easy exit doesn’t have to conclude the customer journey, but can instead provide an opportunity for future engagement. Subscription businesses should view every cancellation as a diagnostic tool for what went wrong. If a customer leaves, it’s usually because their perceived value of your product fell short of the cost. Maybe they’re right, and the product could be improved. In which case, you have valuable data to enhance your offering. Alternatively, perhaps they just weren’t presented with a clear enough value proposition, which if identified, gives you the chance to enlighten them.

If the customer sees value but has budget constraints, offering discretionary reductions empowers them to choose to continue their membership. Therefore, identifying why customers want to leave can provide the intelligence needed to drive long-term loyalty. Even turning once-hesitant customers into brand advocates.

For instance, a subscription fitness app might discover that seasonal habits influence customer retention, enabling it to adjust the timing of specific content to better align with trends. Proactive communication is key, as it helps reveal the ‘why’ behind churn. Offering exit surveys, personalised retention offers, or pausing memberships instead of outright cancellations maintains a dialogue with the customer, and may even persuade them to stay.


Making friends with machine learning

AI-powered analytics are transforming how businesses understand and prevent subscription cancellations. By analysing customer behaviour patterns, companies can now identify early warning signs of churn and address issues before customers reach for the cancel button. This proactive approach doesn’t just comply with click-to-cancel regulations – it helps businesses build stronger customer relationships through data-driven insights and timely interventions.

Leveraging the predictive power of AI-enabled platforms will be key to supporting customer retention. Businesses can identify patterns of usage across individuals and demographics, spotting trends and addressing them accordingly. This can be targeted interventions, such as discounts, or reiterating the value proposition in tutorials and new product features.

Evolve your payment system to reduce churn

When it comes to fighting cancellations with a good customer experience, billing and payment processes need special attention. Many customers cite billing frustrations, such as unexpected charges and convoluted payment methods, as reasons for ending their memberships. Investing in advanced subscription management tools that prioritise flexibility, transparency, and personalisation is helpful to mitigate cancellation intent before it crystallises.

Actionable insights businesses should implement: 

  • Adaptable pricing strategies: Customisable plans that cater to different customer needs and budgets help increase value perception.
  • Automated revenue recovery: Automatically recovering failed payments – such as those inadvertently caused by expired payment methods – prevents revenue loss and removes potential friction with customers.
  • Grace period and reminder: Allowing a brief buffer for overdue payments, paired with well-timed reminders, helps retain customers who may otherwise churn.
  • Data-driven insights: Levelling up your analytics capabilities helps identify patterns of disengagement, enabling you to act before cancellation occurs.

Foundations for the Future

The adoption of ‘click-to-cancel’ rules reflect a broader trend toward customer empowerment. Businesses that resist this shift not only risk their brand image but also forgo the opportunity to deliver better customer experiences. Ultimately, it is only a matter of time before regulations tighten and going willingly is always preferable to being pushed. Staying a step ahead means organisations can plan and implement changes smoothly – and position themselves positively. Subscription businesses that heed the warnings now and build positive cancellation experiences will reap the rewards of strengthened customer retention, in 2025 and beyond.

  • Digital Payments

Author

Dan Brightmore

Published

25 February 2025

Estimated Read time

5Mins

Brendan Thorpe, Customer Success Manager at Auriga, on how banks can gain valuable insights from ATM data

Everyday customer interactions with ATMs or ASSTs to withdraw cash or check their account means these touchpoints emit hundreds of thousands of data points per day. This data holds the answers to how customers interact with those end points and how they are performing. However, currently this data is not being fully analysed or harnessed at all.

Data Analytics

This is surprising when you consider how better data analytics is widely understood to be crucial to enable banks to stay ahead of the competition. Indeed, one major study found that nearly half (48 percent) of banking executives globally agreed on this. However, many do little with it. The data which is harvested from the self-service banking network, including ATMs and ASSTs, is a critical way for banks to lower their operational costs. At the same time it can improve their offerings and increase their bottom line.

Real-time data collection and analysis is more than just critical for managing operational costs. It also plays a significant role in how banks realise their omnichannel ambitions to improve customer engagement and experience. For this to be successful, banks must leverage tools which provide actionable insights into performance across a number of channels including in-person services, ATMs, online and apps. The insights which are collected on these channels provide a complete and integrated picture of banking performance across all touchpoints.

Actionable Insights from Data

No matter how a customer interacts with the bank, every touchpoint provides large amounts of data which can be collected, sorted, and analysed for actionable insights. However, taking this information from raw data and transforming it into valuable insights is a challenge for many financial services organisations.

To do this, it involves strong data management and analytics processes and end-to-end mapping of all self-service banking channels, in-person and online. Real-time insights are also key to understanding how the network is performing and how customers are interacting with the endpoints. Importantly, this information must be easily accessed throughout the organisation. Doing this will enable the bank to identify if there are any inefficiencies or issues throughout the network which can be fixed swiftly, with minimal disruption to services.

Significantly, with real-time monitoring, banks can see any attacks on their services or endpoints from threat actors. The sensors are not only on the ATM. Those around the machines will be able to collect any interactions with the endpoints and in the surrounding area. For the most part, the sensors will pick up harmless interactions, but other times this may be an indicator that a threat actor was trying to take money out of the machine. As such, collecting, sorting, and analysing real-time data from the sensors can protect the bank and their customers and mitigate any harmful threats.

Furthermore, predictive analytics and continuous monitoring will enable banks to forecast the future performance of each touchpoint. Banks are able to apply specific parameters. Depending on their current business objectives they can better understand how each service channel is forecasted to perform in a specific situation.

How advanced analytics is transforming banking

As budgets tighten with rising costs, banks need to approach their ATM networks in a smarter way to optimise cash management and data forecasting. Real-time data tracking gives banks a greater understanding into customer behaviour. This is key to service performance improvements, including knowing in real time whether the ATM self-service interface is working or not. However, banks must get their data right, before they lean on the insights.

From real-time monitoring of customer interactions, financial services institutions can collect data based on the transaction flow, which can indicate if there is a better way for customers to complete their transaction. This will allow banks to see where network inefficiencies lie and then drive a culture of continuous improvement. The ATM is a vital touchpoint for a full omnichannel service, so banks leveraging data in the right way will ensure that the endpoint and the network are more user friendly.

Moreover, real-time tracking will also enable banks to predict when cash cartridges need to be replenished. As such, this will ensure there is enough cash in the machines for customers, and be able to better forecast how much cash the endpoint will need. This creates efficiencies around how banks deliver cash to the machines that need it. It reduces their Cash-In-Transit (CIT), security, interest and insurance costs.

Digital Transformation

To make sure that banks are making the most out of the data, they should leverage a dynamic, industry-specific banking business analytics platform. This should be available to all in the business and be able to seamlessly integrate into their current systems. The platform must collect and analyse the data in real-time from all key touchpoints in a bank’s network. Importantly, this data should be converted into usable insights for customer behaviour and performance metrics for the ATM. This will enable banks to adapt their offerings to changes in customer needs and market conditions. This will place banks on the front foot so they can focus investment in the up-and-coming areas.

The banking industry shows no signs of slowing down when it comes to digital transformation and development. The key here is to understand how all service channels, in-person and online, are performing to ensure customer demands are met. The way to do this is through leveraging real-time insights and data analytics. Financial services organisations must transform their approach to self-service banking strategies as data analytics is not only a driver of competitiveness, but also of long-term success.

Learn more at https://www.aurigaspa.com/en/

  • Neobanking

Author

Dan Brightmore

Published

27 January 2025

Estimated Read time

2Mins

ClearBank, the enabler of real-time clearing and embedded banking, recently announced its partnership with Airwallex. A leading global Digital Payments and…

ClearBank, the enabler of real-time clearing and embedded banking, recently announced its partnership with Airwallex. A leading global Digital Payments and financial platform for modern businesses. Through this collaboration, Airwallex will leverage ClearBank’s agency banking solution to enhance its UK offering with virtual business accounts, GBP collections, and Confirmation of Payee (CoP) functionality.

