AccessPay, the leading bank integration provider, has announced a new partnership with PayPoint. It will integrate PayPoint’s Confirmation of Payee (CoP) capability…
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AccessPay, the leading bank integration provider, has announced a new partnership with PayPoint. It will integrate PayPoint’s Confirmation of Payee (CoP) capability into AccessPay’s payments automation suite for modern finance teams. £258m was lost to authorised push payment (APP) fraud in the first half of 2025 alone. Organisations need access to robust payment controls that scale with their operations. PayPoint’s CoP offering enables AccessPay’s customers to verify payee account details as part of their payment workflows. Reinforcing AccessPay’s position at the centre of a growing ecosystem of technologies designed to automate and de-risk the Office of the CFO.
Fraud Prevention
CoP, also known as Account Name Verification (ANV), is a valuable anti-fraud measure. It checks the accuracy of payee details before funds are sent. It can be used to confirm payee details at the point of collection, when creating a payment instruction, or both. PayPoint’s CoP capability is designed to handle peak-usage scenarios for corporate clients, including payroll runs, supplier payments, and seasonal spikes. It is recognised for its ability to process exceptionally high transaction volumes. Additionally, it provides flexible access options, including APIs, user interface and bulk processing. This enables organisations at different stages of their automation journey to embed account name verification seamlessly into existing processes.
A Partnership Expanding a Tech Ecosystem
“Our customers want to automate high-volume, high-value payments with confidence, knowing robust safeguards are built directly into their processes. PayPoint is recognised for delivering payment and fraud services at a national scale. By partnering with them, we are strengthening the fraud and error protections available within the AccessPay platform. And improving operational efficiency by reducing payment resubmissions, exception handling and manual intervention. The service is already available to customers and has been positively received since we began working together in 2025.” Anish Kapoor, CEO of AccessPay
“AccessPay sits at the centre of modern finance operations. It securely connecting businesses to their banks and enabling automated payment flows at scale. Partnering with AccessPay allows us to extend our CoP capability to thousands of finance teams that are actively transforming how they manage payments. Together, we’re helping organisations reduce fraud risk, minimise payment errors, and deliver more secure, trusted payment experiences.” Jo Toolan, Managing Director Payments,PayPoint
The PayPoint partnership reinforces AccessPay’s commitment to expanding its technology ecosystem. To help finance and treasury teams automate securely, reduce manual intervention, and build resilient, future-ready payment operations. By combining AccessPay’s bank integration platform with PayPoint’s payment and fraud prevention expertise, organisations gain stronger protection against fraud. Also unlocking greater efficiency and confidence in automated finance processes.
About PayPoint
PayPoint is the UK’s leading multichannel payments and community services provider. It delivers innovative solutions that simplify and secure how customers and businesses transact. The core of our offering is MultiPay. A single payment platform that unifies Open Banking, card, Direct Debit, and over-the-counter cash payments into a streamlined solution.
Our Open Banking services are designed to deliver a frictionless and secure payment journey. From account-to-account payments to Confirmation of Payee (CoP), we empower companies with the tools to build trust and reduce fraud. All through a suite of easy-to-integrate APIs. These services can be integrated into your existing financial or customer management systems. Or accessed via our portal, white-labelled websites or mobile apps—providing flexibility to meet your needs.
As a proud Gold Partner of Open Banking Expo 2025 and winner of the Best Sector Initiative for our PayPoint OpenPay innovation at the Open Banking Expo Awards, we’re thrilled to return in 2026 to continue driving innovation and delivering value through Open Banking.
About AccessPay
AccessPay is a leading provider of bank integration solutions, pioneering finance transformation for the Office of the CFO. AccessPay helps finance and treasury teams modernise their operations through secure, cloud-based bank connectivity.
Our platform connects back-office systems to banks, enabling the automated flow and transformation of payment, bank statement and other financial data. Thousands of businesses around the world partner with AccessPay to automate supplier and client payments, Direct Debit collections, and bank statement retrieval. Improving efficiency, reducing fraud risk, and gaining real-time cash visibility.
Founded in 2012 and headquartered in Manchester, UK, AccessPay is trusted by global enterprises to automate finance and treasury operations and build a future-ready Office of the CFO.
Report reveals shift from experimentation to scale as AI and digital assets drive regional leadership
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Money20/20, the world’s leading FinTech show, has unveiled its annual Future of Fintech in APAC report. Money20/20 Asia takes place in Bangkok on April 21-23 at the Queen Sirikit National Convention Center (QSNCC). The whitepaper reveals that APAC’s FinTech ecosystem has reached a pivotal inflection point. The region is shifting from experimentation to scaled deployment. Across AI, digital payments, and digital assets, marking a decisive move toward production‑grade innovation.
The comprehensive report is based on surveys and interviews with more than 130 senior FinTech leaders across Asia. It reveals an industry moving beyond pilot programs toward enterprise-scale solutions. These prioritise collaboration, digital trust, and financial inclusion as core business imperatives for 2026.
Key FinTech Findings
Southeast Asia dominates expansion plans: 22.9% of respondents identify the region as their primary growth target. Despite a decline from 31.4% last year — underscoring its continued dominance as the region’s growth engine.
Financial inclusion becomes strategic priority: 90.6% of executives say social good initiatives are now embedded in corporate strategy. Confirming that impact has become a commercial imperative, not a CSR exercise.
AI adoption accelerates: 61.2% of organisations have already adopted AI or machine learning. Only 3.5% are yet to begin exploring it.
Regulatory momentum accelerates: New frameworks in Singapore, Hong Kong, and Japan are driving institutional adoption of stablecoins and tokenised assets
Cyber-resilience emerges as top operational concern: 63.5% of leaders cite fraud prevention as their highest operational priority.
“APAC is no longer experimenting, it’s executing. The region is building financial infrastructure that is faster, safer, and more inclusive than ever before. What happens here will influence the future of money globally.” Ian Fong, VP of Content at Money20/20 Asia.
Digital Trust Becomes the New Currency
As digital adoption accelerates, cyber-resilience has emerged as the region’s most urgent priority for 2026. 63.5% of leaders identifying fraud prevention as their top operational priority. Regulators and industry players are investing heavily in real-time risk intelligence and AI-driven security measures.
The speed of digital adoption in APAC has outpaced traditional fraud models,” said Justin Lie, Founder & CEO of SHIELD. “What we’re seeing now is a shift toward real-time, device-level intelligence that operates silently in the background. Trust is the new currency of digital finance. Furthermore, the companies that embed it in every interaction while delivering a frictionless experience will define the future of the industry.”
Stablecoins Move into Mainstream Financial Infrastructure
Institutional engagement with stablecoins and tokenised financial instruments has grown significantly over the past year. It is supported by clearer regulatory frameworks emerging across Singapore, Hong Kong, and Japan. Blockchain and DLT were ranked by 17.9% of respondents as the most impactful emerging technology after AI. These developments are enabling faster cross-border settlements, improved liquidity management, and new treasury optimisation strategies for enterprises.
“Across Asia, stablecoins are already embedded in real economic activity. From payments and cross-border settlements to treasury optimisation,” said Yam Ki Chan, Vice President, Asia Pacific at Circle. “The region is demonstrating how digital assets can scale within financial systems. And the next phase is about interoperability and the development of an economic operating system (OS) for the internet”.
Digital Lending Expands Financial Access
2.1 billion adults globally are still underbanked or unbanked. Thus, digital lenders across South and Southeast Asia are leveraging alternative data, mobile-first onboarding, and embedded finance to reach previously excluded communities. The report also highlights that 72.9% of respondents believe FinTech solutions tailored to SMEs are key to driving economic growth across APAC. Signalling a widening opportunity for inclusive financial innovation.
“Financial inclusion isn’t achieved by simply putting products online. It requires building for the realities of everyday consumers,” said Moritz Gastl, General Manager of Tala Philippines. “In markets like the Philippines, trust, transparency, and flexibility matter just as much as credit scoring. Digital lending works when it empowers people, not when it replicates old systems with new interfaces.”
Looking Ahead: Collaboration Will Define the Next Decade
Together, the findings of this report point to a region no longer just testing FinTech concepts. It is actively building production-grade financial infrastructure. As AI scales, payment rails interconnect, and digital assets enter regulated markets. APAC is emerging as a blueprint for how financial systems will be built and governed globally.
“The next wave of FinTech innovation will be defined by how well we balance technological advancement with social impact,” added Fong. “APAC markets are proving that financial innovation and inclusion can advance together.”
The Future of Fintech in APAC report can be downloaded HERE.
Hampshire Trust Bank (HTB) is using artificial intelligence (AI) to act faster on customer concerns. It is empowering its teams…
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Hampshire Trust Bank (HTB) is using artificial intelligence (AI) to act faster on customer concerns. It is empowering its teams to identify and respond quickly, whilst also meeting regulatory timeframes for handling complaints and supporting vulnerable customers.
Netcall: AI-Powered Sentiment
The specialist bank has worked with Netcall to deploy AI-powered sentiment analysis using Netcall’s Liberty Create platform. The solution reduces manual effort and improves operational efficiency by bringing customer emails from multiple mailboxes into a single interface. Incoming messages are automatically analysed to identify dissatisfaction, highlighting cases that may require faster intervention. This allows urgent cases to be prioritised, helping HTB to resolve issues before they escalate and improve the customer experience.
“Our AI-powered sentiment analysis solution rapidly processes vast amounts of email data. Its efficiency allows our team to focus on resolving customer enquiries and issues rather than sorting priorities. The streamlined process ensures swifter responses and better customer outcomes, upholding our reputation for exceptional customer service.” Ed Eames, Head of Customer Savings Operations at Hampshire Trust Bank.
The application was built by the Hampshire Trust Bank development team using Liberty Create. It worked closely with Netcall to integrate AI sentiment analysis into existing processes. Customer-facing teams were involved throughout to ensure the solution aligned with established workflows and regulatory requirements.
Customer Service Control
A key benefit of the approach is the level of control it gives internal teams. Keywords, sentiment thresholds, and classifications can be adjusted directly. This allows rapid refinement as customer behaviour changes or new regulatory considerations emerge, without waiting for development cycles.
“Liberty Create has enabled my development team to work with remarkable agility. The ability to rapidly create and refine applications to meet ever-evolving business needs has significantly enhanced our efficiency. This allows us to deliver a wealth of new features to end users and customers with speed. With the integration of AI, we’ve been able to advance our processes while ensuring exceptional customer service. Our Sentiment Analysis application launch is a prime example of this.” Trina Burnett, Head of Engineering at Hampshire Trust Bank.
The sentiment analysis system also supports automated and ad-hoc reporting. This provides a single source of insight into customer interactions and actions taken. This helps reduce manual effort, supports audit and compliance activity, and enables teams to continuously improve customer service operations.
“As scrutiny around customer experience and accountability increases across UK financial services, the ability to listen, adapt and respond at pace is becoming a defining capability for banks seeking to maintain trust and service standards,” said Alex Ballingall, Key Account Manager at Netcall.
“HTB’s approach shows how banks can use AI-driven insight practically. Turning customer communications into faster action without adding operational complexity,” Ballingall concluded.
About Netcall
Netcall is a leading provider of low-code and customer engagement solutions. A UK company quoted on the AIM market of the London Stock Exchange. By enabling customer-facing and IT talent to collaborate, Netcall takes the pain out of big change projects. It helps businesses dramatically improve the customer experience, while lowering costs. Over 600 organisations in financial services, insurance, local government and healthcare use the Netcall Liberty platform to make life easier for the people they serve. Netcall aims to help organisations radically improve customer experience through collaborative CX.
Jack Bingham, Regional Director of Digital Native UK, Ireland & South Africa, Confluent on how data, treated properly, compounds in value to drive digital disruption
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When I talk to founders and tech leaders, one question seems to consistently come up: what separates today’s disruptors from the last decade’s? In 2010, being cloud-first was what made investors sit up and take note. In 2026, it will be streaming-first.
I’ve spent the last year or so working closely with companies that are, quite literally, building their businesses in real time. For them, real-time capability isn’t a department or a layer that supports the business. It is the business. The acid test is simple: how quickly can you capture a critical event – a payment, a login, a failed delivery – and respond with the next best action? That focus shapes how they build products, structure teams, and think about innovation.
Here’s what I’ve learned from them:
Lesson 1: Data is a Product, Not a By-Product
Many traditional companies still treat data as something to collect, store, and analyse later. The new generation of businesses, on the other hand, treats it as a reusable, governed product that everyone can access. When it’s built and shared this way, teams stop rebuilding the same foundations for every new use case. They move faster because they’re working from a single, trusted view of the truth, shortening product cycles, speeding up iteration, and spending more time solving problems that matter.
That mindset, rather than the size of the tech stack or the number of engineers, is what sets disruptive businesses apart. In these organisations, technology, data, and business strategy move in lockstep. Decisions aren’t passed up and down hierarchies, they’re made by teams who understand both the data and the customer problem in front of them.
When you can trust your data and respond in real time, innovation stops being a department. It becomes a reflex.
Lesson 2: Real-Time isn’t a Feature, it’s a Foundation
A few years ago, one of the world’s largest supermarket chains realised it didn’t have a single real-time view of its inventory. Without that visibility, omnichannel experiences were impossible. Once it shifted to a streaming architecture, every transaction became a live event that updated stock, triggered supply chains, and even made it possible to get your groceries delivered straight to your kitchen fridge – coordinated through live inventory data, smart home devices, and real-time security feeds.
That’s the practical power of streaming: it connects what happens in your business to what should happen next so you can provide products and services that take customer satisfaction to a whole other level. Real-time data stops being a reporting tool and becomes the foundation of every decision, interaction, and innovation.
I often ask businesses what they would do differently, if they knew the state of every event in their organisation. The most forward-thinking companies already have the answer. They’re using streaming to turn business events into reusable building blocks, creating new experiences by connecting the data they already have in smarter ways.
Lesson 3: Culture is the Multiplier
Being streaming-first is only half about architecture. The other half is attitude. The best digital enterprises don’t wait for permission to experiment. They map their most important business events, align teams around them, and empower people at every level to react fast and learn faster.
And the difference is visible. Feedback loops are shorter. Structures are flatter. Failure is treated as information. This culture of continuous experimentation is why these companies can move at the pace they do.
We often run ‘Event Storming’ workshops with teams to map their critical business events. The idea is to create alignment – getting people from engineering, product, and operations to agree on what really matters and how those moments connect. That process reveals a lot.
Digital disruptors go beyond simply deploying streaming architectures. They build streaming mindsets. Leadership plays a crucial role here: data must be treated as a strategic asset. If it isn’t up top, it won’t be anywhere else in the organisation either.
Lesson 4: Streaming and AI will Converge
AI is only as good as the data you feed it. Unfortunately, most enterprises are still feeding it yesterday’s data. Streaming-first companies already know this. They’re building intelligent data pipelines that give AI the context it needs to make decisions in real time.
That’s how the next generation of innovators will pull ahead: not by having bigger models, but by having cleaner, faster, more connected data. Streaming is what will let AI move from reactive to predictive… and from predictive to autonomous.
Too many organisations are cutting investment in data while pouring money into AI projects. But AI without quality data is just expensive guesswork. The companies doing this well understand that data has to be a product in its own right. And when business and technology teams design around that shared understanding, innovation follows naturally.
Lesson 5: The Mindset of the Next Disruptors
If I were starting a company tomorrow, I’d look closely at the critical events that run my business. I’d then make sure I had a way to capture those in the stream, make them reusable, and build every product and process around them.
When your business can see and act on what’s happening in the moment, you gain something no traditional architecture can give you: time. And in the next wave of disruption, that’s the only advantage that really matters.
If we look to who we can learn from in the coming months, it’s financial services and healthcare that are moving the fastest. Real-time fraud detection, patient monitoring, and risk management are becoming operational necessities – and these industries will set the benchmark for real-time data excellence.
Looking Ahead to 2026
By 2026, I don’t think we’ll talk about ‘real-time’ as a differentiator. It will simply be how modern businesses operate. Batch systems won’t disappear, but they’ll coexist within a single, streaming-first platform that delivers data whenever it’s needed.
Once every process can react instantly, the question then becomes: can it anticipate? Can it learn? That’s where AI and streaming meet and where we move from reactive to autonomous enterprises that not only respond to the present but adapt to what’s coming next.
Data, treated properly, compounds in value. The decisions you make with it become faster, sharper, and more confident. The companies that understand this will be the ones still leading when today’s titans look like yesterday’s news.
Jonny Combe, President and Chief Executive Officer, PayByPhone on how urban mobility is evolving from car-centric to multimodal and the opportunity the parking industry has to play a central role by integrating payment infrastructures that support a more connected, flexible mobility ecosystem
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The journey has changed. Over the past few years, the mobility industry has undergone seismic shifts toward more digital experiences. Cash payments continue to disappear and in the US made up only about 14% of all payments in 2024. Over half of the US adult population make use of mobile wallets and many companies provide payment opportunities via apps for their services. While this has made some processes more efficient and streamlined, it has also resulted in very fragmented data streams.
Consider this scenario: a commuter drives an Electric Vehicle (EV) to a rural or suburban transit hub where they park and charge, then boards a train into the city. The final mile is completed on an e-scooter, shared bike or another mode of public transport to reach their destination. One journey, four separate payment interactions across four different apps.
This is the daily reality for millions of commuters, and it exposes a fundamental challenge that not only the parking industry, but also the mobility industry as a whole must confront. Continuing to build payment infrastructure for journeys that end at the curb, is no longer enough; we should be facilitating one system for these evolved modern journeys.
City Centres Reimagined
A substantial amount of land in city centers has traditionally been dedicated to parking, but there is a growing trend where we see city centers worldwide redesigning their urban space. On-street parking is giving way to pedestrian zones and cycle lanes. Traditional car parks are transforming into multimodal hubs that are integrating EV charging, micro-mobility stations, and last-mile logistics. Technologies like automatic number plate recognition are helping to eliminate friction at entry and exit points. However, backend complexity of the redesign of urban mobility has grown exponentially.
Local authorities now juggle relationships with cashless payment providers, meter operators, EV charging networks, micro-mobility vendors, and logistics partners. Each bring their own payment rails, reconciliation requirements, and data formats. For many municipalities, simply reconciling payments between a meter provider and a digital parking platform already strains finance teams. Adding multiple mobility partners brings a significant extra load to existing operational capacity and the operational burden is only part of the equation.
The Hidden Cost of Fragmentation
The more critical issue is strategic: fragmented payment systems can create fragmented data, and fragmented data can undermine intelligent policy.
When payment information sits in siloed systems across multiple vendors, authorities lack the consolidated view needed to answer essential questions:
How does parking behavior correlate with public transit usage?
What pricing strategies would optimize utilization across the entire mobility network?
Where should we invest in EV infrastructure based on actual demand patterns?
How do we measure progress toward carbon reduction targets?
Without integrated payment and usage data, cities are making significant capital infrastructure decisions with an incomplete picture.
The Payment Layer as Strategic Infrastructure
Forward-thinking cities are, however, beginning to recognize payment infrastructure not as back-office plumbing, but as strategic architecture for the mobility ecosystem.
The solution lies in centralized payment platforms that serve as a unifying layer – ‘super apps’ as they are called in other industries. The backend of these apps should be able to consolidate transactions across multiple mobility services, automate complex multi-party reconciliations, and create unified data lakes that enable AI-driven insights.
This approach can deliver immediate operational relief: finance teams spend less time manually reconciling disparate systems, and the strategic value compounds over time. With consolidated data, authorities can model the true economics of mobility transitions, identify underutilized assets, dynamically price services to manage demand, and measure environmental impact with precision.
Building for What Comes Next
The parking industry has always been about managing physical space, yet the future is about orchestrating mobility experiences. The question for industry leaders isn’t whether parking will integrate with broader mobility systems but whether parking operators will architect that integration intentionally.
Doing so requires a fundamental rethink of the role parking payment providers play in the payment value chain, while investing and building the technology and the payment infrastructure that makes seamless, sustainable urban mobility possible.
The infrastructure we build today will determine whether cities can deliver on their mobility and sustainability commitments tomorrow. For parking industry leaders, this is both a challenge and an opportunity: to evolve from transaction processors into the essential connective layer of urban mobility. Those with the vision, and the technological ability to rise to that challenge, have a real opportunity to lead the next generation of multimodal mobility payments.
About PayByPhone
PayByPhone is a global leader in mobile parking payments. We simplify journeys for millions of UK drivers with smart, intuitive technology and user-focused features. In addition to fast, secure parking payments, drivers can also locate nearby fuel stations and EV chargers – and pay for EV charging – all in the PayByPhone app. We work with over 1,300 cities and operators across the UK, North America, France, Germany, and Switzerland. More than 110 million drivers worldwide have downloaded the PayByPhone app to simplify their parking and vehicle payments to date. To discover how our products and services can elevate your driving experience.
Martin Petrov, Chief Technology Officer, Payments Compliance at Integrity360
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It is tempting to view payments compliance as the finish line, a signal that a business is secure. But in practice, compliance is just the starting point. It provides a baseline security level, not a digital fortress. Standards are designed to raise the floor and eliminate obvious vulnerabilities, but they cannot cover every emerging threat or nuance – such as a supplier getting breached or a shortcut taken by an engineer at 2 a.m. That is where organisations risk becoming complacent or overly literal in their interpretations.
True security demands a harder question than “Are we compliant”? It demands: “Would this stop an attacker today?” That demands understanding not just what a control requirements state, but why they exist. Multi-factor authentication (MFA), for example, is not just a checkbox; it is a concept rooted in stopping unauthorised access. Compliance must be interpreted in context: against the weakest vendor, the most exposed system, the riskiest business process, and the evolving threat landscape. Too many breaches have exploited gaps that audits never covered because compliance became the ceiling, not the floor.
Regional and cultural factors also play a part. In Northern Europe, payments compliance frameworks like PCI DSS are often seen as a baseline to exceed, with layered defences added beyond the minimum. In other regions, standards such as PCI DSS or ISO/IEC 27001 are treated more as a destination. Certification becomes the end goal – a badge to display, not a baseline to exceed. These differences matter because they determine whether compliance protects you or just protects your reputation.
The supplier slip-up that could cost you everything
One of the most urgent blind spots is the supply chain. You can harden and patch all of your own systems, mandate MFA, and lock down every endpoint. But a vendor’s default service account, an abandoned test tenant, or an over-permissioned API can undermine everything. As integrations and dependencies grow, so does the potential blast radius. And while many organisations know who their suppliers are, far fewer know what access they have, how often they are reviewed, or whether they follow the same standards. Supplier risk must now be managed as rigorously as internal operations; tiered, tested, and tightly controlled.
The three-body problem: when PCI-DSS, GDPR, and the EU AI Act collide
Then there is the pace of innovation, particularly in areas like AI. For European compliance officers, this creates a three-body problem: the EU AI Act, PCI-DSS, and GDPR orbiting each other with overlapping but misaligned requirements. And unlike physics, there is no elegant equation to solve it. Meanwhile, global response remains inconsistent, and the tension between innovation and oversight is only going to grow.
The organisations that succeed in this environment will not just meet standards; they will go further and question whether they are compliant on paper but vulnerable in practice. By treating compliance as a foundation, not a finish line, organisations will unlock new ways to stay secure and trusted. The question is, what does that really look like?
What good is a lock if no one checks the door?
One of the easiest traps for modern security teams is assuming that tools alone provide protection. But no matter how advanced the platform or how rigid the policy, it is people and processes that hold it all together – or let it fall apart. This is especially true in payments compliance, where new platforms and integrations emerge faster than policies can adapt.
Organisations that treat compliance as a checklist often over-rely on technology, trusting automated scans, secure settings, or third-party certifications to keep them safe. But without context and human judgement, these defences can create a false sense of security and leave the business exposed.
In the best security teams, compliance is part of the culture. Risk and DevOps teams stay in sync through constant feedback. Procurement acts as a line of defence, with a clear view of which suppliers matter most and where the risks lie. These teams know when to push back, even if it means slowing things down. And across the business, people are empowered to speak up when something feels off, whether it is a shortcut, a setting, or a workaround that could open the door to risk
Compliance is not the end of the story
The gap between being compliant and being protected has never mattered more. Payments compliance standards offer a necessary starting point, but it cannot keep pace with every new integration, supplier dependency, or regulatory shift. Resilient organisations recognise this. They treat compliance as one layer in a broader strategy, one that includes cultural alignment, human awareness, and operational agility.
The difference shows up not in the paperwork, but in the response to real threats. While compliant organisations pass audits, protected ones prevent breaches. That is the shift the payments industry needs: from ticking boxes to asking better questions, and from chasing certification to building capability, resilience and responsiveness.
Because at the end of the day, it is not about being compliant. It is about being resilient.
AccessPay, the leading bank integration provider, has released its Finance Trends 2026 report. It presents the findings of its annual survey of finance…
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AccessPay, the leading bank integration provider, has released its Finance Trends 2026 report. It presents the findings of its annual survey of finance leaders for the fourth consecutive year… AccessPay reveals marked sectoral differences between finance teams in financial services firms and those in corporates with regards to their priorities and attitudes to technology adoption.
Key findings from the report include:
Finance leaders are prioritising finance efficiency and cost control
Finance teams across all sectors are placing renewed emphasis on efficiency and cost control in 2026. 47% of general corporates cited this as a priority, a goal shared by 46% of financial services firms.
Although cost control is a perennial concern in financial management, sluggish economic growth, rising costs, and geopolitical turmoil have brought it to the fore. Finance leaders are being pushed to do more with less, which also means there is greater interest in adopting advanced technologies; 47% of general corporates and 43% of financial services firms stated they were prioritising the adoption of AI within the coming 18 months.
Financial services firms are pulling ahead in finance transformation
In both the financial services (29%) and general corporate (24%) sectors, a leading pack of firms report that their finance function has a high degree of automation and integration across all back-office systems.
Beyond this, there is a stark dichotomy between the financial and non-financial segments. 45% of financial services firms stated they were advanced in their finance transformation efforts, where most finance processes are automated. In comparison, 41% of corporates stated finance transformation efforts were progressing, with partial automation and manual workarounds. This highlights that there are still many quick wins to be realised in the corporate space through simple automation based on bank connectivity.
Insufficient budget is a bigger barrier to AI adoption for corporates
Financial services firms are much more likely to have invested in AI for finance operations than general corporates. 46% of financial services firms report having implemented AI enhancements to a high degree, compared to 28% of corporates.
Both financial and non-financial sectors faced common barriers to AI adoption, including a lack of internal expertise and resistance to cultural change. However, corporates were far more likely to cite insufficient budget as an issue with 31% raising this as a barrier, compared to 17% of financial services firms.
“The disparities between the financial and non-financial sectors in terms of their attitudes towards technology investment are striking,” comments Anish Kapoor, CEO of AccessPay. “Longer-term, the underinvestment in general corporates could backfire. In the current macroeconomic environment, finance teams will need to stress-test plans to ensure they can operate at the low end of their scenarios. This is why we predict 2026 will be a key year for automation in payment and treasury operations. If finance departments are to operate with reduced headcount or scale without increasing staff, leaders also need to consider how to make up that shortfall with technology.”
Download the full report here to learn more about digital transformation in finance operations and how bank connectivity solutions can help automate payments and bank statement data flows.
About AccessPay’s Finance Trends Survey
AccessPay’s Finance Trends 2026 Survey was conducted online during October 2025. The aggregated results are based on 130 respondents from various sectors, including financial services, legal, retail, manufacturing and utilities. Findings for the financial services sector are based on 84 respondents across banking and insurance, while corporate findings are based on 54 respondents. A small proportion of companies is classified in both segments. Typical job titles of respondents include (Deputy) Finance Director, Financial Systems Manager, Head of Treasury, and Head of Managed Services.
From Infrastructure to Impact – Where Technology Meets Humanity
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From Infrastructure to Impact – Where Technology Meets Humanity
Money20/20, the world’s leading FinTech show, and the place where money does business, has revealed the agenda for Money20/20 Asia. Set for April 21-23 at the Queen Sirikit National Convention Center in Bangkok. Asia’s most influential FinTech event will bring together thousands of leaders, innovators, regulators, and investors. From across the region and around the world delegates will explore how financial technology can deliver real human impact – not just technical innovation.
From Infrastructure to Impact – Where Technology Meets Humanity
Under the theme “From Infrastructure to Impact – Where Technology Meets Humanity,” the agenda reflects the industry’s evolution from celebrating capability to driving measurable outcomes that matter to people and communities. The program will spotlight key priorities. These include intelligent infrastructure for inclusive systems, SME empowerment, hyper-local ecosystem orchestration across diverse markets, last-mile solutions for underserved users, and the convergence of traditional and decentralised finance.
The keynote roster features top voices shaping the future of finance across Asia and beyond. Including Peng Ooi Goh, Founder & Executive Chairman of Silverlake Group; Sridhar Narayanan, Distinguished Engineer & CTO, IBM Payments Center; Kelvin Tan, CEO of audax Singapore; Fozia Amanulla, CEO of Boost Bank Malaysia; Rob Schimek, Group CEO of Bolttech; Anu Phanse, Chief Compliance Officer at Coinbase Singapore; Raymond Ng, CEO for Singapore & SEA at Revolut; and Rahul Advani, Global Co-Head of Policy at Ripple – along with an expanding roster of sector leaders across banking, FinTech, and technology.
A Defining Moment for the FinTech Industry
“Money20/20 Asia 2026 is a defining moment for our industry,” says Danny Levy, EVP & MD, APAC & Middle East. “This year’s agenda has been designed not just to showcase what technology can do, but to deepen conversations about what technology should do. Solve real challenges, unlock economic potential for small businesses, and ensure inclusive access for communities across Asia. We’re thrilled to bring together a lineup of visionary leaders who share that commitment.”
“Tokenisation is quickly moving from concept to real‑world use across Asia. Industries today are leveraging cutting edge technology to unlock liquidity and value through secure, compliant frameworks. HashKey is building the foundational infrastructure that makes it possible, and I’m looking forward to joining Money20/20 Asia to drive this shift from experimentation to real impact.”
Anna Liu, Chief Executive Officer of HashKey Tokenisation
Across three days of keynotes, panels, and interactive sessions, attendees will explore the critical trends shaping the future of money. From payments, banking, and digital assets to AI, regulatory innovation, and human-centred design. All with a focus on turning ideas into impact.
Launched by industry insiders in 2012, Money20/20 has rapidly become the heartbeat of the global fintech ecosystem. Over the last decade, the most innovative, fast-moving ideas and companies have driven their growth on our platform. Mastercard, Airwallex, J.P. Morgan, SHIELD, GCash, Stripe, Google, VISA, Adyen, and more make transformational deals and raise their global profile with us. Money20/20 attracts leaders from the world’s greatest banks, payments companies, VC firms, regulators, and media platforms: convening to cut industry-shaping deals, build world-changing partnerships, and unlock future-defining opportunities in Las Vegas (October 18-21, 2026), Amsterdam (June 2-4, 2026), Riyadh (September 14-16, 2026), and Bangkok (April 21-23, 2026). Money20/20 is where the world’s fintech leaders convene to grow their brands.
Partnership enables financial institutions to expand faster into new markets with automated, consistent and compliant localisation workflows
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Plumery, the digital banking development platform, and Lokalise, a leading platform for continuous localisation have joined forces to embed enterprise-grade localisation functionality, including translation and market adaptation, directly into digital banking experiences. This will enable financial institutions to deliver hyper-localised experiences at scale. Improving accessibility, engagement, compliance and customer satisfaction.
Today, financial institutions increasingly compete on experience, speed, and accessibility. Global banking customers now consider native language support a baseline expectation. This makes it essential for institutions to adopt a multilingual-by-design approach.
Plumery combines developer-friendly, customer-centric digital banking platform with Lokalise’s best-in-class localisation infrastructure. Together, their AI orchestration will help financial institutions expand their customer base. This can be done in a scalable way by launching and updating multilingual journeys faster, with full control and compliance.
Modern Digital Banking
The partnership also removes one of the biggest blockers to delivering modern digital banking. Financial institutions can now deliver high-quality localised digital banking experiences. Moreover, at a fraction of the cost and time, across all channels, without engineering bottlenecks. This reduces operational overhead, speeds up market entry, improves compliance with language- and accessibility-related regulations. All of which delivers a better, more inclusive customer experience. Financial institutions can move faster without increasing operational risk.
“Localisation is no longer a nice-to-have, it’s essential for delivering truly inclusive and personalised banking experiences. Partnering with Lokalise allows us to bring world-class localisation into every digital journey our clients build on Plumery. Together, we’re helping financial institutions launch faster, scale globally, and meet the expectations of modern customers who want banking in their own language, context and culture.”
Danielle Cohen, Head of Product at Plumery
“This partnership is a game-changer for financial institutions looking to scale globally with confidence. By embedding AI orchestration and continuous localisation directly into the Plumery platform, we are empowering customers to easily launch and update multilingual services at a fraction of the cost, ensuring consistent, compliant, and local experiences that accelerate market expansion and drive rapid customer growth.”
Etgar Bonar, CMO at Lokalise
The partnership is live across all markets Plumery and Lokalise serve, with the first mutual deployments already underway.
About Lokalise
Lokalise is the most intuitive and powerful AI localisation platform, trusted and loved by 3,000+ global companies to deliver high-quality human-level translations at a fraction of the cost. Furthermore, with advanced AI orchestration, 60+ deep integrations and world-class support, it is built to automate, collaborate, and scale growth while maintaining full brand and regulatory control.
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).
Brian Gaynor, European Chief Executive at BlueSnap, on leveraging the new tools that are needed to meet today’s tech demands
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Finance teams have a problem. The demands of doing business in 2025 go far beyond the limits of the tools they’ve been using for decades. Every day, teams wrestle with myriad spreadsheets, struggling to manage critical business processes with the tools they’d use to plan the Christmas party.
But the alternative feels too risky. Decision makers shy away from changing the systems they’ve worked in for years, and the investment and imagined disruption this would bring. Surely ‘better the devil you know’ – even if the present is particularly hellish.
On first glance, refusing to change may seem like the cheaper choice. Yet familiarity comes with a hidden premium. The cost of inefficient manual processes quickly mounts up and missed opportunities mean higher losses. As businesses face shrinking margins in a strained economic climate, this is a cost they can no longer afford.
Spreadsheets Conceal a World of Secrets
One of the biggest challenges finance teams face today is the lack of visibility into outstanding invoices. Manual spreadsheets often hide the true scale of late payments, often until it’s too late. When unresolved invoices pile up, companies face reduced cash flow, strained internal coordination, and great exposure to compliance risks. The extent of this damage should not be underestimated: late payments cost the UK economy £11 billion a year and shut down 38 businesses every day.
However, modern AR automation tools can bring cash secrets into the light. They’re able to give businesses real-time visibility over accounts receivables so overdue payments are spotted earlier and businesses can launch proactive collection strategies, rather than desperately chasing overdue accounts at the very last minute. Automated reminders, dispute resolution workflows, and digital invoicing help take the friction out of invoicing, as well as giving finance teams a smarter view of receivables year-round, not just during heightened crunch periods.
Using AR software to reduce financial bottlenecks creates a cascade of business benefits. Freed from spreadsheet hell, customer-facing teams now have the time to focus on client relationships, and drive company growth, rather than endlessly chasing late payments. This means they can bring their talent to create real value for a business, rather than being forced to take on manual tasks that should be left to a machine.
Keeping Cash Flowing
Cash flow is the lifeblood of every business yet legacy processes often drain it. Manual invoicing and reconciliation often end up extending collection cycles and, subsequently, straining liquidity. Stuck with outdated processes, companies end up waiting weeks – or even months – longer than they need to access their own funds.
By contrast, AR automation accelerates invoice collection, allowing businesses to unlock working capital much faster than any manual process could. At the same time, it helps individuals and organisations increase their productivity by eliminating repetitive, error-prone tasks such as data entry, reconciliations, and follow-ups. Finance professionals can then redirect their time to higher-value work such as interpreting data, advising leadership, and shaping strategy. This is the work that helps grow a business and allows an organisation to move with agility which is crucial to economic resilience in today’s difficult climate. The ability to free up capital and employee bandwidth can be the difference between stagnation and growth.
Extending the Range of Vision
Another casualty of manual processes is cash flow forecasting. Spreadsheets are reactive documents, providing a static, backwards-looking view of finances, and are often plagued by version control issues and human error. This means finance leaders are left making critical business decisions without a clear picture of future cash flow, reducing strategic planning to a roll of the dice.
Automation offers the opposite. By offering real-time visibility of accounts, invoices, and performance, it enables finance teams to forecast cash flow with confidence. This foresight allows businesses to accurately anticipate liquidity needs, mitigate any risks, and respond faster to shifts in demand or supply chain disruption, meaning they can work proactively rather than reactively. The ability to be on the front foot is another crucial block in building business resilience.
Enhancing the Customer Experience
Outdated systems don’t just create internal inefficiencies, they affect an organisation’s relationship with their customers. Legacy systems have a significant impact on the customer experience, as manual processes, such as cheque reconciliation, slow down operations and make payment processing cumbersome.
Again, automated AR solutions can help here. Automated systems enable businesses to offer customer-friendly features, like a ‘pay by link’ option that makes it easy for customers to instantly settle invoices. This reduces friction in the payment process, prompts clients to make payments quickly and on time, and helps strengthen the trust between an organisation and its customers.
Ultimately, modern finance platforms that use automation greatly enhance the customer experience by making billing seamless, accurate, and transparent. Payments are processed faster, disputes are handled proactively, and customer satisfaction improves as a result. At a time when every client counts, such benefits can’t be ignored.
Familiarity Comes at a Price
With so many advantages stemming from AR automation, why are so many organisations choosing to stick with spreadsheets? One may think that the biggest barrier to change is technology, but often, it’s their attitude. Too many finance leaders assume that because their current processes haven’t collapsed, they must be working well enough to remain in place. But ‘if it ain’t broke’ is a destructive mindset. Opting to be complacent and being satisfied with ‘good enough’ tools, is a costly decision. And are these tools actually working if they lead to lost productivity, delayed revenue, weakened forecasting, and damage to customer relationships?
Businesses may think it’s up to them to upgrade their finance systems. But the decision to automate is quickly being taken out of their hands. Companies that still cling to the processes of the past will soon find themselves left behind, as competitors leverage the new tools that are needed to meet today’s demands. While change may seem intimidating, or feel temporarily uncomfortable, ultimately, it’s crashing into the red that’s going to feel worst of all.
Dr Antoni Vidiella, CSO of Financial Services at Globant, on why the next stage of AI in financial services depends on modernising the legacy systems that still underpin banking and FinTech
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Many financial service institutions are now moving beyond simple automation and exploring how to embed artificial intelligence across every layer of their operations, from payments and compliance to customer engagement. As banks and FinTechs continue this shift, the sector is entering a new phase in which real-time intelligence, connected data and adaptive systems will define competitiveness.
Yet unlocking this value requires far more than the introduction of new AI tools. To turn data into meaningful business intelligence and to enable new growth models in digital finance, financial institutions must modernise the systems at their core. Without strong foundations, AI cannot scale effectively or operate in a responsible, transparent or secure way. The potential may be vast, but the path to achieving it begins with the fundamentals.
The Challenge of Legacy Systems
Like many other industries, financial institutions still rely on architectures that were built decades ago. These systems continue to support essential functions such as payment processing and risk modelling, yet their rigidity and fragmentation severely limit the potential of AI. Information remains scattered across mainframes, cloud platforms and on-premises databases. As a result, the data required to train and operate modern AI systems is often incomplete, inconsistent or inaccessible in real time.
This fragmentation reflects a deeper structural issue. Many core banking systems were designed around periodic or batch processing. Fraud detection, credit assessment and compliance monitoring therefore remain reactive, even as customer expectations shift toward instantaneous experiences. The consequence is a widening gap between what AI can theoretically deliver and what institutions can achieve with the infrastructure they currently have.
The scale of adoption shows how urgent this challenge has become. A 2024 study by the Bank of England and the Financial Conduct Authority found that 75 percent of UK financial services firms already use AI, with a further 10 percent planning adoption within the next three years. Yet research in 2025 by Lloyds Banking Group indicates that while institutions are beginning to see gains in productivity and customer experience, many acknowledge that their underlying systems are not ready for the next stage of AI maturity. The ambition is there, but the technical foundations remain uneven.
Modernisation as the Foundation for Scalable, Trustworthy AI
Modernisation represents the most significant step institutions can take to prepare for the intelligent financial systems of the future. Moving to cloud-native architectures, adopting microservices and improving data quality all make it possible to activate AI across an organisation rather than in isolated pilots. These shifts also make the resulting systems more secure, more transparent and easier to govern.
Importantly, modernisation is no longer the slow, resource-intensive process it once was. AI-assisted approaches have transformed what is possible. Automated code analysis, conversion and validation can reduce modernisation timelines dramatically. In one example, more than 11,000 lines of legacy COBOL code were migrated to modern Java services in only 105 hours, a task that would traditionally have taken several months. These advances illustrate how quickly institutions can begin creating the environments required for real-time intelligence.
The global opportunity reinforces the need for speed. AI adoption in banking is accelerating rapidly, with institutions racing to modernise their systems and unlock new operational efficiencies. Those that move first will capture the earliest benefits and operate with a level of agility that older architectures simply cannot match.
How Intelligence is Reshaping Payments and Embedded Finance
Payments provide a clear view of how AI is transforming the financial landscape. As digital transactions grow in both scale and complexity, the industry needs systems that can act instantly and intelligently. AI models can analyse behavioural patterns in real time, reducing false positives in fraud detection and strengthening overall resilience. They can also optimise transaction routing, identifying the most efficient or cost-effective paths in ways legacy systems are not equipped to handle.
These shifts extend beyond payments. Embedded finance is becoming a central feature of retail, mobility, insurance and platform-based services. As the ecosystem expands, it will rely heavily on AI to offer tailored credit decisions, contextual payments and adaptive insurance coverage. These capabilities require unified, real-time data environments that can only be delivered through modernised core systems. Without this foundation, the benefits of intelligent payments remain out of reach.
The Essential Role of Responsible Innovation
As AI takes on a larger role in high-impact financial decisions, responsible innovation becomes a defining priority. Trust must be maintained at every stage of the customer journey. Findings from the Bank of England and the FCA show that 55 percent of AI systems in UK finance involve some form of automated decision-making, though very few operate without human oversight. This balance reflects a clear need for systems that are transparent, explainable and accountable.
Responsible AI requires more than good intentions. It depends on strong governance frameworks, rigorous monitoring for bias and clear visibility into how decisions are made. It also relies on consistent, well-managed data. Modern cloud-enabled infrastructures make these practices more achievable, allowing institutions to meet regulatory expectations while building customer confidence. Legacy systems, by contrast, make responsible innovation significantly harder to sustain because they lack the transparency and control required for effective oversight.
How GenAI is Reshaping Operations and Customer Experience
Generative AI expands the possibilities for transformation even further. In customer engagement, GenAI enables natural, personalised interactions that respond to customer needs in real time. It can simplify onboarding, deliver proactive financial insights and support customers throughout complex journeys without compromising clarity or accuracy.
Within operations, GenAI reduces the administrative burden that regulatory compliance often creates. It can summarise complex legislation, draft documentation and support audit processes far more efficiently than manual methods. In product development, it helps institutions test new ideas, model risk scenarios and understand customer behaviour more quickly, reducing time to market and increasing innovation capacity.
However, all these capabilities rely on a consistent and reliable data environment. GenAI cannot deliver meaningful insights if the data underpinning it remains fragmented or outdated. The quality of the output will always reflect the quality of the foundations beneath it.
Building a Resilient Path to Long-Term Innovation
Modernisation is frequently described as a technical necessity, yet its impact is far more strategic. Institutions that invest now will be better equipped to integrate new technologies, respond to regulatory changes and develop AI-enabled products with greater precision. They will also be better positioned to enhance the customer experience, which increasingly depends on real-time intelligence and personalised insight.
Most importantly, modernisation elevates human expertise rather than replacing it. AI supports judgement, strengthens decision-making and frees teams from manual tasks, allowing them to focus on the relationship-building and strategic insight that define successful financial services.
Creating the Intelligent Financial Institution of the Future
Financial services are entering a new era shaped by real-time intelligence, interconnected digital journeys and deeply personalised experiences. Achieving this vision requires modern, resilient systems that can support advanced AI and GenAI. Institutions that begin modernising now will lead the next decade of innovation and create financial ecosystems that are more adaptive, more secure and more connected than ever before. The future is intelligent, but it can only be built on strong foundations.
Marko Katavic, Director of AI and Decision Intelligence at Moneybox, argues the future of financial services should not aim to replace bureaucratic safety systems with AI, but instead integrate AI to deliver human-level accessibility
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Trust is the foundation and the currency of the financial services industry. When customers hand over their hard earned money, they trust in their chosen provider’s ability to safeguard their finances and help achieve their financial goals.
Long before computers came about, the financial services industry built trust and minimised risk through carefully organised processes led by people. A significant amount of bureaucracy, process control and mapping has reduced mistakes for decades. However, as technology has developed, the way the industry interacts with these processes is changing.
The Rise of Bureaucracy and Software
The introduction of computers enabled the financial services industry to scale processes, increase productivity and widen customer pools. This was achieved through structured software mapped to closed deterministic and bureaucratic processes that allowed the industry to reduce errors and increase efficiency by applying the same structured decision-making to lots of customers automatically, rather than having humans make decisions for each individual customer.
Now we face the rising popularity of AI agents, and effectively integrating these entities into the sensitive systems that were built before them. When applied correctly, they offer immense value, but applied incorrectly, and they risk causing immense harm.
As we are at the relative start of the AI implementation journey, it is crucial to determine how we take AI tools with such significant decision making capabilities, and safely plug them into our systems now to maintain trust, and more importantly so that they help customers, rather than hinder.
The Missing Human Layer
The key to successful AI implementation in the financial services industry is to understand the market gap it can fill. For the last four decades, scaling financial services safely has only been achieved with many layers of bureaucracy – slowing delivery, adding friction, and ultimately limiting who could be served. Furthermore, the human experts who could navigate these bureaucratic complexities and translate it into clear, accessible decisions for customers were few and far between.
This gap is what modern AI systems can close. AI can act as an intelligent layer in front of the bureaucracy, to help the wider public make smart financial decisions with greater confidence. We must learn from the success of large AI systems, as their approachability and ease of use is what draws customers in at scale.
However, for AI to fulfill this promise, it must meet the same standards of institutional safety and compliance. This ease of use must be brought to customers safely, meaning we must engineer the very same systems of safety that currently underpin the financial sector, ensuring AI offers accessibility without compromising on trust.
Engineering Safe Boundaries
To achieve this, we have to go beyond integration – we have to engineer clear boundaries between AI and traditional software. We must use AI to deliver an accessible, relatable customer experience, while ensuring it follows the principles built into tested software. This approach is critical because good outcomes only come as a result of managed risk and tested judgement.
There is significant hype around feeding agents large knowledge bases of policies via Retrieval-Augmented Generation (RAG). While using state-of-the-art models can achieve reasonable, but not perfect, policy concordance for judgement tasks – if the aim is to deliver full flexibility of human interaction to customers at scale, then this protocol is only acceptable for basic customer service, such as issue handling. It falls short when it comes to dealing with the diverse approaches and behaviours customers bring – meaning that errors can only be minimised, not entirely controlled.
When dealing with nuanced considerations such as investment decisions and judgements that have long-standing consequences, it is better to implement software layers that are interactive with AI for logic checking and generating results, rather than trying to emulate complex decision making principles through predictive language.
A Recipe for Success
Modern AI systems, even when producing the right answer 95% of the time, are making decisions on ‘instinct’. No financial firm would implement a workforce of highly instinctual individuals making critical decisions without bureaucratic control. Therefore, putting AI on the path to make financial decisions without the tried-and-tested software to control logical reasoning is a path to failure.
The recipe for success in a customer-facing context is clear. Providers should use AI to mimic everyday language and bring a personal dimension to customers at scale, but keep core financial decision-making within the safe domain of tried and tested software and experts.
While this may sound simple on paper, achieving a seamless system where everything blends together is the core differentiator between companies that will win customer confidence, and companies that will simply offer ‘cool ‘short-term gimmicks. To close the advice gap, the future of financial services should not aim to replace bureaucratic safety systems with AI, but instead integrate AI to deliver human-level accessibility – while keeping decisioning limited to the domain of purpose-built software.
New research from myPOS, the European payments provider for small and medium-sized businesses, reveals that Britain’s shift toward tap-to-pay is leaving…
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New research from myPOS, the European payments provider for small and medium-sized businesses, reveals that Britain’s shift toward tap-to-pay is leaving traditional PIN codes behind. As contactless becomes the country’s top payment preference, almost a third of young adults now admit they can’t remember the four digits once central to everyday spending.
myPOS data reveals 29% of Gen Z struggle to remember, or have completely forgotten, their PIN. Highlighting how digital-first habits are shaping consumer behaviour. However, it isn’t just younger groups that are feeling the effects. One in five Boomers (20%) say they face the same issue as reliance on physical cards significantly declines.
Contactless Payments
This shift has been driven largely by the dominance of contactless card and mobile payments. Over two-thirds of Brits (69%) say tapping, via card, mobile phone, or smartwatch, is now their primary method of payment. In contrast, just 16% rely mainly on chip and PIN, and only 14% primarily use cash. A further 10 % of Brits now live entirely wallet-free, using only their mobile or smartwatch for day-to-day spending.
Convenience-led behaviours are accelerating the decline of PIN usage across the UK. Nearly half of British consumers (47%) say they would happily go completely contactless if it meant shorter queues in shops and venues. Flexibility and convenience (42%) and speed (34%) remain the largest drivers behind the rise of tap-to-pay.
“As the UK embraces contactless and mobile payments, it’s clear that the traditional PIN is becoming less central to everyday transactions. Businesses and payment providers should ensure security and convenience go hand-in-hand, while recognising that consumer habits are evolving rapidly.”
Jelle van Schaick, VP Marketing at Lorum, looks beyond Swift at fixing the correspondent chain to change how global money moves
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SWIFT has become a convenient villain in modern finance. When a cross-border payment takes three days to settle, frustration builds. The blame is almost instinctively placed on the messaging network itself. Vendors promise to replace it with blockchain solutions, and crypto pitch decks often speak evangelically of a world without it. However, focusing on SWIFT hides a much simpler and less glamorous reality regarding international finance. SWIFT is not the problem. The correspondent banking chain is the problem.
To understand the delay, we need to separate the instruction from the asset. SWIFT is fundamentally a secure messaging network that allows financial institutions to send payment details. However, it does not move money, it does not hold deposits, and it does not determine when funds are released. A SWIFT payment message is simply data. The actual capital resides in nostro and vostro accounts, moving via domestic RTGS systems and local clearing schemes.
While the SWIFT message travels across the globe in seconds, the delay lives in how each institution along the path manages its own accounts and risk parameters. When a payment stalls, the bottleneck is almost always found in that chain of custody rather than in the wire that carried the instruction. Blaming SWIFT for a delayed settlement is like blaming an email provider because the recipient waited two days to open the message and reply.
The Hidden Cost of Every “Hop”
Most cross-border flows continue to rely on the correspondent banking model. In this system, if a bank in one country does not have a direct relationship with a bank in another, the payment must hop through intermediaries. This is not a seamless relay; each step in the sequence adds resistance.
Every hop adds:
another balance sheet to fund
another set of compliance checks
another set of cut offs, holidays, and local quirks
another chance to add margin, fees, or spreads
This operational drag creates measurable latency. SWIFT’s own data shows that while roughly 90% of payments reach the destination bank within an hour, fewer than half are credited to the end customer’s account in that same timeframe. The delay is not in the transit; it is in the processing queue of the receiving institution.
Why Banks are Paid to Wait
If technology is not the primary issue, we must look to economic incentives. The correspondent banks facilitating these flows are typically large universal banks. Their core economic engine is lending and balance sheet management rather than clearing. These institutions earn yield by holding deposits and managing liquidity, not by pushing funds out the door as fast as possible.
That creates predictable tensions:
settlement can be batched or delayed to smooth intraday liquidity
funds can sit in internal accounts until windows or limits align
risk teams can slow flows when risk appetite tightens
When operational reality meets these misaligned incentives, the result is a compounding delay that no messaging standard can fix. Legacy cores, manual exceptions, and misaligned time zones all stack delay on top of these economic priorities. Operational teams bounce investigations between institutions through tickets and emails, magnifying the friction. None of this is a feature of SWIFT. It is the consequence of who performs clearing and what their balance sheets optimize for.
The Case for Unbundling Clearing
The traditional network is fracturing under this pressure. According to theBank for International Settlements (BIS), the number of active correspondent banking relationships has declined by over 20% in the last decade. As universal banks retreat from this low-margin utility, a vacuum has opened for specialist infrastructure.
This helps explain why many fintech projects fail to solve the core issue. Attempts to create new rails often miss the point. If the system still relies on universal banks to hold funds, the underlying friction remains. The critical design question is not how to remove SWIFT, but who should perform institutional clearing and under what incentives.
A truly effective solution requires a structural shift where clearing is separated from lending. This has paved the way for a new category of infrastructure known as the specialist correspondent. Unlike universal banks, these institutions are designed exclusively for clearing and cash management. We see this model validated by firms like Lorum, which operate as specialist correspondents rather than generalist banks.
By connecting to local payment rails in multiple markets and providing named account structures, this model allows institutions to work with a single clearing partner rather than managing dozens of bilateral relationships.
For treasurers, this shift means:
local settlement on domestic rails wherever possible
a single global view of balances and flows
fewer intermediaries and more predictable timelines
This approach does not replace the messaging layer, as SWIFT already moves messages well. Instead, it redesigns the institutional layer behind those messages. It focuses on the start and end of each payment where custody, timing, and control actually break. Blaming SWIFT is easy because it is visible and old. It is harder, and more useful, to redesign who holds and releases funds. The firm that fixes the correspondent chain changes how global money actually moves.
Michael Ault, Country Manager at integrated payments specialists myPOS, offers strategic advice for SMEs looking to scale through digital transformation and diversification
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Scaling a small business is one of the most rewarding, yet complex journeys for any entrepreneur. While growth brings opportunities for greater reach, higher revenue, and stronger market presence, it also demands foresight, discipline, and the ability to manage risk strategically. Securely integrating new technology is the main obstacle for 47% of SME’s, even though 76% of these businesses intend to expand their IT investment. This underscores a key point of tension, as many businesses want to grow through digital transformation but struggle to do so securely and sustainably.
The business landscape continues to evolve with changing customer expectations, technology, and economic conditions. For UK SMEs, the key to long-term success lies in achieving growth but also in building resilience. Sustainable scaling comes down to three principles: embracing technology pragmatically, diversifying intelligently, and investing in people and partnerships that strengthen resilience.
Leveraging Digital Transformation
Digital transformation is the foundation of business growth, especially for small business. Cloud-based solutions, automation, and data analytics help to streamline operations, reduce inefficiencies, and create better customer experiences. However, transformation must be purposeful, not performative.
The smartest approach is to scale technology investment incrementally, integrating flexible, modular systems that evolve with business needs. This approach not only lowers risk but also helps ensure digital maturity evolve over time. When SMEs use modular, cloud-based technology, operations run more smoothly and changes can be effectively analysed. Ultimately, resilience is not built through one-time upgrades but through a culture of continuous digital evolution.
Diversifying Revenue Streams
Depending on a single product, service, or market leaves a business vulnerable to sudden changes in demand. Diversification, when guided by customer insight and data can turn volatility into opportunity. Expanding into online sales, introducing subscription models, or targeting fresh customer segments can make income streams much more stable and sustainable.
At myPOS, we know that even simple changes based on data, such as adding additional payment options or tapping into cross-border e-commerce, can help cash flow and protect against market shocks. The goal of technology is to mitigate specific challenges without adding layers of complexity.
Investing in Employee Development
Your people are pivotal to your ability to grow as a business; empowered teams are the engine of sustainable scale. A team that feels supported and motivated will bring fresh ideas, adapt to challenges, and push the business forward. Investing in training, mentoring, and development opportunities builds skills that pay back in the form of innovation and improved performance.
In fast-changing industries, having employees who are confident in learning and adapting can make the difference between struggling through disruption and taking advantage of it. Equally, strong partnerships extend this resilience beyond the organisation. Building resilience at the team level creates resilience for the whole business, so fostering a culture of continuous learning and celebrating employee contributions is key to maintaining motivation.
Focusing on Financial Health and Flexibility
Financial resilience underpins sustainable growth. Scaling often requires upfront investment, and without healthy cash flow or reserves, opportunities can be lost. Monitoring income and expenses closely, cutting unnecessary costs, and preparing for seasonal fluctuations gives businesses more control.
Having flexible financing options, like credit lines, small business loans, or even crowdfunding, provides a level of agility. Instead of being caught off guard by unexpected challenges, businesses with financial flexibility are positioned to respond quickly and strategically.
Financial management software can make it easier to track performance, spot issues early, and forecast future needs. When you can see your finances in real time, you can make proactive, data-driven decisions instead of waiting for problems to happen. In markets that change quickly, this kind of financial management helps small firms plan with confidence, stay flexible, and establish a stronger base for long-term growth.
Prioritising Customer Relationships and Feedback
Your customers are not just buyers; they are advocates, sources of insight, and the foundation of repeat business and brand loyalty. Businesses that scale successfully often place customer relationships at the heart of their strategy by actively gathering feedback, responding quickly to issues, and personalising interactions, which shows customers they are valued.
This loyalty becomes a form of resilience. In periods of uncertainty, a base of satisfied, returning customers provides more stability than constantly chasing new ones. Successful businesses use CRM tools to track customer preferences and automate follow-ups so no opportunity to strengthen a relationship is missed.
Building Strategic Partnerships
Partnerships can accelerate growth while also spreading risk. Working with other businesses, organisations, or influencers can provide access to new audiences, shared expertise, or additional resources. Collaboration can also create opportunities for joint marketing, co-branded initiatives, or innovative product and service offerings.
In times of uncertainty, strong partnerships act as a support network. By aligning with others who share your values and vision, you create opportunities that are mutually beneficial and more resilient than going it alone. It is important to find partners whose goals and audiences complement your own for the best long-term impact.
The next stage of small business success will be defined by resilience rather than speed, the ability to adapt, recover, and continue to create value in the fact of uncertainty. For SMEs, this means developing adaptable growth plans that include flexible technology, diverse models and empowered employees.
Plumery’s AI fabric is future-proofed and designed for use cases beyond today’s horizon
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Plumery, a digital banking development platform for customer-centric banking, has released AI Fabric. It creates an artificial intelligence (AI)-ready foundation for AI-assisted digital banking.
AI-Ready Digital Banking
Based on an event-driven data mesh, the new solution gives financial institutions a standardised way to connect AI and generative AI (GenAI) models/agents to banking data. Eliminating the need for bespoke system integrations. AI Fabric moves institutions away from brittle point-to-point architectures towards an event-driven, API-first architecture that scales with innovation.
Most financial institutions struggle to operationalise AI because their data is fragmented across legacy cores, channels, and point-to-point integrations. Each new AI pilot can require fresh plumbing, security reviews, and governance work, which delays time-to-value and increases risk. In addition, under increasing regulatory pressure, institutions are required to explain, audit, and govern AI decisions. Together, these factors make ad-hoc approaches to AI difficult to scale.
AI Fabric
Plumery’s AI Fabric enables institutions to plug in and swap AI capabilities as the ecosystem evolves. It exposes high-quality, domain-oriented banking events and data streams in a consistent, governed, and reusable way. This works across products, channels, and customer journeys. Importantly, the platform separates systems of record from systems of engagement and intelligence. Offering financial institution long-term agility instead of short-lived AI experiments.
By reducing point-to-point integrations and one-off data pipelines, an institution can lessen operational complexity and technical debt. This makes change cheaper, safer, and more predictable. Additionally, having clear data lineage, ownership, and control makes it easier to explain decisions, manage model risk, and satisfy regulators – reducing compliance friction as AI adoption grows.
“Financial institutions are clear about what they need from AI. They want real production use cases that improve customer experience and operations, but they will not compromise on governance, security, or control. Our AI Fabric gives them a standard, bank-grade way to allow AI use within their tools and data without rebuilding integrations for every model. The event-driven data mesh architecture improves the process by changing how banking data is produced, shared, and consumed, rather than adding another AI layer on top of fragmented systems.”
Ben Goldin, Founder and CEO of Plumery
Why Financial Institutions need an AI Foundation
In today’s fast-changing world, financial institutions need an AI foundation that absorbs change instead of amplifying it. With AI Fabric, institutions can experiment, deploy, and evolve AI-assisted use cases incrementally without re-architecting every time a model, vendor, or requirement changes.
Additionally, operational, customer, and risk decisions can be powered by live banking events rather than delayed, batch-based snapshots. This enables AI to assist where it matters most: in-journey, in-context, and in-the-moment.
Even financial institutions not yet ready to operationalise AI can lay the groundwork today with AI Fabric, ensuring they can move quickly and safely when priorities, budgets, or markets shift.
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 more than 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.
Radi El Haj, CEO of global payments technology leader RS2, argues that while cost-cutting is important, banks are overlooking AI’s biggest opportunity: fuelling growth through hyper-personalisation, predictive analytics, and dynamic pricing, all while staying on the right side of compliance
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In banking, artificial intelligence (AI) is often portrayed as an efficiency force-multiplier: automating back-office tasks, detecting fraud, reducing cost. Yet the bigger prize is less about cost and more about growth: unlocking new revenue streams through data monetisation, hyper-personalisation and dynamic pricing. At RS2, a platform that powers issuing and acquiring across banks and enterprises globally, we see how these possibilities can move from concept to profitable reality.
Unlocking Transactional Data for Revenue
Banks sit on rich transactional data – what customers buy, how they spend, when they engage. Historically, this data has helped reduce risk, fight money-laundering or optimise operations. But now it can be used to drive growth. According to an EY overview, AI-powered tools enable banks to personalise services, identify cross-sell opportunities and “potentially boost revenue streams.”
Consider a bank that analyses a customer’s payment behaviour, identifies recurring patterns (e.g., frequent travel, high hotel spend) and then offers a tailored premium travel card or concierge-style value add. Or a commercial bank that segments SMEs by payment volume and cash-flow profile and monetises by offering dynamic pricing on foreign exchange or supply-chain financing.
Responsible monetisation demands governance. A recent essay on monetising financial data with AI warns that “you’re sitting on a goldmine of data … but the major caveat is the need to manage risk”. The practical implication: invest in data-quality, maintain strict consent and usage controls, disaggregate personally identifying detail where possible and ensure transparency with customers. As banks move from “can we do this?” to “should we do this?”, the ones that succeed will embed data ethics, consent frameworks and explainability at the core.
Compliance and Innovation: Building Self-Hosted AI Frameworks
Growth-facing AI can’t sail past compliance. Banks need to remain within the bounds of regulatory regimes such as GDPR, PSD2 and CCPA. A key enabler is self-hosted or controlled AI infrastructure that allows experimentation without exposing sensitive data to third-party cloud vendors or uncontrolled derivative uses.
In the UK, the Bank of England notes that the future of AI in financial services demands both innovation and safety – building internal capabilities while contributing to systemic resilience. For banks this means: maintain internal model-hosting (or tightly controlled cloud with data isolation), build a “sandbox to production” pipeline where models are validated for bias, fairness and explainability, and treat regulatory engagement not as a blocker but as a design parameter.
With this architecture in place, banks can push beyond the cost-centre mindset (fraud detection, operations) into growth-mindset use-cases – real-time decisioning, dynamic pricing, micro-segment product design – all while retaining control over data flows, vendor risk and audit trails.
Explainable AI: Trust at the Front-Line
If AI is going to power new revenue models – dynamic offers, predictive cross-sell, hyper-personalised pricing – then customers and regulators alike must trust the outcomes. Enter explainable AI (XAI).
Explainability isn’t a nice add-on: it’s mandatory when AI touches decisioning that affects consumers (pricing, credit, product eligibility). If a customer is offered a differential rate based on their profile, they are entitled to know (in clear language) why. If a regulator challenges the fairness of an algorithmic decision, the bank must show the decision-tree, the bias mitigation steps and the audit trail of model monitoring.
As banks deploy AI in growth-facing scenarios, transparency becomes a strategic differentiator: one bank may claim to offer “smarter offers” – another will be able to document that those offers are fair, auditable and compliant. That traceability becomes a selling point when partnering with fintechs, regulators or corporate clients.
Lessons from Leading Banks: Growth-Not Just Cost-Cutting
While many banks still emphasise cost-cutting, the story is shifting. For instance, research from FIS shows that banks with a strong data strategy are tying AI investments to revenue outcomes, not just automation.
In practice, a global bank uses AI-driven cash-flow tools for corporate clients and is now preparing to monetise the service rather than treat it purely as a cost centre. Another major institution, NatWest, has embedded AI in its digital-assistant ecosystem and already reports improved customer engagement metrics and lower servicing costs.
From the experience at RS2, we see banks and FinTechs that pay attention to platform architecture, data lineage and flexible monetisation workflows succeed faster. The value flows not from a single “AI project” but from embedding AI into the payment rails, product lifecycle, pricing engine and loyalty ecosystem.
It is noteworthy that banks are not alone here: payments-technology providers like RS2 are collaborating with financial institutions to integrate AI into issuing and acquiring flows, offering a way to turn payments data into behavioural insight, and knowledge into value-added services.
Bringing it Together
For banks, the dominant mindset should shift from “AI as efficiency tool” to “AI as growth platform”. That transition requires three foundational capabilities: a clean, consent-driven data ecosystem; an AI infrastructure that balances innovation and control; and an organisational discipline around explainability, governance and monetisation strategy.
At RS2 we believe that the combination of payments technology, platform mindset and global scale gives us a front-row seat to this shift. The banks that lead in the next five years will be those that embed AI not in margins but in revenue lines – crafting new products, offering dynamic pricing, delivering real-time personalisation and monetising payments data in a responsible manner.
The future isn’t about AI simply making existing processes cheaper; it is about re-working how banks generate value. If your AI agenda stops at cost-cutting, you’re leaving the biggest opportunities on the table.
About RS2
RS2 is a leading global provider of payment technology solutions and processing services, offering a unified approach to managing payments across all channels for banks, integrated software vendors, payment facilitators, independent sales organizations, payment service providers, and businesses worldwide. RS2’s platform stands out as a robust cloud-native solution designed for both issuing and acquiring operations. With its advanced orchestration layer seamlessly integrating all aspects of business operations, clients gain access to comprehensive analytics, reporting tools, and reconciliation features. This empowers businesses to effortlessly expand their global footprint through a single integration, while also gaining valuable insights into payment processes and customer behavior, enhancing operational efficiency, increasing conversion rates, and driving profitability.
Can Taner, Chief Product Officer at Bitpace, analyses the most important shifts in the crypto and payments landscape
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The crypto industry has entered a phase of unbundling. Instead of one-size-fits-all platforms that try to do everything, businesses are looking to specialised providers that solve real-world problems with focus and precision. This shift defines how leading firms now build products: client-first, agile, and compliance-ready by design.
Solving Real Problems with Real Products
The key to building effective crypto payment solutions is understanding what businesses actually need. Payments should help companies operate faster, more efficiently, and at lower cost. Rather than chasing every trend, the focus should be on creating tools that remove friction and add measurable value.
That’s why many providers now offer modular solutions designed to work seamlessly across industries:
Payment gateway – enabling merchants to accept crypto securely, with instant conversion to fiat if needed, reducing volatility risk.
Global settlements – allowing businesses to move funds cross-border quickly and cost-effectively, bypassing traditional bottlenecks.
API integration –giving partners the tools to embed crypto payment functions directly into their platforms, delivering a frictionless experience for end-users.
OTC services –providing access to large-scale crypto trades, executed with discretion, high liquidity, and competitive pricing.
Each product is tailored to solve a specific pain point. Instead of bundling everything into a rigid system, we focus on flexible modules that businesses can adopt individually or together.
Agility and Expertise in Product Development
For providers, being specialised also means being agile. Every client problem requires a different approach, and in-house expertise allows them to respond quickly without compromising quality. From compliance to sales to product development, teams must collaborate to find creative solutions that meet the highest regulatory and technical standards.
This agility is only possible if they invest in deep domain knowledge. Product and engineering teams that understand the nuances of payments, crypto, and regulation can adapt quickly to market changes while keeping compliance at the core of every decision.
How to Launch New Products Effectively
Launching a new product in crypto, or any fast-evolving sector, demands structure and discipline. The most successful teams follow a process that balances creativity with rigour.
Start with ideation. Listen closely to client feedback, analyse emerging trends, and identify where the market still falls short. Great products don’t begin with technology, but with a clear problem to solve.
Do the research. Test assumptions early, model potential use cases, and validate compliance requirements before writing a single line of code. A strong evidence base prevents costly pivots later.
Plan collaboratively. Bring product, legal, compliance, sales, and technology teams together from the outset. Aligning goals across functions ensures that innovation doesn’t come at the expense of security or scalability.
Build with resilience in mind. Security, interoperability, and performance should be built into the product from day one, not retrofitted at the end.
Test thoroughly. Create safe environments to simulate real-world conditions and identify weaknesses before launch. Testing isn’t just a single step, but an ongoing cycle.
Launch deliberately. Roll out in phases, gather user feedback, and support early adopters closely. A careful launch builds trust and sets the stage for sustainable growth.
Each of these stages is designed to reduce risk, accelerate learning, and maximise long-term value, principles that define successful product development in today’s crypto landscape.
How Specialisation Wins
Launching products in crypto is about precision and collaboration. The great unbundling of crypto is rewarding those who specialise, focusing on solutions that solve real business challenges. Specialised providers win because they put the client first. That focus on expertise and flexibility is what defines success in the new era of crypto payments.
Mike Southgate, Co-founder of UK-based RegTech firm Ermi, on why artificial intelligence alone cannot replace human judgment in the creation of rules for automated transaction monitoring
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In the drive to modernise and improve financial-crime detection, artificial intelligence (AI) has emerged as a powerful tool. Machine-learning models have the ability to process vast volumes of transactional data, identify patterns invisible to the human eye and flag anomalies at scale.
But despite these clear benefits, AI on its own cannot deliver the transparency, accountability, or contextual nuance that is needed for effective transaction monitoring. Human judgment (Human In the loop) remains absolutely essential.
The Autonomy Illusion
Rising financial crime, advances in laundering typologies and increased regulatory scrutiny, has put financial institutions under pressure to adopt AI-driven anti-money-laundering (AML) systems, with the promise that they will be more effective.
According to the IICFIP Global Financial Crimes Impact Report 2025, global losses from financial crime exceed US $8 trillion annually, including money laundering losses of between US $800 billion and $2 trillion, fraud losses of over US $5 trillion, and corruption losses around US $3.6 trillion. Yet INTERPOL reports that only one percent of illicit financial flows are ever intercepted, frozen, or recovered.
Transaction monitoring vendors are increasingly marketing AI-driven AML solutions, claiming that the algorithms are able to autonomously detect suspicious behaviour. But these capabilities are often vastly overstated. Machine-learning models suffer from multiple issues. They are only as effective as the data they are trained on and ensuring accurate (E.g. data relevant to the firm buying the tool) and up to date data is challenging. Not least because financial crime is a moving target. Criminals continually change their tactics, often faster than AI can be retrained. Because the system relies on patterns learned from historical data rather than anticipating new, adaptive strategies, subtle illicit activity, such as transactions that mimic legitimate behaviour, often go undetected. Similarly, data to train an AI must know whether past patterns were truly criminal, which we may not always know.
Understanding AI’s Shortcomings
Importantly, the line between criminal and normal behaviour will depend upon the client. Consider a scenario where a high-net-worth individual initiates a series of international transfers. An AI model may flag these transactions purely based on volume or geography. Without contextual understanding for the type of client, the alert is likely to be a false positive. Conversely, a sophisticated money laundering scheme could evade detection entirely by mimicking legitimate behaviour. In both cases, human insight is critical. AI lacks context of clients or in-depth knowledge of of “normal” business models.
Opacity is another concern. Many machine-learning systems operate as black boxes, generating alerts without and meaningful explanation. Regulators are increasingly demanding transparency, for example under the EU AI Act and Financial Action Task Force (FATF) guidance on AI in AML (FATF, 2021). Institutions have an obligation to justify why a transaction was flagged (or not), what criteria were used and how decisions align with risk-based approaches.
Black-box models can also undermine internal governance. Compliance teams need to understand and trust the systems they rely on. And when an alert cannot be traced to a clear rule, confidence is undermined and investigations stall. Over-reliance on automation has the potential to overshadow critical human judgment.
Human Rule Design with Context
Effective transaction monitoring must still therefore have human-led contextual rule design. Unlike generic thresholds or static parameters, contextual rules take into account the full spectrum of customer behaviour, business models and risk exposure. Having defined rules will also allow transparency and traceability.
For example, a transaction exceeding £10,000 may trigger a review in retail banking but is routine in corporate financial operations. Contextual rules enable financial institutions to adapt the detection rule logic based on customer type and risk, transaction purpose, jurisdictional risk and historical patterns.
Contextual rule design also supports dynamic adaptation, so that systems are able to respond intelligently to changes in a client’s behaviour. For example, if a customer suddenly increases the volume or frequency of cross-border payments, the system evaluates these changes against historical patterns, business type, transaction purpose and associated risk factors. Alerts are then generated only when deviations are statistically or contextually significant, rather than for every fluctuation.
By incorporating this nuanced understanding, organisations are able to reduce false positives, prioritise genuinely suspicious activity and ensure compliance teams focus on actionable alerts rather than noise.
Contextual Rules
Importantly, contextual rules enhance explainability. Each rule can be traced to a specific rationale, for example, regulatory guidance, internal policy, or risk appetite. This strengthens audit readiness and helps with regulatory engagement. Transparency also supports continuous improvement as threats evolve or business priorities shift.
Financial crime detection is not just a technical challenge and is fundamentally about context. But AI struggles with nuance. It cannot distinguish between a legitimate seasonal spike and a layering attempt, in which illicit funds are moved through multiple accounts or jurisdictions to obscure their origin. It also cannot surmise intent, assess reputational risk, or weigh geopolitical implications, or above all… just be a sceptical compliance officer who doesn’t trust anyone.
Humans excel at contextual reasoning. They interpret indicators in light of customer behaviour and relationships, market dynamics and regulatory expectations. They ask the right questions, challenge assumptions and escalate concerns when needed. In short, humans bring vital judgment to transaction monitoring.
An example of this in action: in 2024, a European bank’s AI system flagged 80,000 transactions as “high risk.” Only 0.3 percent proved genuinely suspicious (IICFIP, 2025). Without human review, the bank would have wasted significant time chasing false positives, while potentially missing the subtler patterns of actual illicit activity.
Augmentation, Not Automation
The future of transaction monitoring is not about replacing humans but about strengthening them. AI should be used to support decision making by surfacing patterns and anomalies, while humans provide interpretation, oversight and context.
Forward-thinking financial institutions are getting ready for a regulatory landscape that will demand AI models are explainable and auditable. And by carefully combining machine efficiency with human judgment that organisations will reduce operational risk and strengthen compliance.
As financial crime grows more sophisticated, our transaction monitoring needs to evolve too. AI is a powerful tool but it is not a panacea. Effective transaction monitoring requires human insight and contextual awareness. Hybrid models that balance automation with human-led rule sets and interpretation will be essential.
While AI offers unparalleled speed and pattern recognition, it cannot replace the human ability to reason, contextualise and make judgment calls. Human-led transparency, explainability and context are not optional features for effective AML. Organisations that use AI to augment, not replace, human judgment will be best positioned to detect sophisticated threats, maintain regulatory trust and act decisively. In stopping financial crime, trust is essential and trust cannot be automated.
FinTech Strategy hears from the experts at DeepL, PagerDuty, Bitpace and Pleo who assess the impact of AI, crypto, stablecoins, tokenised payments and more on financial services in 2026
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Looking back at 2025, it was a pivotal year for financial services. The past 12 months have been marked by growing regulatory pressure, publicised outages, and a renewed focus on decentralised finance. In January, the Digital Operational Resilience Act (DORA) officially came into force across the EU, imposing new obligations on banks, insurers, investment firms and their technology providers to better manage ICT risks, report incidents and ensure continuity of operations.
That regulatory shift has come at a time when real-world failures are under intense scrutiny. A report from the Treasury Committee, prompted by a wave of IT glitches, revealed that nine of the UK’s largest banks and building societies suffered at least 803 hours of unplanned outages between January 2023 and February 2025, equivalent to more than 33 days of downtime. Alongside revision of traditional finance strategy, pro-crypto policy emerging from the US with the new administration has also buoyed investor confidence in newer assets like stablecoins, with the global market slated to hit $500 to $750 billion in coming years.
These events have reinforced a hard truth across the sector: digital infrastructure is no longer just a supporting pillar, it is mission-critical. Against this backdrop, many firms are now rethinking how they build, monitor and respond to technology risk. In this transformational moment, the voices below outline why 2026 may well become the year financial services firms turn lessons into lasting change, providing predictions about FS in 2026.
Eduardo Crespo, VP EMEA, PagerDuty:
“By 2026, financial services firms have turned hard-won lessons from the Treasury’s 2025 outage reports into action. Years of costly downtime and lost trust pushed the industry to rebuild around resilience. Always-on access is non-negotiable. Customers leave if they can’t transact in real time, and regulators are watching. In response, banks are overhauling legacy stacks and embedding AI at the core of incident management.
“AI isn’t a pilot project anymore, it’s become part of frontline defence. Systems now detect and diagnose disruption before it happens, enabling predictive maintenance and softening the blow of unplanned events. In 2026, resilience is a competitive edge.”
Anil Oncu, CEO, Bitpace:
“By 2026, digital assets will no longer be considered emerging. They will be fully embedded in mainstream finance. The shift is accelerating, driven by clearer regulation and stronger institutional participation across the US, UK and Europe. Pro-crypto policy is now the backbone of a global effort to build stablecoin-powered commerce at scale.
“In the UK, the Bank of England’s decision to allow stablecoin reserves to be held in short-term government debt is a significant signal of confidence. In the US, the GENIUS Act provides long-overdue oversight for dollar-backed tokens and replaces years of ambiguity with a clear path to legitimacy and widespread adoption.
“As global stablecoin supply moves beyond $300 billion, these digital dollars will support a rapidly increasing share of cross-border transactions. They reduce fees, eliminate settlement friction, and outperform traditional rails in both speed and transparency. At the same time, regulators are finally moving in the right direction. Stablecoins are moving from a speculative tool into a trusted infrastructure layer for modern payments.
“By 2026, digital assets will no longer sit alongside traditional finance. They will power its next phase of development. Stablecoins, crypto ETFs, and tokenised payments will be used directly within the financial stack and will be part of everyday business and consumer activity worldwide. This is not hype. It is execution, and the market is already moving.”
Ed Crook, VP Strategy & Operations, DeepL:
“2026 will be make-or-break for many financial services providers. In a competitive market, the edge goes to providers who adopt useful AI to cut through inefficient workflows. In this sector, where every interaction is highly regulated and reputational risk is acute, businesses need the right tools for the job. This includes data protection, account security, compliance, IT ops and customer service – keeping fundamental lines of communication open and effective. These are all areas where AI is already solving critical problems.
“AI is fast becoming the connective tissue of international finance, and this trend will continue in 2026, particularly in customer engagement and operational support. Our FS research found that over a third (37%) of client interactions in UK finance already involve AI. Over half (52%) use AI for multilingual translation, the top use case, directly addressing linguistic fragmentation. Moving into the new year, Language AI will be a key practical tool for financial services firms. But these companies first need to iron out their strategy around AI integration. Staff will inevitably look for workarounds if the tools provided don’t meet their needs. This is why companies need to get ahead by providing secure, fit-for-purpose solutions. By building a collaborative approach between IT and frontline teams, and avoiding pitfalls around shadow AI, financial service firms can maintain a unified, strategy approach to AI deployment, protecting against cybersecurity threats, while still realising the full benefits of trusted AI.”
Jeppe Rindom, CEO and Co-Founder, Pleo:
“Automation and “agentification” will redefine the fintech landscape. Most of what’s considered operational today will be handled by intelligent systems, from finance ops to customer support. That playing field will level and expectations will rise.
“To stand out, companies will need to inject identity – the one thing only humans can create. That could be through exceptional product design and user experience, considered use of human touchpoints where emotion and trust matter most, or the depth in which problems are solved for customers, not just how fast they can be solved.
“As the average becomes automated, greatness will come from creativity, clarity and crafting products and experiences that still feel unmistakably human.”
The Next 12 Months
The start of 2026 marks a massive turning point for financial services. After a year defined by renewed pressure on service uptime and improvement, around outages, regulatory pressure and rapid technological acceleration, the industry is now moving from reaction to reinvention.
In the coming year, we’ll see that firms embedding resilience, embracing intelligent automation and identifying new trends in service provision will lead the pack. The future of finance will hinge on trust, modernisation and operational strength, backed by technology.
Gareth Richardson, CEO at Finova, on tackling the challenges that persist in creating a truly inclusive financial system
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Financial inclusion has felt out of reach for too many people. According to the FCA, nearly a million people in the UK remain unbanked, and for those who do have access to financial services, that access isn’t always affordable or designed with their everyday needs in mind.
The UK is taking steps to address this, including the government’s latest financial inclusion strategy, which puts a welcome spotlight on digital inclusion. As more of life moves online – from paying bills to applying for credit – being digitally connected and being financially included are all packaged together. But despite huge advances in digital banking, many consumers still find themselves priced out, left behind or navigating services that weren’t built with them in mind.
So, in a world of instant payments and AI-powered apps, why are so many people still excluded from products that should be available to everyone? With the right technology, these rigid, outdated models can be replaced with services that adapt to customers rather than shutting them out.
The Hidden Problem with Traditional Pricing Models
The issue comes down to legacy thinking. Traditional pricing models didn’t grow out of customer needs. They grew out of the way banks organised themselves internally. Products are designed by departments, and those departments are managed according to systems, processes, risk models, and profit lines. The result? Customers were viewed as isolated cases. Our sector missed the bigger picture. We do not see a whole person with a rich and complicated financial life.
So what’s the solution? It starts with innovation. Cross-product, cloud-based core systems, open banking and AI-driven decisioning tools allow lenders to build a more complete picture of someone’s financial life, including their saving habits, spending patterns and long-term behaviour.
For example, a seasonal worker whose income rises and falls throughout the year could be penalised if a lender focused on their income profile in the quieter months. A more advanced decisioning tool could make an assessment based on a seasonal worker’s whole annual pattern, providing a fairer and fuller picture of their finances.
Another solution is a product that automatically adjusts its rates depending on the customer’s day-to-day financial decisions. Here’s how it works: the rates would dynamically evolve in line with the product holder’s behaviour and their changes in liabilities. As a result, people with low credit history learn good financial behaviour and can improve their access to banking services.
The message is simple. Financial products can be more flexible. They can be truly aligned with the realities of people’s everyday lives. But we must invest in the right technology to make it happen.
How Can Smarter Pricing Reach the People Who’ve Been missed?
The fact is that most pricing decisions today still rely on a limited view of a customer’s data. We end up with a situation where lenders are making decisions whether or not to do business with a customer based on information held by a single institution or even a product line.
But anyone could tell you that such a narrow view isn’t enough to really understand what a person does with their money. We all manage money across several banks, financial apps and credit providers. Some of us save in one place, borrow in another and budget somewhere else entirely.
Smarter pricing technologies can bring these pieces together in a way that feels more rounded and fair. By using open banking data, behavioural insights, and, soon, digital identity frameworks, lenders can build a richer, fairer view of a customer.
There’s a longer term benefit, too. Digital identity and federated data models will allow people to securely share verified data across institutions. This gives customers more control over how they’re understood and ensures their financial story doesn’t reset every time they switch providers. It shifts the emphasis from exclusion to inclusion.
Why Moving Faster Helps People Feel More Included
Speed might not be the first thing that comes to mind when thinking about financial inclusion, but it matters more than you might expect. When products take months to design, approve and launch, lenders struggle to respond to changing customer needs – particularly for people in vulnerable situations.
Cloud technology changes everything. Lenders can bring new ideas to market more quickly, test them with real customers and adapt the product spec based on what’s working. We can move beyond static and one-size-fits-all offerings. We can push for cloud-native systems, for a market where products can grow with a customer, rewarding positive behaviour and opening doors to better terms over time.