Partnering for Digital Payments with ClearBank

ClearBank has enabled the global FinTech to issue virtual accounts and IBANs under its own brand identity. This reinforces Airwallex’s robust financial platform, while also allowing the company to maintain seamless customer branding. Moreover, through the partnership, Airwallex will have access to UK payment schemes. These include Faster Payments, BACS, and CHAPS. Accelerating Airwallex’s strategic goal of helping businesses simplify their global Digital Payments and financial operations, unlock new opportunities, and grow without limits.

“Our priority is to provide businesses with fast, flexible and seamless financial services. ClearBank’s agency banking solution aligns perfectly with our vision, allowing us to enhance our product offering in the UK while maintaining our brand identity. The team’s deep understanding of our business needs and their speed of execution have been invaluable throughout the partnership development and integration process.”

Vivien Cheung, Head of Financial Partnerships – EMEA, Airwallex

The partnership is founded on the companies’ shared ambition to utilise innovative technology to bring streamlined financial services to more customers in new markets. Furthermore, it highlights a growing demand for innovative financial solutions that combine the flexibility of FinTech with the security of traditional banking. ClearBank’s cloud-based approach allows for efficient integration, enabling Airwallex to deliver the features and functionality businesses need to make Digital ayments faster and more cost-effective.

“We’re proud to partner with Airwallex as the business enters its next phase of growth. Our unique combination of innovation and security was essential in supporting the premium customer experience that Airwallex is looking to provide. We look forward to deepening our relationship with Airwallex as we explore further opportunities for collaboration.”

John Salter, Chief Customer Officer, ClearBank

About Airwallex 

Airwallex is a leading global financial platform for modern businesses, offering trusted solutions to manage everything from Digital Payments, treasury, and spend management to embedded finance. With our proprietary infrastructure, Airwallex takes the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders. Proudly founded in Melbourne, Airwallex supports over 100,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN and many more. For more information, visit http://www.airwallex.com

About ClearBank 

ClearBank is a purpose-built, technology-enabled clearing bank. Through its banking licence and intelligent, robust technology solutions, ClearBank enables its partners to offer real-time payment and innovative banking services to their customers. For more information, visit www.clear.bank

  • Digital Payments

Author

Dan Brightmore

Published

21 January 2025

Estimated Read time

2Mins

Plumery, a digital banking experience platform for customer-centric banking, today announced it has launched Digital Lending. The fully end-to-end digital…

Plumery, a digital banking experience platform for customer-centric banking, today announced it has launched Digital Lending. The fully end-to-end digital loan origination journey allows bank customers to go from application to disbursement in 180 seconds.

Digital Lending

Plumery Digital Lending offers market-leading speed with banks, digital lenders and other financial institutions who are able to launch their new lending products in as little as 18 weeks. Moreover, allowing firms to triple their loan portfolio and capacity while maintaining the same staffing levels.

Many financial institutions are still unable to offer a fully digital loan origination process to customers. This forces them to partially complete a process online before finalising with human intervention. Yet, firms need to move quickly to stay competitive in today’s fast-paced world and benefit from the highest interest rates in a decade. 

Transforming the loan process

“By transforming the loan origination process into a fully digital experience, banks and other financial institutions can meet the demand for seamless and efficient customer journeys. Firms can configure every aspect of the process, safe in the knowledge they are on top of bank-grade security and infrastructure.”

Ben Goldin, Founder and CEO of Plumery

Digital Lending includes:

  • Digital application through web and mobile interfaces
  • Secure capture and storage of customer information
  • Streamlined, compliant onboarding experience
  • Automated application processing and data collection
  • Integration with external data sources for accurate scoring and vindication
  • AI/machine learning driven credit decisioning with customisable rules
  • Digital document generation and e-signatures
  • Loan disbursement and integration with core banking or loan management systems

With customer journeys built on the Plumery platform, firms can align with their unique workflows or adapt to changing regulatory requirements – and continue making rapid improvements from there. Plumery offers tools which both developers and business users can employ to make final adjustments, ensuring fast and affordable automation.

About Plumery

Headquartered in the Netherlands, Plumery’s mission is to empower financial institutions worldwide, regardless of size, to craft distinctive, contemporary, and customer-centric mobile and web experiences.

Plumery operates with a diverse team that embodies a unique combination of seasoned expertise and vibrant innovation. This blend has been cultivated through years of experience at start-ups, scale-ups, and established financial institutions, and most notably at globally leading financial technology companies, where they were instrumental in creating disruptive digital banking solutions and platforms that now serve 300+ banks globally. 

Plumery’s Digital Success Fabric platform provides banks with the foundation for success beyond fast-time-to-market by expediting the development of their digital front ends while significantly cutting costs compared to in-house initiatives or solutions with high total cost of ownership (TCO).  

  • Neobanking

Author

Ben Goldin

Published

15 January 2025

Estimated Read time

5Mins

Ben Goldin, Founder & CEO of Plumery, on how Digital Banking innovations are reshaping the financial landscape, creating a greener future and new opportunities for millions

Digital banking is making waves in emerging markets, evolving beyond simple transactions to deliver rapid access to credit, broaden economic inclusion, and support sustainable solutions. As smartphone adoption rises and AI reshapes lending processes, digital banking is significantly expanding in underbanked regions, enhancing financial inclusion for people and businesses while minimising environmental impact.

According to McKinsey, several trends have accelerated this Neobanking evolution in emerging markets. The pandemic drove a shift from cash to contactless and digital payments. E-commerce grew significantly – global transaction volumes increased by 25% from 2019 to 2020 and are expected to continue growing at 12-15% annually. Governments introduced cashless payment systems like Wave in Côte d’Ivoire, UPI in India, and Pix in Brazil to enhance interoperability and improve aid distribution. Furthermore, investor interest surged, with payments-focused fintechs receiving nearly 40% of the $5.2 billion in tech startup capital in Africa in 2021.

Together, these factors have fuelled innovation in digital finance. This has helped meet rising demand and enabled AI-driven, mobile-first platforms to deliver fast access to capital, fostering financial empowerment in underserved communities.

Additionally, smartphone penetration is set to reach 88% in Sub-Saharan Africa by 2030. Setting the stage for even greater financial inclusion. Combined with a growing focus on sustainability, digital banking in these regions is positioned to offer services that are both inclusive and environmentally conscious. Here’s a look at how digital banking is breaking down barriers, expanding financial empowerment, and building a greener future across emerging markets.

The evolution from basic transactions to fully-fledged Digital Banking

Digital banking initially gained traction by providing essential services like balance checks, peer-to-peer (P2P) transfers, and bill payments. This bridged gaps left by limited banking infrastructure. However, with evolving needs, digital banks and fintech companies now offer advanced products such as digital lending. This is among the most transformative aspects of digital banking in emerging markets.

Traditional access to credit was often challenging due to strict requirements, physical infrastructure, and extensive documentation. Digital lending platforms eliminate these barriers, enabling users to apply for loans directly through mobile devices, often receiving decisions within minutes.

AI-driven credit assessment models leverage alternative data points like mobile usage, purchase history, and digital wallet activity. This allows customers to secure funds without a formal credit record. Quick access to capital can be a lifeline for small business owners. Allowing them to act on opportunities as they arise. Digital lending thus meets immediate financial needs and supports broader economic growth by empowering local businesses.