The Technologies Shaping A More Inclusive Future
Of course, a range of new technologies is coming to the market. All could make financial services more inclusive for the average everyday customer. The UK government has recently acknowledged that financial education is very poor, and it is worse in the areas of society that are typically unbanked. Our industry, of course, has known this for some time. UK Finance members have built inroads, with over 145,000 educators across 25,000 schools.
But the work isn’t quite over. The simple fact is that financial products are hard for people to understand and scary. AI can help people navigate decisions that once felt overwhelming or confusing. A person applying for credit for the first time, for instance, could use an AI assistant to compare options in plain language. By providing guidance that is both clear and tailored, AI helps people make informed choices without feeling intimidated.
Next comes digital identity and data portability, which tackle one of the most persistent obstacles to inclusion: lack of verifiable financial history. For people with irregular incomes or those new to the UK, these technologies can make a huge difference. Being able to carry verified financial information securely reduces the need to repeatedly prove financial standing and ensures continuity as customers move between services.
Finally, modern core banking architectures are laying the foundation for financial services that are flexible and human-centric. By moving away from predefined products, banks can design experiences that truly reflect a customer’s circumstances. This could mean flexible repayment plans that adapt to seasonal income or savings tools that respond to a customer’s habits over time.
Towards A More Accessible Financial System
Technology will play a central role in closing the financial inclusion gap in the UK. It can help create services that are easier to access and easier to understand. It’s about products that adapt to people’s lives rather than the other way around. And tools that give individuals the confidence and control they need to manage their money in a digital world.
The goal is a financial system that works for everyone and where no one is excluded because of outdated systems, incomplete data, or products that simply don’t reflect real life. And it’s in our reach. On the battlefront for financial inclusion, AI and technology can be a force for good. It’s up to our sector to embrace it without overlooking safety or structure.
Sam Kohli, CEO at PAYNT, on the need for continued innovation with biometric payments to enhance trust
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For millions of people, biometric security, or the use of unique personal characteristics such as fingerprints or facial recognition to confirm a person’s identity, has become an everyday process. These technologies are now deeply integrated into a huge variety of activities. From unlocking smartphones to authorising mobile payments. It’s quick, efficient and, compared to many other methods, relatively secure.
The underlying principles are long established. Fingerprinting can be traced back to around 500 BC, when it was used on clay tablets as a form of signature. In more contemporary terms, by the 1970s and 1980s, biometric systems began appearing in government and defence environments. Although these nascent technologies were expensive and slow.
Commercial adoption only became viable in the last 30 years or so as computing power increased, when applications were focused on workplace access control rather than payments. The real breakthrough came with smartphone integration. This began with fingerprint sensors on consumer devices, such as Apple’s Touch ID and Face ID, which are now extremely popular.
A Growing Ecosystem
A quick glance at the underlying trends reveals just how rapidly the ecosystem is now expanding. According to Juniper Research, for example, by 2028, the total in-store transaction value for biometric payments is expected to reach $1.2 trillion across 46 billion biometric-enabled transactions globally. While that’s already impressive, there is still enormous growth potential.
The problem is, adoption is starting to outpace trust. A recent study published by the Identity Theft Resource Center (ITRC), revealed that while nearly 90% of respondents had been asked to provide a biometric to verify their identity in the past year, nearly two-thirds expressed serious concerns about doing so. Moreover, 39% went as far as to say that the use of biometrics should be banned for both identity verification and/or recognition.
Consent First Design
So, what can be done to close this trust gap and help ensure biometrics are used across fintechs as a more secure alternative to passwords and PINs? One area that requires more emphasis is consent-based design. Whereby users are given clear and revocable permission regarding how their biometric data is collected, stored, and used.
In practical terms, a consent-first design could resemble a digital wallet that provides users with clear, active choices regarding the use of biometrics. During setup, biometric authentication is optional and switched off by default. The app explains what data is collected, where it is stored and how to disable it later. During the payment process, all matching occurs locally on the device, rather than in a central database, and independent certification confirms compliance with data protection standards.
These processes must also be designed so they continue to act in the best interests of users. For example, consent should be viewed as an ongoing decision, rather than a one-time formality. Users must be able to revisit and change biometric permissions at any point and without difficulty. Settings should not be buried under layers of menus and options. They should be readily available so that users understand they are in control at all times.
Biometric Authentication
For example, if a user decides they no longer want to use biometric authentication in their payment app, they should be able to switch that functionality off with a single action. In these circumstances, the app immediately reverts to PIN or password authentication, so access isn’t disrupted. At the same time, any biometric templates held on the device are securely deleted.
If the user chooses to close their account entirely, the deletion workflow should extend to all associated data, so nothing is retained unnecessarily. Users should then receive a notification that their biometric identifiers are no longer stored.
Even these relatively basic processes can help put users in a much stronger position to understand and control the use of their biometrics. And don’t forget, this isn’t just a nice-to-have; it is increasingly a regulatory requirement issued by the EU and other authorities worldwide. GDPR is a good example, as it classifies biometric data as a special category of data and prohibits processing it unless explicit consent or another lawful basis applies.
Closing the Trust Gap
Let’s be in no doubt: trust (or the lack of it) is a real problem across the payments ecosystem. Including those organisations that rely on biometrics. In many current environments, a persistent trust gap, uneven implementation and mixed user experiences show that compliance alone does not guarantee confidence. Better progress now depends on practical execution, clear communication at the point of use, and systems that make data handling visible and auditable. Collectively, these processes can help reassure people that organisations are doing the right thing consistently and for the right reasons.
As a result, transparency and education are now key to improving confidence, ensuring users understand how their biometric data is protected and how they can stay in control. For many FinTechs, this requires a shift in mindset, where transparency is seen as a core product feature, rather than an afterthought or compliance tick box. With consent first design principles in place, users should be regularly reminded about where their biometric data resides and how to delete it.
Additionally, regular external audits or certifications help demonstrate accountability and ensure FinTechs operate to recognised standards. Granted, relatively few consumers are likely to study the fine details, but the act of being credibly audited is an important contributor to the way consumers build trust.
Trust as a Competitive Advantage
In these circumstances, trust can actually evolve into a competitive advantage. Transparent payment systems and processes will always face fewer adoption barriers, fewer customer complaints and possess stronger reputational resilience in the event of incidents. Ultimately, the more open and consistent the provider, the more users adopt and stay engaged. In markets where penetration is still low, a consent-first design and a focus on trust will reassure users that they will always remain in control of their data. Encouraging increased adoption of newer, seamless payment methods.
Regardless of how you look at it, the need for change is becoming increasingly urgent. Biometric payments are evolving beyond single-factor models toward richer, multimodal processes that introduce a combination of fingerprints, facial recognition, voice patterns and behavioural signals. As these capabilities mature, they will be applied in a wider variety of payment contexts, ranging from in-store to remote authentication and open banking apps.
This will only serve to heighten expectations around transparency and user control. In this environment, consent-first design does more than support regulatory compliance; it lays the foundation for future adoption by building systems that are flexible enough to accommodate new biometric methods without compromising user trust. As consumers become more digitally savvy and accustomed to a culture where switching between service providers is relatively easy, building trust in biometrics will contribute significantly to FinTech success.
Marcin Glogowski, SVP Managing Director for Europe and UK CEO at Marqeta, on empowering businesses in the UK
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FinTechs have long supported consumers, with the modern iteration of consumer innovations beginning in the UK in the early 2000s with the launch of the Faster Payments network in 2005. The first peer-to-peer lending platform started in the same year. And in 2007, the UK became one of the first markets to introduce contactless cards. Small and medium-sized businesses (SMB) lending and payment innovation has paled in comparison.
SMBs are the backbone of the UK economy, generating an impressive£2.8 trillion in revenue every year. Yet despite their critical role, they remain underserved when it comes to financial support.Only £62.1 billion in business loans were issued in the past year (45 times less than SMBs contribute to annual revenue) highlighting just how difficult it can be for SMBs to access the funding they need to grow. This funding gap limits not only individual businesses but also the wider economy that depends on their success.
While FinTechs have poured innovation into consumer products, revolutionising everything from budgeting apps to buy now, pay later (BNPL), SMBs have largely been left behind. This is despite the fact that SMB lending represents one of the fastest growing opportunities for financial organisations.
A report earlier this year by Boston Consulting Group (BCG) highlights that we are on the cusp of a revolution not dissimilar to the one seen decades ago in mortgages, with technological advancements playing a key role. The demand for more efficient payments, smarter cashflow tools and flexible funding solutions is accelerating. Yet many businesses still find themselves navigating outdated systems and slow, manual processes.
The issue is not that SMBs do not see the value in modern financial tools. In fact, they are ready to invest. According to our recent Marqeta 2025 State of Payments report 90% of UK SMBs surveyed said they would pay higher upfront costs for tools that deliver long-term savings and efficiency. What SMBs really want is simplicity, speed and control. They are not emotionally invested in payments themselves – they are invested in running their businesses as efficiently as possible.
A striking finding from the Marqeta report reveals that nearly half (42%) of UK SMB owners still use personal cards to fund business expenses, citing higher credit limits and better rewards as the motivator behind this practice. This reveals an opening for payment solutions to meet businesses with credit solutions that are tailored and personalised to their specific requirements. Smart, data-driven underwriting models that look beyond traditional credit scores and reward businesses.
The SMB Payments Frontier
FinTechs have made great strides in improving financial experiences for individuals, but in doing so, may have missed the mark when it comes to understanding the unique needs of business owners. For SMBs, payments are not just a transaction.
As Marqeta’s findings highlight, UK SMBs increasingly view payment tools as strategic assets rather than mere utilities. From social commerce trends to rewards programs and digital asset management, businesses are seeking solutions that actively contribute to the growth and efficiency of their organisations. Payment providers that offer real-time, flexible tools that reward customers for their engagement are best positioned to capture this rising demand and untapped potential.
Payments are the lifeblood of their operations, tied to cashflow, customer experience and long-term growth, with 52% of UK SMBs surveyed, as part of the State of Payment report, viewing payments as a tactical lever helping them streamline expenses, boost operational efficiencies, and free up cash flow. When payments work seamlessly, business owners can focus their energy where it matters most, serving their customers and growing their businesses.
Beyond payments alone, SMBs are looking for platforms that provide actionable insights and preventative measures that pre-empt major issues. Solutions that anticipate cashflow gaps, suggest repayment plans and automatically identify funding opportunities. The shift from reactive to proactive financial management offers SMBs a market advantage and, critically, represents a new dawn for how fintechs can support their growth.
Connecting the Dots
That is why bridging the gap between payments and funding represents such a powerful opportunity. Embedded Finance is already starting to move the needle, allowing SMBs to access credit directly through their payment platforms. This integration can transform payments from a passive process into an active growth driver. Imagine a world where a business processing card payments automatically receives insights into cashflow, credit opportunities or flexible repayment options tailored to its transaction history.
By combining real-time payment data with intelligent lending models, FinTechs can deliver funding at the point of need, not through laborious processes that may take weeks or months later. This kind of agility can make the difference between a business thriving or merely surviving. It also fosters financial resilience and trust, helping SMBs weather economic fluctuations with greater confidence in their suppliers and improved control.
Too often, the financial world can feel overly complex and fragmented for small businesses. Many rely on multiple providers for banking, payments, invoicing and credit, creating a patchwork of tools that rarely communicate effectively. Fintechs now have the opportunity to simplify this landscape by creating connected ecosystems that serve SMBs holistically. The future lies in frictionless experiences that combine payments, insights and lending under one roof.
Riding the Payments Wave
For FinTechs, the message is clear. The next wave of financial innovation will be about empowering the businesses that keep the UK economy moving. With the right approach, payment platforms can deliver more than convenience. They can provide SMBs with the confidence, agility and financial durability they need to thrive in an uncertain world.
As SMB payments take flight, the question is not whether the opportunity exists, but whether fintechs are ready to power the future and support businesses as they navigate the new payments frontier.
Driving Business Transformation Through Cloud & AI
Microsoft’s Shruti Harish, Head of Solution Engineering for Cloud and AI Platforms across the tech giant’s Manufacturing and Mobility vertical, talks to Interface about how to achieve successful AI implementations augmented by Cloud. Our future focused fireside chat covered everything from driving value through cloud modernisation to responsible AI.
“Leaders should align AI initiatives with clear business outcomes and foster a culture that embraces change. The focus is shifting toward AI-operated, human-led models where intelligent agents handle tasks and humans guide strategy.”
Virgin Media O2: Democratising Data as a Cultural Movement
Mauro Flores, EVP for Data Democratisation at Virgin Media O2, talks to Interface about the leading telco’s data journey and how it is supporting colleagues to innovate faster, make smarter decisions and deliver brilliant customer experiences.
“Data-driven insights are essential. They’re helping power our decisions like optimising our network performance, anticipating outages before they happen, identifying and preventing fraud, personalising offers and pricing to build customer loyalty, and forecasting demand so we invest in the right things.”
CIBC Caribbean: Shaping the future of Banking in the Caribbean
Deputy CIO Trevor Wood explains how CIBC Caribbean is blending technology, culture, and customer-centricity to deliver seamless digital experiences across the region with a ‘Future Faster’ strategy.
“We want to lead in every market we operate, build maturity across our practices and be architects of a smarter financial future for all.”
And read on for deep AI insights from ANS’s CIO on why AI isn’t just for big business, Emergn’s CTO on how your business can get AI-ready and Kore.ai’s Chief Strategy Officer on taming AI-sprawl with governance-first platforms.
We also hear from Celonis, Snowflake, ServiceNow, Make and Zoom with their tech predictions for 2026 and chart the key dates for your diary with global networking opportunities at the latest tech events and conferences across the globe.
Berkley Egenes, Chief Marketing & Growth Officer at Xsolla, on the future of frictionless payments in gaming and why convenience is king
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From subscriptions to battle passes and in-game marketplaces, today’s video games are just as much about payments as they are about play. But with players now used to lightning-fast experiences, the way money moves in gaming is undergoing a dramatic shift. In this kind of space, one truth stands out: convenience is king.
In 2025, a slow or clunky payment experience can cost more than just a sale; it can cost a player. As global competition heats up, gaming companies are quickly realising the easier it is for someone to pay, the more likely they are to stay.
Players Expect More Than Just Good Gameplay
Video games have come a long way from cartridges and cash registers. With the rise of mobile gaming, free-to-play models, and digital-first ecosystems, the way people pay and what they pay for has changed completely.
But something else has changed, too: expectations. Players now want to make purchases without stopping the game. No long card forms, no redirects, no confusing fees. Just a quick tap, swipe, or confirmation, and they’re back in the action. It sounds simple, but delivering that kind of seamless experience is anything but.
It’s no longer just about offering the right content; it’s about removing every hurdle between a player and their purchase. Whether it’s a new skin, currency top-up, or unlocking extra content, the process has to feel natural, safe, and crucially, fast.
Speed, Security, and Staying Power
When payments work well, we barely notice them. However, when they don’t, they stand out for all the wrong reasons.
In gaming, timing is everything. A player sees an offer in the middle of a boss fight, and they want to buy. Yet if they’re forced to pause, enter details, confirm identities, or troubleshoot errors, the moment is lost. Consequently, the sale disappears, and the player might even give up altogether.
Security remains essential, of course. As digital fraud evolves, the challenge is building protections without creating extra friction. Gamers expect secure transactions, but they’re not willing to wait around for them.
This is where payments innovation is starting to shine. Tools like tokenised credentials, biometric authentication, and invisible fraud detection are helping strike that delicate balance between trust and convenience.
For game developers, reducing payment friction doesn’t just boost conversions; it also builds trust. A smooth first transaction can turn a casual user into a loyal player. It sets the tone for the entire relationship.
Why Global Games Need Local Solutions
Gaming is a global industry, but payments are still intensely local. What works for a player in California might not suit someone in Cairo or Jakarta, and this is where games can stumble.
Enter Xsolla, a game commerce company that’s quietly powering payment backbones of some of the biggest games worldwide. Xsolla has only one goal: to make it easy for players to pay for the games they love, wherever they are.
Xsolla supports 1000+ local payment methods across more than 200 countries and geographies, from mobile wallets in Southeast Asia to cash-based options in Latin America. This means players can use the payment tools they already trust, without currency confusion, hidden fees, or extra friction.
For developers, it’s a game-changer. Xsolla handles regional taxes, compliance, and localization, making global reach feel simple. The result is that more players complete purchases, higher conversion rates, and greater long-term retention.
In a global gaming world, going local is no longer optional – it’s essential.
Embedded Payments are the New Normal
Imagine spotting a new item in a game and buying it instantly, without ever leaving the screen. No redirects, no passwords, no second devices, just one click and it’s yours. This is the point of embedded payments, and it’s quickly becoming the gold standard.
Rather than treating payments as something which only happens outside the game, developers are increasingly building them right into the experience. Whether that’s a virtual wallet, an in-game currency, or a checkout button inside the character menu, the goal is still the same: to make the payment feel like part of the gameplay.
It’s not just about a better experience for players; it also unlocks new possibilities for game economies. Players can trade items, gift content, or top up in real time, without ever breaking immersion.
Even more complex technologies like blockchain and NFTs are starting to be embedded in this way. Platforms like Immutable, for example, are working to make digital asset ownership feel as simple as buying a power-up, no crypto know-how required.
Web Shops: Gaming’s Direct Line to Players
A growing number of game publishers are launching web shops – standalone sites where players can buy in-game currency, cosmetics, or exclusive offers directly, outside traditional app or platform stores.
Why? It’s partly about revenue. Many major platforms can charge up to 30% in fees, but developers can offer better prices and keep more of the profits.
It’s also about control. Web shops allow for tailored promotions, local pricing, loyalty rewards, and a wider choice of payment methods – all without platform restrictions. But the experience still matters: web shops must be fast, secure, and mobile-friendly to meet modern expectations.
As regulations evolve, expect web shops to become a key part of the payment strategy – quietly reshaping how games are monetized beyond the app store.
The Future of Payments
Gaming is no longer just about graphics, storylines, or even community. It’s also about experience and that includes how players pay. Get the payment experience right, and you gain more than just revenue. You gain loyalty, trust, and longevity. Get it wrong and players won’t wait around for you to fix it.
Convenience isn’t just king, it’s the kingdom. In gaming, it might just be the most powerful weapon of all.
Peter Daunton, Chief Product Officer at Sokin, on why embedded B2B banking has flown under the radar and why that’s about to change
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CFOs are discovering that embedded finance isn’t a feature upgrade, it’s an economic engine. The companies embedding payments, foreign exchange, and financial operations into their platforms aren’t just smoothing workflows. They’re turning cost centres into direct revenue sources. In B2B, where transaction volumes and values dwarf consumer markets, the opportunity is measured in basis points that add up to millions.
The Fragmented Finance Problem
Modern B2B commerce runs on surprisingly fragmented financial infrastructure. A typical platform operator juggles multiple payment processors, separate FX providers, standalone reconciliation tools, and disconnected reporting systems. Each integration point adds cost in vendor fees, manual processing, and error correction. More critically, fragmentation destroys visibility. When financial data lives across siloed systems, CFOs can’t see real-time transaction flows. It’s tough to understand true unit economics, or identify margin leakage until month-end reports surface it.
This complexity has historically been dismissed as “the cost of doing business.” But as platforms have matured and competitive pressure has intensified, CFOs are asking harder questions. Why are we paying multiple vendors to move the same money? Why does reconciliation require a team of three people? And most pointedly: Why are we treating financial flows as overhead when they could be revenue?
Automation Unlocks the Business Case
Embedding financial capabilities consolidates fragmented workflows into a single operational layer. The immediate benefit of this is cost reduction. Platforms replacing point solutions with embedded infrastructure typically see reductions in vendor fees. Furthermore, automation of reconciliation and reporting can eliminate entire FTE allocations. Transaction error rates drop dramatically when money movement, FX conversion, and ledger updates happen in a single system rather than requiring manual data shuttling between platforms.
But cost savings, while compelling, are just the entry point. The strategic opportunity emerges when platforms recognise they’re not just using financial infrastructure, they’re controlling it. And control of financial rails means control of monetisation.
From Cost Reduction to Revenue Generation
When a B2B platform embeds payment processing, cross-border transfers, or working capital financing, something fundamental shifts: financial operations become a P&L line. The platform captures value at every transaction touchpoint.
Payment acceptance generates processing margin, business cards generate interchange, foreign exchange generates spread; all direct revenue that previously went to external processors.
Beyond transaction fees, embedded finance enables new revenue models. Float on customer balances generates interest income. Automated reconciliation and real-time reporting become premium features. Transaction data – properly anonymised and aggregated – provides market intelligence that’s monetisable through analytics products. Platforms with deep payment data can even offer embedded lending, using transaction history as underwriting data to extend working capital financing at attractive rates.
Why CFOs are Driving the Conversation
This economic reality explains why embedded finance discussions have migrated from IT roadmaps to boardroom strategy sessions. CFOs evaluating these integrations aren’t asking “does this improve user experience?”, though it does. They’re asking: “What’s the payback period? How much revenue per transaction? What’s the impact on unit economics?”
The answers are increasingly favourable. Embedded finance implementations in B2B typically show ROI within 18-24 months, faster than most enterprise software deployments and with better margin profiles. For high-volume platforms, payback can be measured in quarters.
More strategically, CFOs recognise that embedded finance fundamentally changes competitive positioning. A platform that can offer seamless cross-border payments, instant settlement, and integrated reconciliation isn’t just improving automation for the business, it’s also driving more predictable cash flow on repayments for suppliers or enabling market leading payment terms to customers. And in B2B markets where customer acquisition costs are high and sales cycles are long, retention economics matter enormously.
The Infrastructure Question
None of this works if the underlying infrastructure is fragile. B2B transactions involve larger values, more complex approval workflows, and stringent regulatory requirements. Platforms can’t afford the checkout failures or compliance gaps that might be tolerable in consumer contexts.
This is why successful B2B embedded finance implementations treat infrastructure as a first-order concern, not an afterthought. They’re built on banking-grade rails with redundancy, real-time monitoring, and automated compliance checks. When a $2M cross-border payment needs to clear in 24 hours across multiple regulatory jurisdictions, the system either works flawlessly or it destroys customer trust.
The platforms winning in embedded B2B finance understand this. They’re not bolting payments onto existing workflows, they’re architecting financial operations as core platform capabilities, with the reliability and visibility their customers’ CFOs demand.
The Strategic Imperative
Embedded finance in B2B has moved beyond experimentation. The unit economics are proven, the technology has matured, and customer expectations have shifted. Businesses that treat financial capabilities as strategic infrastructure rather than vendor-managed utilities are seeing both cost structures and revenue models transform.
For CFOs, the question is no longer whether to embed finance, it’s how quickly they can make it a profit centre.
Lyall Cresswell, Founder & CEO, TEG on how integrated payments are unlocking growth for SMEs in the UK’s £170bn transport and logistics sector
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Consumer fintech is booming. From instant payments to embedded finance, digital innovation has transformed how individuals manage money, access credit, and transact with businesses. Yet in B2B markets, embedded finance adoption remains stubbornly low. The question is: why?
Instant settlement alone doesn’t solve this problem. But when combined with embedded compliance it transforms how fragmented B2B markets operate. This infrastructure enables large enterprises to scale their supplier bases from dozens to thousands while giving SME carriers immediate access to working capital, all without personal financial risk.
The answer becomes clear when you examine the UK’s £170 billion logistics sector. Employing over 8% of the workforce, it’s a low margin industry ripe for financial innovation, but in reality, highly fragmented with many SME operators. Large operators at the top of the supply chain are simply unable to verify, onboard and manage large networks of suppliers through traditional methods. This creates delays and friction. I’ve watched this dynamic play out over 25 years building TEG. Smaller operators tell us the same story: ‘I need money now, not next month’. Cash flow isn’t just an inconvenience, it’s existential.
The barrier isn’t payment speed alone. It’s trust at scale. Integrated payment networks, combining instant settlement with embedded compliance and verification, create the infrastructure that enables these fragmented markets to operate differently.
Why Embedded Compliance is the Missing Link for B2B FinTech
Large enterprises don’t limit themselves to a small pool of known suppliers by choice. They do so because onboarding and compliance costs make broader collaboration prohibitively expensive. Each new supplier relationship requires verification of insurance, licensing, VAT status, and payment setup. This friction doesn’t just slow things down, it fundamentally constrains supply chains.
Recent research we conducted across six leading UK third party logistics providers (3PLs) revealed the scale of this challenge: 83% audit fewer than 10% of their subcontractors annually, and only 33% use eSourcing technology. These aren’t signs of negligence. They’re symptoms of a system where verification and onboarding are simply too resource intensive to scale.
Traditional payment solutions, from early payment programmes to invoice finance, address cash flow symptoms but miss the fundamental barrier. Without infrastructure to verify and onboard new trading partners confidently, enterprises remain trapped working with familiar suppliers even when capacity constraints or cost pressures demand alternatives. Meanwhile, SME carriers aren’t just delayed in payment, they’re excluded from opportunities entirely.
This dynamic turns large enterprises into inadvertent gatekeepers, not by choice, but because they lack the infrastructure to safely open their networks. The result is a continuous loop: constrained supplier choice for buyers, limited market access for SMEs, and a fragmented sector unable to collaborate efficiently. The solution requires rethinking the relationship between payments and compliance entirely. Integrated payment networks, embedding compliance verification directly into payment workflows, solve both problems simultaneously.
Building Trust Infrastructure Through Verified Payment Networks
The breakthrough comes when payment infrastructure and compliance verification integrate seamlessly. At TEG, we’ve built this through SmartPay’s integration with Trustd, our digital identity verification platform, embedding compliance directly into payment workflows.
The model is straightforward: carriers are verified once through real time checks of KYC, AML, VAT status, operating licences, and insurance credentials. Once verified, they can transact across the entire network. This “verify once, transact everywhere” approach removes the need for repeated onboarding across different customers or business units.
The operational impact has been significant: 90% faster invoice processing, 80% fewer supplier queries, with over 1 million invoices paid through the platform in 2025. By year end, the TEG rollout will connect 2,500 customers with 7,500 suppliers, demonstrating adoption at scale across the logistics sector.
But the real transformation lies in shifting from credit based to transaction based finance models. Many carriers have historically relied on credit cards and overdrafts to bridge cash flow gaps, costly stopgaps that eat into already thin margins. Traditional invoice finance excludes many SMEs because lenders must manage risk without transparency, often retaining portions of invoice value and demanding personal guarantees.
SmartPay changes this by leveraging verified transaction data to provide instant, non recourse access to full invoice value minus fees. No retention, no personal guarantees, simply immediate working capital based on actual trading activity. This unlocks early payment facilities for carriers who previously had no alternative to expensive short term credit.
This creates powerful network effects. As more carriers join the verified payment network, enterprises gain confidence to work with a broader supplier base. More suppliers mean better capacity, more competitive pricing, and greater resilience. For SME carriers, verified status opens doors to opportunities previously out of reach.
Verification Infrastructure and Working Capital Access
It’s crucial to understand that verified payment networks operate on two distinct but complementary tracks.
Unlocking working capital addresses the SME challenge. In a sector where margins run as low as 2% and payment cycles stretch to 90 days, liquidity is existential. Without working capital, SMEs can’t hire staff, expand capacity, or invest in growth. They’re forced to choose clients based on payment terms rather than strategic fit.
Instant settlement delivers immediate access to working capital for wages, fuel, and expansion. The UK Small Business Plan identifies late payments as one of the biggest barriers to SME growth—instant settlement directly addresses this constraint, enabling carriers to accept larger contracts and scale their operations.
These two tracks reinforce each other. Enterprises gain access to a larger, verified supplier base. SMEs gain both market access and the working capital to serve those opportunities effectively. The result is a more efficient, collaborative market structure.
The Fragmented Market Opportunity
While logistics provides the proving ground, this model applies to any fragmented B2B sector where compliance complexity limits collaboration. Construction, facilities management, and professional services all face similar dynamics: thin margins, extended payment terms, high onboarding friction, and SME suppliers excluded from opportunities.
The key requirement is neutral, collaborative infrastructure that provides a standardised verification model without competing with participants. In sectors where supplier qualification is straightforward, instant payment alone may suffice. But in regulated industries with complex credentialing requirements, verified payment networks become essential infrastructure.
The value isn’t in handling compliance alone. It’s in creating a trusted, shared layer that all participants can use without concern that the platform itself will compete with them.
The transformation only occurs when you solve both problems simultaneously: enterprises need neutral, trusted verification infrastructure to expand their networks confidently, and SMEs need instant settlement to operate sustainably within those networks. In fragmented markets where no single player can create industry wide standards, this shared infrastructure becomes essential. Address one without the other, and you’ve solved neither.
Trusted Collaboration at Scale
The narrative around embedded B2B finance needs reframing. It’s not about faster payments. It’s about removing the friction that prevents enterprises and suppliers from working together effectively—it’s about enabling trusted collaboration at scale. True transformation happens when payment infrastructure, compliance verification, and transaction transparency operate seamlessly together to unlock cash flow and expand market access for both sides.
Across TEG’s network of over 9,000 logistics businesses, we’ve seen how verified payment networks can reshape fragmented markets. Large enterprises can finally collaborate with the breadth of suppliers their operations demand. SME carriers can access opportunities and capital previously out of reach. The entire sector operates more efficiently.
This is the path to unlocking B2B embedded finance adoption: build infrastructure that solves the whole problem. Verify once, transact everywhere, and unlock cashflow. When enterprises can open their networks confidently and SMEs can operate sustainably within them, you create the conditions for genuine market transformation.
The technology exists. The business case is proven. We’ve demonstrated it works at scale. The question now is which sectors will move first to build the trust infrastructure their markets desperately need.
Abdenour Bezzouh, Chief Technology Officer at myPOS on how AI is revolutionising FinTech from reactive to proactive solutions
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AI is significantly changing the way small and medium-sized businesses manage their finances. In the UK, the number of SMEs adopting AI tools has increased 32-fold between 2022 and 2024. Meanwhile, average spending on AI tools has risen nearly sixfold over the same period. Once seen purely as a tool for automation, AI now plays a much more proactive role. It helps businesses anticipate cash-flow gaps, prevent fraud, and deliver more personalised customer experiences.
As the technology becomes more embedded, one question looms large. How do we ensure that automation strengthens, rather than replaces, the human relationships at the core of financial services? The answer lies in designing AI to improve human decision-making. Forward-thinking FinTechs are leveraging AI to build trust, enable inclusion, and prevent issues before they ever reach the customer. This shift, from reactive problem-solving to proactive service delivery, represents one of the most significant evolutions in digital finance.
At myPOS, we’re focused on designing AI to augment human decision-making, enabling our teams to intervene where empathy, context, or judgement is needed. For example, our AI flags unusual transactions in real-time. But instead of automatically blocking them, it alerts our human teams, who can access the situation and act with the right context.
From Reactive to Proactive: The New Standard in Trust
For decades, financial services have operated reactively: a transaction failed, then a customer called; fraud occurred, then an investigation began. AI makes it possible to reverse that logic. By analysing transactions in real time, algorithms can detect unusual patterns that may signal fraud or technical disruptions. This alllows companies to act before the customer even notices a problem.
This proactive approach is becoming central to trust in the FinTech industry, both in the UK and globally. It prevents disruptions, reduces disputes, and allows businesses to run more smoothly. The same principle now applies to onboarding, where document verification and compliance checks that once took days can now be completed in minutes with AI-assisted tools. When technology removes unnecessary friction, users feel more confident that their financial services will ‘just work’.
Augmenting, Not replacing, Human Judgement
Although AI can process information faster and with more accuracy than any human, it lacks emotional intelligence. In fact, a survey found that nearly 70% of UK consumers say AI chatbots fail to understand emotional cues. While AI can identify anomalies in data, it cannot detect the frustration in a customer’s voice or the urgency behind a small business owner’s request. The future of FinTech clearly depends on improving the speed and accuracy of human decision-making.
A common mistake organisations make when deploying AI is focusing on the wrong metrics. Success is often measured solely by ‘deflection rates’, or whether a bot resolves an issue without human intervention. This approach overlooks the true indicators of quality service: first-contact resolution, customer trust, and the likelihood that users will recommend the service. Prioritising these outcomes leads to AI supporting meaningful experiences rather than just reducing manual workload.
Ethics and Transparency
As AI becomes a key driver of financial decisions, ethical responsibility must be treated as a core design requirement. The principles of fairness, explainability, and accountability need to underpin every aspect of an AI system, from data collection to deployment.
For example, transparent decision-making allows customers to understand why a transaction was flagged or a decision made, turning AI into a trust-building tool rather than a black box. At myPOS, for example, every on-device decision is explained and complimented by a ‘request human review’ button. By clicking it, merchants are redirected to a live analyst within two business hours. Crucially, human oversight is needed to interpret AI outputs, make contextual judgments, and intervene when automated systems may misclassify or misrepresent a user’s situation. Ultimately, AI ethics is foundational to trust, which only humans can fully maintain.
A Smarter Relationship with Customers
AI’s predictive capabilities are also changing the fundamental nature of customer relationships. Instead of responding to problems, FinTechs can now anticipate them: identifying cash-flow gaps before they occur, suggesting actions to improve financial stability, or alerting users to potential risks early.
This proactive intelligence significantly enhances trust, shifting interactions from transactional to consultative. It empowers small and medium-sized businesses to make data-driven decisions that once required dedicated financial teams, while freeing human representatives to focus on higher-value conversations – those that demand empathy, judgment, and nuanced understanding.
Personal, Prediction, and Human
The next phase of FinTech innovation will be defined by how seamlessly AI blends automation with personalisation. We’re already seeing the rise of conversational commerce, embedded payments, and tailored financial insights delivered directly at the point of sale. As these capabilities expand, so will expectations around transparency, accountability, and empathy in how AI operates.
The future of FinTech is smarter, faster and human centric. AI will continue to handle the repetitive and reactive, but people will remain essential for what truly matters: understanding, trust, and connection. When businesses design AI around these core values – fairness, explainability, and empathy – the technology will strengthen the human relationships that keep the financial world moving.
Chief Operating Officer Bhavna Saraf gives us the lowdown on the genesis of Quidkey and how it is leveraging APIs & AI to transform open banking networks into merchant-ready solutions driving higher conversion and borderless coverage with no-cost simple integration
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Founded in early 2023, Quidkey has quickly established itself as a trusted provider of next-generation Account-to-account (A2A) payments. Also known as ‘Pay by bank’. Leveraging AI-powered bank prediction, instant settlement, and a streamlined user experience, Quidkey has created a bank-branded checkout system powered by Open Banking. It combines refunds, rewards, and real-time settlement bringing together cash flow, trust, and convenience for merchants. Its growth in the UK and EU is now being expanded to service Australia and the US corridors.
Chief Operating Officer Bhavna Saraf met CEO Rob Zeko and CTO Rabea Bader, Quidkey’s co-founders, at the end of her time with Santander. They were pitching Quidkey’s offering to top bank executives. Their vision was ambitious:
Democratising access to bank products amongst its customers through a single channel
Leveraging and monetising its API stack for payments
Providing value add services making open banking usable for businesses
“I remember thinking it wasn’t a standard FinTech pitch,” recalls Bhavna. “It was a real infrastructure story that was additive and complimentary to all ecommerce ecosystem players, merchants, banks, PSPs and consumers. When I began figuring the next steps in my career, Rob reached out. The discussion evolved into a collaboration – the timing was serendipitous.
Rob believes A2A payments are the future of commerce, and merchants deserve simpler, faster and fairer ways to get paid. “We’ve built a model designed to scale responsibly,” he notes. “Bhavna brings the structure and operational depth to help us do just that.”
Rabea is responsible for technology and product at Quidkey. With a seasoned background in technology, he has developed the core engine driving Quidkey’s diverse solutions. These include bank-prediction algorithm, refund automation, and multi-currency settlement, through simple API integrations.
“Our aim is to make the technology invisible,” Rabea explains. “If it feels effortless for merchants, it means we’ve done the hard work well.”
Together, Rob and Rabea laid the foundation. Bhavna’s arrival added the operational layer needed to take Quidkey global.
FinTech Strategy spoke with Bhavna to learn more about her journey. And how her experience is driving Quidkey’s progression across the payments landscape…
Tell us about your approach to leadership at Quidkey… How do you reflect on what has been achieved during your time with the organisation?
Learning has always meant leaning into the unknown. It’s not just about a strategy, but a mindset. Taking on new business lines, exploring unfamiliar customer segments, getting closer to technology, or stepping into entirely new organisations. It’s important to look outside your comfort zone, because that’s where you find growth. Each pivot builds experience equity. The instinct to link problems with solutions, to adapt with nuance, and to lead effectively no matter the context.
It’s the same mindset that underpins my approach to leadership. That it’s not just about hierarchy but influence. Creating an environment where people feel trusted, empowered, and part of something larger than themselves. It’s important to build a feel-good factor where collaboration replaces control and purpose drives performance. Such a philosophy can shape teams and inspire peers. It has helped me forge strong connections across clients, colleagues and ecosystems alike.
What drives and inspires you?
At the core of my journey is a relentless drive to deliver progress. Time is money. And… Impossible is nothing. Those words capture my pragmatism and optimism. Qualities that have guided me from scaling trade finance at Citi, to launching digital propositions at Lloyds, to leading payments innovation and strategy at Santander UK. Each chapter has broadened my perspective and sharpened my instinct for where financial infrastructure is headed next. At Quidkey, I get to bring all I’ve learned from building at Citi Ventures to leading across banks and apply it where innovation and impact truly meet on a day-to-day basis.
Could you share how your extensive experience with the dynamics of payments across your career (Citi, Lloyds, SWIFT, Santander etc) have honed your skills in the space? How is it enabling you to drive positive change in the market through your role at Quidkey?
Across leadership roles at Citi, Lloyds, Santander and HSBC, I built and scaled businesses that fuse technology, finance, and innovation. Taking ideas from zero to one or propelling growth to the next level. The focus has consistently been on unlocking near-term value while shaping future-ready roadmaps aligned with market trends, regulatory change, and evolving customer needs.
Alongside my day job, at Citi, I first experienced entrepreneurship, as the founder of an intra-bank start-up within Citi Ventures’ D10X program. We raised funding, assembled a team and developed algorithms to match clients across the bank’s global network. The project advanced to Seed 2 funding, earning recognition from Citi’s Global TTS CEO and the Head of Citi Ventures.
I caught the founder’s bug. That experience showed me the power of turning an idea into reality. It taught me to balance innovation, risk, and speed. And gave me a deep respect for what it takes to build something new.
Tell us about the genesis of Quidkey and its mission…
Quidkey was born from a simple idea, that merchants should be able to grow with confidence, scale sustainably, and offer customers a seamless payment experience, at home or abroad.
For too long, fragmented rails and card scheme costs have added friction to the payment ecosystem, especially hurting SMBs. Quidkey changes that. Our payment solution requires no change to the checkout experience yet simplifies payment routing, reconciliation, and settlement optimisation behind the scenes.
By cutting out unnecessary intermediaries and using Open Banking rails, Quidkey delivers faster, more transparent and cost-efficient payments, empowering merchants to grow and helping banks realise greater value from existing infrastructure.
This novel approach sets the foundation for what could evolve into a global clearing layer for digital commerce, removing friction, reducing cost, and reshaping the future of payments.
What industry challenges can Quidkey solve?
Payments today are still more complicated than they need to be. Merchants face high fees, chargebacks, and slow settlements, while banks and PSPs struggle to turn their Open Banking investments into meaningful value. The result is a fragmented system that creates friction for everyone.
Quidkey bridges that gap. By simplifying how money moves between banks, fintechs, and merchants, we make payments faster, cheaper and transparent. The outcome is better liquidity and smoother experiences for merchants, stronger customer relationships, and a real return on infrastructure for the banks that power it all.
What benefits are your clients experiencing from Quidkey’s approach to open banking?
Open banking adoption is accelerating fast. There are already more than 15 million UK consumers and small businesses taking advantage of open banking-powered services, generating two billion transactions per month and growing. We expect Open Banking payments to generate about 5x more in global revenue by 2030.
Quidkey is at the centre of this evolution, turning Open Banking into measurable value through intelligent settlements, stronger customer loyalty, and real returns on investment. We optimise payment rails for merchants, enhance efficiency for banks, and keep payments frictionless for consumers.
Why should UK businesses and consumers embrace open banking with Quidkey? How does Quidkey make the cross-border rails more usable so everyone can benefit?
With the rapid global expansion in consumer adoption of A2A payments, global A2A transaction volume is expected to increase by 209% in the next 5 years. From 60 billion in 2024 to over 185 billion by 2029. This growth is driven by cost efficiency, speed, convenience and enhanced security compared to traditional card payments. It is especially prevalent across key markets like Europe, where A2A is a leading online payment method in several countries.
Quidkey offers merchants the ability to seamlessly integrate this new technology and deploy it both domestically and for cross-border purposes, while simultaneously reducing transaction costs by up to 60-70% as compared to legacy payment models:
Consumers enjoy frictionless, bank-authenticated payments with protections
Merchants save on processing costs, increase conversions, and reduce fraud/chargebacks
Banks strengthen customer primacy and democratise access to their products at checkout.
API – Application Programming Interface. Software development tool. Business, modern technology, internet and networking concept.
How easy is it for merchants to deploy Quidkey?
Quidkey offers easy integrations via Shopify plug-in, WooCommerce, or iFrame with set up in minutes… No code and zero impact to existing payment options – just faster payments that generate capital to invest in growth.
With fair fees and no lock-ins, Quidkey’s daily settlement can cut costs and optimise cash flow with product bundles designed for growth. Additionally, Quidkey delivers an Apple Pay–style one-tap experience but over bank rails that reduce fraud and charge back risks.
Talk us through some of the big success stories for Quidkey that will provide a platform for future growth?
Our early priorities focused on go-to-market execution – getting the Quidkey solution in the hands of consumers to iterate and prove product-market fit. Quidkey is among the few companies approved to service Shopify checkout globally.
Additionally, we’ve announced a strategic partnership with Tryp.com to power next-generation ‘Pay by Bank’ travel payments. The collaboration is delivering instant settlement, loyalty rewards, and a frictionless A2A experience – achieving a 12% checkout take-up rate versus <1% for traditional Open Banking solutions. The early data shows strong consumer resonance, with room to grow through education and incentivisation. Quidkey’s tech is industry-agnostic – already extending to sectors like fashion, cosmetics, jewellery, and home goods. And we plan to expand next into globalised B2B payments.