Banking on a sustainable tomorrow

As digital banking expands, the need for environmentally sustainable operations becomes critical. The infrastructure supporting digital banking requires significant energy, especially as usage grows. To address this, financial institutions in emerging markets are adopting cloud-based platforms and energy-efficient data centres, reducing resource consumption while scaling services.

Cloud-based solutions are not only more scalable but also more energy-efficient, enabling banks to expand their reach responsibly. Automated processes further enhance energy efficiency, allowing Neobanking providers to serve more customers while minimising their environmental impact. This focus on sustainability aligns with broader goals of economic development and environmental stewardship, especially in regions vulnerable to climate change. For instance, Nubank in Brazil has achieved significant milestones by focusing on digital-only services, reducing the need for physical branches and their associated environmental impact.

Bridging gaps and expanding reach

Financial inclusion remains at the heart of digital banking’s impact in emerging markets. Digital platforms provide an entry into the formal financial system for millions. This allows them to save, invest, and plan for their futures. For small businesses, mobile applications and digital wallets offer essential tools for growth, empowering them to compete and contribute to local economies.

Digital platforms are also helping bridge the documentation gap by offering digital identity verification. This allows individuals without formal identification to open accounts and access financial services. Moreover, this approach is critical in regions where many people lack traditional IDs, which has historically excluded them from banking. By incorporating digital identification and security measures, financial institutions extend their reach, supporting resilience and inclusion.

Pioneering financial access through Digital Banking innovation

Emerging technologies like Blockchain, AI, and Biometrics are another factor in redefining digital banking in emerging markets. Blockchain provides a secure and transparent transaction method, which is particularly valuable in regions with less stable financial systems. AI enables credit assessment using alternative data, while biometrics and electronic Know Your Customer (e-KYC) simplify account creation. This makes it easier for individuals in remote areas to access financial services without physical documentation.

These technologies not only broaden financial access but also ensure that digital banking systems are efficient, secure, and scalable. By integrating these advanced tools, banks and fintech companies can provide reliable services to underserved populations, raising the standard for accessibility and security. An example of this in action is Moniepoint, a Nigeria-based FinTech. It has secured significant funding to enhance digital payments and banking solutions across Africa. By applying advanced technologies it reaches many who still lack access to banking services.

The future: Empowerment, Inclusion, and Sustainability

The future of digital banking in emerging markets holds great potential. With rising smartphone and internet connectivity, even remote areas gain access to financial services, breaking down traditional barriers to inclusion. This evolution goes beyond technology, creating pathways for financial empowerment and economic resilience.

A new generation of digital banking solutions is enabling financial institutions to extend their reach into emerging markets with a comprehensive range of services. From account management to lending. Designed with flexibility in mind, these platforms support customisation, allowing banks to tailor services to local needs through open APIs and modular infrastructure. By embracing sustainable practices and sustainable technology, these solutions not only broaden financial access but also foster growth in underserved regions in an environmentally responsible manner.

  • Neobanking

Author

Nell Walker

Published

14 November 2024

Estimated Read time

7Mins

“I’m overwhelmed,” are Matthias Gutzmann’s first words when asked about DPW Amsterdam 2024. At the end of the bustling two-day…

“I’m overwhelmed,” are Matthias Gutzmann’s first words when asked about DPW Amsterdam 2024. At the end of the bustling two-day event, we sat down with Gutzmann, the company’s founder, and Herman Knevel, DPW’s CEO, for a debrief. Gutzmann also quite rightly pointed out that the final word on summarising those 48 hours is in the hands of the sponsors and attendees, but if the countless conversations we had with said sponsors and attendees are anything to go by, it was the best DPW event yet. And Gutzmann and Knevel agree.

“I really think that’s the case,” says Gutzmann. “We almost doubled the number of exhibiting startups, we had over 120 sponsors, more startup pitches than ever, and all the feedback I’ve heard so far has been amazing. There are always things you can do better, but I’m absolutely happy.”

Across the 9th and 10th of October, DPW Amsterdam welcomed over 1,300 attendees through its doors at Beurs van Berlage, Amsterdam. Those attendees arrived from 44 countries across 32 industries, and the event itself featured 72 sessions with 140 speakers across five stages. It’s abundantly clear that people are deeply passionate about DPW.

“On day one, it was already packed at 8:30 in the morning,” Knevel states. “The energy in the room was contagious, and the numbers speak for themselves. The startups, the innovators, the corporates, the mid-market – everybody who’s here has a genuine interest in what these guys are bringing to the procurement space.”

Reconnecting with the vision

Gutzmann describes that intangible energy as “bringing a little bit of joy back to procurement”. For many years, procurement was a very ill-defined concept – almost as ill-defined as the role of CPO. The shift has been a quick one, accelerated further by the COVID-19 pandemic, and events like DPW Amsterdam are part of the reason why. CPOs having somewhere to go, to meet, to learn about the procurement landscape is vital, hence that inspiring energy that permeates every DPW event.

“A lot of people are missing that vibe,” Gutzmann continues. “It’s why I founded DPW. I was inspired by Mark Perera [Chairman of DPW], who I worked with at Vizibl, and had great technology while also being so inspiring. I realised we needed to connect founders with CPOs. I think every CPO should talk to one startup founder per week, at least. It’s important that we listen to their vision.”

Striving for 10X

The core of those visions for the 2024 event revolves around the concept of 10X, the idea being that you set targets for your business that are 10 times greater than what you think you can realistically achieve. It keeps people ambitious, always striving for greatness, and it’s especially prevalent in startup culture – hence Gutzmann’s belief that CPOs should be connecting with them more.

“Deciding on 10X for this year’s theme was serendipity,” says Knevel. “The term came along and Matthias said, ‘this is it – this is what we need in procurement’. This is what the industry needs, and we’re exploring it, diving deeper.”

“Last year’s theme was ‘Make Tech Work’, which was all about getting the basics right in order to scale,” Gutzmann continues. “This year we said, ‘how can we take it further?’ We are entering the biggest wave of AI yet. That technology is giving us the opportunity and the possibility to scale outcomes. The world around us is changing so fast, so we need to be more agile, scalable, and faster in procurement. It’s a very ambitious, maybe lofty theme, but it’s a mindset more than anything else.”

“It’s the mindset that drives innovation and speed,” Knevel adds. “That’s really important in this age of procuretech and supply chain tech.”

When it comes to honing that 10X mindset, it’s all about having a purpose in mind. A lot of the procurement professionals we spoke to at DPW Amsterdam called this a ‘north star’, which is the phase Gutzmann uses too. “That’s where it starts. There’s so much procurement can do. There are so many problems in the world, and I believe procurement can be the solution to many of those. So I think it starts with the CPO and their leadership, their vision. You also have to embrace startup innovation, be more experimental in the way you work, instigate new ways of working, and be bold in your thinking. You also have to remember it’s okay to fail.”

Growing DPW

Something that’s particularly impressive about DPW Amsterdam 2024 is that it’s actually the second of the year. Back in June, DPW ventured into the North American market with an intimate summit held in New York City, which CPOstrategy was fortunate enough to be invited to. Planning one wildly popular event a year is one thing, but venturing into a whole new part of the world with an additional one is incredibly dedicated.

“I’m a bit more conservative when planning ahead, so there probably wouldn’t be a New York event without Herman encouraging me,” says Gutzmann. “I’m glad he said ‘let’s go for it’. It was a short-term plan, but it was ultimately very successful and the right decision.”

Knevel adds: “The feedback we got from sponsors and delegates was quite impressive. They were asking for more. And it’s not just Matthias and myself – we have a great team here. This is a massive production, but we made the jump and it’s paid off.”

Inspiration for 2025

When it comes to the lessons Gutzmann and Knevel have learned in response to this event, it’s more about narrowing down the influx of ideas DPW gives them. By the time we spoke with them at the end of the Amsterdam 2024 event, their heads were spinning with inspiration.

“I have so many ideas,” says Gutzmann. “Every year we reinvent the show, so we never rest. We’re always asking what we can do better. How can we improve? I think this year we maxed out the number of sponsor stands that are possible to have. We doubled the number of under-30 attendees. There’s the potential to go a little deeper on the talent side, connecting students with the corporates and building a proper program around that.”

There was also the Tech Safari this year. The idea was to make the expo hall easier to navigate, since it was more crowded than ever this year. Members of the DPW team acted as ‘super connectors’ to help attendees find the right solutions and help startups find new customers. The aim was to simply make it easier for everyone involved to find what they’re looking for in small groups,enabling them to find who they wanted, talk to them, and ask questions. It turned out to be an amazing interactive experience for people, making sure they felt thoroughly looked after and valued.

“Plus there’s an opportunity to cater more to the corporates coming in,” Gutzmann continues. “Perhaps we will build a custom program for them around the event. Some of them are already coming in with teams and doing annual leadership meetings outside of the venue, but I think there’s scope to show them solutions and do some workshops within the event. We can also do more with day zero, where we have site events. There’s much more we can do.”

Giving CPOs what they want

As for the broader future of the event, DPW’s heart lies in Amsterdam and will continue to do so. The organisation is building its team even further and putting strategies in place for future events, allowing it to move forward. “We follow the demand of what our customers want,” Knevel says. That’s what really drives DPW and how the event is themed and set up. The organisation listens to CPOs so it can give them exactly what they need, and what will help the industry level up further and further. 

“There are things we’re still developing,” says Gutzmann. “For example, the podcast studio [something introduced in its current form for 2024] is something Herman is very passionate about, so it was great to test it out here. There’s more we can do with that. We have so many ideas and it’s important to engage our amazing team on these ideas and see what they think along the way.”

“We’re ideating a lot,” Knevel adds. “And we’re asking our ecosystem what we should do more of.”

“Ultimately, we’re bringing in the voice of the customer to make sure we’re giving them what they want and need,” Gutzmann concludes. “That’s the whole purpose of DPW.”

Author

Nell Walker

Published

Estimated Read time

6Mins

The buzz of DPW Amsterdam draws in the most innovative minds across the industry. They’re there to have riveting conversations…

The buzz of DPW Amsterdam draws in the most innovative minds across the industry. They’re there to have riveting conversations with their peers, to inspire, to teach and learn in kind. And they’re there to keep an eye on an industry that doesn’t stop changing for the better.

This is a big part of the appeal for Fraser Woodhouse. Woodhouse leads the digital procurement team within Deloitte in the UK. His team historically focused on large-scale transformations, providing a backbone for suite implementation. Increasingly, however, it’s turning its attention to helping clients navigate a plethora of technology solutions. The goal is to help them build and scale, and take advantage of some of the more niche functionalities available. These are things that can be highly daunting for many customers, which is why Deloitte is there for support.

“We’re helping clients ask the big questions,” Woodhouse explains as he sits down with us at DPW Amsterdam 2024. “How do you connect the technology in a way that allows data to flow from one system to another? How do you deal with processes that are connected to solutions which all have their own release cycles? How do you approach change management? That underpins so much of where the value is going to be achieved, and a lot of the providers will be focusing on it. They just might not have the same capability that Deloitte can provide.”

For Woodhouse, getting involved with procurement was a total accident. He even left the sector at one point, but his strong foundational knowledge – and the exciting landscape procurement is enjoying right now – lured him back in. “It changes faster than I can get bored with it, that’s for sure,” he explains. “Procurement is fascinating.”

Aspiring to greatness

Especially now, with constant conversations around genAI, 10X, and beyond. Procurement is only becoming more interesting, more enticing, drawing young professionals in to fill gaps in the talent pool. 10X was actually the theme of DPW Amsterdam this year, a notion that’s on everyone’s lips. And for Woodhouse, it’s absolutely something to aspire to.

“Aiming for 10X is sensible. You just have to consider your timescale. I’d caution against running before you can walk, but a culture of experimentation is important. Running small-scale pilots can help you hone in on where you really want to see value, or where value is likely to be generated. Starting with requirements is a fundamental thing at the moment, but you shouldn’t underestimate how long that will take. And it’s a continuous consideration, because requirements change. Just keep trying to refine your solution in order to take advantage of everything that’s out there right now.”

Fotograaf: MichielTon.com

Having the wrong mindset is one of the major barriers to adopting 10X thinking. It all starts with the company’s culture, and whether that’s one of growth or not. “I imagine most of the people here at DPW Amsterdam have already made that mental shift,” says Woodhouse. “Last year, people were still trying to understand how they, as big companies, could utilise startups. That’s changed now, and it’s amazing to see companies that were startups three years ago working with all these big enterprise customers. 

“They have scaled and grown in partnership with those customers. Mindset is so important, and having the wrong one will only create barriers and missed opportunities.”

Always improving, never slowing down

When it comes to the advantages that technology has brought to procurement in the last few years, the list is endless. Procurement has gone from an overlooked segment of any given organisation, to having a seat at the table and helping make major business decisions. 10X thinking – whether it goes by that name or not – has been spreading across the segment and fuelling businesses to aim higher.

“The layers of automation have really improved,” says Woodhouse. “A year or so back, there were a handful of use cases that you could truly automate, but now you can do it at a much larger scale. Another big change is around security concerns. There are more tried and tested case studies to draw upon now, and solutions are more readily available. You don’t necessarily have to be a pioneer, because someone else has already taken that first step.”

The question of data

Something else that holds businesses back, despite the innovation at their disposal, is an element that can be harder to change: poor quality data. When trying to implement advanced technology solutions, bad data can make or break their success.

“It’s always useful to focus on that and have a dedicated work stream,” Woodhouse advises. “You need someone who really understands data. I think there’s a tendency to try to boil the ocean before you even get going in your transformation, which isn’t necessarily a bad thing. Cleaning up your data before you start, and having a fresh foundation will help you make decisions on what to implement on top of that good data. 

“Doing all of that is obviously hugely beneficial, but it’s going to slow you down, in many cases. There are ways around that, like embedding the cleanup of data within the new processes. Data is important – we shouldn’t underestimate that – but there are different approaches to solving the issue of poor quality data, like buying it or using genAI to restructure your data into something more powerful. Either way, you need a strategy.”

Novel thinking 101

Some businesses fall into the trap of thinking that they can’t achieve specific things because their data isn’t in the right position, but novel thinking around data can allow them to still drive forward. “You’ve just got to focus on it. You can’t assume the data’s going to fix itself,” Woodhouse adds. 

Novel thinking is certainly something that can be seen at DPW events, and DPW Amsterdam 2024 was no exception. People congregated there to learn, to share stories, to inspire. For Woodhouse, the magic of the digital procurement sector right now is that everybody recognises that their journey has no end. While that may be daunting, it’s a positive thing and keeps procurement professionals striving for more.

“It’s a continuous improvement journey, and I think the best-performing organisations will recognise that, and invest in the business capability to continue that journey,” Woodhouse concludes. “That’s how you get proper value. I love hearing about how people frame problems differently, and how they approach the solutions.”

Author

Berkley Egenes

Published

7 October 2024

Estimated Read time

4Mins

Berkley Egenes, Chief Marketing & Growth Officer at Xsolla, on the legislation changing financial services

The European Union’s Digital Market Act has sent tremors through digital payments. The legislation is designed to stop Big Tech’s monopoly over vital online services, from search engines to messaging apps. But beneath the surface, one of the most fascinating battlegrounds is how the Digital Markets Act will impact the lucrative world of digital payments. A space long dominated by a few influential players. This will affect how industries, including the video game industry, monetise these services.