What’s next? What forthcoming initiatives are you particularly excited about for 2025 and beyond…
“The transition from multinational banking to fintech is less of a leap and more of a return. In a bank, you have all the resources but with layers of bureaucracy; in a start-up, full permission but no resources. The goal is to combine both, the creativity of a start-up with the rigour of an institution.
Looking ahead, Quidkey’s focus is clear: scale globally, expand merchant adoption, deepen ecosystem partnerships, and build a sustainable, purpose-driven organisation.
Cross-border commerce remains one of the toughest challenges – yet also the biggest opportunity. Global payment flows reached $45 trillion in 2023 across B2B, e-commerce, and remittances, and are expected to hit $76 trillion by 2030. Still, businesses face high fees, slow settlements, and fragmented rails.
Quidkey is tackling this head-on by building a merchant-facing clearing layer that harmonises domestic and cross-border payments, making it as easy to sell abroad as it is at home.”
Tell us about some of the partnerships Quidkey has forged?
Quidkey recognised the geographical limitations in the A2A payments market presented a significant adoption barrier. It’s an increasingly globalised economy, with existing open-banking providers unable to provide full-service cross-border functionality. So, we’ve been hard at work developing a new payments paradigm with mutually beneficial partnerships to help us deliver on the full potential of globalised A2A payments. Now, with our initial solutions fully tested and our user experience optimised to provide seamless integration across channels, we are focusing on cross-border flows to build out the foundations that will underpin Quidkey as the next generation A2A global clearing house.
For example, our partnership with Transfermate enables cross-border A2A ecommerce, harnessing open banking technology to replace costly card rails with a faster, more efficient model of payments. TransferMate’s global network of payments, receivables, and local accounts will power Quidkey’s merchant offering, enabling instant or near-instant settlement in domestic markets and accelerated cross-border payments worldwide, with a waiting list of 100+ merchants in Australia selling into EU, UK and US.
“We believe execution doesn’t slow down innovation – it amplifies it. I want to make sure Quidkey scales with purpose – fast, but in control, ambitious, yet trusted.”
About Quidkey
Quidkey is a cross-border payments technology company enabling merchants to accept instant account-to-account payments across the UK, EU, and US. By operating alongside existing PSPs rather than replacing them, Quidkey gives merchants a seamless path to lower costs, faster settlement, and higher checkout conversion. Quidkey is simplifying today’s fragmented payment mix (cards/wallets), enabling tomorrow’s open banking corridors, and preparing for the future of tokenised money – capturing the $2.6tn and growing global e-commerce payments opportunity.
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
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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.
Kani Payments CTO Panos Savvas on the next generation of banking and payments and why it’s not just about fast banking but complex banking
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The future of banking won’t be decided by algorithms or apps, but by how well we manage the data that drives them...
For years, ‘next generation banking’ has been shorthand for agility, innovation and a clean break from the technological baggage that constrained traditional institutions. Neobanks and fintech challengers built their reputations on speed, automation and digital-first thinking. Yet as the sector matures at a rapid pace, a more layered picture is emerging.
Despite their reputation for a ‘tech-centric’ approach, many digital banks are discovering that operational excellence is harder to achieve than customer experience. In some of the most critical areas of financial infrastructure, data management, reconciliation and reporting, modern banks are grappling with challenges that feel decidedly old generation.
Of course, this is not a failure of innovation, but a reminder that progress in banking is rarely linear. Building for scale, compliance and resilience inevitably exposes the complexity beneath the sleek surface of digital transformation and in this sense banks aren’t alone with this.
This is a very revealing statistic. While the customer interface has evolved rapidly, the back office hasn’t kept pace. The typical neobank experience may be seamless for users on the surface, but behind the scenes, operations often rely on fragmented data flows, multiple third-party integrations and human oversight.
The mismatch doesn’t make them laggards. It simply highlights a structural truth: automation is easy to market, but difficult to master. Data integrity, not digital branding, is what separates the truly next generation from the merely new.
Data: The Hidden Legacy
Every modern bank understands that clean, reliable data is its most valuable asset. It fuels compliance, supports decision-making and underpins every audit trail. Yet half of neobanks in the same survey said data cleansing was among their most time-consuming reconciliation tasks, with 44 per cent citing auditing and 39 per cent data verification as similar drains on time.
These are not edge cases, they are foundational disciplines. When half of a bank’s operational resource is tied up in validation rather than value creation, the issue is not technology but data governance.
Traditional institutions often blame legacy systems for inefficiency. For fintechs, the challenge is different. Modern platforms are fast to deploy, but when combined across multiple partners without shared data standards, they can create inconsistencies that require manual resolution. The future of finance depends less on speed and more on how consistently that speed produces trustworthy data.
Managing Risk, Not Just Reputation
Errors in reconciliation aren’t just accounting irritants, they’re board-level risks. Half of neobanks pointed to compliance exposure as their biggest concern, with 44 per cent linking data breaks directly to market trust.
That finding alone reflects sector maturity. Modern institutions now recognise that trust is not simply a brand asset but a measurable operational outcome. The firms investing in traceability, explainability and real-time audit trails are also the ones strengthening their regulatory relationships.
It’s important to recognise that regulators are not barriers to innovation. They are collaborators in resilience that want firms to show evidence-based controls. The direction of regulation, particularly under initiatives like the UK’s Consumer Duty and Europe’s PSD3, points toward transparency, not obstruction.
Turning Data into Context
How a bank enriches and contextualises transaction data is a reliable indicator of operational maturity. Yet many organisations, not only neobanks, still have enrichment processes that rely heavily on human intervention. 61 per cent of neobanks manually add metadata to transactions, while only a third integrate third-party data automatically.
That dependence on manual enrichment reflects an industry-wide balancing act. The challenge is not capability but confidence. Integrating external data sources requires robust governance, clear permissions and the ability to trace every enrichment to its origin. For a sector under constant regulatory scrutiny, it’s no surprise that many firms err on the side of caution.
The next step is to make enrichment auditable as well as automated, so that data quality, not data quantity, becomes the competitive differentiator.
The AI Rush
Artificial intelligence (AI) has become the headline act of modern banking, promising to transform everything from fraud detection to credit scoring. Yet there’s a risk in assuming that AI will fix underlying operational inefficiencies.
Across the industry, many are racing to bolt AI onto customer-facing functions while leaving back-office processes largely untouched. Without robust data hygiene, reconciliation and enrichment, AI is at risk of improvising around gaps rather than accelerating truth.
True next-generation banking will emerge not from the adoption of algorithms but from the discipline of data stewardship. When banks invest in consistent, explainable data architectures, AI becomes a multiplier for accuracy and trust, not a mask for structural fragility.
Beyond the Buzz
The phrase “next generation banking” has become so elastic that it risks losing all definition. For some, it means AI-driven services; for others, embedded finance or real-time payments. These innovations matter, but they rest on the same foundational truth of, if the data isn’t right, nothing works as it should.
A bank that can open an account in minutes but takes days to close its books is not yet fully digital. A platform that deploys AI for insights but can’t trace the lineage of its data is not yet intelligent. The goal of next-gen banking should be to make the invisible visible, ensuring that every process beneath the surface is as modern as the experience on top.
The Real Definition of “Next Generation”
It’s easy to imagine next-generation banking as something futuristic and abstract. In reality, it’s about something deeply practical: building systems that make data dependable.
Neobanks and fintech banking began as the antidote to legacy complexity. Their next chapter will depend on how well they tackle their own hidden legacies and the invisible operational debt that lurks beneath every modern interface.
The banks that succeed will be those that blend speed with substance, innovation with integrity, and automation with accountability. In the end, the only kind of innovation that endures is the kind that accelerates truth.
Our cover star Scott Gunther, General Partner at IAG Firemark Ventures, reveals how the company is bringing powerful investments to…
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Our cover star Scott Gunther, General Partner at IAG Firemark Ventures, reveals how the company is bringing powerful investments to life to transform the ways insurance is delivered.
Scott Gunther, General Partner at IAG Firemark Ventures, tells FinTech Strategy how the company is championing key InsurTech investments to transform how insurance is delivered.
“We realised that if we were going to bring the best of the outside world in, we needed to be a truly global CVC.”
Publicis Sapient
Financial Services Director Arunkumar Gopalakrishnan tells us how Publicis Sapient is developing the playbook for delivering successful AI-led digital transformations across the financial services landscape.
“Working with Generative AI today feels like standing on a new frontier. It keeps us on our toes, but it’s also what drives us – to stay relevant, deliver outcomes and connect both worlds of business and technology.”
Techcombank
Chief Strategy & Transformation Officer, PC Chakravarti reveals the operating model, Data & AI foundations, culture and talent playbook, and the partnerships turning ambition into market leading outcomes at Techcombank in Asia.
“Tech is not the limiting factor – it’s about supporting people and talent to leverage capabilities to enhance business models.”
CIBC Caribbean
Deputy CIO Trevor Wood explains how CIBC Caribbean is blending technology, culture, and customer-centricity to deliver seamless digital experiences across the region with a ‘Future Faster’ strategy.
“We want to lead in every market we operate, build maturity across our practices and be architects of a smarter financial future for all.”
Nationwide
Dan Wilson, Head of Customer Journey at the trusted mutual, reveals the strategic ambition driving payments innovation to modernise Nationwide’s platform delivering a resilient and secure financial future for customers across the UK.
“We’re seeking to modernise the Society’s core infrastructure but also build the tools and features our customers need to help them manage their money and payments.”
Chief Information Officer, Jan Bouwer, explores the work Alexforbes has undertaken to modernise and expand its financial services for its 1.2 million members and retail customers alike. “Alexforbes can now engage its 1.2 million members more directly, offering a wider range of services.”
Johannes Kolbeinsson, CEO and Co-Founder of PAYSTRAX, on how retailers can protect themselves and their customers from fraud
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According to Bloomberg, if cybercrime were a country, it would rank as the world’s third-largest economy. Behind only the United States and China. And it’s growing. By 2027, global scams are projected to cost the world $23 trillion annually, with one in three people likely to fall victim. Already in the UK, a financial scam occurs once every fifteen seconds on average.
It is within this backdrop that Black Friday and Cyber Monday have become an increasing focus point for both retailers and scammers. Every year, the digital shopping frenzy grows bigger, faster, and more sophisticated. And so do the criminals who exploit it.
Black Fraud-day
Behind the flashing banners of ‘limited-time offers’ and ‘doorbuster deals’ a quieter threat lurks in the shadows of the checkout page: digital payment fraud.
As customers rush to click ‘buy now’ fraudsters blend into the chaos, exploiting high transaction volumes and confusing customers with highly sophisticated fraud techniques. What was once a celebration of online convenience has, for many businesses, become a test of their cybersecurity resilience.
This year, the true cost of Cyber Monday and Black Friday may not be measured in discounts, but in data breaches, chargebacks, and lost trust.
The Warning Signs
While many expect issues like stolen cards or hacked accounts, one of the most easily overlooked threats actually comes from genuine customers who know how to game the system.
Friendly fraud, often called chargeback fraud, is when a customer makes a legitimate purchase but later disputes the transaction to claim a refund. High-volume periods like Black Friday create the perfect cover for this, as retailers process thousands of orders at speed and struggle to keep track of every proof of delivery. Because it is hard to prove intent, merchants often lose both the product and the refunded payment.
Another issue that rises sharply during major sales events is card-not-present (CNP) fraud, where stolen card details are used to make online purchases. With such a large jump in transactions during Black Friday and Cyber Monday, fraudulent activity becomes harder to identify because it blends into the surge of genuine spending. Without a physical card involved, it is easier for fraudsters to bypass standard security checks, especially if retailers remove friction to create a faster checkout experience.
Retailers also need to look out for account takeover (ATO) fraud, which has been increasing as more people shop through accounts and apps. Criminals use stolen login details to access customer profiles, change passwords, redeem loyalty points or use stored card information to make purchases. Beyond the financial loss, ATO attacks can seriously erode customer trust. Which is even harder to recover than the lost revenue.
How Retailers Can Protect Themselves Against Fraud
Protecting customers and safeguarding revenue does not have to come at the expense of a smooth shopping experience. The key is to strike the right balance between security and convenience, especially when order volumes surge over Black Friday and Cyber Monday.
A good starting point is tightening defences around online payments. Simple measures can go a long way. Strong Customer Authentication and Address Verification Services can help spot suspicious activity early, without placing unnecessary friction on genuine shoppers. For higher value orders or anything that feels ‘off’, a quick email or phone check with the customer can prevent a costly chargeback later.
Strengthening account security is equally important. Criminals often rely on weak passwords or reused login details to break into customer accounts and make purchases with stored cards or loyalty points. Encouraging customers to use strong, unique passwords and offering multi-factor authentication can dramatically reduce the chances of an account takeover. Retailers can also set up alerts for unusual behaviour, such as repeated failed logins or access from unfamiliar locations, so genuine customers can be protected before damage is done.
Friendly fraud is harder to prevent because it often comes from legitimate customers rather than malicious actors. That makes clear communication your best defence. Transparent returns and refunds policies, visible during checkout and in order confirmations, help avoid confusion that later turns into a dispute. Keeping thorough records of fulfilment, including delivery tracking and proof of receipt, gives retailers the evidence they need to challenge any questionable chargeback claims. Small touches, such as using a clear and recognisable store name on bank statements, can also reduce “I don’t remember this transaction” disputes.
Ultimately, the most effective approach is ongoing, not seasonal. Setting up a simple chargeback management process helps retailers learn from disputes, identify patterns, and ultimately reduce risk.
Where Now?
As the Cyber Five weekend continues to redefine global retail, it’s also redefining the tactics of digital criminals.
The same tools that make online shopping faster and more convenient, saved payment methods, one-click checkout, loyalty programs, have become new frontiers for exploitation.
For merchants, staying ahead means more than offering the best deals; it means securing every step of the digital customer journey. By investing in layered security measures, promoting account vigilance, and maintaining transparent communication with customers, businesses can turn the tide against fraudsters.
The goal isn’t just to survive Cyber Monday and Black Friday, it’s to build the kind of trust that lasts long after the sales are over. Because in the evolving world of e-commerce, security isn’t a seasonal strategy – it’s a year-round commitment.
Niamh Kingsley, Founder & CEO of the the post-digital consultancy firm ace, on the Quantum future for financial services
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Just last week, I sat across from a head of engineering at a major city-based bank and asked about their quantum preparedness. His response? “As far as I’m concerned, that’s science fiction.”
From my perspective, this view is definitely misguided. But more concerning, it’s also really prevalent. Despite some senior leaders dismissing quantum as a distant concern, their organisations are already exposed to quantum-enabled threats, and their competitors are quietly positioning for advantage.
Breakthroughs from the likes of IBM, Google, Rigetti, and Quantinuum show the ten-year timeline is a mirage. The quantum threat is not future tense. It is present and accelerating. In the race for computational advantage, the largest institutions are already in the lab. In the race for security, the threat actors are already in your network.
The time for planning is over, and the time for migration is now.
The Security Imperative: Your Data is Already at Risk
When we talk about the quantum threat, we’re primarily talking about Shor’s Algorithm. On a sufficiently large, fault-tolerant quantum computer (CRQC), Shor would break the public-key cryptography (RSA and most ECC) that underpins many secure protocols and systems, including virtually every secure digital communication and transaction globally.
But here is the critical point: the impact doesn’t start on the day a CRQC goes live; it began years ago the with ‘Harvest/Store-Now, Decrypt-Later (HNDL/SNDL)’ attack vector, where adversaries record encrypted traffic today to decrypt it once quantum capabilities arrive. (Symmetric cryptography like AES is affected differently by Grover’s algorithm, and it is generally mitigated by larger key sizes.)
Why ‘Harvest Now, Decrypt Later’ is the Real Crisis
Think about your most sensitive, high-value data:
KYC and client records: Confidential information that must remain private for decades.
Proprietary trading strategies: Models and algorithms that define your competitive edge.
Intellectual property and M&A communications: Data whose confidentiality window extends well beyond the projected arrival of a CRQC.
Sophisticated adversaries, often state-sponsored, are already harvesting vast quantities of this currently encrypted data. They are storing it, bit by bit, waiting for the eventual arrival of a cryptographically relevant quantum computer, which they will then use to decrypt later.
This means that data encrypted today will be vulnerable to breach tomorrow. The shelf-life of your confidential information directly dictates the urgency of your response. Any financial institution that relies on current public-key cryptography to protect data with a retention requirement of five years or more is already compromised in principle.
A wholesale migration to Post-Quantum Cryptography (PQC), algorithms resistant to quantum attack, is the only defence. This isn’t a simple software patch; it’s a foundational re-architecture of your digital trust layer.
What institutions should prioritise: Any data requiring confidentiality beyond a ten-year horizon is at risk. The UK’s National Cyber Security Centre and G7 frameworks explicitly call out finance to begin migration planning now, with several guides targeting 2035 completion for critical sectors.
Inventory everything: You cannot protect what you don’t know you have. Conduct a rigorous, firm-wide audit to map every single instance of public-key cryptography, from TLS certificates and VPNs to digital signatures, PKI, and key management systems.
Focus on the long-lived: Prioritise the migration of systems protecting data with the longest necessary confidentiality (the HNDL targets) and those that are hardest to change (e.g., embedded systems, legacy code, or critical, highly-available infrastructure).
Mandate the standards: Adopt the new, standardised PQC algorithms, such as CRYSTALS-Kyber (for key establishment) and CRYSTALS-Dilithium (for digital signatures), as decreed by global bodies like the US NIST.
Capturing Computational Advantage
But here’s what the industry isn’t telling you: whilst you’re busy securing your systems, there’s a competitive dividend waiting for institutions willing to explore quantum’s computational capabilities.
I’m not talking about vague promises of exponential speedups. I’m talking about targeted, measurable advantages in specific use cases where quantum algorithms demonstrably outperform classical approaches.
Monte Carlo simulations for derivative pricing, XVA calculations, and Value-at-Risk models are obvious starting points. Amplitude Estimation provides a quadratic speedup over classical Monte Carlo, achieving the same error tolerance with exponentially fewer samples. That means shorter calculation windows, faster intraday rehedging, and material energy savings. For path-dependent options or rare-event tail scenarios, quantum approaches offer better resolution of low-probability events without exploding compute budgets.
Portfolio optimisation, collateral allocation, and limit setting are fundamentally combinatorial optimisation problems. Quantum heuristics may deliver quality and latency benefits under complex constraints, including funding requirements, capital adequacy, central counterparty margin rules.
HSBC made headlines deploying quantum algorithms for foreign exchange pricing optimisation. That wasn’t a marketing exercise; it was a proof point that the technology has crossed from research into application.
But, and this matters, we don’t yet have large-scale, fault-tolerant quantum computers. IBM’s roadmap targets approximately 200 logical qubits by 2029. We’re not there yet. Which means the smart play is running parallel tracks: migrate to PQC now for security; experiment with quantum algorithms in targeted pilots to understand future advantage.
The pilot framework should be rigorous. Choose use cases where runtime and tail-risk scenarios dominate P&L. Establish measurement frameworks comparing quantum approaches against equal-error, equal-time, and equal-energy classical baselines. Report outcomes honestly. Build institutional knowledge whilst the hardware matures.
The Competitive Landscape: The Window is Closing
The quantum era is a global, systemic shift. It is a dual-sided challenge, an existential security risk and an unprecedented performance opportunity.
We are entering a phase of hyper-competition. The market is already separating into two distinct groups:
The value capturers: These are the institutions that have already established quantum governance, initiated PQC pilots, and embedded crypto-agility into their DNA. They will be secure against HNDL, will meet regulatory mandates like DORA, and, crucially, will be the first to operationalise quantum speed-ups in pricing, risk, and optimisation. They will gain an insurmountable performance edge.
The vulnerable and disadvantaged: These are the firms facing “crypto-procrastination.” They risk massive compliance penalties, systemic data theft via HNDL, and the competitive disadvantage of relying on slower, less accurate classical models while competitors price derivatives and optimise collateral in real-time.
The quantum inflection point is not an event on a distant calendar; it is a process happening right now. The firms that act today are building an unbreakable digital fortress while simultaneously designing the algorithms that will define the next decade of finance.
Don’t wait for Q-Day. Secure your future, then innovate in it.
Raman Korneu, CEO and Co-Founder of neobank myTU, on how FinTech innovation can push positive payments progression
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In 2025, you’d think payments would move as fast as the businesses they power. But for many digital-first companies (especially marketplaces, lenders, and online platforms) the basic task of reliably moving money in and out is still a daily struggle.
This shouldn’t be the case. The industry has made huge advances in consumer UX, credit innovation, and embedded finance. But when it comes to back-end operations, FinTech has left too many problems unsolved. The result? A silent drag on growth, unnecessary labour costs, and a persistent erosion of customer trust.
Broken Payments, Broken Business
When payments are slow or opaque, everything suffers. Vendor payouts get delayed. Customer refunds take too long. Internal teams lose hours manually checking for confirmation or chasing missing funds. And while the friction is operational in nature, the consequences are strategic: damaged relationships, regulatory risk, and lost revenue.
Take reconciliation, for example. Many businesses still use spreadsheets to match payment events across bank accounts, payment processors, and internal systems. Others run Slack channels to manually track funds. This makes things slow and leads to a complete lack of real-time, reliable visibility.
This complexity becomes a serious burden when transaction volumes scale. Time zone differences, batch file delays, poor API support, and siloed software can all contribute to failures or mismatches that cause downstream chaos. According to Modern Treasury’s 2025 Payment Operations report, 98% of businesses still run some payment operations manually, and 49% use five or more systems, making reconciliation slow, error-prone, and expensive.
The Core Problem: No One’s Talking to Each Other
It’s not payment initiation that’s broken; it’s what happens after. Money gets sent, but teams don’t know if it landed. Banks don’t notify businesses. Systems don’t talk to each other. In many cases, there’s no real-time feedback loop to confirm what worked, what failed, and what needs action.
This disconnect is a byproduct of legacy infrastructure and siloed design. Most banks don’t expose real-time payment events, and their APIs (when they exist) are often outdated, cumbersome, or not developer-friendly. This leaves businesses stuck in a limbo where payments can go missing, get delayed, or trigger compliance issues, and no one knows until it’s too late.
What Better Systems Look Like
FinTechs are uniquely positioned to solve this, not with dashboards, but with infrastructure that integrates directly into the tools businesses already use.
Plug-and-play APIs and webhooks are the key. When embedded into CRMs, ERPs, and accounting platforms, they can push real-time payment updates exactly where they’re needed. No more spreadsheet-based tracking, and no more switching between portals.
The best systems will feel less like platforms and more like invisible plumbing, meaning that they’re always running, always syncing, always up to date. Businesses won’t want to log into yet another dashboard. They’ll expect payments to “just work” within the flows they already operate in.
Cards Help, But They’re Not the Solution
Modern business cards can improve control on the front end (think: spend visibility, real-time limits, cash flow planning). But they don’t solve the backend challenge of inter-system communication or reconciliation. What’s needed is a shift in how we think about payments infrastructure. We need to insist on and build for clarity and control after the money moves.
Why FinTech Hasn’t Solved This Yet
For years, payment operations have been seen as ‘boring’. That’s why so many startups have chased flashier front-end use cases: crypto, neobanking, buy now/pay later, and super apps. But that neglect is catching up with the industry.
As the ‘Decoupled Era’ of banking continues to fragment the value chain, the complexity of payments behind the scenes only grows. And with instant payments in the EU projected to surge 10x by 2028 (McKinsey), reconciliation needs to happen in real time, 24/7, without manual input.
This isn’t a nice-to-have anymore. It’s an operational baseline.
The Competitive Edge No One Talks About
Payments should be boring, because they should work flawlessly in the background. But for too many fast-scaling businesses, they’re still one of the most complex and error-prone parts of operations.
Ultimately this will create a divide. Businesses that build on flexible infrastructure will outpace and outperform those who constantly hit limits and choose to stick to more manual transaction tracking and the guesswork that comes with it. Pulling ahead of the competition isn’t always a matter of out-innovating them. Smoother operations are a way to steadily and quietly outcompete. Fintech is in the position to build this better, and to give smart businesses the edge they deserve
Raman Korneu is CEO and co-founder of neobank myTU, a fully automated, AI-powered and cloud-first digital bank offering smart, secure, and affordable financial services. With over 25 years of experience in banking, Raman has held senior roles across finance, including consulting roles at Ernst & Young and PwC, where he worked on over 100 projects for over 50 major banks and companies, including Merrill Lynch Securities and Raiffeisenbank. Raman holds prestigious qualifications including an EMBA from Judge Business School at Cambridge University, the prestigious Chartered Financial Analyst (CFA), and ACCA membership. Driven by his passion to tackle problems in traditional banking, Raman leverages his extensive expertise to lead myTU in delivering innovative financial solutions.
PA Consulting’s payments expert Simon Williams on the seismic shift in cross-border electronic payments with ISO 20022
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November 22nd 2025 marks a turning point in electronic payments. ISO 20022 becomes mandatory for cross-border transactions on the SWIFT network. It requires banks to replace traditional payment messages with a larger, data-rich format called MX. At first glance, it sounds like a technical update – something happening at the edge of banks’ infrastructure. But its impact reaches far beyond compliance. ISO 20022 isn’t just a messaging standard. It opens the door for serious modernisation in banking and finance.
A New Era for Payments
For decades, electronic payment messages have relied on formats designed in the 1970s. These are messages with rigid structures, fixed-length fields, and little room for complexity. To convey essential details, banks have often resorted to private codes and workarounds. They are greed between one another to pass on critical information about a payment.
ISO 20022 changes that paradigm, introducing a richer, more flexible, and globally standardised format. This can carry structured data seamlessly across systems. In doing so, it unlocks opportunities for better fraud detection, customer experience, and operational efficiency. These benefits extend not only to banks, but also their clients and service providers across the financial ecosystem.
Firms that haven’t properly prepared for the November deadline risk delays, disruption, and rising costs. With SWIFT charging a penalty for every payment message sent in the legacy format. But beyond compliance, many firms are overlooking the opportunities the change poses. Payments are the lifeblood of a bank, and the data they carry is a strategic asset. So how can firms turn the ISO requirement into a competitive advantage?
Product Owners and Customer Journey Managers
First, banks should use this moment to strengthen their customer journeys. Starting with a deep dive into customer pain points and breaks in the payment flows. This will involve reviewing existing customer journey maps, analysing complaints data, and gathering fresh qualitative and quantitative customer insights to uncover points of friction.
For example, unexpected delays in payments or confusion about correct tax reporting and purpose codes are common issues. Data is often at the root cause of these problems. Which is why ISO 20022’s structured data format can help fix issues. Think how tax and fee codes, transaction references, and other enriched fields could reduce ambiguity and speed up processing. Could this avoid the need for banks to contact clients for further information about the correct coding of payments made? Or prevent clients making complaints about delays and fees deducted? Beyond fixing known issues, firms can also use ISO 20022’s richer data to spot patterns. Such as correspondent banks that consistently slow down transactions. And take subsequent steps to address them.
Money Laundering Reporting Officers (MLROs)
ISO 20022 could also be a game-changer for economic crime prevention in 2026. Anti-money laundering, transaction monitoring, and other sanctions screening relies on interrogating transactional data. And their effectiveness is often only as strong as the data available.
Even seemingly simple improvements to data matter. For example, ISO 20022’s structured fields call for addresses to be stored as distinct elements like ‘street name’ and ‘country code’, rather than the generic ‘line one’ and ‘line two.’ This level of precision makes it far easier to flag suspicious activity, like multiple unrelated accounts tied to the same address, or a mismatch between the street name and country code. In other words, ISO 20022 equips banks with the granular data needed to fight financial crime more effectively.
Legal Entity Identifiers (LEIs) add another layer of value, enabling a specific organisation to be uniquely and consistently identified across borders, which could streamline KYC and sanctions screening processes. However, two challenges stand in the way: legacy platforms may not support ISO 20022 data, and other banks may not send useful data if it’s not mandatory, such as LEIs for non-financial institutions.
Overcoming these hurdles requires a proactive approach, with banks understanding the potential, prioritising technical upgrades that deliver the greatest compliance benefits, and collaborating with other banks and payment schemes to encourage richer data exchange. The payoff? Reduced compliance burdens and a stronger defence against economic crime.
Bank Enterprise and Data Architects
Bank enterprise and data architects have a key role to play in helping other functions understand the richness and potential value of the ISO 20022 format. Today, many banks translate data into and out of ISO 20022 as payments move through their systems. A process that introduces risk and inefficiency. Extending ISO 20022 structures deeper into internal systems avoids these pitfalls.
Updating customer-facing channels to capture payment instructions in an ISO-compliant format will ensure alignment with the structure of messages transmitted by the bank, avoiding the risks inherent with translation. It will also enable future changes, like annual updates to mandatory fields, to be implemented more easily.
Thinking of ISO 20022 as a bank-wide data standard opens the door to reducing complexity and preserving data integrity. Ultimately, ISO 20022 can be used to better describe customers, their addresses, and the relationships between parties in a transaction. While it’s only required at the boundary of a bank – where payments are sent to or received from central infrastructure – aligning internal systems with the standard unlocks additional benefits, creating a more open, flexible banking system.
Corporate Treasurers and Finance Teams
Looking beyond banks, ISO 20022’s benefits extend to customers, corporate treasurers, accounts payable, and accounts receivable teams. Improved reconciliation, better liquidity management, and greater transparency in payment processing are all within reach. ISO 20022 makes it possible to embed detailed information directly into a payment, down to the invoice line-item level. That level of precision could eliminate misallocated payments or stop transactions from bouncing back because they can’t be reconciled.
Many ERP systems already support ISO 20022 for both payment initiation and receiving confirmations and statements, making it possible to transmit and receive this enriched data. But success depends on collaboration across the entire payment chain. Customers should be encouraged to embed remittance data into their payments. Banks should ensure this information flows intact through their systems and into payment networks. And IT teams may need to upgrade ERP platforms or enable the use of ISO messages. When everyone plays their part, payments become faster, smarter, and far more reliable – turning payment operations from a source of friction into a driver of value.
FinTechs
Fintechs have a natural advantage when it comes to ISO 20022. With fewer legacy constraints, they can embed the standard into their platforms from the ground up – most have been ‘ISO-native’ from day one. The question now is how to turn that technical strength into a competitive edge.
Consider looking across the customer ecosystem – and internally – to identify opportunities to outperform the competition and deliver benefits to customers. From delivering richer data insights to enabling faster, more transparent payment experiences, firms that move beyond compliance will stand out in an increasingly crowded market.
Moving Beyond Compliance
The November deadline marks the end of the readiness phase: most banks have ensured compliance at the boundary, where systems connect to payment schemes. But the real work is only beginning.
ISO 20022 should not be seen as a technical mandate. It’s a new language for financial information, one that can unlock efficiency, transparency, and innovation across the ecosystem. We are now entering the most exciting phase; the point where true business benefits can emerge. Has your organisation considered where those opportunities lie?
Paul Clarke, Chief Growth Officer at Cashdflows, on how payments infrastructure can support both trust and scale
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The UK’s game of skill, competition and raffle sector is undergoing rapid transformation. While data on the sector is limited, UK Government analysis indicates that 14% of UK adults collectively spend a total of £1.3 billion per year. For comparison, 44% of adults spend an estimated £8.2 billion annually on the National Lottery.
The same report shows an upward market trajectory with 60% of operators anticipating an increase in ticket sales over the next three years, while only 5% expect a decline. When it comes to the players themselves, 22% have increased their spending in the past year, outpacing the 17% who have reduced theirs.
Against this backdrop of sustained engagement, fair access to effective payment solutions is essential to support competition among merchants.
The Payments Layer of Trust and Scale
As operators mature, they must balance commercial growth with strong operational integrity. Unlike purely entertainment-driven apps, these platforms are rooted in real-money participation, whether through entry fees, prize payouts, or both. This heightens expectations for merchants and consumers around security, compliance, and player protection.
Payments infrastructure therefore becomes a fundamental line of defence. Tools such as Strong Customer Authentication (SCA) and two-factor authentication (2FA) provide robust safeguards against fraud, account compromise, and unauthorised transactions, reinforcing trust with both consumers and regulators.
Enhanced checkout features also play a significant role. Pre-populated payment details and secure card-on-file capabilities streamline repeat purchases, reducing manual errors and checkout abandonment. Click to Pay and network tokenisation support secure one-click transactions, improving conversion performance while ensuring PCI compliance.
Real-time fraud analytics, velocity checks, and dynamic transaction routing help maintain strong approval rates and minimise friction, ensuring legitimate users enjoy a smooth and reliable payment experience.
From Back-Office Burden to Brand Advantage
Payments were once viewed purely as a back-end process, a necessary function behind the scenes. Today, they are a frontline driver of user experience and commercial differentiation. Deposits and withdrawals bookend the player journey, so speed, transparency, and seamless execution boost satisfaction, reduce churn, and can become pivotal to brand advocacy.
In a high-volume environment where microtransactions dominate, even brief delays or failed payments can quickly damage trust. Conversely, efficient transactions turn reliable payments into a competitive advantage – one that encourages repeat play and referrals.
Powering the Platform Economy of the Future
The broader creator and competition economy is still in its infancy, with new formats emerging at pace but what unites them is a reliance on secure, scalable, and accessible payment systems. What those that succeed will have in common is whether those payment systems can support growth while maintaining compliance and safeguarding trust. As investment continues to flow into the sector, the platforms that thrive will be those that view payments not just as operational plumbing but as a strategic asset.
Paul Clarke, Chief Growth Officer at Cashflows, has a wealth of experience successfully leading product, business strategy, and innovation functions in the payments, eCommerce, and digital sectors. He was previously Executive Vice President for Product and Innovation at international payments solutions provider: Network International. Prior to this, Paul held leadership positions at key payment organisations, such as Barclaycard, Elavon, and Worldpay. Having joined Cashflows in 2021, Paul is responsible for leading the product proposition, strategy, go to market and delivery functions of the business.
About Cashflows
Cashflows is a new breed of FinTech payments company that makes it easy for small corporates and SMEs to accept card and digital payments – online, in store and on the move.
Through its own acquiring platform and gateway, Cashflows provides a safe, secure ecosystem for processing payments right across Europe. Cashflows products and services are built with the latest technology and the future in mind, always to meet the specific needs of partners and customers.
Robert Kraal, Co-founder of Silverflow – a cloud-native payments platform designed to reduce cost and complexity while enabling innovation – examines the future for merchants and digital payments
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There are dozens of examples of companies, and even whole industries, that have failed because they simply weren’t aligned to what people wanted. Nobody in 1985 was desperate for Coke to taste different. In 2001 no one needed a self-balancing electric scooter. And nobody in 2021 needed to have their ownership of JPEG images recorded on the blockchain. The history of business contains many instances of ideas that seemed to emerge fully formed from the minds of their creators rather than as responses to genuine needs.
The payments industry might not make as many headlines. However, it is just as full of companies that don’t seem to address any real need on the part of merchants. Too many providers build technology in search of a market, rather than starting with a clear understanding of the challenges merchants face.
As payments evolve, that misalignment becomes more visible. Merchants today operate in an environment defined by thin margins, rising costs, and fast-changing customer expectations. Payment Service Providers (PSPs), PayFacs, acquirers, and processors that fail to adapt risk losing touch with what truly matters. Enabling merchants to grow their business efficiently, securely, and globally.
So, what do merchants really want from their payments technology – and how can the industry close the gap between expectation and delivery?
Beyond ‘Just Getting Paid‘
At first glance, payments can appear to be a simple utility. Money goes in, money goes out. Merchants want to get paid quickly and cheaply – and nothing more. But that view misses the larger strategic role payments play in business operations.
Cost certainly matters. With corporate bankruptcies at a fourteen-year high and economic uncertainty still weighing heavily, cashflow is critical. Even a small reduction in processing fees can make a difference over time. But “low cost” doesn’t automatically equal ‘good value’.
Think of it like buying cheap shoes: they may save money upfront, but if they wear out quickly, the total cost of ownership is higher. The same principle applies to payments infrastructure. The right technology can reduce friction, improve customer experience, and unlock new revenue streams. Far outweighing a slightly higher transaction fee.
For many merchants, payments are not just a back-office function but a strategic lever. The ability to expand into new markets, optimise acceptance rates, or adapt quickly to new consumer payment preferences can directly influence growth.
What Merchants Say Frustrates Them Most
Across industries, merchants face a familiar set of pain points when dealing with payments providers. These often include:
Lack of transparency and control over fees
Slow onboarding and inflexible contracts
Poor technical support and inconsistent service levels
Limited access to useful payment data and analytics
Outdated systems that make innovation difficult
In short, merchants feel constrained by legacy processes and opaque systems that fail to match the agility of their wider digital operations.
What Merchants Want Now
To move beyond seeing payments as a commodity, providers must understand the specific outcomes merchants are trying to achieve. In practice, that means focusing on five key areas:
Higher Acceptance Rates and Fewer False Declines
Every false decline represents lost revenue and potential long-term damage to customer loyalty. According to Aite-Novarica, merchants lose billions each year to legitimate transactions mistakenly flagged as fraudulent.
Often, these issues arise from outdated or overly rigid risk rules, or from poor visibility into the transaction lifecycle. Merchants need access to data and tools that help identify patterns, adjust rules dynamically, and balance security with customer experience. Smarter fraud management – not just stricter – is key to protecting revenue.
Faster Access to New Payment Methods
The payments landscape is diversifying rapidly. Account-to-account (A2A) transfers, Buy Now Pay Later (BNPL), mobile wallets, and super-apps are reshaping how consumers pay.
For merchants, staying relevant means supporting the methods their customers actually use – without long integration times or complex vendor dependencies. Providers that can onboard new payment types quickly and seamlessly give merchants a crucial competitive advantage.
Simplified Cross-Border Payments
Global expansion is a natural ambition for digital-first businesses, but cross-border payments remain a major operational headache. Local regulations, currency management, and consumer habits vary dramatically between markets.
Merchants want simplified access to local payment methods, along with dynamic currency conversion and compliance tools that minimize friction when operating internationally. A provider that can simplify this complexity – through unified access to multiple schemes and currencies – creates tangible value beyond simple processing.
Intelligent Payment Orchestration
Many large merchants now work with multiple acquirers and payment processors to optimise cost, performance, and redundancy. But without an orchestration layer to intelligently route transactions, they risk inefficiency and downtime.
Modern payment orchestration platforms can automatically send each transaction through the most cost-effective or reliable channel in real time. That capability depends on robust infrastructure – not a tangle of APIs and patches. Merchants increasingly expect their providers to offer orchestration as a native feature, not an afterthought.
Modern, Cloud-Native Infrastructure
This is where the real bottleneck lies. Many PSPs and acquirers still operate on systems designed decades ago – architectures built for a different era of commerce. They’ve been maintained with patches, middleware, and manual workarounds that make innovation slow and integration difficult.
Merchants now expect cloud-native systems that are modular, scalable, and API-driven. Platforms that deliver real-time data visibility, analytics, and adaptability – allowing merchants to build and evolve without being constrained by legacy code.
Providers that cling to old systems risk not just technical debt, but strategic irrelevance. Payments infrastructure should be an enabler of innovation, not an obstacle.
Rethinking the Infrastructure Layer
The issue isn’t that modern payment solutions don’t exist – they do. The problem is that too many are bolted onto outdated foundations. Layering new features onto old systems is like fitting a Formula 1 engine into a 1970s chassis: technically possible, but structurally unsound.
The future of payments lies in rethinking the infrastructure layer entirely. That means building platforms that are natively cloud-based, flexible by design, and ready to integrate with tomorrow’s technologies.
Modern infrastructure enables:
Faster onboarding and deployment
Greater transparency into transaction data and fees
Easier compliance with evolving regulations
Continuous innovation without system downtime
This shift isn’t just technical – it’s strategic. It’s about giving merchants the confidence that their payment systems can scale with them, wherever their business goes next.
A New Standard for Payments
The payments industry has reached an inflection point. Merchants no longer see payments as a commodity or cost centre – they see them as a growth driver. Providers that continue to build products in isolation from merchant needs will fall behind.
Success will come to those who build with a merchant-first mindset: reducing barriers, improving performance, and enabling future growth.
The question for every PSP, PayFac, and acquirer is no longer “What features can we add?” but “Are we ready to deliver what merchants actually need?”
About Silverflow
Silverflow is a new kind of payment processing platform designed for today’s payment needs and fit for the future. A cloud-native solution with a single API to the card networks. One platform with one connection. Reducing cost and complexity, easy to use, data-rich, Silverflow frees you to innovate. Find out more at silverflow.com
Co-founder Robert Kraal is one of the few people in the world with over 20 years of experience in online payments.
After completing his degree in Geophysics, he started his career at Bibit, the first global Payment Service Provider (PSP) which was acquired by RBS/Worldpay. At RBS/Worldpay he went on to lead account management, before moving on to Google Netherlands. He joined Adyen in 2010 in the role of COO, where he was responsible for building and running the global acquiring and processing service.
As the Business Development lead at Silverflow, Robert is responsible for maintaining relationships with the card schemes, acquirers, PSPs and regulators.
Elina Rayberg, Principal at Valar Ventures, on the changing face of payments across the FinTech ecosystem
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Wise’s exploration of a UK banking license is more than a single company milestone; it’s reflective of a significant, wider industry trend. Fintechs are no longer content to operate on the periphery of payments; they are stepping out of the shadows to compete directly with traditional banks. The implications for the payments ecosystem are profound.
Expanding Beyond the Payments Value Chain
For many years now, fintechs have added various components to the payments value chain. From BNPL, cross-border transfers, embedded payments and beyond, building financial infrastructure that allows businesses to integrate simpler, varied payment options for consumers has been a lucrative and innovative industry, one that’s attracted swathes of investment.
Until very recently, these fintech players haven’t felt a need to expand into more consumer-facing, traditional banking settings, and particularly not the need to tackle the various compliance and capital requirements needed to become a bank. This is changing.
Wise’s Strategic Move
Wise is a payments giant. It already operates at a global scale, with over 10 million customers and billions in transfers each quarter. By seeking a banking license, Wise is demonstrating an ambition to move beyond payment infrastructure and offer regulated financial products such as savings and credit. This would open new revenue streams while strengthening its position as a consumer brand, not just a payments rail.