Big tech’s digital tollbooth

For years, the platform owners have controlled much of the infrastructure around digital payments. Major platforms have tightly controlled access, charging app developers and merchants fees for every transaction processed. Furthermore, they take hefty cuts from each purchase through their ecosystem. The impact of the Digital Markets Act may vary across different platforms. Some companies will need to adjust their models to fit the legislation. Others may push back or delay changes through legal and regulatory channels. 

The Digital Markets Act specifically targets a select group of ‘gatekeepers’, defined by their user base, revenue, and platform reach. Not every platform or company will be obligated to follow the Digital Markets Act’s rules. However, companies like Apple and Google, fall under the Digital Markets Act’s direct scope. The legislation now obliges these companies to open their platforms. This will allow smaller players and third-party services to operate without being strangled by eye-watering fees or exclusionary policies. 

The impact on monetisation with Digital Payments

The big question is how this will impact the business models of the gatekeepers and the developers who rely on these platforms. For years, the mobile platforms have depended on hefty commission fees. Often as high as 30%, these monetise digital payments within their ecosystems. These fees have been a central sticking point for developers, particularly video game studios, which sometimes generate billions in revenue through in-app purchases and microtransactions. 

Free-to-play mobile games specifically rely heavily on players making in-game purchases, from cosmetic skins to virtual currency. Under the current system, a significant chunk of that revenue is siphoned off by platform holders. They collect commissions on every transaction. This has forced game developers to either raise prices or accept slimmer margins while operating within the confines of strict payment policies. 

The Digital Markets Act is disrupting this current model. Game developers have been fighting the ability to direct players to alternative payment methods. They may now have the freedom and access to offer alternative ways to market and monetise their game while still having the player experience on the mobile phone. As a result, for the first time, consumers may be able to choose alternative payment processors. This potentially reduces costs for players and developers alike. 

For video game developers, particularly indie studios, the Digital Markets Act could represent a long-awaited relief from the large hold of app store economies. Developers can now distribute, market and sell their digital items and bundle packs through their online web shop or mobile SDK. By exploring these alternative options, developers will be retaining more of the profit per transaction. They could invest in better content or offer custom promotions to players – a win for both creators and consumers in the gaming industry across Europe.

Don’t ignore the challenges

The Digital Markets Act ushers in a brave new world of competition and choice for consumers, but it’s not all plain sailing. While the Digital Markets Act is designed to promote competition, the actual implementation of its provisions is still subject to regulatory developments and potential litigation. This means the full impact of the Digital Markets Act could take time to materialise. Moving towards a more open payment system demands a mountain of technical tweaks and a watchful eye from regulators. The real headache will be getting all these different payment systems to talk to each other while keeping security watertight. 

Consumers also have to consider how they will adapt to these changes. While there are many benefits, changing habits takes work. The success of the Digital Markets Act will depend on effective communication, education, and transparency to ensure consumers are aware of the new options and their benefits.

A new era for Digital Payments?

While the Digital Markets Act promises greater choice and a more level playing field, the road ahead will be anything but smooth. While the Digital Markets Act’s potential to break down monopolistic practices is significant, its effects may not be felt immediately. Regulatory processes, litigation, and slow consumer adoption could mean the transition to a more open digital payments landscape occurs gradually over time. Gatekeepers have maintained a firm grip on payment infrastructure for years, charging high fees that have eaten into developers’ profits. But with the Digital Markets Act tearing down some of these walls, game studios may have the flexibility to finally bypass gatekeepers and offer cheaper in-game purchases, subscriptions, and services directly to consumers.

While the Digital Markets Act opens doors for smaller developers and alternative payment options, it also forces companies to rethink their monetisation strategies. This could potentially pass new costs onto consumers in other ways. What is clear is that the digital payments landscape is in flux. How the tech giants, game developers, and consumers adapt to this new reality will define the future of monetisation in the digital economy. The game is far from over, and the real winners have yet to be decided.

Berkley Egenes, Chief Marketing & Growth Officer, Xsolla

  • Digital Payments

Author

Tetyana Golovata

Published

17 September 2024

Estimated Read time

5Mins

Tetyana Golovata, Head of Regulatory Compliance at IFX Payments, on builidng compliance into business culture

Regulation plays a critical role in shaping the fintech landscape. From Consumer Duty and FCA annual risk reporting to APP fraud, the tectonic plates of the sector are shifting. Whether you consider these regulations as benefiting or hindering the industry, businesses are struggling to keep up. 

According to research by fraud prevention fintech Alloy, 93% of respondents said they found it challenging to meet compliance requirements. In a new study by Davies a third of financial leaders (36%) said their firms had been penalised for compliance breaches in the year to June. The FCA brings in its operational resilience rules in March 2025. So, it is more important than ever to ensure your company makes the grade on compliance. 

Learning lessons from history

Traditionally, FX has struggled with the challenge of reporting in an ever-developing sector. As regulatory raise the bar on compliance, responsible providers must help the industry navigate the changes and upcoming deadlines.

Fintechs and payments companies are entering uncharted waters. They face pressure to beat rivals by offering more innovative products. Regulators have struggled to keep up in the past. Gaps in legislation have allowed some opportunists to slip between the net, as seen in the collapse of FTX. Because of this, implementation and standardisation of the rules is necessary. This ensures innovation remains seen as a force for good, and to help identify and stamp out illegal activity.

Culture vs Business

Culture has become a prominent factor in regulatory news. We have seen cases of large fines and public censure relating to cultural issues. FCA COO Emily Shepperd observed in a speech to the finance industry, “Culture is what you do when no one is looking”.

Top-level commitment is crucial when it comes to organisational culture. Conduct and culture are closely intertwined. Culture is not merely a tick-box exercise. It is not defined by perks like snack bars or Friday pizzas. Rather, it should be demonstrated in every aspect of the organisation, including processes, people, counterparties, and third parties.

In recent years, regulatory focus has shifted from ethics to culture. Recognising its crucial role in building market reputation and ensuring compliance with rules and regulations. Furthermore, boosting client confidence, and retaining employees. The evolving regulatory landscape has significantly impacted e-money and payments firms. Moreover, regulations are strengthening each year. Each regulation carries elements of culture, as seen in:

  • Consumer duty: How do we treat our customers?
  • Operational resilience: How can we recover and prevent disruptions to our customers?
  • APP fraud: How do we protect our customers?

Culture Drivers

Key drivers of culture include implementing policies on remuneration, conflicts of interest, and whistleblowing. However, for it to become embedded it must touch employees at every level.

This is showcased by senior stakeholders and heads of departments facilitating close relationships with colleagues across a company’s Sales, Operations, Tech and Product teams to build a collaborative environment. 

Finance firms must recognise the trust bestowed on them by their customers and ensure the protection of their investments and data is paramount. Consumer Duty may have been a wake-up call for some companies, but progressive regulation must always be embraced and their requirements seen as a baseline rather than a hurdle.

Similarly, the strengthening of operational resilience rules and the upcoming APP fraud regulation in October are to be welcomed, increasing transparency for customers. 

Compliance vs Business 

Following regulatory laws is often viewed as a financial and resource drain, but without proper compliance, companies are vulnerable to situations where vast amounts of money can be lost quickly.

A case in point is the proposed reimbursal requirement for APP fraud, which will mean payment firms could face having to pay compensation of up to £415,000 per case.

Complying not only safeguards the client and their money, but also the business itself. About nine in ten (88%) financial services firms have reported an increased compliance cost over the past five years, according to research from SteelEye.  Embedding compliance earlier in business cultures can be beneficial in the long run, cutting the time and money needed to adapt to new regulations and preventing the stress of having to make wholesale changes rapidly. 

Building a cross-business compliance culture 

Compliance is a key principle at IFX Payments, and we strive to be a champion in this area. In response to these challenges, the business restructured, establishing dedicated risk and regulatory departments, along with an internal audit function. 

Regulatory compliance aims to support innovation by developing and using new tools, standards, and approaches to foster innovation and ensure product safety, efficacy, and quality. It has helped the firm to navigate the regulatory landscape while driving growth and maintaining high standards.

This organisational shift allowed each business line to own its own risk, with department partaking in tailored workshops designed to identify existing, new, and potential risk exposure. Shared responsibility for compliance is the only way to create a culture which values it. We see this as a great way for organisations to drive innovation while sticking to the rules. 

  • Digital Payments

Author

Dan Brightmore

Published

6 September 2024

Estimated Read time

4Mins

Digital banking offers increased convenience and accessibility. However, this growth also exposes banks to heightened cybersecurity risks. Protecting data and…

Digital banking offers increased convenience and accessibility. However, this growth also exposes banks to heightened cybersecurity risks. Protecting data and information is crucial to maintaining customer trust and preventing financial loss.

Cybercrime poses a significant threat to the digital banking industry. According to Cybercrime Magazine, cybercrime costs will increase by 15% over the next five years and reach $10.5 trillion by 2025. These attacks target sensitive information and funds, causing substantial damage to banks.

To mitigate these risks, banks must implement robust cybersecurity measures to safeguard digital systems and data.

1. Strong Authentication

The Payment Services Directive (PSD2) mandates strong customer authentication (SCA) to reduce fraud and enhance online payment security. This directive imposes specific requirements on market participants to meet new obligations. The European Banking Authority (EBA) developed regulatory technical standards (RTS) based on the Commission’s authority under PSD2. 

The RTS aims to protect consumers and create a level playing field within the evolving financial technology market. To achieve this, the RTS establishes security measures for payment service providers — including banks and other financial institutions — when processing payments or offering payment-related services. 

2. Encryption

Unencrypted data is a common cyber threat. Hackers can easily access this data type and give severe consequences for banks. According to Statista, the average cost of a data breach worldwide is $4.45 million dollars. However, data breaches not only cause substantial financial loss for recovery and ransom payments but also damage a bank’s reputation.

To prevent these issues, all digital banking data must be encrypted. This safeguards information and makes it difficult for cybercriminals to access even if stolen. Encryption transforms data into a coded format that requires a specific key to decipher. Only individuals with the correct key can view the original data. 

Encryption involves using an algorithm and a key to convert plain data into encrypted data. The original data can only be recovered by decrypting the ciphertext with the correct key.

3. Regular Cybersecurity Audit

A security audit is a thorough examination of an organisation’s IT infrastructure. This process verifies the effectiveness of security policies and procedures. Security audits assess how well an institution’s cybersecurity program operates. This includes reviewing policies, testing controls, and checking compliance with industry standards and regulations.

Banks and financial institutions face increasingly complex cyber threats. Regular security audits help identify vulnerabilities in systems. By discovering weaknesses, banks can strengthen defences with firewalls, antivirus, and antimalware software. A cybersecurity audit should be conducted by an independent expert to ensure objectivity.

4. Employee Training

The World Economic Forum reports that 95% of cyberattacks involve human error. This means hackers often exploit employee mistakes. They use tactics like phishing to deceive employees into revealing sensitive information. This can lead to data breaches and financial loss. For example, employees might click on malicious links, disclose confidential data, or leave devices unattended.

Therefore, bank employees must have training to recognize that cyberattacks are a constant threat. Moreover, the consequences of a breach can be severe for employees, customers, and the bank’s reputation. Cybercriminals operate in a lucrative industry, for that reason, it is imperative to equip employees with the knowledge to safeguard against these threats.

5. Incident Response Planning

An incident response plan is a formal document approved by bank leadership to guide the organisation before, during, and after a potential or confirmed security incident. The plan aims to reduce the impact of security events, limiting operational, financial, and reputational damage.

A successful incident response plan should be established before a security attack occurs and assigned to specific team members. IBM research shows companies with well-developed and tested response plans save an average of $2.66 million compared to those without such protocols. 

To create an effective incident response plan, banks can reference established frameworks. For specific incident handling steps, The National Institute of Standards and Technology’s SP-800-61 and SANS’s Incident Handlers Handbook provide detailed blueprints. Aligning the incident response plan with these resources ensures a focused and effective approach to managing cybersecurity incidents.

Importance of Cybersecurity Measures 

The increasing reliance on digital platforms exposes individuals and organisations to growing cybersecurity risks. Malicious actors exploit security weaknesses to steal personal information and compromise digital assets. Forbes reported a staggering increase in cyberattacks in 2023, impacting over 343 million people, with data breaches soaring by 72 percent from 2021 to 2023. These striking figures highlight the urgent need for state-of-the-art cybersecurity in digital banking.

  • Cybersecurity in FinTech

Author

Dan Brightmore

Published

8 August 2024

Estimated Read time

2Mins

Standard Chartered has joined a suite of other institutional investors in the Digital Transformation platform United Fintech United Fintech is…

Standard Chartered has joined a suite of other institutional investors in the Digital Transformation platform United Fintech

United Fintech is a London headquartered neutral Digital Transformation platform. It acquires and forms partnerships with fintech companies in the capital markets space. It is creating a fintech one-stop-shop to innovate with businesses. This is driven by collaboration with other cutting edge technology providers for the benefit of banks, hedge funds and asset managers.

Digital Transformation

The investment supports Standard Chartered’s ambitions to contribute to the advancement of digital transformation. Furthermore, these solutions work across capital markets, wholesale banking and wealth management, and the broader financial services arena.

As part of the investment Standard Chartered has been granted Board observer rights and subject to fulfilment of certain pre-conditions, will be offered a rotational Board seat. Additionally, this will enable it to share existing expertise and contribute to decisions around the platform’s strategic direction.

Stabdard Chartered

“We have been impressed by the growth in United Fintech’s portfolio of innovative, engineering-led technology companies. Standard Chartered share their vision for how technology can transform and disrupt market structure and infrastructure,” said Geoff Kot, Global Head, CIB Business Platforms & Partnerships at Standard Chartered. “We look forward to partnering with them as we continue on our journey of digital transformation.”

United Fintech

“The investment underscores Standard Chartered’s commitment to accelerate digital transformation. Also, it highlights their forward-thinking approach to collaborative innovation,” said Christian Frahm, CEO and Founder of United Fintech. “We are an Asia-focused multinational bank with an expansive footprint in Asia, Africa, Middle East, Europe and Americas. We are thrilled to have them complete our circle of global investors, joining Citi and BNP Paribas. They initially invested in February 2024, as well as Danske Bank, who followed in May.”

About United Fintech

Founded in 2020, United Fintech is an industry-neutral Digital Transformation Platform. Here, global financial institutions and cutting-edge technology providers come together to unleash their full potential and enable the future of finance.

“The financial services sector is a large part of any nation’s economy. Moreover, this sector to continue to thrive, we want to match the knowledge and expertise of our financial service providers with data-driven innovation to create an efficient symbiosis between customers, banks, and technology.”

  • Digital Payments

Author

Published

30 July 2024

Estimated Read time

3Mins

Digital payments enable access to financial services by underserved members of society at a time when the digital divide is widening.

The United Nations emphasises financial inclusion as a driver for economic development, including it as component eight of the Sustainable Development Goals for 2030. The World Bank defines financial inclusion as crucial economic development and social progress that ensures equal access to financial products and services. 

In recent years, accessibility to financial services has improved rapidly as financial technology has advanced. The 2022 World Bank report revealed that 71 percent of people in developing countries had access to a bank account in 2021, a 42 percent jump from a decade earlier. 

The key driver of this development in financial inclusion is the growth of digital payments, which surged during the COVID-19 pandemic, according to the CFA Institute. 