A Broader Competitive Landscape
Wise is part of a wider movement. Revolut has been pursuing banking licenses in both the UK and US. Block (formerly Square) holds a banking charter, whilst both Stripe and Apple have partnerships with Goldman Sachs to offer banking products and services. Together, these moves illustrate a convergence: fintechs expanding into regulated banking, while incumbent banks adopt fintech-driven product strategies to protect market share.
The Full-Stack Future
The movement of both fintechs into the banking space and banks integrating fintech product strategies is reshaping the payments ecosystem in real time. Broad advances in technology since the inception of banking and financial services mean that it is entirely possible for one platform to operate as a full-stack digital bank proposition.
Traditional banks, challengers, and neobanks are all racing to execute on this opportunity, though with varying degrees of success, often constrained by regulation and the complexity of scaling financial infrastructure.
Regulatory Implications
As fintechs edge deeper into banking, regulators face the challenge of adapting rules to a landscape where the line between payment providers and banks blurs. This presents both opportunity and risk. Companies that can scale responsibly within regulatory frameworks may unlock significant advantage; those that outpace their compliance capabilities risk severe consequences.
Looking Ahead
Fintechs have historically been content to capture slices of the payments market. Today, signals suggest they are preparing to compete head-on with traditional banks. Non-bank firms that successfully leverage technology, regulatory approval, and customer reach stand to evolve into diversified, full-stack financial institutions, reshaping the future of payments in the process.
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
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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.
This year marks the 10th anniversary of FinTech Connect. The UK’s largest FinTech conference and exhibition, bringing together over 5,000 global attendees from across the financial services and technology landscape.
FinTech Connect
For a decade, FinTech Connect has been the launchpad for the ideas, partnerships and technologies driving the evolution of digital finance. It’s where banks meet breakthrough platforms. Where startups connect with major buyers. And where leaders across digital transformation payments, regtech, financial security and blockchain converge to shape what’s next.
In 2025, we’re scaling up. With 100+ exhibitors, seven world-class conference tracks, live demos and the return of the Start-Up LaunchPad. This year’s event will deliver more connections, more innovation and more opportunity than ever before.
Join us to celebrate a decade of FinTech excellence. And experience the future of finance, powered by cutting-edge tech, real-world insights. And the partnerships that will define the next 10 years.
“FinTech connect is a great place to learn about the latest trends, concerns and enhancements in the FinTech space. Furthermore it is a fantastic opportunity to meet with up and coming companies; or names that you are already in contact with, in one convenient location.”
Nicholas Nicolaides, Associate Director, Barclays
Tokenize: LDN at FinTech Connect
In 2025, FinTech Connect is growing in scale and ambition. For the first time, it will be co-located with Tokenize: LDN, the UK’s leading event for blockchain, web3 and real-world asset tokenisation. Creating a powerful convergence of FinTech and digital asset innovation under one roof.
At Tokenize: LDN, you’ll dive into the latest developments in decentralised finance, custody solutions, tokenised infrastructure and emerging use cases across capital markets. The co-location opens the door to unparalleled cross-industry networking. Connecting FinTech professionals, institutional players and blockchain pioneers in one dynamic space.
Tokenize: LDN is the UK’s leading showcase of the technologies, projects and investment strategies shaping the future of tokenized real-world assets (RWAs). From tokenised treasuries and real estate to on-chain credit, funds, financial infrastructure and more.
Whether you’re navigating tokenisation for the first time or scaling existing strategies, Tokenize: LDN is where serious conversations turn into real-world innovation.
Join asset managers, banks, institutional investors, regulators, custodians, blockchain developers and fintech innovators shaping the future of global capital markets.
Held in London and co-located with FinTech Connect, Tokenize: LDN is where the global conversation on liquidity, regulation, interoperability and institutional adoption comes to life.
Together, these two events offer a unique opportunity to explore the future of finance from every angle. Technological, Regulatory, Decentralised and Institutional.
Register now for free tickets for general access. Join 5,000+ industry professionals for two days of talks, exhibitors and networking.
AccessPay, the leading bank integration provider, has completed the roll out of its SWIFT connectivity solution for Finseta, an international payments…
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AccessPay, the leading bank integration provider, has completed the roll out of its SWIFT connectivity solution for Finseta, an international payments and alternative banking provider. This will ensure a reliable, secure way to process cross-border payments.
To support its global expansion strategy and service-led business, Finseta wanted to launch a new agency banking solution. And improve payment processing automation. It implemented AccessPay’s SWIFT connectivity solution, building a seamless integration between digital currency exchange platform FXPal and Barclays Bank. This enables transparent pricing, automated reporting and analytics, and full back-office-to-bank connectivity.
The four-way project, including Barclays and SWIFT, was implemented in just six months. An impressive achievement for a first-time SWIFT user. Finseta benefits from cost savings, improved competitive advantage and a scalable architecture.
End-to-end workflow automation: A seamless integration between FXPal and Barclays Bank using AccessPay’s SWIFT connectivity through Alliance Lite2 for Business Application service. Payment files are now automatically validated, processed and monitored in real time.
Real-time visibility and reconciliation: Provides Finseta’s customers full transparency into payment status. Along with the ability to instantly reconcile transactions against bank statements.
Seamless customer experience: With AccessPay’s SWIFT capabilities, Finseta created a smooth, efficient experience for its clients. Reducing manual errors and delays.
SWIFT Connectivity
Finseta’s experience shows the value of working with a third-party specialist in SWIFT connectivity. AccessPay’s knowledge ensures smoother implementation and faster issue resolution. Additionally, leveraging a trusted partner helps future-proof Finseta’s payment infrastructure. Making it easier to scale globally and maintain service reliability.
“Of the many SWIFT projects I’ve been involved in over the past dozen years, this has probably been one of the smoothest and fastest. With the service delivered in just six months. I attribute this to the strong four-way relationship. As well as the teams’ motivation and responsiveness, and a well-defined project strategy.”
Tom Livock, Head of Enterprise Sales, AccessPay
“AccessPay did the heavy lifting involved in implementing SWIFT connectivity. The quick route to go-live has meant that we can start realising the benefits sooner than if we built the solution in-house. I’d rather double down on what sets Finseta apart from our competitors, than trying to be an expert in SWIFT.”
Declan Jones, Chief Product Officer, Finseta.
Finseta will use AccessPay’s SWIFT connectivity solution globally for all its customers (high-net-worth individuals, large institutions and corporates).
About AccessPay
AccessPay is a leading provider of bank integration solutions, pioneering finance transformation for the Office of the CFO. AccessPay helps finance and treasury teams modernise their operations through secure, cloud-based bank connectivity. Our platform connects back-office systems to banks, enabling the automated flow and transformation of payment, bank statement and other financial data.
Thousands of businesses around the world partner with AccessPay to automate supplier and client payments. Alongside Direct Debit collections, and bank statement retrieval – improving efficiency, reducing fraud risk, and gaining real-time cash visibility.
Founded in 2012 and headquartered in Manchester, UK, AccessPay is trusted by global enterprises to automate finance and treasury operations and build a future-ready Office of the CFO.
About Finseta
Finseta is a foreign exchange and payments company offering multi-currency accounts and payment solutions to businesses and individuals. Headquartered in the City of London, Finseta combines a proprietary technology platform with a high level of personalised service. It supports clients with payments in over 165 countries in 150 currencies. With a track record of over 15 years, Finseta has the expertise, experience and expanding global partner network to be able to execute complex cross-border payments. It is fully regulated, through its wholly-owned subsidiaries, by the Financial Conduct Authority as an Electronic Money Institution. By the Financial Transactions and Reports Analysis Centre of Canada as a Money Services Business. And by the Dubai Financial Services Authority under a Category 3D licence.
Our round up of the five neobanks best positioned to lead the space in 2026… Nubank (Nu Holdings) Why It’s…
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Our round up of the five neobanks best positioned to lead the space in 2026…
Nubank (Nu Holdings)
Why It’s Likely to Lead in 2026: Nubank already has over 100 million customers in Latin America and is actively pushing into new markets, including applying for a U.S. banking charter. This international expansion, combined with strength in credit, deposits, and FinTech adjacent services, gives it a shot at becoming a truly global neobank.
Risks/Challenges: Breaking into the U.S. (or other mature markets) is tough. Regulatory compliance, competition from domestic digital banks, and local consumer trust are big hurdles.
Revolut
Why It’s Likely to Lead in 2026: Revolut has deep product breadth (multi-currency, trading, credit, crypto, business accounts), and is aggressively expanding globally. It also has strong brand momentum. For instance, it was named the fastest-growing bank brand in the UK. Revolut’s capacity to cross-sell services and innovate puts it in a strong position.
Risks/Challenges: Scalability of regulatory compliance across many jurisdictions, potential regulatory crackdowns, and maintaining profitability with heavy investment costs are key risks.
Monzo
Why It’s Likely to Lead in 2026: Monzo recently crossed into profitability, bolstered by rising interest rates and growth of its lending and subscription services. It also has ambitions to expand beyond the UK into broader Europe and the U.S. As more neobanks are judged by their ability to monetise at scale, that profitability is a strong signal.
Risks/Challenges: Expansion outside the UK will test its product-market fit, regulatory compliance in new regions, and capital backing. Also, competition in the mature markets is fierce.
Bunq
Why It’s Likely to Lead in 2026: Bunq is one of the stronger pan-European neobanks, with multi-IBAN accounts, a broad user base across Europe, and deposit protections under EU frameworks. Its steady growth in deposits and commitment to European expansion gives it a solid foundation in its home turf.
Risks/Challenges: Scaling beyond Europe (or outside the EU regulatory regime) is harder. Also, its earlier ambition in the U.S. seems to have been pulled back, demonstrating how regulatory unpredictability can slow growth.
U.S. Digital Banks
Why It’s Likely to Lead in 2026: While Chime, SoFi, Varo, and others aren’t “neobanks” in the same exact model in all respects, they are dominant digital banking players in the U.S. market. Their deep user bases, product stacks (savings, credit, investing), and ability to leverage scale make them key contenders in the “neobank era”. As the U.S. digital banking adoption continues, one or more of these could claim leadership by 2026.
Risks/Challenges: U.S. regulation, interest rate cycles, competition from incumbents and fintechs, and margin pressures are big challenges. Also, converting free users to revenue-paying ones is an ongoing tension for all these models.
Honorable Mentions / Dark Horses
Starling Bank (UK) — It already has a strong UK presence, though regulatory scrutiny (e.g. fines) is a risk.
Regional & Asia / Africa challengers — Several neobanks in Asia, Africa, Latin America, and Southeast Asia are scaling fast; some may emerge as leaders in their regions (and eventually go global).
Conclusion & What to Watch
By 2026, what will separate the winners from the also-rans are:
Profitability / Unit Economics — It isn’t enough to grow; you need sustainable margins.
Plumery’s expansion, collaborating with Vancouver-based Aequilibrium, brings specific Canadian market capabilities to support credit unions delivery of personalised, compliant, and elevated member experiences
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Plumery, the digital banking experience platform, today unveiled Canada-specific features and integrations giving Canadian credit unions a clear path to deliver personalized, compliant, and modern digital banking experiences.
Canadian financial institutions are facing heightened customer expectations, stiff competition from FinTechs, and growing pressure to modernise legacy systems. These pressures have been amplified by Central 1 Credit Union’s announcement that it will wind down its Forge (formerly MemberDirect) digital banking platform. The system, until recently, served over 170 credit unions across Canada.
This represents both a risk and an opportunity for credit unions. They must now plan for a replacement quickly, and also have the chance to adopt a platform that gives them greater control and the ability to compete on user experience.
The collaboration with Aequilibrium, with their deep knowledge of the Canadian regulatory landscape and user experience design ensures Plumery’s Canadian-ready platform is built around how Canadians, especially credit union members, expect to bank.
Though Canada’s banking sector is among the most advanced globally, many credit unions are held back by outdated infrastructure.
Plumery Tailored for Canadians
Meanwhile, members are demanding hyper-personalised, mobile-first and intuitive digital journeys. To meet these needs, Plumery has localised its platform with out-of-the-box features tailored for how Canadians bank. These include:
Everyday payments and transfers such as bill payments, cheque deposits, and Interac e-Transfers.
Support for Canadian savings and lending products including GICs, mortgages, and student loans.
Business banking capabilities like bulk payments and payroll management.
Compliance and user experience features including bilingual English/French support, privacy and data residency adherence, and accessibility standards.
Ben Goldin, CEO & Founder of Plumery, said: “With Forge winding down, Canadian institutions have a rare opportunity to modernise on their own terms, rather than being tied to outdated systems. Our platform provides an immediate, future-ready option that puts control back in the hands of credit unions. By working with Aequilibrium, we are combining global banking innovation with local expertise to deliver experiences that meet the unique needs of Canadian credit unions’ members.”
Plumery’s Canadian-ready platform is available now, and the company is already in discussions with multiple credit unions evaluating their digital futures beyond Forge.
About Plumery
Headquartered in the Netherlands, Plumery has a 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).
About Aequilibrium
For over 13 years, Aequilibrium has supported small to large-sized credit unions globally, helping them modernize their digital banking, elevate their training practices through VR + AI, and create member-first experiences that leave a lasting impression. They simplify technology, co-create strategies, and deliver personalised experiences that enrich people’s lives.
Wells Fargo and Google Cloud have expanded their strategic relationship to deploy Agentic AI tools across the bank. As an early…
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Wells Fargo and Google Cloud have expanded their strategic relationship to deploy Agentic AI tools across the bank. As an early adopter of Google Agentspace, Wells Fargo is equipping teams with AI agents that will help improve the customer experience, automate routine tasks, and unlock new levels of innovation.
With a strong commitment to responsible AI, Wells Fargo and Google Cloud are focused on modernising financial services and empowering employees with Generative AI solutions to deliver more personalised support and services. This strategic relationship reflects Wells Fargo’s dedication to innovation and transforming how the bank serves its customers.
About Wells Fargo
Wells Fargo is a leading financial services company that has approximately $2.0 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 33 on Fortune’s 2025 rankings of America’s largest corporations. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Embat and MicroFin strategic alliance delivers AI-powered cash management, reconciliation and real-time visibility for finance teams managing complex, multi-entity operations
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Embat, the leading European financial management and treasury platform, has formed a strategic partnership with MacroFin, part of Cooper Parry Digital and the UK’s leading NetSuite Alliance Partner. The collaboration combines MacroFin’s market-leading NetSuite implementation expertise with Embat’s next-generation treasury technology. The alliance will help finance teams tackle the growing complexity of international operations.
MacroFin has been recognised as NetSuite Alliance Partner of the Year since 2021, reflecting its reputation and expertise for delivering the UK’s most complex ERP implementations. Following its acquisition by Cooper Parry, MacroFin has further solidified its position as one of the UK’s premier NetSuite partners.
Facing the Challenge to Transform
As companies scale – particularly in sectors such as SaaS, e-commerce, retail, and hospitality – their finance teams face challenges to transform that outgrow traditional tools such as Microsoft Excel. Multi-currency operations, multiple legal entities, high transaction volumes, and increased regulatory demands. This partnership ensures NetSuite clients have access to Embat’s treasury platform bidirectionally connected to NetSuite, offering:
Real-time cash visibility across accounts and currencies
Advanced forecasting to support strategic planning
Automated treasury operations to streamline day-to-day processes
Seamless NetSuite integration for consistent, efficient workflows
TellMe, Embat’s AI-powered treasury analyst, which enables finance teams to save up to 75% of their time on manual tasks. Freeing them to focus on strategic decision making
Treasury Management
“Treasury management has evolved from a back-office task to a strategic driver of business growth and efficiency. By working with MacroFin, we’re making advanced treasury technology accessible to NetSuite clients who need real-time visibility and automation to manage complexity with confidence.”
Theo Wasserberg, Head of UK&I at Embat
“When clients face complex international and multi-entity challenges, we look for solutions that go beyond NetSuite’s native functionality. Embat’s direct integration and AI-driven automation deliver the clarity and efficiency CFOs need in today’s environment.”
Ross Latta, Co-Founder of MacroFin
This partnership underscores Embat and MacroFin’s shared commitment to innovation in financial technology and toempowering CFOs and finance teams with tools that enhance both operational efficiency and strategic insight.
About Embat
Embat is a leading European financial management and treasury platform that enables finance teams in medium and large companies to centralise all operations from banking relationships to their financial management processes. It allows finance teams to save up to 75% of their time on manual tasks by using TellMe, our AI-powered treasury analyst, so they can focus on strategic decision-making. The main functions of Embat are treasury automation, automated accounting, and payments. Clients experience cost savings (by optimising their working capital management), time savings, reduced errors and an increased quality of life.
About MacroFin with 3RP and the CP Digital Family
MacroFin is a UK-based consultancy specialising in finance-led ERP (Enterprise Resource Planning) transformations centred around the NetSuite platform. Founded in 2018 by chartered accountants, their approach emphasises embedding finance expertise at every stage of implementation. They offer services including NetSuite implementation, optimisation, training, support, and custom development.
In 2024, MacroFin joined Cooper Parry to form CP Digital alongside 3RP and Cloud Orca, creating a digital transformation hub with wider expertise and tech partnerships.
MacroFin has implemented NetSuite for leading brands like Babylon, Depop, PensionBee, and Zego, achieving average go-live in four months.
Integration of open banking technology and digital banking experience platform delivers seamless, standards-compliant customer experiences
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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/
Franklin Templeton and Binance are harnessing blockchain tech to create solutions that merge the scale of traditional finance with the speed and accessibility of decentralised markets
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Binance, the world’s leading cryptocurrency exchange by trading volume and users, and Franklin Templeton, a global investment leader with $1.6 trillion in assets under management, have announced a collaboration to build digital asset initiatives and solutions tailored for a broad range of investors.
Binance and Franklin Templeton Innovating with Tokenisation
The firms will explore ways to combine Franklin Templeton’s expertise in the compliant tokenisation of securities with Binance’s global trading infrastructure and investor reach. The goal is to deliver innovative solutions to meet the evolving needs of investors. By bringing greater efficiency, transparency and accessibility to capital markets with competitive yield generation and settlement efficiency.
“As these tools and technologies evolve from the fringes to the financial mainstream, partnerships like this one will be essential to accelerating adoption,” said Sandy Kaul, EVP, Head of Innovation at Franklin Templeton. “We see blockchain not as a threat to legacy systems, but as an opportunity to reimagine them. By working with Binance, we can harness tokenisation to bring institutional-grade solutions like our Benji Technology Platform to a wider set of investors and help bridge the worlds of traditional and decentralized finance.”
“Investors are asking about digital assets to remain ahead of the curve, but they need to be accessible and dependable. By working with Binance, we can deliver breakthrough products that meet the requirements of global capital markets and co-create the portfolios of the future,” said Roger Bayston, EVP and Head of Digital Assets at Franklin Templeton. “Our goal is to take tokenisation from concept to practice for clients to achieve efficiencies in settlement, collateral management, and portfolio construction at scale.”
“Binance has a record of innovating first-in-crypto solutions that unlock access and opportunities for investors. Our strategic collaboration with Franklin Templeton to develop new products and initiatives furthers our commitment to bridge crypto with traditional capital markets and open up greater possibilities,” said Catherine Chen, Head of VIP & Institutional at Binance.
More details of the collaboration and new product launches will be shared later this year.
About Binance
Binance is a leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users. It is trusted by more than 280 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means. For more information, visit: https://www.binance.com
About Franklin Templeton
Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives, and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.64 trillion in assets under management as of August 31, 2025. For more information, visit: franklintempleton.com
Data from Mangopay’s global fraud detection solution Nethone shows UK online platforms among most frequently attacked countries, driving a 48% year-on-year rise in fraud checks
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New data from Nethone, Mangopay’s global fraud detection solution, reveals online fraud pressure rising to record levels and breaking out of traditional holiday cycles.
From January 2024 to July 2025, monthly inquiries (events assessed for fraud risk such as transactions, logins and sign-ups) grew from around 240 million to over 525 million. More than doubling in 18 months. Peaks landed outside classic shopping windows, notably Sep-Oct 2024 (480m) and set a new all-time high in July 2025 of 525m.
The year-on-year picture tells the same story: between January and July 2025, Nethone processed an average of 470 million inquiries per month, compared to 300 million in the same period in 2024 – an increase of 48% year-on-year.
Nethone’s full risk profiling analyses (“profilings”), which combine device fingerprinting, behavioural biometrics and account history checks, also rose from an average of 110 million per month (January-July 2024) to 170 million (January-July 2025), a 37% year-on-year increase, with an all-time high of 245 million in June 2025.
Geographically, the UK emerges as one of the most targeted hubs for online fraud, alongside France, Germany and Spain. Sector patterns underscore the year-round threat. E-commerce accounts for the majority of fraud events detected across the year. This is consistently driving volumes well above 400 million monthly checks in 2025. Travel and mobility platforms bring in seasonal spikes during summer holidays, while FinTech platforms show sharp surges in specific months, reflecting event-driven criminal activity. Gaming platforms follow a similar pattern around promotional campaigns.
Mark Burton, VP Engineering, Fraud Platform, Nethone
“Fraud is no longer a seasonal threat. Our data shows that criminal activity has become a year-round pressure on UK and European platforms. Fraudsters now exploit promotional cycles and refund windows just as much as traditional shopping peaks. They are becoming more persistent and opportunistic, driving higher costs for businesses and risks for consumers. Online marketplaces, travel providers, and FinTech platforms need to be prepared for a constant baseline of risk, not just one-off surges.”
About Mangopay
Founded in 2013, Mangopay powers a wallet-based payment infrastructure specifically designed for organizations with complex, multi-party fund flows. Our programmable wallet solution optimizes fund management, allowing platforms to regain control over payments, secure transactions, and automate payouts.
By leveraging Mangopay’s end-to-end white-label infrastructure, clients generate additional revenue and enhance operational efficiency while remaining compliant and protected with 360° AI-driven fraud prevention.
With over 250 million end users and more than €130 billion in processed transactions, Mangopay continues to lead in the fintech industry, providing flexible wallets designed to move money your way.
About Nethone, a Mangopay solution
Nethone, a Mangopay solution, is an AI-powered fraud detection system that offers the most in-depth user analysis and precise risk analysis for merchants and fintech companies. The proprietary profiler analyzes thousands of data points for a 360° view of every user, detects fraudulent behavior with 130 signals combined with AI-based models, and keeps companies safe from account takeover, payment fraud, bots, and organized attacks.
Trilliam Jeong, CEO at Wealthblock, analyses the key investment industry trends in 2025 so far…
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Every year the once-staid investment management industry experiences trends in technology, markets, and services that are viewed by many as sure to change the next year’s ways of doing business. Here are three key trends shaping up in 2025… And three from the recent past that turned out to be not-so-trendy.
Trend 1: AI Will Continue to Transform All Areas of Investment Management
Artificial Intelligence (AI), like cloud computing a decade ago, is reshaping the way investment firms acquire, onboard, and manage clients. In 2025, we expect to see deeper integration of AI, providing real-time portfolio insights and automating client communications. Firms will increasingly rely on AI to enhance efficiency and reduce operational costs.
Throughout the past year, leading investment firms have been upgrading their platforms to automate tasks like investor onboarding, marketing, and reporting. This has reduced manual work and human errors. Today, with rapidly advancing technologies like AI and cloud-based solutions, firms are creating customised workflows. These solutions not only benefit clients but allow firms to quickly adjust to changing compliance needs.
Trend 2: Secondary Market Growth
The market for private stakes is likely to expand, offering clients liquidity options beyond traditional public market exits like IPOs. Investors may look to secondary markets for more flexible and immediate exposure to private equity investments. With IPOs remaining limited, secondary market transactions (where private equity stakes are bought and sold) are expected to grow. Both Limited and General Partnership secondaries provide liquidity without requiring a full exit, making them appealing in a market with constrained traditional exit options.
Trend 3: Hyper-Personalisation Through AI
The move toward hyper-personalisation will intensify, with AI tailoring investment firm client interactions to individual preferences. This is crucial for retaining clients in a competitive market. To ensure continues success in 2025, organisations should focus on adopting AI, strengthening their capabilities in secondary markets, and enhancing cybersecurity to protect client data.
Investors now expect quicker, more transparent communication. The state-of-the-art engagement and analytics tools available today have helped reduce delays, but demand for even faster response remains. We foresee further advances in 2025 and beyond.
Beyond these positive trends it is interesting to take note of some oft-hyped predictions in investment technology over the recent past that have not exactly worked out as predicted:
ESG Investing
ESG investing, which gained significant traction between 2019 and 2022, is now witnessing a notable decline. The percentage of new funds labeled as ESG has sharply decreased, and online searches for ESG investing have reverted to 2019 levels.
Tokenisation of Investments
Blockchain and tokenization initially promised a revolution in private investments. But adoption has been slow, primarily due to complex regulations. Firms are now being more selective about blockchain’s real value.
Neobanks and Digital Wallets
Neobanks for private investors have struggled to compete with traditional banks’ digital offerings, leading to a shift in focus. Digital wallets also face security and compliance hurdles in private investment.
AI and Cloud Takes Centre Stage
Generative AI is clearly transforming private equity, with firms exploring AI tools for due diligence, portfolio optimisation, and cost reduction in portfolio companies. While this area is rapidly growing, the high cost and expertise required could limit smaller firms from fully implementing AI solutions across the board.
In 2025, you can expect to see AI more deeply integrated, from real-time portfolio insights to automating investor communications. Firms will likely lean on AI to cut costs and improve response times, making operations smoother overall.
We see the continued investment in AI and Cloud as the overriding trend in 2025. As AI is deployed to help streamline everything from data analysis to investor communication, firms that focus on automating routine tasks will find their team can spend more time on high-level strategy.
The Financial Transformation Summit (FTS), presented by MoneyNext, took place June 18-19 2025 at London’s ExCeL Centre, Royal Victoria Dock. With over 2,000 attendees, 300+ speakers, and 400 roundtables, it stood out as one of the most immersive and interactive events in the financial services calendar.
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FinTech Strategy hit the conference floor at the heart of the action delivering insights from experts across Banking, Insurance, Wealth, and Lending at Financial Transformation Summit (FTS).
Financial Transformation Summit attendees from banking, insurance, wealth, lending, fintech, consultancy, and regulatory sectors convened for two days packed with keynotes, panel talks, immersive demos, and networking among 60+ exhibitors and startups.
Co-located streams – Banking, Insurance, Wealth, and Lending part of themed zones– meant that ticket-holders could explore adjacent sectors fluidly across a guiding theme: culture, collaboration, and customer centricity driving tech adoption and transformation.
Programme Highlights
Keynotes & Panels
1. Data Silos & Cross‑Institutional Collaboration
A panel featuring senior leaders from EVLO, Aon, Schroders, and Brit Insurance tackled how institutions – despite collectively spending over $33 billion annually on data – still struggle to collaborate due to privacy concerns and regulation. Innovative solutions included federated learning, anonymised client IDs and consent-backed APIs.
2. Digital Insurance via Wallets
Anna Bojic (Miss Moneypenny Technologies) unveiled a fresh take on insurance – embedding policy and claim data into Apple/Google Wallets. The idea: dynamic customer interaction directly from smartphone wallets, enhancing real‑time engagement and retention.
3. ESG Economics & Market Reality
Marc Kahn (Investec) challenged ESG orthodoxy, urging firms to emphasise human and planetary wellbeing – beyond purely financial returns – to capture stakeholder trust and sustainable growth.
4. People & Psychological Safety
Kirsty Watson (Aberdeen Group) and Vikki Allgood (Fidelity International) underlined that technological investments are futile without organisational design and psychological safety. Allgood cited a McKinsey study revealing only 26% of leaders build teams with a sense of safety – a critical step toward innovation.
5. Human‑Centred AI
Monica Kalia (Planda AI) championed AI that models individual financial contexts – recognising diversity within demographic cohorts and personalizing services accordingly.
Roundtable Experiences at FTS
At the event’s heart were the TableTalk roundtables – 400+ small-group sessions, each led by a subject-matter expert. These were limited to six participants each, enabling deep, peer-led discussions on themes like:
AI in risk and compliance
Open banking integration
ESG data standards
Cyber resilience
Change management and culture adaptation
Attendees consistently praised their interactive nature – far removed from the stage‑focused “listening” format often critiqued at other conferences.
Demonstrations & Exhibitor Showcase
Over 60 exhibitors presented tech-driven innovations: Generative AI, open‑banking APIs, ESG reporting tools, embedded finance solutions, and more. A few standouts were:
CRIF highlighted AI-powered credit scoring with ESG overlays – promising dynamic risk assessments backed by sustainability data
Emerging FinTechs demoing AI compliance engines, digital wallet insurance packaging, and data-sharing platforms
Hylanddemonstrated the intuitive end-user experience of its Hyland Content Innovation Cloud™ and showed how easy it is to configure, tailor and deploy solutions that can empower key stakeholders across any business
The demo zone allowed engaging, hands-on exploration and real-time Q&As; it complemented the content with practical insights.
Standout Themes & Strategic Insights
1. Tech is Not Enough Without Culture
Recurrent messaging emphasised that culture, trust, governance, and psychological safety are foundational – not secondary – to digital initiatives. Technology alone won’t deliver transformation without a people-first mindset.
2. Cross‑Sector Data Collaboration
Despite heavy investment, institutions still operate in silos. Shared, secure infrastructure and regulatory-aligned frameworks are being prototyped, but broad adoption remains a work in progress.
3. AI-as-a-Personalisation Backbone
AI is shifting from automation to empathy. Organisations showcased tools to hyper-personalise offers yet maintain privacy and inclusion – moving beyond outdated demographic frameworks into genuine behavioural understanding.
4. Embedded Finance & Digital Wallets
Insurance via wallet applications and embedded finance models point to seamless customer journeys – less app hopping, more value delivered at the point of need.
5. Rebalancing ESG & Profit Metrics
Speakers emphasised integrating ESG factors into performance metrics – not just for compliance, but as an operative advantage anchored in long-term stability and stakeholder trust.
Who Should Attend FTS Next Year?
Ideal for:
Transformation and change leaders
CTOs, CIOs, and Heads of Innovation
Data and AI strategists
Operational and HR leaders focused on culture
FinTech innovators and solution providers
If you’re crafting digital transformation strategies, an attuned leader in financial services, or a consultant embedding tech in legacy environments, this summit provides rich, actionable content.
Expect next year’s event to build on this foundation:
More AI-specific tracks, possibly Generative AI streams
ESG deep-dives with case studies on implementation
Expanded regulator involvement around data governance and cross-border compliance
FTS: Final Verdict
Overall, the FTS 2025 delivered on its brand promise:
Interactive and inclusive: 400 roundtables empowered voices across levels.
Cross‑sector learning: Banking, Insurance, Wealth, and Lending streams offered both breadth and depth.
Insightful keynotes: Big ideas on AI, ESG, data-sharing, and culture were well-explored.
Real-world relevance: Exhibitor demos connected theory with practice.
Networking with purpose: Opportunities to engage, learn, and collaborate were abundant.
The Financial Transformation Summit struck a compelling balance between big-picture vision and granular, execution-level insight. It emphasised that while technology enables; culture, customer centricity and collaboration drive real progress. The format – with its roundtables, demos, and keynotes – offered a dynamic platform for knowledge exchange.
If you attended, chances are you left with practical next steps. If you didn’t, you missed one of the most interactive, future-focused events shaping financial services transformation today.
The Card & Payments Awards will be taking place on Thursday 5th February 2026 at the famous JW Marriott Grosvenor House Hotel in Mayfair, London. Entries are open now and close in October… Book your table for the Awards now!
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The Card & Payments Awards remains the longest-standing and leading networking event of the year for the UK and Irish card and payments industry. With over 1100 guests attending on the night, from over 300 different companies, and with a compelling list of blue-chip sponsors. Enter hereand book your tables now.
Recognising Excellence and Innovation in Payments
The Card & Payments Awards has been instrumental in recognising excellence and innovation across the industry from a diverse range of corporations for the past two decades. Each year many eligible organisations compete for one of the prestigious awards which are judged by an independent panel of industry experts. The Awards concludes with its infamous Industry Achievement Award each year.
The Card & Payments Awards are open across the different categories to credit, debit, prepaid and charge card issuers, co-brands, merchant acquirers, payment processors, retailers and other payments companies worldwide who are offering programmes or initiatives within the UK and Irish market. There are a range of categories covering key disciplines and offering organisations the opportunity to showcase all of their achievements.
Why Enter
For over 20 years, The Card & Payments Awards have been recognising excellence across the industry.
Widely regarded as the Oscars of the card and payments world, this is your opportunity to stand out and celebrate your achievements.
An entry gives you the chance to:
Gain recognition from respected industry leaders
Build brand credibility and consumer trust
Increase visibility through press and media coverage
Extensive networking opportunities with senior industry leaders
Demonstrate your commitment to excellence
Assessment by an independent panel of experienced industry judges
Entries are judged on the strength of the submission and how well it meets the category criteria. Categories include: Best Industry Innovation, Best Payment Facility, Best App User Experience (CX Initiative), Best Product Design and the Financial Inclusion Award. Last year’s winners include moneyhub for Open Banking, Dojo for Innovating Customer Service with AI, and Nationwide for Product Design.
Enter hereand book your tables now to celebrate the industry’s biggest achievements, whilst meeting the key players from across the sector.
Matt Whetton, Chief Technology Officer, Acquired.com on the future of payments with cVRPs, AI and vertical integration
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There are three powerful forces shaping the future of payments and how businesses pay and get paid today. Commercial variable recurring payments (cVRPs), AI, and vertical integration. These forces are transforming the way that businesses can interact with their customers. They are still in the early stages of their development. As these technologies evolve, they hold great potential to redefine payments, benefiting both businesses and consumers alike.
cVRPs – recurring commerce done smarter
When open banking is discussed, many people are familiar with options like “pay by bank” at checkout. While this is mostly used for one-time purchases, recurring payments like bills and subscriptions still rely heavily on direct debits. Businesses serving British consumers, who collectively spend almost £30 billion a year on subscription services, face challenges with slow settlements. There are also high fees (especially for failed transactions), and limited customer control.
cVRPs, the latest evolution of open banking, promise to ease many of the challenges. For example, cVRPs enable businesses to securely collect payments from customers’ bank accounts within agreed limits. These include the amount, frequency, or duration, without requiring customers to re-authenticate each time, reducing friction yet increasing optimisation.
In addition to providing the same benefits as ‘pay by bank’ at checkout, such as the convenience of not having to enter your card details and security of not sharing these details with the retailer, cVRPs can unlock new business models for businesses dependent on recurring revenue. The open banking infrastructure which powers cVRPs allows businesses to gather data insights from these transactions. This enables the introduction of offers like dynamic pricing for subscriptions, or variable insurance premiums based on usage. Not only does this help operational efficiency, but it ultimately enhances the customer experience, encouraging them to keep coming back.
Critically, cVRPs are more likely to successfully complete compared to traditional direct debits, as businesses leverage advanced capabilities like smarter retry logic and dynamic payment routing. These are typically implemented by providers offering VRP services. With open banking making real-time account balance checks possible, businesses can determine the best time to retry a failed payment, such as after payday. Dynamic routing enables merchants to route transactions based on pre-defined business rules, such as transaction value, geographic region, or acquirer performance. This flexibility ensures that payments are directed to the most suitable acquirer or provider. Therefore ncreasing the likelihood of successful transactions and optimising cost efficiency. Together, these capabilities help reduce failed payments, keep customers subscribed, and increase revenue over time.
However, its nascence means there are still potential threats ahead. Regulators need to learn lessons from the growth of ‘pay by bank’. There are 27 million monthly payments now taking place after a slow start, as well as already piloted sweeping VRPs to ensure a solid business model for open banking. With collaboration from banks, FinTechs, business, and government, the ecosystem can take full advantage of these innovative capabilities to reduce friction.
AI/ML’s transformative impact
The advances in AI and machine learning (AI/ML) are written about every day. So, it’s perhaps no surprise that they are having a profound impact on how businesses process payments, detect fraud, and improve customer service. AI’s ability to process large volumes of transaction data efficiently helps businesses identify patterns, trends, and anomalies that would otherwise be difficult to detect.
Not only does this capability benefit fraud prevention, but it can also help businesses gain meaningful insights from the data. Allowing them to expand their service offerings. For example, businesses can apply AI/ML to automate tasks enabled by open banking, such as income verification, affordability checks, and financial health scoring. This helps speed up onboarding and approval processes. Meanwhile, giving consumers access to more sophisticated services. These include spend forecasting, budgeting nudges, and alerts for unusual activity, thereby helping them manage their money more effectively.
Looking ahead, AI/ML will be central to unlocking the full potential of open banking. By improving operational efficiency and enabling richer customer experiences, AI will help businesses transition from reactive to proactive financial services. Currently, the best use cases for AI are assistive, not autonomous. AI is at its most powerful when it augments human decision-making, particularly in nuanced or regulated environments. We’re still early in the maturity curve. As the technology becomes more affordable and the technology within it more explainable, it’s hard to imagine the full potential impact of AI in the payments industry.
Tailored Solutions
The combination of open banking and AI has led to a more tailored and specialised approach to payments technology, particularly for businesses in specific industries. While these powerful tools offer great potential, it is crucial that they are applied in the right way, at the right time, and for the right business.
To move beyond generic payment solutions, the industry is seeing increasing vertical integration. Instead of simply processing transactions, payment providers must now deliver more comprehensive solutions that address the needs of specific sectors. In industries where payment needs are more complex, vertical integration ensures that payment solutions are tightly aligned with business operations. For example, businesses in the construction sector often require project-based billing and payment systems that reflect the way projects are managed. Elsewhere, hospitality providers need solutions that integrate payment systems with real-time inventory tracking and booking management.
It’s fair to say firms will always be looking for any place to optimise to gain an edge. The trend towards vertical integration, combined with cVRPs, and AI are redefining the future of payments. There is a move away from a technical area of the business, to become a core operational function. Businesses adapting to leverage these technologies are well placed to create stronger connections with their customers and drive long-term growth.
FinTech Strategy meets Ishtiaq M Ahmed, Senior Product Manager – Emerging Tech, Innovation & Ventures at HSBC, to learn more about the future of payments – real-time, cross-border and beyond
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Financial Transformation Summit 2025 EXCLUSIVE
At the Financial Transformation Summit 2025, Ishtiaq M Ahmed, HSBC’s Senior Product Manager, for Emerging Technology, Innovation & Ventures, joined a panel with J.P. Morgan, Revolut, Lloyds and EY to explore how real-time payments, embedded finance and global collaboration are shaping the future of financial services. How are real-time payments reshaping banking infrastructure? What are the regulatory challenges for cross-border payments? How can banks compete with FinTechs in the rapidly evolving payments space? How are digital wallets and mobile payment platforms changing consumer spending behaviours?
We spoke with Ishtiaq after the session to explore what drives HSBC’s approach to innovation, how customer expectations are evolving, and why trust remains at the core of transformation.
Hi Ishtiaq, tell us about your role at HSBC?
“I work on Global Product within HSBC’s Emerging Technology, Innovation & Ventures team. Our focus is to deliver next-generation propositions, particularly across payments, embedded finance and frontier technologies. We work on horizon 2 and 3 initiatives, with a view to turning emerging ideas into viable, scalable solutions. The goal isn’t just to experiment. It’s to test, validate and shape innovations that will help us serve customers better and redefine how financial services operate in the years ahead.”
It’s a transformational time for payments with the rise of open banking and a national vision for the UK. Give us your overview…
“Payments is possibly the most loved area by both FinTechs and banks. A lot of what is happening in payments, it’s where a lot of meaningful innovation is already landing. It’s no longer theory or ideation, its practical and accelerating. The UK’s National Payments Vision is ambitious, and rightly so. But ambition needs alignment. We need stronger collaboration between Banks, FinTechs, Regulators and infrastructure service providers. This journey will take time and coordination. It’s more a marathon than a sprint, and we’re only just getting started.”
Why is this an exciting time for HSBC?
“Simply because the way technology has penetrated our lives and the influence of technology on how banking is evolving are very closely knitted. Technology is no longer on the edges of banking; it’s embedded in every customer interaction.”
What trends are you seeing across the Financial Services landscape? What will be important for you and your customers?
“The shift towards alternative payment methods is one I feel strongly about. For decades, the path was linear: cash to cheque to card. Now, we’re entering a new chapter. Pay by Bank, or direct account-to-account payment, is gaining traction. Some regions have already scaled it. In the UK, it’s about to accelerate. This trend will unlock lower costs, faster movement of money and better control for users. It’s not just about technology. It’s about user experience and future-ready infrastructure.”
What other pain points are your customers experiencing that you need to address? What are they asking you for help with? How are you meeting the challenge?
“I think for customers it’s very simple. As a customer myself, I look for speed, ease, and simplicity in everything that I do. That’s universal. But what makes it complex today is the influence of AI, automation and data. People want innovation, but not at the expense of trust. So, while we innovate, we keep trust as the anchor. The real test is whether customers can do more, faster and easier, while still feeling their money is protected and their experience is safe. That’s the balance we aim to strike.”
Tell us about a recent success story…
“We’re particularly proud of the work we’re doing on embedded payments. The goal is to make payments feel invisible – integrated into the environment the customer is already in. Whether that’s a retail website, a social app or a business platform, customers shouldn’t have to toggle across apps to complete a payment. We have already launched products in this space, and we’re continuing to build. It’s about making banking ambient – present where the customer is, not where the bank wants them to be.”
Why do you think the evolution of collaboration between banks and FinTechs is set to continue? What are you excited about?
“FinTechs bring urgency and imagination. Banks bring trust, infrastructure and scale. The opportunity is not in competing, but in co-creating. We have seen some encouraging partnerships, and we’re still working at the surface level. There’s a much deeper layer of value if we can move beyond tactical deals into genuine joint innovation.”
Why Financial Transformation Summit? What is it about this particular event that makes it the perfect place to embrace innovation? What’s the response been like for HSBC?
“Events like this are important because they bring together different voices with a shared interest in shaping the future. What stood out to me is how open the audience and panellists are to challenging ideas and exploring new perspectives. These are places where real conversations happen; where you meet regulators, banks, FinTechs and enablers all under one roof. It’s these intersections that move the industry forward.”
About HSBC Emerging Technology, Innovation & Ventures
HSBC Emerging Technology, Innovation & Ventures team is a global group of technologists, data scientists and venture specialist dedicated to shaping the banks future capabilities. Our goal is to deliver world class digital-first banking across HSBC’s global footprint.
Our mission is to drive meaningful innovation across the organisation by identifying and unlocking opportunities that enhance customer experience, improve operational efficiency and embrace disruptive technologies.
Our approach is rooted in experimentation, rapid prototyping, continuous iteration. By working closely with both internal and internal partners and external collaborators, we test and refine new ideas, prioritising solution that are scalable, impactful and aligned with the needs of our customers.
We actively partner with leading technology firms, FintTechs, academic institutions and policy makers to stay at the forefront of digital innovation and accelerate time to market.
By combining the scale, trust and resilience of HSBC with agility and mindset of a tech start-up, we aim to nurture transformative ideas, drive strategic innovation and shape the future of banking.
Our cover star Rebecca Fitzgerald, Director of Data & AI at Yorkshire Building Society, reveals a digital transformation journey meeting…
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Our cover star Rebecca Fitzgerald, Director of Data & AI at Yorkshire Building Society, reveals a digital transformation journey meeting customers, wherever they are.
Yorkshire Building Society: Data, AI & Inclusive Leadership
Our cover story focuses on the data revolution taking place at Yorkshire Building Society (YBS)… Navigating this journey of change is Director of Data and AI, Rebecca Fitzgerald. Her ambitious vision is to transform the 160-year-old mutual through ethical, human-centred data strategies and AI innovation. In a rapidly evolving digital landscape, she aims to ensure YBS does not just keep up but leads from the front.
“I’m accountable for developing and implementing strategies to enhance data-centricity and drive value from data and AI for our customers and colleagues,” Rebecca states. This directive is grounded in strong governance, positive data culture, and the empowerment of people through data literacy and technological upskilling.”
Tyme Group: Scalable Global Digital Banking
Dietmar Bohmer, Chief Analytics Officer at Tyme Group, on operationalising innovation, cultivating a culture of empowerment and driving transformation from the inside out…
“It’s been wild ride from a technology point of view,” admits Dietmar… Today, that foresight is paying off. The cloud-native architecture has provided Tyme with the elasticity, resilience, and speed it needs to support its rapid growth across emerging markets. “With each new deployment, the organisation has evolved and refined its technological foundation,” notes Dietmar. “When the time came to launch GoTyme Bank in the Philippines, lessons learned from the rollout of TymeBank in South Africa enabled the team to rethink and redesign their stack, optimising for scale, performance, and localised feature delivery.”
ČSOB: A Digital Transformation Journey
ČSOB Slovakia is undergoing a major transformation aimed at future-proofing its technology, enhancing customer experience, and reinforcing its leadership in digital banking. Under the stewardship of its CIO Ludek Slegr, the bank’s IT team is navigating a major upgrade of its responsibility, overhauling core IT systems and implementing agile methodologies to meet its strategic goals. At the heart of this transformation is a focus on delivering value through technology, supporting people development, and fostering sustainable innovation.
“The next step for digital-first is continuous improvement of straight-through processing ratio, i.e. reducing involvement of manual work in our processes.”
Money20/20 Europe
FinTech Strategy also reports from the conference floor at Money20/20 Europe in Amsterdam. Bringing together the world’s leading innovators, institutions, investors, and influencers from across the FinTech and financial services spectrum, more than 8,000 delegates from over 2,300 companies were in attendance… We sat down with Standard Chartered’s Head of Digital Assets – Financing & Securities Services, Waqar Chaudry, to discuss how the bank is connecting traditional with digital, collaborating with FinTechs and taking a measured approach to entering the crypto market. And we spoke with Veritran’s CMO, Jorge Sanchez Barcelo, to find out more about the tech firm’s partnership with Manchester City which is reimagining CX to create a frictionless digital experience for fans.
Financial Transformation Summit
The Financial Transformation Summit at London’s ExCel is one of the most immersive and interactive events in the financial services calendar. As a media partner, FinTech Strategy took the temperature of industry innovation at our stand with on camera hot takes from the tech leaders pushing the boundaries at Hyland, Fidelity, HSBC, Citigroup and more…
Also in this issue, we keep you up to date with the key FinTech events across the globe; and read on for more insights from InsurTech disruptors Qover, lending innovators iwoca and investment experts Eastern Horizon…
Our cover story explores the digital transformation journey of RAKBANK in the UAE. Head of Digital Transformation, Antony Burrows, reveals the agile practices, enterprise-wide enablement and people-first culture delivering digital banking with a human touch.
“Culture is the cornerstone,” Antony stresses. RAKBANK codifies this into its Four Cs Framework – Connect, Communicate, Collaborate and Celebrate. “Here in the UAE, banks are pivoting from a model of ‘we know everything’ to recognising that one of the best ways to deliver continuous change and value to customers is through partnerships with startups and FinTechs. It’s no longer banks versus startups – it’s banks and startups, working together for the customer. This shift is especially meaningful as banks expand beyond traditional services to focus on customers’ broader financial lives.”
MTN MoMo: Empowering Africa Through FinTech
Hermann Tischendorf, Chief Information & Technology Officer at MTN MoMo (the telco’s mobile money division) reveals a bold roadmap for leveraging FinTech to drive financial inclusion across the African continent.
“MoMo is comparable in monthly active users to some of the top ten FinTechs globally. We’re playing in the same league as Revolut or Nubank – but in much more complex markets,” notes Hermann. “Access to financial services is fundamental. Without it, people are excluded from the global economy. Our services are the equaliser allowing individuals in frontier markets to participate in trade, store value, and ultimately improve their quality of life.”
Republic Bank: Building a Digital Bank
Republic Bank has been serving customers via its branches for over 185 yearsand now serves 16 different countries across the Caribbean and beyond. It’s “a regional bank with a growing global reach,” explains Group Chief Information & Digital Transformation Officer, Houston Ross.
His team is building a digital bank during a Year of Delivery and Accountability (YODA). “When we talk about digitalisation it’s a journey that never ends. And product is the vehicle to make sure we’re continuously improving.This is our digital pathway and we have to change minds in terms of going beyond the challenges to achieve what’s possible with the right frameworks, tools and processes for our people to serve our customers.”
Akbar Hussain, Co-founder and Chief Legal & Compliance Officer at TerraPay, on cross-border payment innovation
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Every transaction tells a story. Most pass by unnoticed: familial remittances, a gift, a balance topped up. But behind the scenes, every transfer or cross-border payment sets off a chain reaction of checks, rules, and decisions. Signals are assessed. Contexts are weighed. Trust is verified.
Cross-border payments don’t operate in a vacuum. They move through regulatory frameworks and risk assessments, often in milliseconds. And as more and more transfers pass through this complex system, there is a growing need for infrastructure that knows not just how to move money effectively but how to govern its movement wisely.
Small Transactions, Big Stakes
There’s a myth in the payments world that small transactions carry small risk. That compliance obligations only apply at scale. Or that low-value payments fly under the regulatory radar. But in a globally connected system, nothing operates in isolation.
Small transactions power financial inclusion: school fees, emergency loans, micro-business payments. They are frequent, personal, and essential. And when repeated millions of times across loosely monitored corridors, they can create risk patterns with system-wide consequences.
When oversight is thin, even a modest flow of funds can be exploited for money laundering, fraud, or sanctions evasion. The notion that scale is only measured by individual ticket size ignores how quickly volume and velocity can multiply exposure. The risk isn’t always in the size of a transaction, it’s in how little is known about it.
Risk also doesn’t scale linearly. A seemingly harmless payments corridor can, over time, become a blind spot for illicit flows if the right compliance checks aren’t embedded. That’s why building safeguards into the infrastructure, not just the interface, of any payments system is critical.
Ultimately, there’s no such thing as a low-value transaction when the cost of failure is measured in trust.
Innovation vs Regulation
In much of the FinTech world, there’s still a belief that building effective cross-border payment systems means choosing between two paths: innovate fast or regulate carefully, as if the two can’t coexist. But this is a false choice. There is no sustainable growth in cross-border finance without regulatory credibility. Any system built to avoid or defer oversight will ultimately collapse, hollowed out by its own shortcuts.
In reality, we shouldn’t think of compliance as a barrier to scale but rather as a condition of scale. It’s what unlocks markets, builds durable infrastructure, and earns the trust of partners, governments, and users. Trust isn’t a switch that flips at go-to-market; it’s something built transaction by transaction, jurisdiction by jurisdiction.
That means licensing, yes. But it also means culture. It means embedding compliance into the architecture of your systems, the rhythms of your operations, and the priorities of your leadership. When regulatory design is built in from the start—rather than patched on later—it helps power growth.
Systemic Risk Has No Borders
One of the defining features of modern financial infrastructure is its interdependence. There are no isolated risks anymore. A lapse in one system—a poorly monitored corridor, a flawed due diligence model, an unvetted partner—doesn’t stay local. It echoes outward. Financial crime doesn’t respect borders. Neither does reputational damage.
This is particularly true in high-risk markets, where traditional institutions are limited or absent, and the appetite for speed often overshadows prudence.
These are also the places where financial inclusion efforts matter most—and where failure risks cutting people off entirely. Getting it wrong in these contexts risks shutting out the unbanked and underbanked from the systems designed to serve them, reinforcing the very barriers this industry claims to dismantle.
Financial institutions that choose to operate in these environments must do so with heightened accountability. The organizations that lead with integrity understand this and act accordingly: investing in real-time monitoring, adapting to regulatory shifts, and holding their partners to the same standard.
Building for the Future with Cross-Border Payments
There’s an understandable appeal to silver-bullet solutions: AI for fraud detection, blockchain for traceability, real-time everything. These technologies are powerful, and when applied with care, they can significantly enhance the robustness of compliance systems. But they’re not infallible. When adopted without scrutiny, they risk masking deeper structural weaknesses beneath a surface-level sense of control.
The more sustainable approach is rarely the flashiest. It’s incremental, data-driven, and adaptive. It prioritizes experimentation over assumption and refinement over scale for scale’s sake. Using anonymised data to test systems, deploying AI to extend—rather than replace—human oversight, and continuously evolving alongside the regulatory environments these systems must serve: this is where long-term resilience is built.
Trust, in Practice
To design for trust is to design for complexity. It means making peace with the regulatory landscape and recognizing that compliance isn’t a one-off exercise but a constant, evolving discipline that must move in step with innovation—not trail behind it.
It may not be the flashiest part of the story, or the one that makes the headlines, but any serious player in the cross-border economy must learn to balance the urgency of go-to-market with a deep, operational understanding of compliance and security. Regulation isn’t something to be welded on later. It’s something to be baked in from the start.
Join industry leaders and innovators at the 5th Annual Digital Banking Summit
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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
Kenan Maciel, Director of Strategy at Lab49, on the future for cross-border payments in the global push for instant settlement
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Cross-Border payments are the unseen infrastructure powering global commerce. A multinational corporation settling international invoices, a small business sourcing products overseas, or a family transferring remittances across continents… The global economy has relied on the seamless movement of money across borders for decades. Now, with the total value of cross-border payments estimated to increase from almost $150 trillion in 2017 to over $250 trillion in 2027, it’s clear just how fundamental they are to the future of the global economy.
However, despite their scale and importance, cross-border payments remain plagued by inefficiencies and high costs. High transaction fees, slow settlement times and a persistent lack of transparency have consistently challenged businesses and consumers. The Financial Stability Board, responsible for the G20 Roadmap for Enhancing cross-border payments, has acknowledged that “significant progress will be needed to meet the targets” this year. This statement highlights the reality of the industry as it stands. While the need for better infrastructure is widely recognised, the pace of change is unsteady.
A Landscape of Legacy
For decades, cross-border payments have relied on an established set of mechanisms: banks, credit card networks and money transfer operators. Traditionally, the biggest facilitators of cross-border payments have been the platforms established by major banks and governments like SWIFT, SEPA and CHIPS. These systems have served their purpose but are increasingly ill-suited to the demands of modern commerce. More recently, traditional card networks such as Visa, Mastercard and American Express have expanded their role in this space, capturing an ever-growing share of the cross-border market by offering relatively faster and more integrated solutions than conventional bank transfers.
In recent years, the emergence of new technologies has begun to reshape the landscape, helping to expand the growth of cross-border payments. DLTs, stablecoins and CBDCs offer the promise of faster, more secure, transparent and cost-effective payments compared to traditional methods. While the overall volume of cross-border payments handled on blockchain is still a fraction of the global market, its growth trajectory is significant. BVNK, for example, estimates that stablecoin payments alone could represent a $60 trillion opportunity in the next five years.
The Problems Persist
Still, challenges persist. The cross-border payment model is weighed down by high fees from traditional facilitators often driven by currency conversion charges, intermediary bank costs and compliance related expenses form different regulatory jurisdictions. Often, a single payment is subject to multiple checks and validation, each requiring different sets of data, which not only slows down processing times but also increases operational complexity. FX risks and associated high funding costs further complicate the picture. Banks are often required to pre-fund transactions in destination currencies to enable timely settlement, resulting in high funding costs and the need to hold capital that could be more productively deployed elsewhere.
A lack of transparency further compounds these issues. For many businesses, understanding the total cost of a transaction, and tracking its progress, remains frustratingly difficult. Information about fees, exchange rates and settlement times is often fragmented and inconsistent, further increasing uncertainty and risk.
What’s Changing?
Nevertheless, meaningful change is underway. One area seeing rapid development is FX hedging. Companies are increasingly making use of forward contracts and options to manage currency risk, while fintechs are leveraging smart contracts and decentralised finance platforms to automate FX conversion, improving both cost efficiency and predictability. The introduction of ISO 20022 and the looming November deadline, means that a global standard for financial messaging is inching closer. By standardising electronic data interchange between financial institutions, it promises to reduce friction and facilitate faster, more accurate payments.
Another encouraging development is the expansion of central banks’ instant payment infrastructures. For example, Fed Now in the US, Faster Payments in the UK, and SEPA Instant in the EU operate around the clock, offering real-time, 24/7 settlement. These developments mark a significant departure from traditional systems like standard SEPA which typically settle over two business days and only during working hours. While the cost of using these instant infrastructures is often higher, the benefits in terms of speed, transparency and availability offer a compelling improvement. Their growing presence is helping to set new expectations for what’s possible in domestic and cross-border payments.
With DLTs and stablecoins also gaining traction as credible alternatives to traditional methods, the industry is also moving closer to near instant global settlement and the ability to operate 24/7. A significant improvement over the lengthy settlement times and limited operating hours of legacy systems. Although, mainstream adoption still faces hurdles, with one of the primary challenges being convenience and usability. For many uses, managing digital wallets and understanding decentralised systems remains unintuitive, limiting adoption outside of extremely digital literate circles.
Who’s Leading the Charge?
Importantly, it is no longer just FinTechs and startups leading the charge. Traditional financial institutions are actively investing in digital asset infrastructure. Visa’s tokenised asset platform and the Bank of America’s plans for a proprietary stablecoin are prime examples of how legacy players are adapting. Institutions like these are often helping to define the future of cross-border payments.
The industry stands at a turning point, on the cusp of achieving the required speed, cost, transparency and access for the global economic future. With ongoing technological innovation and evolving regulatory frameworks, the path is becoming clearer. However, the nature of global finance means that no single approach will dominate. Different payment models require different tools, and the most effective solutions will be those tailored to specific needs and truly fit for the modern financial ecosystem.
Sejal Mehta and Wendy Di Blasio from Odgers Berndtson’s Global FinTech and Financial Services Practices, discuss new leadership demands in a rapidly evolving cross-border payments space
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The global landscape for cross-border payments is at an inflection point. It is driven by rapid technological advances, evolving regulatory frameworks, and shifting consumer expectations. With Asia emerging as a hub of growth, particularly in countries like China, India, and Singapore, the industry is projected to soar to $23.8 trillion by 2032. This represents over one-third of global transactions.
Yet, this significant growth introduces complexity. Challenges in interoperability, regulatory divergence, and varying regional consumer behaviours make effective leadership indispensable. In such an environment, strong executive leadership not only manages but proactively shapes these transformations.
A New Leadership Mandate in Cross-Border Payments
Today, successful leadership in cross-border payments requires much more than operational effectiveness or market penetration. Modern executives must adeptly manage uncertainty, anticipate disruption, and drive transformation at scale.
Visionary leadership is paramount. Executives need to foresee industry trends, understanding key initiatives such as Project Nexus. This aims to integrate real-time payment systems across Asia, enhancing transaction speed and seamlessness.
Strategic agility is equally critical. Given volatile geopolitical dynamics and fluctuating financial flows, leaders must skilfully balance immediate demands with long-term goals. The capacity to make informed, data-driven decisions amid complexity is now a hallmark of effective leadership.
Cultural competence also defines leadership excellence. Executives must nurture inclusive, agile teams that can navigate diverse cultural contexts and regional expectations. Emotional intelligence, cultural sensitivity, and the ability to effectively lead multicultural, distributed teams are no longer optional. These are essential leadership competencies.
Navigating Regulatory Complexity with Strategic Foresight
Managing regulatory fragmentation across jurisdictions is a significant challenge for leadership in the cross-border payments space. Countries continue to implement and update localised rules around data protection, anti-money laundering (AML), and financial compliance. Executives are under increasing pressure to ensure both global consistency and local compliance.
This environment calls for a nuanced understanding of international law, regional policy developments, and collaborative regulatory frameworks. Successful leaders are those who build strong regulatory partnerships, anticipate changes in legal landscapes, and embed compliance into the strategic DNA of their organisations.
For instance, responding to initiatives like ISO 20022, which standardises financial messaging formats, requires more than technical adaptation. It demands coordinated leadership across compliance, operations, and technology functions. By staying ahead of these shifts, executives not only minimise risk but can unlock new efficiencies and competitive advantages.
Leadership Trends Transforming the Cross-Border Payment Ecosystem
Several emerging trends are reshaping leadership in cross-border payments, significantly influencing how companies approach talent development and executive roles.
Intergenerational leadership has become a priority as Millennials and Gen Z increasingly dominate the workforce. These groups value purpose, flexibility, and impactful work, disrupting traditional loyalty structures. Today’s leaders must actively foster collaboration and unity across diverse age groups, aligning teams around shared ambitions like innovation, sustainability, and inclusivity.
The fluidity between traditional financial institutions (TradFi) and FinTech organisations is increasing noticeably. Executives moving between these spheres bring invaluable cross-sector expertise, methodologies, and perspectives. This intersection demands leaders who can seamlessly bridge legacy systems with innovative technologies, balancing stability with innovation.
Consequently, organisations are more frequently leveraging tools like psychometric assessments to identify crucial leadership attributes such as adaptability, resilience, and learning agility. These assessments are increasingly applied not only to senior executives but also to non-executive board members, helping firms strategically future-proof their leadership capabilities.
Cultivating Leadership Through Development and Succession Planning
Effective leadership development strategies have become critical as companies scale operations and navigate ongoing technological and geopolitical changes. Organisations cannot solely rely on external hires. They must cultivate internal talent pools prepared to address future challenges.
Forward-thinking companies are investing in targeted leadership programmes, mentorship opportunities, and rotational assignments designed to expose emerging leaders to diverse operational complexities. These practices strengthen organisational resilience, encourage internal innovation, and foster adaptability among leadership ranks.
Strategic succession planning further enhances organisational robustness. Rather than responding reactively to sudden leadership gaps, high-performing companies proactively identify, and nurture promising talent. This approach requires upskilling the leaders by providing them with a strategic understanding of newer technologies, data models and associated risks.
Leadership as the Cornerstone of Competitive Advantage
In the rapidly evolving cross-border payments landscape, leadership quality will ultimately distinguish market leaders from followers. As regulatory pressures intensify and technological advancements continue to reshape the industry, effective leadership is pivotal to turning complexity into growth opportunities.
By committing to leadership development, strategic executive recruitment, and aligning talent management with overarching business objectives, organisations position themselves for resilience and sustained success. The right leaders will not only navigate challenges but leverage them into lasting competitive advantages, transforming vision into tangible market value.
María Ávila Silván, CRO at PagoNxt Payments, on the future of B2B payments and why digital-first providers are best positioned to lead
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Despite long-standing claims that ‘cash is dead’, it continues to solve three distinct business problems for payments – immediacy, certainty, and accessibility.
Now, however, with the European Parliament’s decision to cap cash transactions at €10,000 by 2027, businesses who rely on these attributes are facing a turning point. Where cash is no longer a viable foundation for business operations, and digital is no longer optional. While positioned as an anti-money laundering measure, this regulation’s most profound impact will be catalysing the final stage of payment digitisation across European commerce. For banks and payment providers, this represents a compliance challenge. And a strategic opportunity to extend digital payment ecosystems.
The benefits of this acceleration towards digital payments are substantial. Over the past two decades, we’ve seen digital transactions offer enhanced traceability, providing both compliance benefits and improved financial visibility. In addition, they reduce the security risks and insurance costs associated with holding and transporting physical currency. Automated reconciliation capabilities eliminate countless hours of manual processing, while the granular data available from digital transactions generates treasury insights once thought impossible in the cash era. The operational efficiency gains alone can transform finance functions into the strategic enablers of enterprises.
That said, the shift isn’t straightforward. Those serving cash-intensive sectors must develop solutions that deliver the same immediacy businesses expect. This requires reimagining payment workflows entirely.
Human-Centric Design
The €10,000 cash limitation creates distinct challenges for businesses. Consider construction companies paying contractors on completion, or wholesale distributors accepting immediate payment upon delivery. Both will face disruption to established operational rhythms. Neither are inconveniences, but touch core business relationships where immediate exchange has built trust and operational predictability.
The digital alternatives now mandated by the EU must address human factors alongside technical capabilities. The reluctance to entirely abandon cash often stems from well-grounded concerns about digital payment accessibility, complexity, and reliability. Systems requiring multiple authentication steps, specialised hardware, or stable internet connectivity create friction points that cash simply doesn’t have. Any viable alternative to cash must address these barriers through education, simplified experiences, and demonstrable security. This is on all of us to address, and doing so must be viewed as a transformation journey rather than a compliance exercise. This means engaging clients early and understanding their specific operational concerns. We need to develop tailored pathways that address both the technical and cultural dimensions of payments change.
Matching the Core Strengths of Cash
As stated earlier, the greatest virtue of cash has always been its immediacy. You hand over notes, you receive goods or services. This represents a real-time transaction with instant settlement certainty.
Digital payment systems have historically struggled to match this attribute, introducing settlement delays and reconciliation challenges that create operational friction. That is, until now. The SEPA Instant initiative addresses this gap directly, enabling settlement within seconds rather than days. Yet despite these benefits, adoption remains inconsistent, with fewer than 5% of European banks currently maintaining the robust infrastructure needed to fully support these capabilities. The cash cap now creates a powerful incentive to hasten the speed, particularly for institutions serving affected sectors.
Real-time payment infrastructure delivers the immediacy businesses need. When combined with enhanced data capabilities, it creates a far superior experience to cash across multiple dimensions. A contractor receiving instant payment via their smartphone gains the same immediacy as cash while obtaining automatic documentation, tax records, and payment history. A wholesaler accepting immediate settlement receives not only funds but also structured invoice data that automates reconciliation and inventory updates. The possibilities are limitless.
Building these capabilities requires substantial investment and specialisation. Institutions must manage increasing compliance demands while simultaneously accelerating their technical capabilities. This is a challenging combination even for well-resourced organisations.
Scalable Solutions for a Complex Payments Transition
The complexity of replacing cash transactions varies significantly across different business contexts and sectors. A unified, scalable approach becomes essential for financial institutions serving diverse client bases. Payment-as-a-Service (PaaS) models excel in this environment by providing configurable solutions that can adapt to sector-specific requirements while maintaining consistent compliance frameworks.
Modern PaaS platforms deliver orchestration capabilities that manage the entire transaction lifecycle from initiation through compliance screening to settlement and reconciliation. This approach meets evolving AML requirements while delivering the real-time payment capabilities businesses require. Such a combination addresses both sides of the cash replacement equation – meeting regulatory demands while maintaining operational efficiency for end users
The EU’s €10,000 cash transaction limitation marks a defining moment in European payment evolution. It creates both challenges and opportunities – forcing reconsideration of established approaches while enabling enhanced capabilities. Financial institutions have a unique opportunity to deliver solutions that preserve cash’s operational benefits while introducing new dimensions of intelligence, integration, and experience. In turn, there is a golden opportunity to create payment ecosystems that are more transparent, efficient, and valuable for all European businesses.
Building on a long-term partnership, Klarna will leverage Marqeta’s platform and the Visa Flexible Credential to expand payment options for Klarna’s new debit card
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Marqeta, the global modern card issuing platform enabling embedded finance solutions, has announced it is working with Klarna. It will enable the global digital bank and flexible payments provider’s new debit card. The debit card is powered by Visa Flexible Credential (VFC) that allows access to built-in flexible payment options.
Klarna powered by Visa Flexible Credential and Marqeta
In July 2024, Marqeta became the first issuer processor in the US certified for Visa Flexible Credential. With VFC, Marqeta will enable Klarna customers to pay immediately or pay later when needed, all on the same card. This milestone builds on years of collaboration between Marqeta and Klarna. Including powering Klarna’s virtual cards in the US since 2018. The card is currently in a trial phase in the US, with a broader rollout expected later this year.
“The future of payments is flexible. We’re proud to enable this new offering together with Visa,” said Rahul Shah, Chief Product and Engineering Officer at Marqeta. “Our ongoing partnership with Klarna is a true testament to what’s possible with Marqeta’s platform. And how we enable our customers to grow and innovate at global scale.”
With its flexible card issuing platform, Marqeta makes it possible for global leaders like Klarna to expand to new markets. And offer innovative payment options tailored to evolving customer needs. Marqeta currently supports Klarna in six countries, helping to drive global growth and deliver seamless, consumer-first experiences.
“Through our continued partnership with Marqeta and Visa, we’re evolving the Klarna Card into a truly dynamic and versatile payment experience,” said David Sandström, Chief Marketing Officer, Klarna. “We’re excited to continue innovating alongside Marqeta as we scale the Klarna Card to provide smart, seamless payments that empower smarter, more informed shoppers everywhere.”
About Marqeta
Marqeta makes it possible for companies to build and embed financial services into their branded experience. And unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $300 billion in annual payments volume in 2024. Marqeta is certified to operate in more than 40 countries worldwide. Visit www.marqeta.com to learn more.
About Klarna
Klarna is a global digital bank and flexible payments provider. With over 100 million global active Klarna users and 2.9 million transactions per day, Klarna’s AI-powered payments and commerce network is empowering people to pay smarter with a mission to be available everywhere for everything. Consumers can pay with Klarna online, in-store and through Apple Pay in the U.S., UK and Canada. More than 724,000 retailers trust Klarna’s innovative solutions to drive growth and loyalty, including Uber, H&M, Saks, Sephora, Macy’s, Ikea, Expedia Group, Nike and Airbnb. For more information, visit Klarna.com.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
Nick Saywell, Senior Manager at PSE Consulting, on the rise of account-to-account payment
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With Apple and Android both unlocked, can account-to-account payment finally rival cards at the checkout?
For years, account-to-account (A2A) payment providers have dreamed of bringing their low-cost, real-time model to the in-store experience. But one key problem kept getting in the way: the experience wasn’t seamless enough to challenge the tap-and-go ease of cards. That may be about to change.
In mid-2024, the European Commission struck a landmark deal with Apple, forcing it to open access to the iPhone’s NFC chip to third-party payment providers. With both Android and iOS now unlocked, a door has opened that could finally give A2A wallets a shot at real parity with cards — and give merchants and consumers a meaningful alternative to the traditional payment rails.
The race is on. But can A2A deliver?
A2A Payments, Rebooted
A2A in-store payments have technically been possible for some time. But the experience has often fallen short, marred by clunky QR codes, awkward authentication flows, and too many screens. Consumers, spoiled by contactless cards and mobile wallets, weren’t interested in waiting even a few extra seconds.
Now, with tap-to-pay functionality available on all major devices, A2A apps can finally offer what was missing: frictionless in-store payments that rival the card experience. And with that, the real advantages of A2A — faster settlement, lower fees, and direct-to-bank transfers — are no longer hidden behind usability issues.
The question is no longer “can they?” It’s “how far can they go?”
The Contactless Advantage
In-store, speed is everything. In markets like the UK, where 93% of card payments are contactless, expectations are sky-high. For A2A wallets to compete, tap-to-pay is the bare minimum – and until now, it simply wasn’t available on iOS.
That changed in December 2024, when Vipps MobilePay launched the first-ever A2A tap-to-pay solution on iPhone, enabling “Tap with Vipps” at stores across Norway. With expansion plans underway for Denmark, Finland, and Sweden, the Nordic region is quickly becoming a proving ground for A2A in-store dominance.
Other markets are following – and fast. Sweden’s Swish has moved from Bluetooth to NFC for Android tap-to-pay. Bizum, used by over half of Spain’s population, is rolling out “Bizum Pay”, enabling A2A and card-linked tap payments later in 2025. In Poland, where Blik already dominates eCommerce, the company is planning iOS tap-to-pay integration this year.
Crucially, these aren’t just tests or pilots — they’re market-ready rollouts. And they show that the A2A space is no longer content to sit in the shadow of cards.
The Big Economies Lag Behind
However, not everyone is moving at the same speed.
Despite the momentum in Scandinavia, Spain, and Poland, Europe’s biggest economies have been slower to act. The UK has yet to see a major A2A wallet gain traction in-store. In Germany and France, legacy infrastructure and conservative adoption curves are proving hard to shake.
Even Wero, the pan-European A2A wallet backed by the European Payments Initiative, won’t have an in-store solution ready until 2026. That delay risks leaving Europe’s largest markets outpaced by smaller, more agile neighbours — at a time when merchants and consumers alike are increasingly open to change.
For now, it’s the early movers who are defining the space — and setting expectations.
The Cross-Border Payment Battle
While domestic progress is promising, cross-border A2A remains the next big challenge. Regional alliances are forming — including:
EuroPA: A partnership between Spain’s Bizum, Italy’s Bancomat Pay, and Portugal’s MB Way, which completed its first cross-border transaction in late 2024.
EMPSA: An alliance including Bancomat Pay, Switzerland’s Twint, and Austria’s Bluecode, focused on cross-border interoperability.
But the road ahead is bumpy. Without a unified European solution, A2A risks becoming fragmented — more complicated for consumers, and harder to scale. Some argue that Wero offers the long-term answer. But in the short term, it’s up to these alliances to prove cross-border A2A is more than a theory.
The pressure is on to prove that A2A can work as well across borders as it does at home — without sacrificing simplicity or reliability.
The Moment of Truth for A2A Wallets
This isn’t just a technical breakthrough — it’s a power shift. For the first time, A2A wallets are competing with cards on the one thing that mattered most: convenience. With NFC access now universal, and major players moving fast, the old excuses no longer apply.
Whether A2A becomes the new default or remains a challenger brand depends on what happens next. Can providers scale fast enough? Can they deliver the reliability, UX, and trust that card payments have built over decades?
One thing’s clear – 2025 will be a crucial year in the battle to redefine Europe’s payment scene, and a new offensive to win in-store transactions is just starting.
About PSE Consulting
PSE Consulting is a leading global provider of payment advisory services to players across the payments landscape. PSE’s expertise has enabled it to deliver actionable market insights and operational optimisation to senior payments leaders for over 30 years. Find out more here.
Jonathan Brander, COO at Upvest, on best practice for trading platform infrastructure
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In the early hours of market turbulence, when retail investors are scrambling to respond, it’s not volatility that fails them: it’s infrastructure. In the past, we’ve repeatedly seen investing technologies buckle under pressure during moments of peak market stress.
During times of high demand, many platforms might struggle to maintain uptime. In recent weeks, as Trump’s tariffs announcements saw retail trading volumes surge, some of the world’s biggest trading platforms went dark. These responses to market volatility are not outliers: they are predictablestress tests. Market volatility correlates strongly with spikes in trading volume. A study by the European Central Bank found that liquidity shocks consistently drive increases in trading activity, especially in frequently traded assets. Platforms should expect and be designed for these surges.
Yet time and again, outages occur at precisely the moments when retail investors and advisers need control. In these moments, investors don’t merely lose access, they lose confidence.
Trading Platform Infrastructure
A 2024 poll found that 30% of UK banking customers would consider switching providers following a technology failure. Among 25-34 year olds, this figure jumps to 57%. For trading platforms (and their technology providers) trust is hard-won and easily lost. Operating in a financial market characterised by risk, investment infrastructure resilience is no longer a “nice-to-have”. It is a strategic necessity.
According to McKinsey, global assets under management in private markets grew to $13.1 trillion in 2023. In the UK, over a third (39%) of adults are actively investing and the number is growing, thanks in part to government-led market reforms. As trading volumes increase, retail investors need infrastructure that doesn’t flinch under pressure. So what does this look like in practice?
First, elasticity is essential. Systems must be able to scale to meet demand spikes. When trading activity spiked following Trump’s tariff announcement, Upvest experienced the highest trading volumes in our history. Our platform scaled exactly as it was designed to do, enabling millions of Europeans to seamlessly trade and invest in thousands of instruments with zero downtime. At times of volatility, “stability as a service” emerges as a key competitive differentiator.
Second, build for failure. The leading question in our conversations with clients is no longer “can you add this feature?”, it’s “can you guarantee uptime under pressure?” Financial institutions need to know that trading can continue in volatile conditions. Infrastructure providers must build with this in mind and leverage modular systems – where trading, settlement, and custody run independently – to reduce the risk that a single point of failure cascades across an entire platform. Decentralised services improve incident isolation and, in a digital-first financial ecosystem, reliable infrastructure that remains operational even when pressure peaks is the foundation of investor empowerment.
Observability is also key. Real-time monitoring allows operations and tech teams to anticipate issues before they become outages. This means constantly tracking latency, error rates, and system health, as well as regularly simulating and stress-testing for high volume scenarios to ensure systems can perform under extreme load. These synthetic tests mimic real-world event spikes and ensure you can deliver under pressure.
Finally, communicate transparently. When issues arise, investors deserve clear metrics on uptime and response windows. Public dashboards and incident post-mortems are no longer optional, they’re foundational to trust. At Upvest, for example, API Status is always available online so our clients can see whether we’re experiencing any issues.
Future Resilience
These steps are no longer operational best practice: they’re a necessity. The investment industry must move beyond treating volatility as an edge case and start building resilience into platforms as a priority. Retail investors don’t judge their investment providers during periods of calm, they judge them in crisis. When the market wobbles, infrastructure is the differentiator. That’s when confidence is earned and financial empowerment starts to happen.
Mark Andreev, COO at Exactly, presents a practical guide to tackling e-commerce fraud with payment tokenisation
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Tokenisation can solve a big problem… e-commerce fraud is a growing threat that continues to impact online businesses worldwide. According to recent figures from Statista (2025), global e-commerce losses due to online payment fraud are projected to exceed $100 billion by 2029. As fraudsters increasingly exploit IT vulnerabilities, it is imperative for online and brick-and-mortar businesses to fortify their cybersecurity posture.
Amidst the current security challenges, payment tokenisation emerges as a technology to future-proof business operations and is projected to reach USD 28.97 billion worth by 2033.
This guide explores the concept of payment tokenisation, emphasising its value and role in ensuring credit card payment processing standards for merchants.
What is Payment Tokenisation?
Tokenisation is the process of substituting sensitive data with non-sensitive values – tokens. It works as a key layer of protection for stored data by replacing card numbers with illegible, surrogate values.
During a transaction, payment details are securely transmitted to a trusted payment provider via hosted payment page or through direct API integration.
In the hosted payment page flow, the customer is redirected to a secure payment page operated by the payment provider. Here they can enter their payment information. The provider handles data collection, encryption, and transaction authorisation, keeping sensitive information off the merchant’s servers.
In the API integration flow, the merchant’s website collects payment details using secure client-side tools. In this case, the merchant is responsible for ensuring full PCI DSS compliance, as sensitive data passes through their systems.
Following a transaction, sensitive card data is substituted by a special character sequence. The translation of characters into randomised values refers to the tokenisation process.
For merchants who are not PCI DSS compliant, storing sensitive information on their side is not allowed. In these cases, the third-party payment provider retains the sensitive data and the tokens for future use, while merchants don’t retain any sensitive information.
This method is one of the key cybersecurity best practices to ensure payment providers remain compliant with PCI DSS and is also crucial for merchants using API integration to store sensitive data.
Different Types of Tokens
There are different types of tokens available to merchants, offering different levels of complexity and security. Simple tokens refer to randomised reference numbers that are unidentifiable and unrelated to customer data. They provide a high level of security when implemented correctly by a reputable payment provider.
On the other hand, token vaults represent a more complex system of payment security and data handling. Essentially, token vaults are encrypted repositories of original payment data associated with tokens from each customer transaction. Depending on the type of payment gateway integration, either the merchant or the payment provider may retrieve the payment information as needed. Token vaults can also be deployed in cloud environments, mitigating the need for extensive infrastructure.
The Value of Tokens
In an era where cybersecurity is paramount, failing to secure customer data can come at significant costs. Recently, the IT systems of the UK’s most prominent retailers suffered significant downtime following a series of cyberattacks. They were prevented from serving their customers as a result. As the consequences of these attacks continue to linger, affected UK retailers are working overtime to get back on track. In these situations, the use of tokenisation payment security has partly helped prevent what could have been a catastrophic breach. Reducing the risk of a lateral exploitation of customer data. In fact, using payment tokens, retailers avoid the need to encrypt and retain sensitive payment details. This lowers the risk of attacks, breaches, and noncompliance with ever-changing payment processing and data security policies.
Tokenisation also enables seamless customer experiences, addressing a crucial customer demand – convenience. In fact, with tokenisation enabling one-click checkouts, customers avoid re-entering card details and access a seamless shopping experience, meeting an important need for comfort and familiarity for consumers.
Finally, from a regulatory perspective, compliance with PCI DSS is mandatory for payment providers and merchants specifically using API integration within payment gateways to store sensitive information. In this regulatory context, tokenisation becomes a straightforward strategy to meet fundamental data handling legal requirements. In an era of rising cyber threats and increasing customer expectations, tokenisation offers merchants a scalable, effective, and future-ready approach to safeguarding sensitive data, building trust, and preserving business integrity.
Digital DNA – Exploring core infrastructure, platform strategies, and foundational technologies.
Embedded Intelligence – AI, machine learning, data strategies, and real-time analytics.
Beyond Fintech – Partnerships between fintechs and other sectors like retail, health, and climate.
Governance 2.0 – Regulation, digital identity, privacy, and ESG compliance.
Day three featured more impactful sessions across all four pillars, offering attendees more valuable insights and strategies for innovation.
Highlights from Key Sessions at Money20/20 Europe:
How to Create and Leverage FinBank Partnerships
The discussion focused on the evolution and success of FinTech partnerships with banks. Key points included the shift from transactional partnerships to more collaborative, value-driven relationships, emphasizing joint KPIs and product creation.
Alex Johnson, Chief Payments Officer, Nium
“You really have to differentiate. You really have to stand out for a bank to say, ‘Yeah, I like what you offer enough to go through, six months of onboarding.’ Dare I say, maybe more.”
John Power, SVP, Head of JVs & AQaaS, Fiserv
“The legacy system, it’s a fact of life. They’re there. They’re pervasive. They’re going to be here for a long time, and banks historically have made huge investments in those platforms and systems. So I think both the challenge for the for the bank and the opportunity for the FinTech is, how do you at the front end of those legacy systems develop new products that can scale and that you can bring cross border easily and readily.”
“It really is cutting the line to be able to deliver opportunity for customers and to be able to expand propositions for new customers.”
“The economic development supply chains shifting to low to middle income countries are incredibly important right now, and cross border payment rails have not been good in low middle income countries.”
Where Fintech goes Next: Tapping into Platforms and Verticals
The discussion centred on the democratisation of financial services through embedded finance. The panel emphasised the importance of data quality, personalisation, and strategic partnerships in delivering seamless financial experiences – ultimately enhancing customer satisfaction and improving business efficiency.
“Embedded finance is going to be defined by region and use cases.”
Amy Loh, Chief Marketing Officer – Pipe
“Small businesses don’t want to manage their business through a bunch of different tools that are stitched together. They’re looking to platforms to do everything for them and keep high end services.”
“Most platforms or merchants out there trying to diversify revenue, and they will get auxiliary revenue, or maybe get primary revenue through FinTech activity.”
The Neobanks Strike Back
In a dynamic exploration of neobanking’s evolution, Ali Niknam revealed bunq’s remarkable journey from a tech-driven startup to a sustainably profitable digital bank. By leveraging AI across every aspect of their operations, bunq has transformed traditional banking, reducing support times to mere seconds and creating a hyper-personalised user experience. Niknam emphasised the power of user-centricity, showing how innovative features like simple stock trading and multi-language support can democratise financial services.
The bank’s strategic approach – focusing on user needs rather than investor expectations – has enabled them to expand thoughtfully, with plans to enter the UK and US markets. By embracing technological change and maintaining a relentless commitment to solving real customer problems, bunq exemplifies the next generation of banking.
Ali Niknam, Founder & CEO, bunq
“Somewhere in the 70s, we let go of the gold standard, and now currencies are basically floating. The only reason why a dollar or a euro is worth what it’s worth is because of trust and perception. Philosophically, it’s very logical that we have found another abstraction layer by introducing stablecoin, which is not much else than a byte number that has a denomination currency as a backing asset that itself doesn’t have anything as a backing asset. A lot of people might ask, ‘Why would you need a stablecoin? We have euros. I go get a coffee, pay with Apple Pay or cash.’ But there are many countries on this planet where the local currency is not stable. If your country has an inflation rate of 30,000% like Zimbabwe, you would really love to use a different currency. The US dollar has been the currency of choice, but as a normal person, you cannot access the US dollar. A US dollar stablecoin that you can access by simply having a mobile phone – that’s going to be transformational for large groups of people.”
Innovating When Regulation Can’t Keep Up: Lessons from NASA
Lisa Valencia covered an array of topics, from her 35 year career at NASA and Guinness World Record to the rise of private entities like SpaceX, which has launched 180 missions this year, and the increasing role of public-private partnerships in space exploration. The speaker also touched on international collaborations, particularly with the European Space Agency and the Italian Space Agency, and the potential for space tourism and colonization of the moon.