Role of digital payments 

Digital payment technologies, such as digital wallets, online mobile banking apps, and contactless transactions, contribute to the growth of financial inclusion. Compared to traditional methods, digital payments offer multiple benefits.

Reduced costs are one reason digital payments have become a significant cause of economic growth. They allow lower barriers to entry for underserved people. 

With more people having digital financial accounts, the underprivileged can receive wages, government benefits, or remittances more easily. 

Digital transactions provide a safer alternative to physical cash transactions. The digital records for each transaction help people manage their finances and increase transparency in businesses. They also help mitigate the risks of theft or fraudulent activities. 

Accessibility

Digital payment solutions significantly improve accessibility to financial services. They eliminate geographical barriers for people living in remote areas as long as there is internet access. 

Online platforms make it easier for people to conduct transactions, pay bills, and access credit and insurance services from anywhere. They also allow instant payments that happen in seconds without the need for third parties. 

The accessibility of digital payments extends to people with disabilities. Mobile banking apps often include features such as voice commands, screen readers, and accessible interfaces that cater to them. 

Case Studies

Many digital payment initiatives have successfully promoted financial inclusion in marginalised communities. 

One of them is India’s Jan Dhan-Asdhar-Mobile (JAM) Trinity initiative, which was launched in 2014. The Pradhan Mantri Jan Dhan Yojana programme aims to provide universal access to banking facilities with at least one basic banking account for every household. This programme promotes financial inclusion in rural areas by offering zero-balance accounts with debit cards.  

Meanwhile, the Aadhar programme introduces a biometric digital identity for Indian residents, simplifying access to financial services. Lastly, the Mobile Network programme focuses on growing mobile network infrastructure to facilitate digital payments. 

Challenges and Solutions 

Still, the challenges of achieving financial inclusion through digital payments persist. In 2022, 1.4 billion adults remained unbanked. Meanwhile, increased accessibility also comes with the consequence of more people becoming prone to potentially unscrupulous lending practices, especially since the underprivileged often lack sufficient financial knowledge to avoid such schemes. 

Thus, financial education is crucial so that more people can effectively protect their wealth. The government should initiate financial literacy programmes for the people. The programmes could also be conducted through online platforms to reach more communities. 

In addition, increasing security technology is also important to overcome the risk of fraudulent activities. AI technology might solve this problem, as it can efficiently detect suspicious patterns and mitigate fraud schemes. 

Future Outlook

Digital payments’ future role in driving financial inclusion will become more prominent as mobile and internet penetration increases. Governments should prioritise investment in telecommunications and internet infrastructure to reach their optimal potential. 

AI-powered solutions are expected to continue to develop and offer many ways to accelerate digital finance adoption. With the advancement of technology, security and customer experience will also improve. 

  • Digital Payments

Author

Dan Brightmore

Published

25 July 2024

Estimated Read time

6Mins

FinTech Strategy met with Merusha Naidu, Global Head of Partnerships at Paymentology, to discover more about the global issue processor.

Banks, digital banks and fintechs, around the world, trust Paymentology to issue and process all forms of cards and transactions, at scale. Paymentology offers a cloud-based platform, rich data, a global footprint and proven track record powering industry leaders and game-changers.

A global issuer processor with on the ground teams in 50+ countries across 14 time zones, Paymentology’s founders saw that the payments industry was stagnant and limited, in both capability and ambition.

In March 2021, Tutuka and Paymentology merged, resulting in a ‘payments and card processing powerhouse’. The merger combined the ultra-advanced, multi-cloud platform of Paymentology with the global reach and experience of Tutuka to revolutionise cloud-based processing globally. 

Tutuka was traditionally a financial services company, that provided payment processing technologies, software and services, and application programming interfaces (APIs) for e-commerce and digital transacting across countries in Africa, Latin America, Southeast Asia, and the Middle East, while Paymentology processed for legacy banks in Europe and the UK. The merger enabled banks and fintechs to integrate into a single API, go live and issue cards almost anywhere in the world.

At Money20/20 Europe, FinTech Strategy spoke with Global Head of Partnerships, Merusha Naidu, to find out more…

Tell us about the genesis of Paymentology?

“Paymentology is a global neo processor. We work with banks and fintechs to help them issue their own cards, whether prepaid, debit or credit, virtual or physical. The beauty of the platform is that it’s fully cloud native. So, we’re scalable. We’re focused on speed to market so when you are working with a fintech, or a digital bank, it’s all about two things. How do you innovate? And then how do you go live quickly? Those are two areas of the business that we really focus on. Not only is our tech state of the art, with everything built in the cloud, all of our infrastructure is also in the cloud, including things like our connection to schemes.

We were the very first issuer processor to connect to Visa Cloud Connect, via cloud endpoints in Europe. Being first in embracing modern practices, we ensure our processes are next-generation, thanks to our fully cloud-native and digital infrastructure.

What makes us different? We operate across UK, Europe, the Middle East, Africa, Latin America and Asia Pacific; we are truly global, operating across all five regions. One of the things that makes that possible is our tech. A customer can integrate with us once and then launch across five regions if they wanted to, or multi-market rollouts. We offer a huge ability to scale using integration. Our customers are able to replicate that digital first experience across every single jurisdiction. So, whether it’s Kenya and Dubai and then Saudi Arabia and Portugal, they can have the same experience across the world.”

Tell us about your role at Paymentology?

“I’ve been with Paymentology for 14 years. Prior to taking up my current role as Global Head of Partnerships, I was the Regional Head of Asia Pacific. So, when you look at partnerships, I was asked a question recently at a talk: ‘What would my message be to issuers across the industry?’ My message is that you can’t do it alone. If you want to create truly scalable, innovative solutions, you’ve got to work with partners and collaborate with the best in class. We know we are best in class when it comes to issuer processing, but we also create ecosystem partners that close the gap when it comes to creating really valuable payment ecosystems.

Whether it’s top core banking providers, leading cloud services, or premier card manufacturers, these are the partners we collaborate with. This allows us to confidently assure our customers that we work with the best, to deliver the best, across the entire value chain.”

Tell us about some of the successful partnerships Paymentology has been involved in…

“We were the first company to deliver flip card technology for our client Mox. Paymentology embedded its global processing capability into the platform, to enable Mox to launch its ground-breaking feature to ‘flip’ between debit and credit spending on the all-in-one Mox card. This allows you to have one physical card, one virtual card number, but in the background, we link it to two different accounts.

It gives the customer real flexibility around how they can spend, because if it’s everyday purchases, they can use their debit account or their prepaid account. If they have larger purchases, they can switch in the app and use their credit facility. So, it really gives customers flexibility and choice – two things at the heart of what we do.

“Cross-border payments for us is key. Meanwhile, everyone talks about being digital first. For us, tokenisation has helped and we have a superior partner, MeaWallet, to help us deliver this. Elsewhere, crypto has been seen as a sore point but it’s coming back and people again want that flexibility. So, having a way for customers to spend their crypto, converting crypto to free apps and making sure that data is at the heart of all that. It’s about learning about our customers, understanding what our customers want and using our data to make informed decisions, or giving our customers data so that they can make the decisions.”

And what’s next for Paymentology? What future launches and initiatives are you particularly excited about?

“We’re excited about being able to deliver flexibility, control, agility. Because the Paymentology platform is so agile, in the future you will be able to plug in even more different components into the offering. So, a customer can add in rewards and loyalty points. For example, airlines have a platinum MasterCard product, so it opens them up to all of the MasterCard loyalty rewards, airport lounges, all of those benefits. It’s all about being innovative and keeping up with that innovation and growing with customers.”

Why Money20/20? What is it about this particular event that makes it the perfect place to showcase what you do? How has the response been to Paymentology?

“Paymentology is headquartered in the UK so it’s important for us to make sure we’re representing business across Europe. This is the centre of the world for banking innovation. People look to this event to really learn about what’s happening in the industry globally and discover what trends are going to come up. What should we be doing? How can we innovate together and learn from each other? That’s one of the things I really love about Money20/20; the talks in all of the panels are so interesting and I always leave knowing more. Being in the payments industry, and especially being an issuer processor, it’s important for us to learn from the industry and understand where we need to move so that we can stay at the forefront of developments.”

Author

Dan Brightmore

Published

18 July 2024

Estimated Read time

3Mins

Episode Six (E6), a global provider of payment processing and digital ledger infrastructure, has announced that its cloud-based solution offering…

Episode Six (E6), a global provider of payment processing and digital ledger infrastructure, has announced that its cloud-based solution offering payments-as-a-service, is now available on the Amazon Web Services (AWS) Marketplace.   

Episode Six on AWS Marketplace

AWS Marketplace is a curated digital catalog, Customers can use it to find, buy, deploy, and manage third-party software, data, and services to build solutions and run their businesses. By listing the E6 solution on the AWS Marketplace, E6 is extending its technology offerings to a vast network of over 330,000 active AWS Marketplace customers. Furthermore, it provides them with a seamless way to find, purchase, and deploy its configurable card issuance and virtual accounts platform.  

E6, who have created and operate a globally distributed issuer processor and digital ledger infrastructure, will now be available in AWS Marketplace. E6 operates across 14 AWS availability zones including regions such as the United States, Europe, Singapore, Australia, Japan and Indonesia.  

AWS customers will be able to simplify how they engage third-party cloud-based technologies to modernise their payment technology, and build digital-first products while using existing AWS committed spend.  

 Cloud-native platform

E6’s cloud-native platform, TRITIUM®, provides a real-time ledger that can work with an organisation’s existing infrastructure. This empowers AWS clients to build and launch any modern card product, without constraints of legacy technology.   

Said Brian Muse-McKenney, Chief Revenue Officer at Episode Six said: “One of the biggest challenges our industry is facing right now is providing critical payment systems with high availability to prevent downtime, while simultaneously having the flexibility and power to quickly deploy feature-rich products. Our cloud-based solution offers AWS customers the assurance that there’s availability, scalability and extensibility, allowing us to enhance our clients’ services, without impacting their core banking systems.”  

In addition, AWS customers can now access advanced payment solutions more conveniently, through the AWS Marketplace. This will provide banks, technology companies and brands with greater cost efficiency, helping them stay competitive in their respective markets.  

Modernising digital payments

John Mitchell, CEO & Co-Founder at Episode Six, said: “At E6, we’re committed to working with customers to modernise their payment services. This listing is an important development in our partnership as it allows AWS customers the ability to find and deploy the E6 cloud solution seamlessly. The AWS Marketplace is another new channel we’re proud to open to offer customers access to our technology, and to allow them to leverage their AWS committed cloud spend more easily.”  

As an AWS ISV Accelerate Partner, E6 is actively co-selling with AWS, and driving accelerated sales cycles as part of connecting with the AWS Sales organisation to support leading FSIs and tech companies that are modernising their payments on AWS. 

   

  • Digital Payments

Author

Dan Brightmore

Published

11 July 2024

Estimated Read time

5Mins

Digital payments are now the preferred payment method for much of the world, and they continue to evolve.

They were first introduced through the creation of credit or debit cards. These physical cards allowed consumers to spend money without needing cash.

Advances in mobile technology led to online banking apps, mobile wallets, and contactless payments. These methods are even more convenient and are transformative for commerce, online and in physical outlets.

Throughout 2024, there are ten key trends expected to rise as digital payments evolve:

1. Rise of cryptocurrencies in everyday transactions

Cryptocurrencies, or crypto, are digital currencies maintained by a decentralised blockchain system rather than any government or institution. Owning a crypto means possessing assets that are not tangible, hence it is more popular as an investment currently.

Many platforms are gradually integrating crypto into their financial ecosystem. For example, PayPal — the online payment giant — allows users to buy, hold, and sell crypto.

Despite its volatility issues, crypto is predicted to keep growing. It offers fast transactions, easier cross-border payment, and lower transaction fees than traditional methods.

2. Biometric Authentication

The security concerns surrounding digital payments are unchanged, but the method for securing them is improving all the time. This has led to widespread growth in biometric authentication. Biometric authentication allows for more security and convenience than traditional passwords and PINs, which can be forgotten or stolen. It makes impersonation far more difficult.

Biometrics requires users to input unique physical characteristics like fingerprints or facial features (via a camera). Approved in an instant, consumers can make payments easily by verifying with the tap of a finger or by staying still for the camera.

3. Growth of Peer-to-Peer Payments

Peer-to-peer payment apps allow users to send money directly to another user using a mobile device. The convenience of this payment mode made it popular.

Among the most used apps are Zelle, Venmo, and Paypal. Zelle, for instance, gained $307 billion in transactions in 2020, 58% growth on the previous year, and part of a wider trend in digital payments growth during the Covid-19 lockdowns.

This method offers instant transactions advantageous for time-sensitive transactions like splitting bills or sending emergency funds. It also commonly has a low-cost or free transaction compared to traditional banking options.

4. AI fraud detection with digital payments

AI technology has greatly impacted many sectors, including digital payments. Fraud detection with AI is a solution that uses algorithms to analyse large transaction data. This AI tool can recognise suspicious patterns and identify discrepancies that indicate fraudulent activity.

Companies like Visa introduced AI fraud detection this year. The AI-powered security tools are included in the Visa Protect suite. The fraud detection tool, including digital wallets, can be used for immediate payments.

5. Real-time payments (RTP)

Real-time payments make immediate transactions between accounts significantly better than traditional banking systems, which might take days. This is a preferred option for both consumers and businesses.

Businesses can improve cash flow with faster payments, and consumers can access funds immediately. Currently, the RTP frameworks continue to be adopted by worldwide financial institutions. It is expected to be the standard for various transactions, including payroll and cross-border payments.

6. Voice-activated transactions

Voice-activated payment is an innovative method for users to do transactions simply using speaking commands. A payment system such as this can be more convenient for users than the common typing password method.

This form of authentication is possible through voice recognition tools used in mobile apps. Additionally, voice-activated payments offer a high level of security and a smoother consumer experience. As more companies adopt this trend, it is expected to become even more popular in 2024.

7. QR code payments

QR code payments uses a unique QR code that smartphones can scan to authorise transactions. It is usually connected to consumers’ mobile banking apps or mobile wallets as the source of payment.

This contactless payment offers a seamless payment experience that is highly desirable for users. Businesses also benefit from the simplicity of the method by making transactions faster and seamless.

8. Cross-border payments

Cross-border payments are expected to grow consistently as the world moves on from the restrictions of the COVID-19 pandemic. Also, more businesses are engaging in cross-border payments, and 80 percent expect a transaction volume increase in the next 12 to 24 months.

International payments often suffer from high fees and lengthy transaction times. However, companies are expected to improve their capabilities as cross-border payments increase.

9. Buy Now Pay Later (BNPL)

Buy Now Pay Later (BNPL) services are a more accessible of borrowing for payment than traditional methods like credit cards.

They allow consumers to make purchases and spread the cost over time. This method enables minimal or zero percent financing and no initial credit check.

Many e-commerce platforms have integrated these payment system as they become more popular. 

10. IoT devices integration for digital payments

Integrating Internet of Things (IoT) devices with mobile payments helps make the consumer experience more convenient. This innovation allows wearables and smart home appliances to make contactless payments.

Furthermore, IoT devices can also generate data that can be analysed to create a more personalised experience.

  • Digital Payments