Lisa Valencia, Programme Manager/Electrical Engineer – Pioneering Space, LC (ex NASA)
“Back in the day, NASA got 4% of the national budget. Now it’s down to just 0.1%, so we’ve had to get creative with private partnerships. SpaceX is the perfect success story. They came to us in 2007 needing money after some rocket mishaps, and look at them now! From my balcony, I see their launches every other day. They’re planning 180 launches this year alone.Talk about a return on investment!”
“We’re planning to colonise the South Pole on the moon. The idea is to extract water and hydrogen from the regolith—both for living there and for fuel.”
Scaling Internationally in 2025: Funding, Innovating, and Breaking into New Markets
The conversation focused on the growth and strategy of fintech companies, particularly those with a strong presence in Europe and the US. The panel featured Ingo Uytdehaage, CEO and co-founder of Adyen, and Alexandre Prot, CEO of Qonto. Both leaders expressed a preference for organic growth over acquisitions, emphasizing the importance of scaling efficiently before pursuing an IPO.
Ingo Uytdehaage, CEO and co-founder of Adyen
“I think an important part of scaling a company is not just thinking about your product, but also considering the markets you want to address, and how you ensure you become local in each country.”
“We realised over time that if we really want to bring the customers, we need to have the best licenses to operate. A banking license gives you a lot of flexibility.”
“Being independent from other companies, other financial institutions, that gives you flexibility to build what your customers really want.”
“I think it’s very important, also in Europe, that we continue to be competitive. If you think about regulations and AI, we shouldn’t try to do things completely differently compared to the US.”
Alexandre Prot, CEO of Qonto
“We need to be very strict about tech integration and avoiding legacy which slows us down.”
“We still need to scale a lot before we have a successful IPO. A few team members are working on it and getting the company ready for it. But, the most important thing is just scaling efficiently in the business, and maybe an IPO would be welcome in a couple of years.”
Putting The F in Fintech
The panel discussion focused on the role of women in FinTech based on personal experiences.
Iana Dimitrova, CEO, OpenPayd
“At times, being underestimated is helpful, because if you’re seen as the competition, driving an agenda is becoming more difficult. So what I found, actually, over a period, is that bringing your emotional intelligence, leaving the ego outside of the outside of the room, and just focusing on execution is is incredibly helpful.”
Megan Cooper, CEO & Founder, Caywood
“The moment we start defining ourselves as like a female leader or a female entrepreneur, you almost kind of put yourself in a bit of a box. And so I think just seeing yourself on an equal playing field and then operating it on an equal playing field and interacting in that way is quite advantageous.”
“We can’t just want diversity and hope it happens. We actually have to be intentional about creating it.”
Valerie Kontor, Founder, Black in Fintech
“Black women make up 1.6% over the FinTech workforce, but when we look at the financial reality of black women by the age of 60, only 53% of black women have enough money in their bank account to retire. We need to start marrying people in FinTech and the people that we need to serve.”
Money20/20 Europe 2025 closed its doors but the next edition of the conference will return to Amsterdam from June 2–4, 2026, promising to continue the tradition of shaping the future of financial services…
Day two of Money20/20 Europe 2025 at RAI Amsterdam continued the momentum with a focus on digital assets, stablecoins, and…
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Day two of Money20/20 Europe 2025 at RAI Amsterdam continued the momentum with a focus on digital assets, stablecoins, and the evolving regulatory landscape. The event attracts over 8,000 attendees, including FinTech leaders, investors, and policymakers, all eager to explore the future of finance.
Money20/20 Conference Themes & Tracks
Money20/20 Europe 2025 is structured around four thematic content tracks:
Digital DNA – Exploring core infrastructure, platform strategies, and foundational technologies.
Embedded Intelligence – AI, machine learning, data strategies, and real-time analytics.
Beyond Fintech – Partnerships between fintechs and other sectors like retail, health, and climate.
Governance 2.0 – Regulation, digital identity, privacy, and ESG compliance.
Day two featured more impactful sessions across all four pillars, offering attendees further valuable insights and strategies for innovation.
Highlights from Key Sessions at Money20/20 Europe:
Digital Wallets and Co-opetition
A standout session featured industry leaders from Fluency, Curve, PayPal, and BLIK discussing the competitive yet collaborative nature of Europe’s digital wallet ecosystem. The panel delved into how traditional financial institutions and FinTech startups are navigating partnerships and competition to enhance user experiences and expand market reach.
Africa’s Fintech Innovation
Another significant discussion spotlighted Africa’s role in global fintech innovation. Representatives from 500 Global, Tech Safari, and Moniepoint highlighted how African startups are leveraging technology to drive financial inclusion and create scalable solutions that could influence global markets.
Digital Assets
A standout session featured Waqar Chaudry, Head of Digital Assets for Financing & Securities Services at Standard Chartered. In a fireside chat titled “The Digital Assets Opportunity: How Banks Can Win at Web3,” Chaudry, alongside Sygnum Bank’s Aliya Das Gupta, delved into the evolving landscape of digital assets.
Chaudry highlighted Standard Chartered’s initiatives in digital asset custody, tokenisation, and the launch of tokenised money market funds. Furthermore, he discussed the development of stablecoin solutions aimed at improving liquidity and settlement times. Chaudry underscored the importance of banks adopting robust digital asset strategies to meet growing client demands and navigate the complex regulatory environment. Drawing from his regulatory background at the Abu Dhabi Global Market, Chaudry provided a unique perspective on balancing innovation with compliance.
WealthTech Evolution
Leaders from Raisin, Upvest, and PensionBee explored the transformation of wealth management through AI and APIs. The panel emphasised the importance of personalised financial services and the integration of technology to meet the evolving needs of consumers.
Central Bank Digital Currencies (CBDCs)
A fireside chat with officials from the European Central Bank and the Bank of England provided insights into the development of the digital euro and pound. The discussion covered technical challenges, regulatory considerations, and the potential impact of CBDCs on the financial ecosystem.
Navigating the Evolving Cyber Threat Landscape
The financial services sector faces an unprecedented convergence of threats with sophisticated cyber attacks and the rise of new technologies… Recorded FutureCEO Christopher Ahlberg assessed the evolving threat landscape and strategies for building secure digital ecosytems. He was joined by In Security CEO Jane Frankland and Mastercard EVP Johan Gerber
Networking, Partnerships, and Brand Activations at Money20/20
Notable Announcements:
Money20/20 and FXC Intelligence Report: A collaborative report titled “How Will Europe’s Money Move in the Future?” was released, offering insights into the future of European cross-border payments and the impact of emerging technologies.
Policy Exchange Roundtables: Money20/20 introduced focused roundtable discussions involving central banks, regulators, and industry leaders to address critical regulatory challenges in the digital financial landscape
Day two of Money20/20 Europe 2025 underscored the dynamic interplay between traditional financial institutions and emerging FinTech innovations. Discussions on digital assets, stablecoins, and regulatory frameworks highlighted the industry’s commitment to embracing change while ensuring stability and compliance. The second day underscored the event’s role as a catalyst for innovation, collaboration, and growth within the fintech industry. As the conference progresses, stakeholders remain focused on shaping a resilient and inclusive financial future.
Money20/20 Europe 2025 opened its doors to a full-capacity audience at the RAI Convention Centre in Amsterdam. Bringing together the…
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Money20/20 Europe 2025 opened its doors to a full-capacity audience at the RAI Convention Centre in Amsterdam. Bringing together the world’s leading innovators, institutions, investors, and influencers from across the fintech and financial services spectrum. With more than 8,000 delegates from over 2,300 companies in attendance, the opening day set a high-energy, insight-rich tone for the rest of the week.
“Money Morning Live”
The day kicked off with “Money Morning Live”. A signature fast-paced keynote session hosted by Tracey Davies (President of Money20/20), Scarlett Sieber, and Zachary Anderson Pettet. The morning show served as a pulse check for the industry. Combining thought leadership with entertainment to engage both newcomers and veterans.
Rahul Patil, CTO of Stripe, delivered a keynote on AI’s role in payments infrastructure. Highlighting how machine learning is now essential for fraud detection, customer service, and onboarding. He emphasised AI should not merely be viewed as an efficiency tool, but as a strategic pillar to create personalised user experiences. And deliver scalable innovation across markets.
David Sandstrom, CMO at Klarna, reflected on the Swedish FinTech giant’s evolution, particularly its use of generative AI for customer engagement and internal operations. Sandstrom noted Klarna’s AI assistant, which now handles two-thirds of its customer queries globally, has dramatically improved both customer satisfaction and cost efficiency.
Money20/20 Conference Themes & Tracks
Money20/20 Europe 2025 is structured around four thematic content tracks:
Digital DNA – Exploring core infrastructure, platform strategies, and foundational technologies.
Embedded Intelligence – AI, machine learning, data strategies, and real-time analytics.
Beyond Fintech – Partnerships between fintechs and other sectors like retail, health, and climate.
Governance 2.0 – Regulation, digital identity, privacy, and ESG compliance.
Day one featured impactful sessions across all four pillars, offering attendees valuable insights and strategic foresight.
Highlights from Key Sessions at Money20/20 Europe:
Open Banking & Payment Rails
“Putting the Bank Back in Open Banking Payments”, saw speakers from Token.io, Santander, and BNP Paribas examine how banks are reclaiming relevance in the open banking conversation. While FinTechs initially led the charge, the panel noted banks now play a crucial role in building trusted, interoperability, and high-volume “pay by bank” solutions. The debate touched on customer adoption hurdles, PSD3’s role in shaping future APIs, and the monetisation challenges still plaguing the open banking model.
Card Issuance at Scale
In a fireside chat led by Thredd’s President Jim McCarthy, representatives from Railsr, Worldpay, Flagship Advisory, and Caxton discussed the complexities of issuing card programs globally. The group addressed fragmentation across regulatory environments. Especially in regions like LATAM and Asia-Pacific. They urged the need for programmatic flexibility, local compliance, and better BIN management. The panel agreed that the future of card issuing lies in seamless orchestration between platforms, banks, and third-party fintechs.
Agentic AI: Ready for Prime Time?
A standout session focused on the concept of Agentic AI — autonomous agents capable of completing financial tasks without manual prompts. Industry leaders from NVIDIA, bunq, and Visa debated how ready the financial services sector truly is for deploying such systems. While the technology is progressing rapidly, concerns around regulatory clarity, model interpretability, and risk frameworks remain.
NVIDIA’s Head of Financia Technology, Jochen Papenbrock, stressed the need to democratise access to compute infrastructure. And bunq’s AI evangelist, Ali El Hassouni, showcased how the challenger bank is testing semi-autonomous agents in customer support workflows. Meanwhile, Visa SVP for Products & Solutions, Mathieu Altwegg,emphasised the importance of embedding guardrails in agentic systems to ensure ethical AI practices. Especially in credit scoring and wealth advisory roles.
Scaling AI Across the Enterprise
A collaborative session featuring leaders from Stripe, Starling Bank, AWS, and Swift delved into the challenges of scaling AI initiatives beyond prototypes. The discussion spotlighted the importance of clean, real-time data pipelines, strong governance structures, and cross-functional collaboration between engineering, data science, and compliance teams.
Networking, Partnerships, and Brand Activations at Money20/20
Notable announcements:
Beyond the conference rooms, the exhibition floors buzzed with product demos, startup pitches, and impromptu huddles among VC firms, banks, and emerging FinTechs. Exhibitors such as Plaid, Adyen, Marqeta, and Fireblocks showcased new tools for embedded finance, real-time treasury management, and blockchain settlement.
Wise teased a new enterprise FX tool tailored for SMEs.
Checkout.com introduced an AI-enhanced fraud prevention dashboard.
Avalanche Foundation launched an initiative to bring blockchain-based micro-insurance products to underserved markets in Eastern Europe.
A particularly significant development emerged around stablecoins, with clear signals that regulated, bank-issued digital currencies are entering a new phase of maturity:
U.S. Megabanks Signal Joint Stablecoin Initiative Executives from JPMorgan Chase, Wells Fargo, Bank of America, and Citigroup confirmed that initial groundwork has begun on a joint U.S. dollar-denominated stablecoin, subject to the passage of the pending GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins). The stablecoin aims to offer faster, cheaper cross-border settlement and programmable liquidity for enterprise clients. Bank leaders emphasized that this would complement, not replace, traditional banking rails.
Ripple Expands in the UAE In a regional announcement, Zand Bank and fintech firm Mamo revealed a partnership with Ripple, using its blockchain infrastructure to enable real-time, low-cost cross-border remittances. This move, anchored in the UAE’s pro-digital asset stance, aligns with broader ambitions to make the country a hub for regulated digital currencies.
Institutional Stablecoin Custody Panels featuring speakers from Fireblocks, Anchorage Digital, and Circle addressed the evolving role of stablecoins in treasury operations and FX management. There was widespread agreement that tokenised cash equivalents, including USDC and EURC, are increasingly being used for short-term settlement and yield farming, particularly in Asia and Europe.
These discussions signalled a broader institutional acceptance of stablecoins, with an emphasis on compliance, transparency, and integration into traditional finance rather than bypassing it.
Day one of Money20/20 Europe 2025 delivered on its promise of convening the brightest minds to create the future of finance. From headline-grabbing keynotes and deep-dive panels to global product launches and off-stage networking, the conference created a rich mix of thought leadership, practical innovation, and human connection.
Whether it was the evolution of AI in banking, the future of programmable money, or the balance between innovation and regulation, the discussions revealed a clear consensus: collaboration will define the next chapter of FinTech. Day two at Money20/20 promises even more, with upcoming sessions on decentralised finance, digital identity, and CBDCs.
Welcome to the Middle East’s biggest fintech event for 25 years. Seamless Fintech brings together big tech, government, banks, financial institutions, fintechs, investors, and media. Perfect for anyone passionate about the Middle East’s fintech and payments landscape. This event allows you to explore the fast-evolving ecosystem and engage with top industry players and innovators. And visit the Identity Showcase to discover cutting-edge solutions.
“If I wanted to take a pulse of the vibrancy of the region, then look around at Seamless. The amount of interest and intent people are showing in us and FinTech in the region is very visible at Seamless Middle East.”
Managing Director, Amazon Payments Service
Furthermore, whether you’re presenting your latest payment innovations or showcasing impactful demos, this is your opportunity to foster connections and accelerate business growth. Join 25,000 attendees and 800 exhibitors gaining insights from a stellar line up of 750+ expert speakers from the likes of Revolut, J.P. Morgan, Monzo, Citi and more.
Seamless Digital Commerce
Seamless Fintech will be co-located with Seamless Digital Commerce. This event caters to payments companies seeking to connect with merchants, SMEs, retailers, and e-commerce platforms. The event offers valuable insights into revolutionising in-store experiences, optimising e-commerce strategies, and mastering digital marketing techniques. It provides unmatched opportunities for growth and collaboration in the digital commerce space.
This event is perfect for those looking to forge new partnerships, gain valuable insights from industry trailblazers and drive innovation to stay ahead in the ever-evolving digital landscape. Moreover, whether you’re a startup, an established player, or an SME, Seamless Digital Commerce is designed to push the industry forward.
Join FinTech’s greatest event when Money20/20 Europe returns to Amsterdam’s RAI Arena June 3-5
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FinTech Strategy is proud to be a media partner for Money20/20 Europe 2025.
Launched by industry insiders in 2011, Money20/20 is the heartbeat of the global FinTech ecosystem. Some of the most innovative, fast-moving ideas and companies have found their feet (and funding) on its show floor. From J.P. Morgan, Stripe, and Airwallex to HSBC, Deutsche Bank, and Checkout.com.
Furthermore, this is where you’ll find new connections, business-critical insights from inspirational speakers, innovation, and partnerships you need to ensure your business succeeds for whatever comes next in money.
The Agenda for 2025
Come and create the future for financial services at Money20/20 Europe… This year’s agenda tracks cover Beyond FinTech, Digital DNA, Embedded Intelligence and Governance 2.0. Expert speakers include leaders from Mastercard, Monzo, Bank of England, Visa, IBM, Starling Bank, Revolut and more offering key insights on everything from agentic AI and cross-border payments to open banking and embedded finance.
Why Money20/20?
FinTech Strategy spoke with a host of leaders from across the FinTech spectrum. They all agreed on one thing, Money20/20 Europe is ‘the’ place to make connections and build your business.
“It’s the first time I’ve attended Money 20/20 and, we’ve had some fascinating impromptu conversations that will lead to great opportunities. All the big names are here and it’s clearly a popular event from a thematic perspective – payments is a big theme this year. I have a very high regard for the quality of what’s on offer and the way the event has been organised – it’s a great customer experience, the way it’s all been structured, at scale, is actually one of the best I’ve ever seen. The response has been fantastic…”
Stephen Everett, MD Payables & Receivables, Lloyds Banking Group
“The majority of people at Money20/20 genuinely get up in the morning with a growth and innovation mindset. Therefore, you have to balance and recognise that when you walk into this big venue that there will be some wacky ideas. From my experience, I have seen many infant ideas turn into successful ventures, whereas I have also seen some ventures becoming unsuccessful despite having great innovation ideas. Fintechs will fail. Innovation will fail. Experiments will fail. And that’s fine. That’s what Money20/20 is all about.”
Michelle Prance, CEO, Mettle (NatWest Group)
“It’s good for Mettle to come here because we are a fintech that was incubated inside a large bank (NatWest) for fintechs. Quite often their route to market, route to capitalisation, is by going into a main bank being acquired. So, it’s that marriage between a big organisation and the small nimble fintech. People are really interested in what we’re doing because big incumbents want to be fast and nimble. They don’t always have the capital to invest in something like we’ve been able to do with Mettle. So, they’re interested to know the right route to go down. Do they incubate in house? Or do they buy it in? And what’s the right way to do that without killing the culture? These are the types of interesting conversations we’ve been having here.”
“The great thing about Money20/20, here in Europe, and in Asia and the US, is the good division between buyers and sellers. So, you have all these service providers like AirWallex, Amex, Stripe… And then you have the Heads of Payments from companies like Booking.com, Minted and Summit who are coming here with their team to meet with providers. If you think about that from a sales perspective, those meetings are very hard to get outside of this environment. But over a week you get 15 different meetings each day with that would normally take months to arrange. So, the ROI from this week is really powerful just from being able to have these conversations.”
“Paymentology is homegrown out of the UK so it’s important for us to make sure we’re representing the business across Europe. This is the centre of the world for banking innovation. We have customers here from Singapore, Dubai, Saudi Arabia, Ghana and beyond. 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 issue 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.”
“This is my sixth straight Money20/20 and it gets busier every year! It’s great to learn more about the ecosystem at large. You can see developing trends each year, and it’s always a little bit different. You build relationships at Money20/20 that stay with you for the rest of your life. And it’s a perfect opportunity to meet people in the flesh that you might normally only see on screen. You can get a pretty direct read on what they’re working on and it’s exciting to be here making new connections.”
Melinda Roylett, Managing Director of Merchant Services at Lloyds Banking Group, on how the UK’s small and medium sized businesses can navigate the payments maze
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Cashflow is the lifeblood of any business, yet it remains one of the most unpredictable aspects for SMBs. According to the Federation of Small Businesses, half of UK businesses have experienced cashflow problems. Many cite late payments as a major issue. Thankfully, banking and payment providers are stepping up with innovative and integrated services that make every transaction count.
At the recent ‘Payments Disrupted’ event, co-hosted by Lloyds and Visa at the Shard in London, they revealed exclusive business sector trends and consumer spending data. It highlighted areas of opportunity for SMBs – provided they have the tech and expert support to guide them.
The most recent Lloyds Business Barometer shows that business confidence has rebounded to the highest level since August 2024. Nevertheless, firms still cited rising costs and economic uncertainty as major obstacles to growth and investment. These challenges are not new. However, many SMBs could be overlooking an effective way to deal with them through unified payment solutions.
With the right strategies and tools, businesses can navigate complexities and unpredictability with confidence. Furthermore, they can unlock data-driven insights, cost savings, and the increased operational resilience and adaptability to cope with whatever the future throws at them.
Cashflow challenges
Sectors like retail and hospitality, where many businesses are operating on razor-thin margins, are particularly affected. Supply chain disruptions, the need to invest in growth, and seasonal fluctuations, like summer holidays, or peak sales events like Black Friday, can strain available funds.
For instance, businesses may experience cash-rich periods during peak seasons but struggle to meet operational expenses during quieter times. And with inflation still relatively high, the rising costs of materials, transportation, and labour further exacerbate cashflow challenges.
Cashflow problems inevitably have a way of seeping into other areas of the business. When cashflow is constrained, it prevents investment in the tools and tech businesses need to function properly. And they could miss out on new services that could streamline operations and lower costs.
Payment method and integration complexities
In a world of e-commerce, customer loyalty is not just about offering the best products or services. It’s about delivering a seamless and personalised experience at every touchpoint. According to UK Finance, 85% of UK consumers now use contactless payments – mobile wallet transactions are expected to account for 39% of all POS transactions by 2025. However, only 60% of small businesses have fully integrated digital payment solutions, leaving many at risk of falling behind.
Businesses can feel bewildered when confronted with the array of payment services that have emerged. Today’s customers expect seamless, secure, and diverse payment options, whether they’re shopping online or in-store. From contactless payments and mobile wallets to QR codes and pay-by-bank solutions, businesses must keep pace with these trends to remain competitive.
A smooth checkout experience, for instance, can be a significant competitive advantage. According to Visa, 59% of consumers consider a good checkout experience as important as having the best products. And 57% say a poor payment experience is enough to make them switch to a competitor.
However, integrating the payment methods that customers want can be complex, especially for SMBs with limited resources and expertise. Lloyds’ own research found that 49% of businesses say they find the choice of payment gateways in today’s market overwhelming. Considering the many data security and compliance obligations they’re facing, it’s no wonder that SMBs are asking for more help from their payment providers.
SMBs can navigate payment complexities with the right partner
To overcome these complexities, SMBs can partner with payment providers like Lloyds Merchant Services that offer integrated payment solutions, spanning point-of-sale (POS) and omnichannel acceptance. Such solutions not only simplify the payment process but also provide valuable insights into customer behaviour, enabling businesses to tailor their offerings and enhance the customer experience.
There are other benefits of working with integrated payment solutions. Independent Software Vendors (ISVs) are increasingly powering a lot of the business decisions that SMBs make. For example, to foster loyalty, businesses must go beyond basic payment processing and offer value-added services such as loyalty programmes, personalised discounts, and data-driven insights.
By analysing spending behaviours, businesses can identify trends and tailor their offerings to meet customer needs. For instance, a restaurant might use payment data to identify its most loyal customers and offer them discounts to encourage repeat visits. So, being connected to these ISVs is increasingly important to ensure consistent payment performance.
Lloyds Merchant Services has fostered partnerships with leading ISVs and tech vendors to offer the most comprehensive service range in the market. From our partnerships with PayPoint and extending our services to its 60,000-strong merchant network, to our POS device and infrastructure relationships with Fiserv, FreedomPay and Epos Now, we cover almost every business need, with scalability built-in. With Epos Now’s advanced POS, offering a powerful end-to-end solution, SMBs have access to payment acceptance technology that is robust yet flexible and can adapt changing customer needs.
That includes our flexible Merchant Cash Advance offering which provides quick access to capital based on future card sales. Differing to traditional loans, MCA allows businesses to pay the advance as a percentage of their card transactions, ensuring that payments are in sync with their cashflow. This flexibility is particularly beneficial for businesses with seasonal revenue streams, as it removes the stress of fixed monthly payments during low-income periods.
Prepare for the future now
The future of payments is increasingly digital, and businesses that provide customers with the best payment experiences will thrive. Businesses must invest in scalable payment solutions that can adapt to evolving technologies and consumer preferences. By adopting integrated payment solutions, SMBs can navigate the complexities of cash flows, rising operational costs, and evolving customer expectations. Moreover, by leveraging value-added services and staying ahead of technological trends, businesses can foster customer loyalty and drive sustainable growth.
Partnering with a knowledgeable payments provider that offers service and support that meet different business needs, dedicated relationship management, and industry insights can be a game-changer. It can give SMBs the agility and access to innovation they need to be profitable now and into the future. With expert support at every step, businesses can not only survive today but also seize the opportunities of tomorrow.
HBX Group eWallet incorporates advanced features such as integrated financing, access to invoices and complete traceability of transactions
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HBX Group, a leading independent B2B travel technology marketplace has launched the HBX Group eWallet. This innovative B2B payments platform is specifically designed for the travel industry. The product has been developed in collaboration with FinPay, an e-money institution regulated by the Bank of Spain. It will be initially available in Spain in April 2025, with plans to expand to OECD countries starting in June.
B2B eWallet
A B2B eWallet is a digital solution that allows companies to securely store and manage payments quickly, and efficiently. Operating similarly to a digital wallet for consumers, it is designed to facilitate instant, cross-border transactions between companies. HBX Group eWallet, developed specifically for the travel industry, goes a step further. It incorporates advanced features such as integrated financing, invoice access, and full transaction traceability. Its aim is to digitise and automate B2B payments, reduce transaction costs, and improve the operational scalability of the travel ecosystem.
“HBX Group eWallet represents a decisive step toward modernising B2B payments in the travel ecosystem,” says Daniel Nordholm, chief product and new business officer at HBX Group. “We want to set a new standard for efficiency and security in the sector. The partnership with FinPay allows us to achieve this with a solution tailored to the industry’s needs.”
“This collaboration with HBX Group leverages the full potential of financial technology applied to real-world business contexts,” says Juan Antonio Soriano, CEO of FinPay. “FinPay represents a breakthrough in the digitalisation of B2B payments and financing. And we are proud to be the technology partner making it possible.”
Registration on the platform implies acceptance of the terms and conditions of FinPay, the entity responsible for the payment and financing services integrated into the solution.
About HBX Group
HBX Group is a leading global independent B2B travel technology marketplace. It owns and operates Hotelbeds, Bedsonline, and Roiback. It offers a network of interconnected travel technology products and services to partners. These include online marketplaces, tour operators, travel advisors, airlines, loyalty programmes, destinations and travel suppliers.
The vision is to simplify the complex and fragmented travel industry through a combination of cloud-based technology solutions. This includes curated data and a broad portfolio of products designed to maximise revenue. HBX Group is present in 170 countries and employs more than 3,600 people worldwide. It is committed to making travel a force for good, creating a positive social and environmental impact.
In a major move for blockchain-powered finance, Kinexys by J.P. Morgan has launched GBP-denominated Blockchain Deposit Accounts at its London…
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In a major move for blockchain-powered finance, Kinexys by J.P. Morgan has launched GBP-denominated Blockchain Deposit Accounts at its London branch. This marks a significant expansion of its Kinexys Digital Payments platform into the UK market. The innovation introduces one of the first blockchain-native banking products of its kind in the region. It is designed to facilitate 24/7 real-time payments and cross-border transactions for institutional clients.
SwapAgent, a London Stock Exchange Group Post Trade Solutions business, and Trafigura, a global leader in commodities trading, are the inaugural clients on the platform. The deployment signals a meaningful step in the evolution of blockchain in mainstream banking infrastructure, particularly in foreign exchange (FX) settlement, liquidity management, and programmable finance.
The new offering allows corporate clients to settle GBP-denominated payments anytime, including weekends. And while accessing same-day FX settlements and real-time cross-border capabilities. This follows the platform’s earlier rollout of EUR-denominated blockchain accounts in Frankfurt and continues Kinexys’s push for global digital payment standardization.
SwapAgent will integrate Kinexys accounts into its digital post-trade pilot, with an eye toward broader adoption that could see blockchain accounts become a central part of its settlement architecture.
“As we expand SwapAgent’s settlement capabilities and enhance our digital presence, we’re eager to collaborate with Kinexys by J.P. Morgan”
Nathan Ondyak, CEO, SwapAgent
Trafigura Eyes Transformation in Cross-Border Treasury
Trafigura plans to leverage Kinexys accounts for real-time payments across New York, London, and Singapore, integrating programmable fund movement to streamline treasury operations across its global network.
“We are excited to advance our capabilities… [and] benefit from a transformative financial solution that will streamline our operations and enhance our competitive edge”
Chris McLaughlin, Global Head of Group Treasury, Trafigura
Kinexys: Momentum Behind the Numbers
Since inception, Kinexys has processed more than $1.5 trillion in transactions, with daily volumes exceeding $2 billion and 10x year-over-year growth. Its programmable payments feature, offering a self-serve “if-this-then-that” interface, provides users with automation options that traditional banking infrastructure has struggled to match.
This move cements J.P. Morgan’s blockchain unit as a first mover in institutional-grade digital payments infrastructure in the UK, positioning Kinexys as a major player in the convergence of blockchain, treasury, and cross-border payments.
Ozone API launches industry-first tool that enables US banks to calculate the cost of building and maintaining their own open banking APIs
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Ozone API, the global leader in open banking technology, has launched an industry-first tool. It forecasts an accurate estimated cost for US banks planning on building their own API infrastructure. It comes in response to the recent Section 1033 rulemaking under the Dodd-Frank Act. This means that American consumers will have the right to access and share their financial data.
API Build It Calculator
The “Build It Calculator” can estimate the cost to a US bank of building and maintaining its own API infrastructure. It does this by analysing data points including, but not limited to, the desired length of time for project completion, the financial institution’s hosting costs and the value of a bank’s deposits. This information is then fed into a formula built according to Ozone API’s extensive experience delivering open banking infrastructure globally.
Moreover, the final cost even includes the salaries of employees required to support the project. This is calculated in line with the proportion of their annual working hours that would be spent on the API build, implementation and maintenance.
Having already been tested and validated by banks in the US, the tool helps financial institutions understand the complexity and cost involved in building APIs. Furthermore, it also reveals the hidden costs of maintenance, which can often be as much as half the cost of initial implementation every single year.
Using the Build It Calculator, banks of all sizes can estimate both the up-front cost and maintenance costs of building their own open banking APIs in a single phone call with Ozone API. This brings significant clarity to initiatives that often reach eight-figure budgets.
Open Banking with APIs
“Open banking technology brings huge benefits to financial institutions as well as businesses and consumers, but building API architectures does require significant investment. We are making this tool available to help banks understand the scale of the undertaking and effectively prepare to comply with Section 1033. It’s crucial that banks are armed with accurate data to help them make the best decision, whether that is to build their own infrastructure or work with partners that can offer off-the-shelf or bespoke solutions.”
Eyal Sivan, General Manager, North America, Ozone API
The tool has been rolled out in the US already and is set to expand into new regions globally, including the UK, MENA, LATAM and APAC.
About Ozone API
Ozone API empowers banks and financial institutions around the world to deliver high performing, standards-compliant open APIs.
As open banking and open finance sweep the world, Ozone API helps banks and financial institutions to adapt and thrive in the new era of open data, by providing the technology to unlock the power of open finance globally.
The UK-based FinTech is the leading standards-based open API platform, supporting all global standards and providing the tools and expertise to help banks and financial institutions comply with regulation and create real commercial value.
With a founding team that led the development of the UK open banking standards, Ozone API continues to shape open finance globally helping regulators, banks and technology platforms to accelerate open finance. Learn more: https://ozoneapi.com/
Ripple, the leading provider of digital asset infrastructure for financial institutions, has announced it is acquiring Hidden Road for $1.25…
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Ripple, the leading provider of digital asset infrastructure for financial institutions, has announced it is acquiring Hidden Road for $1.25 billion. This represents one of the largest deals in the digital assets space. Additionally, with the acquisition, Ripple becomes the first crypto company to own and operate a global, multi-asset prime broker. Hidden Road is one of the fastest-growing prime brokers around the world. It offers institutions a one-stop-shop of advanced services. These include clearing, prime brokerage, and financing across foreign exchange (FX), digital assets, derivatives, swaps, and fixed income.
Ripple driving crypto industry growth
For the crypto industry to achieve the next phase of growth, it’s critical that core infrastructure is in place for institutional adoption. Prime brokers bring the necessary credibility and professional trading services expected in legacy finance to digital assets. Together, Ripple and Hidden Road are bringing the promise of digital assets to institutional customers at scale. They are bridging traditional finance and decentralised finance (DeFi).
Hidden Road has a strong business, clearing $3T annually across markets with more than 300 top institutional customers. Moreover, with the backing of Ripple’s significant balance sheet, Hidden Road will exponentially expand its capacity to service its pipeline. It will become the largest non-bank prime broker globally.
“We are at an inflection point for the next phase of digital asset adoption. The US market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end. And the market is maturing to address the needs of traditional finance,” said Brad Garlinghouse, CEO of Ripple. “With these tailwinds, we are continuing to pursue opportunities to massively transform the space. We are leveraging our unique position and strengths of XRP to accelerate our business and enhance our current solutions and technology.”
This acquisition also reinforces Ripple USD’s (RLUSD) position as an enterprise-grade USD-backed stablecoin with real utility. Hidden Road leverages it as collateral across its prime brokerage products. This will make RLUSD the first stablecoin to enable efficient cross-margining between the digital asset space and traditional markets.
Decentralised Finance (DeFi)
Hidden Road will, in turn, migrate its post-trade activity across XRPL. This will streamline operations and lower costs, demonstrating XRPL’s potential as the go-to blockchain for institutional decentralised finance (DeFi). Ripple also sees the potential to optimise costs and liquidity in its cross-border payments solution, Ripple Payments. And Ripple will provide critical custody services to Hidden Road’s customers who need bank-grade digital asset custody.
“With new resources, licenses, and added risk capital, this deal will unlock significant growth in Hidden Road’s business. Allowing us to increase capacity to our customer base, expand into new products, and service more markets and asset classes,” said Marc Asch, Founder and CEO of Hidden Road. ”Together with Ripple, we’re bringing the same level of trust and reliability that institutional clients are accustomed to in traditional markets. We are designed and optimised for a digital world.”
Digital Asset development
Thanks to its simple, secure, compliant digital asset infrastructure, Ripple is well-positioned to provide the core services that financial institutions need to tokenise, store, exchange and move digital assets. Furthermore, Ripple has over a decade of experience in the digital asset space and holds 60+ regulatory licenses and registrations in various jurisdictions.
Ripple participated in Hidden Road’s Series B and is a customer of its platform, experiencing firsthand the strength of the team, technology, risk management, and operational controls. The deal is expected to close in the coming months, subject to regulatory approvals.
AccessPay CEO Anish Kapoor examines the positive impact of DORA on the digital payments industry
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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.
Itaú Unibanco reinforces its foreign exchange solutions, enabling instant payment in foreign currency directly through the app
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Itaú Unibanco has partnered with Wise Platform to enable customers to send and make digital payments in foreign currency instantly and directly through the Itaú app. The goal is to deliver an even more complete solution for its customers, who already have currency reserves through the app and an international account.
Itaú expanding reach in Brazil
Itaú is strengthening its presence in the Brazilian foreign exchange market, where it achieved leadership in the primary ranking published by the Central Bank of Brazil. In partnership with Wise Platform, the solution it is launching will transform the experience of individual customers with international foreign exchange needs. Offering immediate digital payments and remittances, with tracking of transactions.
The new solution will allow customers to make international digital payments or send money in the same way and with the same simplicity as Pix. This can be done at any time of the day, every day of the week, overcoming business hours restrictions. In addition, the entire process can be monitored in real time, with transparency and visibility over each stage of the transaction.
“Over the past few years, we have evolved our foreign exchange solutions for tourists, offering currency exchange reservations directly through the app and withdrawal at our branches or 24-hour ATMs. We launched the international account and expanded the benefits of points on our credit cards, and now we have evolved in international remittances. People need to send money abroad, whether to make a payment or to send money to a child who is on an exchange program, for example. To meet this need, we believe that sending money abroad should be as easy and fluid as Pix and directly in the Itaú app.”
GabrielRombenso, Superintendent of Products and Corporate Sales at Itaú Unibanco
Instant Digital Payments with Wise Platform
Initially, it will be possible to send and pay instantly in Euros and Pound Sterling for transactions under the same holder. The aim is to offer 12 additional currencies for digital payments, including US dollars, Canadian dollars, Australian dollars, Japanese yen, and New Zealand dollars, by the end of 2025.
“The partnership with Itaú, is a true testament to how banks can deliver better cross-border payments experiences to their customers at scale by leveraging the capabilities of Wise Platform. Itaú shares our strong vision of improving cross-border money movement. We are excited to work with them to make cross-border payments – fast, transparent, affordable and convenient – a core element of their service.”
Steve Naudé, Global Managing Director of Wise Platform
With this initiative, Itaú Unibanco advances its innovation strategy and reaffirms its commitment to placing the customer at the centre of the journey, It is offering solutions that combine cutting-edge technology with the solidity and trust of a leading institution in the Brazilian financial market.
Guy Marion, CMO at Chargebee, on how businesses can get ahead of the ‘click-to-cancel’ movement through customer-centricity
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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.
MoneyLIVE Summit 2025: A stellar combination of thought leadership, cutting-edge technology showcases and unparalleled networking opportunities
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The MoneyLIVE Summit 2025, held on March 10th-11th at London’s Business Design Centre, once again positioned itself as one of the most significant events in the banking and financial services industry. With over 1,500 attendees, 200+ speakers, and an agenda packed with insights on digital transformation, AI-driven innovation, and payment advancements, the event delivered a comprehensive overview of the future of financial services.
As one of Europe’s most influential FinTech and banking conferences, MoneyLIVE Summit attracted executives from leading institutions, including HSBC, Revolut, Standard Chartered, Barclays, Google, and Mastercard, providing attendees with unparalleled networking opportunities and deep dives into the latest industry developments.
The 2025 edition of MoneyLIVE Summit focused on several key themes within the financial sector, including:
AI and Automation in Banking
The Future of Payments and Open Banking
Sustainability and ESG in Finance
The Evolution of Embedded Finance
Cybersecurity and Fraud Prevention
Modernising Legacy Systems
AI and Automation: The Next Frontier
One of the most anticipated discussions centredd on Artificial Intelligence (AI) and Automation in Financial Services. Keynote speakers such as Taylan Turan (CEO, Retail Banking, HSBC) and Francesca Carlesi (CEO, Revolut UK) highlighted how AI is revolutionising customer interactions, risk assessments, and fraud detection.
A standout panel featured representatives from Google Cloud, Lloyds Banking Group, and Monzo, discussing the ethical implications of AI-driven banking and how institutions can balance efficiency with regulatory compliance. The consensus? AI is no longer a futuristic concept but an operational necessity.
On the opening day we spoke with Tim Mason, Managing Director for Artificial Intelligence at Deutsche Bank, and Publicis Sapient VP Jan-Willem Weggemans, about the rise of Agentic AI. Look out for this feature in the May edition of FinTech Strategy Magazine. Publicis Sapient also hosted an AI Champions Meet Up.
The Future of Payments and Open Banking
With open banking continuing to disrupt traditional financial models, this year’s summit included multiple sessions on its evolution. Speakers from Visa, Mastercard and Stripe explored how real-time payments and digital wallets are reshaping the customer experience.
One of the most engaging sessions was on CBDCs (Central Bank Digital Currencies) and the impact of digital currencies on global trade. Representatives from the Bank of England and the European Central Bank provided valuable insights into regulatory developments and the long-term feasibility of CBDCs in mainstream banking.
Sustainability and ESG in Finance
The financial industry’s role in Environmental, Social, and Governance (ESG) initiatives was another critical theme. With growing investor interest in sustainable finance, executives from Barclays, NatWest, and BlackRock discussed how banks can integrate ESG principles into lending and investment strategies.
A major highlight was a fireside chat with Ana Botín, Executive Chairman of Santander Group, who emphasised the need for banks to take the lead in financing climate action while maintaining profitability. She stressed that FinTech innovation must align with sustainability goals to drive real change.
Notable Speakers & Thought Leadership
MoneyLIVE Summit 2025 featured an impressive lineup of speakers, including CEOs, policymakers, and FinTech pioneers. Notable names included:
Francesca Carlesi (CEO, Revolut UK) – Discussed the role of challenger banks in redefining customer expectations.
Taylan Turan (CEO, Retail Banking, HSBC) – Spoke about how traditional banks must adapt to stay competitive in an increasingly digital world.
Saif Malik (CEO, UK, Standard Chartered Bank) – Shared insights on the rise of embedded finance and its impact on global banking.
Anne Boden (Founder, Starling Bank) – Highlighted the impact of neobanks on legacy banking institutions.
Google Cloud & AWS Representatives – Covered AI’s growing role in fraud prevention and customer engagement.
Lee McNabb (Head of Payment Strategy, NatWest) – Shared views on modernising core payment architecture for the long term.
The diversity of perspectives provided attendees with a well-rounded understanding of the industry’s challenges and opportunities in the coming years.
MoneyLIVE Networking & Attendee Experience
Networking has always been a key highlight of MoneyLIVE Summit, and the 2025 edition did not disappoint. The event provided ample opportunities for professionals to connect, with dedicated networking zones, private meeting areas, and an exclusive VIP lounge for C-level executives.
The FinTech Startup Village was a must-visit area, showcasing some of the most innovative fintech startups in Europe. Several emerging companies, specializing in AI-driven financial advisory, blockchain-based payments, and RegTech solutions, presented their groundbreaking products.
A standout initiative was the Women in Finance Roundtable, which focused on fostering greater gender diversity in leadership roles within the financial industry. Featuring influential female leaders from Citi, JPMorgan, and Monzo, the discussion encouraged actionable steps towards inclusivity and representation. Publicis Sapient also hosted a networking session on Celebrating Women in Finance.
Exhibition & Innovation Showcase
The exhibition hall was bustling with activity, featuring booths from major players like IBM, Microsoft, Accenture, and Salesforce, as well as FinTech disruptors showcasing cutting-edge solutions. Attendees had the opportunity to experience hands-on product demos, including AI-powered chatbots, biometric authentication for secure banking, and blockchain-based smart contract platforms.
One of the most talked-about innovations was Quantum Computing in Financial Services, presented by IBM. Experts explored how quantum computing could enhance complex financial modelling, risk analysis, and fraud detection, potentially transforming the industry in the next decade.
Key Takeaways & Industry Impact
MoneyLIVE Summit reaffirmed its reputation as a forward-thinking, insightful event that brings together the brightest minds in finance and technology. Some of the key takeaways included:
AI is mainstream – Banks and fintech firms must embrace AI-driven solutions to enhance customer experience and operational efficiency.
Payments are evolving rapidly – With open banking, digital wallets, and real-time payments on the rise, banks need to innovate or risk being left behind.
Cybersecurity remains a top priority – With increased digital transactions, fraud prevention and regulatory compliance are more critical than ever.
Sustainability cannot be ignored – ESG-focused financial strategies are no longer optional but a necessity for long-term growth and investor confidence.
Embedded Finance is the future – Traditional banks and fintechs must collaborate to integrate financial services seamlessly into everyday life.
MoneyLIVE: The Verdict
MoneyLIVE Summit 2025 lived up to expectations, delivering a stellar combination of thought leadership, cutting-edge technology showcases and unparalleled networking opportunities. For professionals in banking, payments, fintech, or regulatory compliance, this event provided invaluable insights into the industry’s trajectory.
The only potential downside? With so many high-quality sessions running simultaneously, attendees had to make tough choices about which discussions to prioritise. However, the availability of on-demand session recordings meant that all the key insights attendees need were available.
With an impressive lineup of speakers, a strong focus on industry trends, and excellent networking opportunities, MoneyLIVE Summit remains a must-attend event for financial professionals looking to stay ahead in an ever-evolving landscape.
MoneyLIVE Summit is coming to London’s Business Design Centre March 10-11. Book your tickets now!
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Hosted in the FinTech capital of the world, MoneyLIVE Summit is the global payments and banking event bringing together industry leaders at the top of their game. This is where ground-breaking partnerships are forged, where innovation is accelerated and where the brightest ideas are born.
MoneyLIVE Summit sets the agenda for the future of banking and payments
For over 30 years, MoneyLIVE has brought together the movers and shakers of the banking and payments industry. Through impactful conferences, webinars, reports, roundtables and digital content.
Join 1500+ attendees and hear from 200 expert speakers across five stages. Revolut’s UK CEO Dr Francesca Carlesi, Lloyds Banking Group COO Ron van Kemenade, Standard Chartered UK CEO Saif Malik, ABN-AMRO’s CDO Jorissa Neutelings and Groupe Crédit Agricole Group COO Philippe Coue are among the baking leaders sharing insights across Payments Infrastructure, Digital ID, AI & Operations, CX, Digital currencies and Blockchain, Open Banking and much more.
“An unmissable event for those serious about banking and payments transformation.” Global Head of Strategy & Innovation, ING
Startup City
Welcome to Startup City, the innovation epicentre of MoneyLIVE Summit 2025. This designated hub is designed to accelerate start-up and scale-up growth, featuring a dynamic stage, exclusive networking zone, and high-impact deal booths.
If you’re on the hunt for funding, seeking scaleup opportunities, or looking to forge distribution partnerships, you’ve found your ultimate arena.
Luke Kyohere, Group Chief Product and Innovation Officer at Onafriq, on payments innovations to look out for this year
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The global payments landscape is undergoing a rapid transformation. New technologies coupled with the rising demand for seamless, secure, and efficient transactions has spurred on an exciting new era of innovation and growth. With 2025 fast approaching, here are important trends that will shape the future of payments:
1.The rise of real-time payments
Until recently, real-time payments have been used in Africa for cross-border mobile money payments, but less so for traditional payments. At OnAfriq, we are seeing companies like Mastercard investing in this area, as well as central banks in Africa putting focus on this.
2. Cashless payments will increase
In 2025, we will see the continued acceleration of cashless payments across Africa. B2B payments in particular will also increase. Digital payments began between individuals but are now becoming commonplace for larger corporate transactions.
3. Digital currency will hit mainstream
In the cryptocurrency space, we will see an increase in the use of stablecoins like United States Digital Currency (USDC) and Tether (USDT) which are linked to US dollars. These will come to replace traditional cryptocurrencies as their price point is more stable. This year, many countries will begin preparing for Central Bank Digital Currencies (CBDCs), government-backed digital currencies which use Blockchain. The increased uptake of digital currencies reflects the maturity of distributed ledger technology and improved API availability.
4. Increased government oversight
As adoption of digital currencies will increase, governments will also put more focus into monitoring these flows. In particular, this will centre on companies and banks rather than individuals. The goal of this will be to control and occasionally curb runaway foreign exchange (FX) rates.
5. Business leaders buy into AI technology
In 2025, we will see many business leaders buying into AI through respected providers relying on well-researched platforms and huge data sets. Most companies don’t have the budget to invest in their own research and development in AI. Therefore, many are now opting to ‘buy’ into the technology rather than ‘build’ it themselves. Moreover, many businesses are concerned about the risks associated with data ownership and accuracy so buying software is another way to avoid this risk.
6. Continued AI Adoption in Payments
In payments, the proliferation of AI will continue to improve user experience and increase security. To detect fraud, AI is used to track patterns and payment flows in real time. If unusual activity is detected, the technology can be used to flag or even block payments which may be fraudulent. When it comes to user experience, we will also see AI being used to improve the interface design of payment platforms. The technology will also increasingly be used for translation for international payments platforms.
7. Rise of Super Apps
To get more from their platforms, mobile network operators are building comprehensive service platforms. These integrate multiple payment experiences into a single app. This reflects the shift of many users moving from text-based services to mobile apps. Rather than offering a single service, super apps are packing many other services into a single app. For example, apps which may have previously been used primarily for lending, now have options for saving and paying bills.
8. Business strategy shift
Recent major technological changes will force business leaders to focus on much shorter prediction and reaction cycles. Because the rate of change has been unprecedented in the past year, this will force decision-makers to adapt quickly, be decisive and nimble. As the payments space evolves, businesses, banks, and governments must continually embrace innovation, collaboration, and prioritise customer needs. These efforts build a more inclusive, secure, and efficient payment system that supports local to global economic growth – enabling true financial inclusion across borders.
Nick Botha, Payments Lead at AutoRek, on meeting customer expectations for faster, cheaper and more transparent cross-border payments
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As international trade and e-commerce continues to expand, cross-border payments have grown substantially. According to the latest report from EY, global cross-border payments are growing at around 9% annually. And they are expected to reach $290tn by 2030. As the digital economy continues to expand, the demand for more efficient, secure, and inclusive payment systems becomes crucial. The shift from traditional T+2 and T+1 settlement periods to real-time payments has already reshaped domestic transactions. Setting the stage for a similar revolution in cross-border payments.
Whilst there is plenty of opportunity for cross-border payments, sending and receiving payments can be a complex and challenging process. This is due to rising data volumes, fragmented systems, and different regulations across multiple territories. So, how can businesses best prepare for the evolving cross-border payments environment?
Breaking down the barriers for cross-border payments
It’s no secret that achieving real-time cross-border payments involves complexities beyond technology alone. Regulatory challenges are a significant hurdle. Multiple financial institutions across different countries have distinct rules around payments, fraud detection, and compliance. For example, the stringent regulations of the UK’s Financial Conduct Authority (FCA) contrasts with the relatively flexible approach of the US Federal Reserve. This diversity in regulations can lead to inefficiencies, increased costs, and compliance burdens. Harmonising these regulations will be crucial for creating a seamless global payment network.
In addition, cross-border payments often take several days to process through traditional banking systems. This can be due to time zones, inefficient processes and the involvement of multiple intermediaries, including correspondent banks, and local financial institutions. Each intermediary adds time and cost to the transaction, and the entire process can take between two to five days. For businesses, these delays can disrupt cash flow, complicate supply chain management, and create issues with paying vendors and employees promptly. Worryingly, the delay can prove hugely problematic for SME’s who often operate with tighter cash reserves and need more immediate access to funds.
Furthermore, businesses engaged in cross-border transactions must also navigate the complexities of fluctuating exchange rates. Currency exchange rates can change dramatically, influencing the cost and value of transactions. This could lead to financial losses if a payment is delayed or if a favourable exchange rate changes before the transaction is processed.
Unlocking potential by reducing complexity
To overcome cross-border challenges, G20 leaders endorsed a roadmap for enhancing payments globally in 2020. This initiative set out to address the four key challenges related to cost, speed, access, and transparency. Therefore, paving the way for a more efficient and inclusive financial ecosystem. For example, the G20 aims for 75% of cross-border payments to be credited with the beneficiary within an hour by 2027. The past couple of years have undoubtedly brought major milestones with respect to this roadmap. Most notably, SWIFT has been a central figure in traditional cross-border payments. It provides a standardised network for financial institutions to send and receive information about transactions.
The challenges faced by businesses with cross-border payments has unlocked new opportunities for financial institutions to develop innovative solutions. FinTechs are leveraging advanced technology, including blockchain, artificial intelligence (AI), and digital currencies, to make cross-border payments faster, cheaper, and more transparent. Blockchain and cryptocurrencies are often cited as potential game changers in cross-border payments due to their ability to eliminate the need for intermediaries, whilst enabling instant and transparent transactions. For example, Ripple, one of the leading blockchain-based payment networks, uses its RippleNet platform to facilitate payments between countries. This provides faster and more cost-effective payments.
Cross-border payments traditionally have been more complex than domestic transactions due to multiple intermediaries. Furthermore, it’s important to note ongoing international collaboration will be crucial to ensuring cross-border payments remain seamless, secure, and inclusive. This opportunity can be maximised through automatic reconciliation. By automating the processing of high volumes of date from cross-border payments, businesses can remove the distractions of mismatched information, fraud concerns and accounting hold-ups. It also manages inbound payments, outbound payments, and inter-currency transfers through a centralised framework. This enables businesses to gain complete visibility of the data.
Opportunities on the horizon for cross-border payments
The pace of change within the payments and wider fintech industry is showing no signs of slowing down. Customer expectations for faster, cheaper and more transparent payments are driving change across the sector. It’s certainly an exciting time for the industry, but financial institutions cannot afford to rest on their laurels. Further growth can be found on the horizon for those who are equipped with the right knowledge to be able to pursue cross-border payments effectively.
OnAfriq’s Amber Thetford, Chief Product Officer – Card issuing and processing, on how prepaid debit cards can enable companies to take advantage of of trade opportunities across the African continent
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As businesses seek to expand across African borders, cashless payment solutions offer a safer method of transferring money. Prepaid debit cards provide security while mitigating many infrastructure and regulatory challenges.
The African Continental Free Trade Area Agreement (AfCTA) is moving into the operational phase. It is becoming clearer that part of its success lies in ensuring entrepreneurs and small businesses can effectively trade and receive payments across borders.
African Trade
As the African Union has noted, the trade area will be the biggest since the World Trade Organization was formed in 1995. Africa’s population is currently 1.2 billion people. A figure expected to reach 2.5 billion by 2050.
South Africa took its first step in making AfCTA a reality when former Minister of Trade, Industry, and Competition, Ebrahim Patel, launched the implementation of the start of preferential trade this year. The South African Revenue Service also certified two consignments to Ghana and Kenya.
Yet, with trade expected to grow among members from 15%-18%, a safe way of moving money is required given the risk that cash presents. Some nine-tenths of transactions in sub-Saharan Africa are, based on World Bank information, in cash.
Card payments in the digital ecosystem
The large amounts of cash involved in trade are also cumbersome and difficult to physically transport between markets. Card payments, part of the digital ecosystem, can enable efficient, secure, and transparent transactions. These are essential for facilitating trade.
Card payments can eliminate the need for manual intervention and reconciliation when it comes to banking and bookkeeping. This, the World Bank states, makes them, on average, three times more cost-effective than conventional purchase order costs.
Mobile money payments have greatly improved Africa’s ability to make cross-border payments. However, they do not meet the full scope of needs of individuals or businesses. As the United Nations points out, there are regulatory bottlenecks. Furthermore, a lack of interconnectivity among mobile transactions in some countries means people cannot transfer money across borders. Moreover, limitations of infrastructure, accessibility, and interoperability make it difficult for their users to access the global digital economy. As a result, this type of cross-border payment can be limited.
Prepaid cards can solve trade problems
There are solutions to these trade dilemmas. Prepaid cards can enable businesses and individuals to transact with global institutions and marketplaces without the need to own a bank account. This option removes a pain point for a business that would otherwise need to accept local alternative payment methods or cash. Navigating challenges like high fees, currency shocks and a lack of access to traditional banks can be simplified through prepaid cards. This makes them a pivotal instrument that enhances Africa’s connection to the global economy.
For example, one of OnAfriq’s customers provides payroll solutions for seafarers and cruise ships, which frequently travel to different countries. Once the card is loaded, it is very convenient for sailors to use it as one would a normal debit card. They can swipe to pay for purchases or transmit money across borders. The beauty of this option is that whoever is loading the card with money, can be based anywhere in the world. Moreover, the same is also true of the person holding the card.
Prepaid cards can also be used to manage expenses because they can be provided to managers. For example, a bookstore could make independent decisions about business-related purchases. But only up to a certain amount. This has the added advantage of speeding up operations as there are no lengthy delays across the company when it comes to acquiring stock. Furthermore, it goes some way towards eliminating fraud as the card has a set limit.
Larger companies with staff who travel extensively can also provide gratuities for their employees. They can then cover incidental expenses without having to dip into their own pockets or bring back paperwork to be reimbursed.
AfCTA dream can become a reality
A platform that simplifies a user’s ability to transfer money to cards brings the AfCTA dream closer to reality. The versatile power of prepaid cards can be used to promote free trade between countries and unite Africa’s fragmented payment landscape.
Prepaid solutions can aid businesses seeking to operate in other African countries to thrive – making AfCTA’s aim a reality and boosting economic growth for all.
Jan-Willem Weggemans, Vice President, Commercial Payments Lead at Publicis Sapient on the outlook for payments modernisation
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The payments industry is transforming rapidly, driven by customer demand shifts, regulatory developments and technological advances. Payments players need a tailored innovation approach for each value opportunity, based on their strategic position and ambition and each driver of change.
Understanding the drivers of payments modernisation
Driven by technological advancements, shifting customer expectations and regulatory developments, banks and financial institutions must adapt their offerings. They must modernise their payments to remain competitive in this ever-evolving landscape as we start this new year.
Customers expect real-time, seamless and personalised payment experiences that are now standard expectations across financial services. Not only that, but users are demanding frictionless cross-border transactions, alongside advanced features like biometric authentication.
Massive advances in technological capabilities drive customer expectations. Cloud computing, data platforms, Artificial Intelligence (AI), and Application Programming Interfaces (APIs) enable faster, scalable, resilient, and more secure payment solutions. These enable opportunities to innovate customer propositions and experiences. Moreover, supporting the modernisation of processes and technologies can lower costs and improve resilience.
Regulatory developments are a key factor. From new (instant) payments schemes to ISO standards to KYC/AML requirements, there is an ongoing need to change/modernise the payments operating model. And possibly innovate client solutions.
For these reasons, legacy banks can struggle with the pace of change and inefficiencies. Including enabling FinTech disruptors to gain a competitive advantage. So, how can banks examine these learnings and implement better change?
Progressive modernisation and the impact of GenAI
Banks and financial institutions can take a tailored approach to payment innovation and modernisation. In all of these approaches, modernising an incumbent player with significant legacy challenges is generally a process of progressive modernisation. Big bang approaches and the building of neo banks to move a legacy bank forward have generally not delivered success.
Progressive modernisation enables a bank to move in a controlled way from the legacy to the modern state. This requires running the legacy and modern services in parallel. Meanwhile, the integration is enabled by decoupling the hardwired systems top and bottom (integration and data). Only then can you spin up the modern enterprise and core services and progressively direct more clients/transactions/products over the new stack.
Progressive modernisation is becoming more attractive and suitable for many clients. Furtherore, GenAI can materially alter the cost and duration of these programs, offering lower risk and a significantly improved business case. With new and innovative solutions that utilise GenAI at their core, the whole journey can be greatly accelerated. Including Legacy system discovery, Target state design, Backlog creation, and Building and Testing.
Three key approaches when facing the need to modernise Payments
Payments players are facing an ongoing modernisation need, driven by changing client behaviours, technology innovation and regulatory activism.
Broadly, we recognise three approaches to payment modernisation, including:
Fix the edge – either top of the stack or bottom, a small fix, without touching 90% of the existing tech.
Incremental uplift – installing a modern solution (but not fully end-to-end). For example, a new core system for a set of products/customers.
Move to native build – setting steps on the progressive modernisation journey, after investing in decoupling the hardwired legacy systems.
To select the right approach, we consider two key factors: the event and the players. The event looks at the size of the opportunity (or materiality of the threat) and the size/complexity of the change. The player looks at the performance of the existing operating model, whether payments are core, and whether the ambition is to be a leader in payments or to be part of the majority of players.
How a player’s participation strategy drives modernisation choices. A client offers white label card processing services, and in their market, they need to offer the most modern solution and lead with modern technology, AI, and embedded compliance/risk solutions. A major incumbent bank decided to invest primarily in customer value propositions, driving value from the broader client relationship. The bank opted for a processing-as-a-service model when it needed to modernise the processing platform.
Looking at the two extreme options, we see that fixing the edge works well for players where payments are not core, when they do not need to be the first mover, or when their existing operating model is performing well. From an event perspective, it fits when the opportunity is small and/or the change is minor in effort and complexity.
At the other end of the spectrum, moving on the journey to native build is most suited for players where payments are core. Where they want to be the first mover in the market, and where the existing operating model is facing major challenges. From an event perspective, it is more suited when the event supports a significant value opportunity (or threat to the business) and requires a significant change.
Making payments progress real
Many new payment options, including A2A payments and instant payments, offer incremental benefit cases for many players. These are not large enough to kick off the incremental modernisation journey. Thus, most players will opt for a “fix the edge” or “incremental” modernisation approach and wait for another event for a full modernisation.
Regarding regulation. The new ISO20022 standard is due to come into full force in November 2025. However, less than a third of messages were exchanged using the new standard in late 2024. An often cited reason for delays in implementing regulatory changes is the edge approach replanning required to keep up with the evolving set of rules regarding the ISO standards. The evolving set of rules is inevitable, as the regulator is responding to market experiences and feedback from trying to implement the initial rules set. Thus, in regulatory change with this level of impact, a cloud-native approach would be better, enabling a more nimble/agile response to continuous changes.
What is the next move?
Faced with the inevitable need to invest in payments, we suggest taking a portfolio approach and looking 2-3 years ahead when evaluating individual modernisation events. And your strengths/weaknesses and strategy. Modernisation is not just a technical upgrade but a strategic enabler that can drive efficiency, resilience, and innovation. You can ensure that each modernisation effort contributes to a cohesive, future-ready payments ecosystem by aligning your investments with long-term business goals. This approach will help you avoid costly short-term fixes. And build a scalable, agile infrastructure that supports evolving customer expectations, regulatory requirements, and competitive pressures.
ClearBank, the enabler of real-time clearing and embedded banking, recently announced its partnership with Airwallex. A leading global Digital Payments and…
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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
Yuno and PayPal team up to simplify Digital Payments for merchants with flexible options to broaden market reach and unlock new revenue streams
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Yuno a leading payment orchestration platform, has announced a strategic collaboration with PayPal, a global leader in Digital Payments processing. This collaboration significantly enhances Yuno’s offering, giving merchants seamless access to PayPal’s vast active user network. This now surpasses 400 million worldwide.
Unlocking revenue streams with Digital Payments
Yuno-powered merchants can now effortlessly offer PayPal’s secure and flexible payment option, broadening their market reach and unlocking new revenue streams. Trusted by millions worldwide, PayPal allows users to make purchases, transfer funds, and pay bills in a fast, easy, and secure way, without the need to repeatedly enter card payment information, contributing to reducing digital footprint and providing the security users are looking for.
Including this partnership, Yuno now supports over 300 global payment methods via its intuitive, user-friendly interface, making it easy for merchants to scale quickly by offering the most popular and locally-relevant payment methods in each market. Yuno’s platform also provides access to other innovative features. These include one-click checkout, advanced fraud protection, and optimised payment routing. This boosts transaction success rates and prevents lost sales in the wake of outages at a payment provider.
Catherine Kaupert, Global Head of Partnerships of Yuno, commented: “We’re thrilled to team up with PayPal, a well-known and trusted name in Digital Payments processing globally. This integration further strengthens Yuno’s capabilities, allowing our merchants to tap into PayPal’s extensive network and drive growth with ease. Together, we are simplifying payments, making them more secure, and enabling businesses to scale without friction.”
Paola Fuentes, Head of Partnerships for Hispanic Latam at PayPal, added: “Our affiliation with Yuno integrates our entire product portfolio. Including PayPal Checkout and credit and debit card payment processing to provide cutting-edge payment solutions for both customers and businesses. By joining forces, we are expanding the benefits of both companies’ offerings, giving consumers the option to select the payment method that suits them best and take advantage of instalments. According to recent data from AMVO, this is one of the main incentives for Mexican consumers to make purchases through the digital channel”.
Last year, Yuno secured $25 million in a Series A round led by Andreessen Horowitz, Tiger Global, DST Global Partners, Kaszek Ventures, and Monashees, fuelling its expansion across Asia, Europe, the Middle East, and Africa.
About Yuno
Yuno has emerged as a dominant force in global payment orchestration. Its core mission is to empower global commerce by enabling businesses of all sizes to accept and disburse Digital Payments anywhere in the world. Furthermore, fostering financial inclusion.
Yuno enables businesses to access over 300 payment methods worldwide. As well as innovative features including one-click checkout, smart routing, and robust anti-fraud tools via a single unified, easy-to-use interface. Yuno serves a global customer base that includes McDonald’s, inDrive, Rappi and other renowned brands across more than 80 countries.
About PayPal
PayPal has been revolutionising commerce globally for more than 25 years. The company creates innovative experiences that make moving money, selling, and shopping simple, personalised, and secure. PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy.
Simon James, CEO of PayComplete, on why 2024 was a pivotal moment for cash and what the future holds
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After several years of doom and gloom and many proclaiming the death of cash, the last 12 months have well and truly put that idea to bed. Despite many expecting the COVID pandemic to be the last nail in the coffin, four years later, cash is still in widespread use. The future looks bright. Recent figures from the British Retail Consortium (BRC) underscore the story of 2024… Cash is no longer on the way out and is set to remain a critical part of the payment ecosystem and economy for the foreseeable future.
What happened with cash?
The resilience and ongoing importance of cash to payments, finance, and the economy is down to two factors. Firstly, it’s clear now that consumers care. Recent research from PayComplete’s ‘Why won’t cash just die?!’ report found 89% of consumers view the ability to pay in cash as important to customer satisfaction. More importantly, when it is removed as a payment option, only 26% of consumers comply. Meanwhile, an even larger group (36%) vote with their feet and walk away without making a purchase.
It’s not just customer experience that’s impacted by the absence of cash as a payment option. Brand perception also suffers. Research findings discovered nearly half (47%) of consumers believe organisations that don’t accept it are putting profits ahead of customer satisfaction. Moreover, when denied the opportunity to pay in cash, respondents felt a range of emotions, including inconvenience (54%), outright annoyance (52%) and, for those who walked out without making a purchase, anger (16%). Failure to offer this payment choice is a big risk for businesses. It can negatively impact customer satisfaction, brand reputation, and lead to outright anger from customers.
However, the value consumers place on cash goes beyond it being a way of completing a transaction. It is also seen as critical to supporting local communities. Interestingly, the research found 65% of consumers know card payments incur charges for businesses, resulting in nearly a quarter (22%) actively choosing to pay in cash instead. In fact, over half (57%) of consumers want to help businesses save money by paying in cash, which jumps to 71% for small businesses, tipping, and personal services. Paying with cash, therefore, is not simply a way of transacting with a company. For many shoppers, it’s a sign of support.
Regulators and lawmakers protect cash
However, consumers continuing to care is only part of the story. Furthermore, an important factor has been the steps regulators and governments have taken to protect access to cash. In the UK, 2024 was the year that the FCA’s Access to Cash came into force. This made it a legal requirement for banks and building societies across the UK to provide a minimum level of access to cash. Across the pond, similar measures have been taken by Connecticut, Massachusetts, Colorado and Tennessee as US states move to enshrine access to cash into law. With lawmakers realising its importance, and creating regulations to protect access to it, the long-term future of cash is now secure.
What does it all mean?
2024 has been a watershed year for cash and its future. No longer are there debates and discussions about a cashless society. Instead, it is here to stay, and, with that certainty, it makes it far easier for businesses to plan for their own future. Businesses waiting to see what would happen with cash before deciding if it was part of their future now have a conclusive answer and can plan accordingly. Moreover, those who have already taken steps to move towards a cashless future will need to reverse course or risk facing consumer wrath.
The rise of CashTech
The good news for businesses is that cash management and handling technology hasn’t stood still these past few years. There is a combination of smart hardware and software to finally unify management, processing, and handling. CashTech is a new set of solutions that make it quicker, easier, and more efficient than ever before for businesses to handle cash. Combining hardware and software, CashTech solutions enable enterprises to digitise their handling. Making it easy to assess business-critical areas like cash flow management and better support accounting and business management processes. By automating handling, businesses can also avoid the unnecessary costs of discrepancies and inefficiencies from manual processes.
In the coming years, when we look back on 2024, we will see it as the year the future for cash was confirmed. Talk of a cashless future and the death of hard currency was wide of the mark. While cash may not usurp debit and credit card payments, neither will they bring about its end. With the future now clear, it’s time for businesses to adopt CashTech in 2025 and turn inefficient processes into a game-changing competitive advantage.
About PayComplete
PayComplete is the global leader in cash management solutions, combining bleeding edge hardware solutions with game changing software, unifying cash management with other key payments and operational systems. Dedicated to innovating self-service experiences and operations for both consumers and employees, The PayComplete IoT platform is made up of an adaptable set of SaaS and machine software, intelligent devices, and professional, technical and merchant services. PayComplete Connect unifies the management of transactions, users, devices, and data across the enterprise, bringing digital precision to cash transactions and systems. PayComplete serves a broad range of industries, including retail, transportation, financial services, vending, cash centers, mints and more.Industry leaders, work with PayComplete to make their cash transaction-based businesses more innovative, agile, and efficient.
Nick Merritt, Executive Director at Designit, on six developments shaping the future of banking in 2025
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Retail banks are entering 2025 with a heady mix of ambition and trepidation. A bewildering blend of technological wizardry and ever-shifting customer expectations has forced banks into a relentless cycle of adaptation. To stay ahead, six key areas are emerging as the lodestars guiding their strategies for the coming year.
Digital Transformation and Automation – Predicting Your Needs Before You Have Them
Imagine a world where banks predict your needs before you’ve even realised them. From AI-driven chatbots that never sleep to robo-advisors whispering bespoke investment tips into your ear, automation is rewriting the rulebook on customer interaction. But the magic isn’t confined to the shiny front-end; back-office systems are also getting a makeover. Robotic Process Automation (RPA) is busy in the engine room, banishing inefficiencies and sidestepping human error with quiet efficiency.
And then there’s the matter of personalisation—a concept that banks are finally treating as more than a marketing buzzword. Armed with advanced data analytics, banks are no longer just responding to customer needs—they’re predicting them. Pre-approved loans or a savings plan tailored to your Friday night wine habit? No problem.
Cybersecurity: Evolving as Fast as the Threats
With this digital power comes a greater need for vigilance. Cybercriminals are evolving just as quickly, turning cybersecurity into a battlefield. AI-driven fraud detection tools now scan for anomalies with hawk-like precision, while biometric authentication methods—fingerprints, faces, even voices—transform our bodies into passwords.
Cyber resilience has become essential, ensuring banks bounce back swiftly from attacks. Trust, in banking as in life, remains hard-won and easily lost.
Sustainability: ESG as a Competitive Advantage
Environmental, Social, and Governance (ESG) criteria have transitioned from being a footnote to taking centre stage. Customers are no longer content with bland promises of responsibility—they’re demanding action. Enter green loans with their tempting interest rates, ESG investment funds that let you save the planet while saving for retirement, and carbon-neutral pledges that make you feel virtuous about your overdraft.
It’s not just a moral imperative; it’s good business sense. In a world increasingly attuned to sustainability, ESG is a differentiator. Banks that can convincingly wear the green badge of honour are more likely to attract eco-savvy customers and forward-thinking investors alike.
Embedded Finance & Partnership Models
Embedded Finance might sound like jargon, but it’s quietly reshaping how we interact with money. Why go to a bank when the bank can come to you—disguised as a “Buy Now, Pay Later” button on your favourite shopping app or as a seamless payment option in your rideshare app? Banks are waking up to the fact that ecosystems, not high-street branches, are where the action is.
Partnerships with fintech firms are unlocking new avenues for growth. Whether it’s integrating loans into car dealership platforms or powering payments for subscription services, embedded finance is giving banks a chance to slip into customers’ lives in ways they barely notice—but deeply appreciate.
Cryptocurrencies: Cautiously Testing the Waters
And then there’s the crypto conundrum. Once the domain of tech evangelists and speculative investors, cryptocurrencies are elbowing their way into the mainstream. Bitcoin ETFs have made it easier for traditional investors to dip a toe into the crypto waters, while Ethereum and Ripple (XRP) are offering solutions that align with real-world banking needs.
Ripple’s laser focus on cross-border payments could revolutionise international money transfers, slashing costs and speeding up transactions. Ethereum’s smart contracts, meanwhile, promise to simplify complex processes like loan approvals. And Bitcoin, the poster child of the crypto world, is slowly gaining traction as a viable payment method.
Yet, it’s not all smooth sailing. Volatility, scalability issues, and a regulatory environment that can best be described as “uncertain” are significant hurdles. Still, with pro-crypto voices gaining ground, 2025 might just be the year retail banks cautiously dip their toes into the digital currency pool.
Personalisation: The Age of “Me”
Customers expect their banks to understand more than just account numbers; they want personalised interactions that anticipate their ambitions. Advanced analytics are turning this into reality, moving banking from transactional to relational.
Imagine a bank that adjusts your credit card rewards for your travel habits or nudges you toward your dream car before you even start shopping. Personalisation isn’t just a service upgrade—it’s a survival strategy.
Looking Ahead to 2025 and Beyond…
The opportunities for retail banks in 2025 are as immense as they are complex. Digital transformation is reinventing customer experiences, ESG is aligning institutions with the values of an increasingly conscientious public. Meanwhile, Embedded Finance is quietly rewriting the rules of engagement. Cryptocurrencies, for all their challenges, are becoming harder to ignore, while data-driven personalisation is making banking feel more like a partnership than a transaction.
For banks willing to embrace these shifts, the rewards are clear: deeper customer loyalty, stronger revenue streams, and a reputation for innovation. Standing still is no longer an option.
Ripple, a leading provider of digital asset infrastructure for financial institutions, has announced Ripple USD (RLUSD) will be available on…
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Ripple, a leading provider of digital asset infrastructure for financial institutions, has announced Ripple USD (RLUSD) will be available on global exchanges. RLUSD is an enterprise-grade, USD-denominated stablecoin. Created with trust, utility, and compliance at its core, it is backed by Ripple’s years of experience working with crypto and the existing financial system.
RLUSD will be initially available on Uphold, Bitso, MoonPay, Archax, and CoinMENA. Additional listings will be made on platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, Zero Hash and others in the coming weeks. Each RLUSD token is fully backed by U.S. dollar deposits, government bonds, and cash equivalents. Designed to ensure its stability, reliability, and liquidity. To maintain the highest standards of transparency, Ripple will publish monthly, third-party attestations of RLUSD’s reserve assets, conducted by an independent auditing firm.
“Early on, Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter. Widely regarded as the premier regulatory standard worldwide,” said Brad Garlinghouse, Ripple’s CEO. “As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD. They can offer real utility and are backed by years of trust and expertise in the industry.”
A Growing Ecosystem Supporting Global Adoption
Key RLUSD partners include leading global exchanges, market makers, and payment providers. They are set to drive adoption and usage across the Americas, Asia-Pacific, UK, and Middle East regions. RLUSD is ideal for financial use cases and allows institutions to:
Access liquidity for remittance and treasury operations.
Seamlessly integrate with decentralised finance (DeFi) protocols.
Reliably bridge between traditional fiat currencies and the crypto ecosystem. Ensuring a seamless and efficient transition when entering (on-ramping) or exiting (off-ramping) the crypto space.
Provide collateralisation for trading tokenised real-world assets such as commodities, securities, and treasuries onchain.
Early next year, Ripple Payments will use RLUSD to facilitate global payments on behalf of its enterprise customers. Ripple Payments has served $70 billion in payments volume and counting. Furthermore, it has near-global coverage with 90+ payout markets. Moreover, this represents over 90% coverage of the daily FX market. RLUSD is available on both the XRP Ledger and Ethereum blockchains, offering flexibility and scalability for a broad range of financial use cases.
RLUSD: Raising the standard for Stablecoins
Raghuram Rajan, former Governor of the Reserve Bank of India, and Kenneth Montgomery, former First Vice President and Chief Operating Officer of the Federal Reserve Bank of Boston, will join the RLUSD advisory board. They will provide strategic guidance on regulatory, financial, and operational aspects to support RLUSD’s stability and growth.
Rajan and Montgomery join the ranks of the existing advisory board including former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, Vice Chairman of Partners Capital and former CENTRE Consortium CEO David Puth, and Ripple co-founder and Executive Chairman Chris Larsen.
“Stablecoins could become the backbone of private payments by offering a secure, scalable, and efficient alternative to traditional systems. With its focus on compliance and reliability, RLUSD aims to establish new standards for trust and to play a pivotal role in shaping the future of payments. Joining the Advisory Board provides me an opportunity to counsel RLUSD as it embarks on its journey in the rapidly evolving financial landscape,” said Raghuram Rajan, former Governor of the Reserve Bank of India.
“I am excited to join Ripple’s advisory board at such a pivotal moment for digital finance,” said Kenneth Montgomery, former First VP and COO at the Federal Reserve Bank of Boston. “Stablecoins are rapidly emerging as a cornerstone of the payments landscape. They are delivering the speed, efficiency, and cost-effectiveness that traditional systems often struggle to achieve. I look forward to collaborating with the Ripple team to support the global growth and adoption of RLUSD. Unlocking new opportunities for financial inclusion and modernising the future of payments.”
Ripple: modernising the future of payments
RLUSD sets the standard for stablecoins, combining innovative functionality with the regulatory rigor and credibility of an NYDFS-issued New York limited purpose trust company. Furthermore, this highlights Ripple’s leadership in fostering trust and transparency in digital assets.
Ripple’s President Monica Long commented on X: “The release of RLUSD marks a new chapter – both for the XRP Ledger, as well as Ripple, for use in our $70B payments flows. Combining our 10+ years in the business; the rigour and compliance required with stablecoin issuance by a NYDFS chartered company; and an experienced Advisory Board – RLUSD is launching from day one with credibility, utility and a whole host of partners ready to support it!”
Adam Zoucha, MD EMEA at FloQast, on how businesses will modernise financial processes in 2025
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With 45% of accountancy firms and in-house finance teams facing talent shortages, 2025 is going to be a critical year for many. Financial transformation is going to be the watchword. The conditions companies are facing will push them to speed up the transformation of their operations, modernising their financial processes while strengthening their company culture and vision.
The year ahead will likely see a continuation of the current period of instability, posing serious challenges for accounting teams looking to grow their business. The impact of global geopolitics is hard to predict which, twinned with the UK economy’s persistently slow growth rate, means companies will need to innovate to succeed – embracing automation, AI, and cutting-edge compliance processes.
It’s not all about the macro trends, though. On an individual level, our research this year has shown that employees are feeling the strain, and business leaders will need to take that seriously in 2025. The talent shortage is a vicious cycle – the harder it is for companies to find and retain talent, the more pressure remaining team members end up having to shoulder. The right technology can play a crucial role in reducing that stress and breaking the cycle.
Alongside those real challenges, there are real opportunities. The accounting business is changing fast, and it’s a great time to be in the industry. As we draw 2024 to a close, here are five key things accounting firms can expect to see in the new year.
Financial Transformation moving up the agenda
We’ve already looked at some of the reasons why financial transformation is going to be critical in 2025, but that doesn’t mean every CFO and accountant in the business is rushing to deliver. Based on our research 60% of accountants and CFOs still do not consider it a top priority – mainly because most don’t truly know what it means for their business, so education is key.
In essence, companies should aim to align their finance functions more closely with their organisational goals, enabling accountants to bring their expertise and insight to the decision-making process. As the finance function’s strategic role grows, there will be an urgent need for agile, digital tools that enhance collaboration and efficiency. For CFOs, embracing this transformation is essential to navigate new complexities with precision and effectiveness.
Accountancy teams will embrace new tools for the future
The talent gap present in the industry is unlikely to change any time soon. It takes time to train people, and accounting has a bit of a PR problem – its status as a secure, skilled job is battling with perceptions of stress and burnout.
As a result, in 2025, leaders will increasingly look to keep accountants motivated, engaged, and fulfilled as the declining population of new candidates continues to heap pressure on accounting teams—a trend that’s unlikely to reverse anytime soon.
It’s essential that business leaders retain their finance professionals by fostering a fulfilling work environment. They can help by upskilling accountants and adopting technologies to reduce mundane and repetitive tasks. CFOs can play a key role by equipping their teams with future-focused skills, blending technology with strategic insight to drive real value within their organisations.
AI will power Tansformation in 2025
Transformation in 2025 won’t be limited to removing internal silos and improving staff retention, crucial though those things are. We’re also going to see AI helping accountants become key players in driving business success. The real value of AI will become apparent this year. For finance teams, it will act as a copilot, automating routine tasks and giving time back to accountants to become strategic assets for their organisations.
This shift will help the industry tackle talent shortages with agility, turning challenges into opportunities for growth. Embracing AI isn’t just about keeping pace; it’s about unlocking accountants’ full potential as key players in driving business success.
Compliance will become a value-generating asset rather than a tick-box exercise
Compliance and risk, when managed properly, can drive real value for organisations. In 2025, the nuanced relationship between compliance, reputation, and risk means it’s likely to move up the corporate agenda.
Technology can be a real driver here, and compliance strategies are fundamental to the larger accounting transformation journey. By taking a more holistic approach to compliance, rather than treating it as a mere check-box exercise, compliance can become a valuable asset. Currently, only 16% of organisations take this strategic view, revealing a significant opportunity for those willing to innovate and elevate their compliance efforts.
Overall, accounting businesses may be facing rough seas, but with the right tools and investments in place, they can unlock new value in 2025: transforming financial processes, improving employee satisfaction, and stepping further into their growing role as strategic advisors.
Join FinTech’s greatest event when Money20/20 Europe returns to Amsterdam’s RAI Arena June 3-5 2025
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FinTech Strategy is proud to be a media partner for Money20/20 Europe 2025.
Launched by industry insiders in 2011, Money20/20 is the heartbeat of the global fintech ecosystem. Some of the most innovative, fast-moving ideas and companies have found their feet (and funding) on its show floor. From J.P. Morgan, Stripe, and Airwallex to HSBC, Deutsche Bank, and Checkout.com.
Furthermore, this is where you’ll find new connections, business-critical insights from inspirational speakers, innovation, and partnerships you need to ensure your business succeeds for whatever comes next in money.
Why Money20/20?
FinTech Strategy spoke with a host of leaders from across the FinTech spectrum. They all agreed on one thing, Money20/20 Europe is ‘the’ place to make connections and build your business.
“It’s the first time I’ve attended Money 20/20 and, we’ve had some fascinating impromptu conversations that will lead to great opportunities. All the big names are here and it’s clearly a popular event from a thematic perspective – payments is a big theme this year. I have a very high regard for the quality of what’s on offer and the way the event has been organised – it’s a great customer experience, the way it’s all been structured, at scale, is actually one of the best I’ve ever seen. The response has been fantastic…”
Stephen Everett, MD Payables & Receivables, Lloyds Banking Group
“The majority of people at Money20/20 genuinely get up in the morning with a growth and innovation mindset. Therefore, you have to balance and recognise that when you walk into this big venue that there will be some wacky ideas. From my experience, I have seen many infant ideas turn into successful ventures, whereas I have also seen some ventures becoming unsuccessful despite having great innovation ideas. Fintechs will fail. Innovation will fail. Experiments will fail. And that’s fine. That’s what Money20/20 is all about.”
Michelle Prance, CEO, Mettle (NatWest Group)
“It’s good for Mettle to come here because we are a fintech that was incubated inside a large bank (NatWest) for fintechs. Quite often their route to market, route to capitalisation, is by going into a main bank being acquired. So, it’s that marriage between a big organisation and the small nimble fintech. People are really interested in what we’re doing because big incumbents want to be fast and nimble. They don’t always have the capital to invest in something like we’ve been able to do with Mettle. So, they’re interested to know the right route to go down. Do they incubate in house? Or do they buy it in? And what’s the right way to do that without killing the culture? These are the types of interesting conversations we’ve been having here.”
“The great thing about Money20/20, here in Europe, and in Asia and the US, is the good division between buyers and sellers. So, you have all these service providers like AirWallex, Amex, Stripe… And then you have the Heads of Payments from companies like Booking.com, Minted and Summit who are coming here with their team to meet with providers. If you think about that from a sales perspective, those meetings are very hard to get outside of this environment. But over a week you get 15 different meetings each day with that would normally take months to arrange. So, the ROI from this week is really powerful just from being able to have these conversations.”
“Paymentology is homegrown out of the UK so it’s important for us to make sure we’re representing the business across Europe. This is the centre of the world for banking innovation. We have customers here from Singapore, Dubai, Saudi Arabia, Ghana and beyond. 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 issue 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.”
“This is my sixth straight Money20/20 and it gets busier every year! It’s great to learn more about the ecosystem at large. You can see developing trends each year, and it’s always a little bit different. You build relationships at Money20/20 that stay with you for the rest of your life. And it’s a perfect opportunity to meet people in the flesh that you might normally only see on screen. You can get a pretty direct read on what they’re working on and it’s exciting to be here making new connections.”
Yuno enables organisations to transform online checkout experiences, allowing customers to pay securely without the need for passwords
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Yuno, a leading global payment orchestrator, announces that Mastercard’s Click to Pay at checkout is now available to all Yuno clients.
Click to Pay helps improve customer experience by ensuring purchases can be made securely and quickly with just a few clicks. It significantly decreases the instances of cart abandonment that plague the e-commerce industry. According to Mastercard research, nearly two-thirds of shoppers still struggle through manually entering their card details. Around 25% of carts are abandoned because checkout is too complex or slow. The average online shopping cart abandonment rate worldwide reached 70.19% in 2023, according to Statista. This resulted in an estimated $260 billion recoverable loss in e-commerce sales annually in the US and EU alone. Plus, fraud rates are seven times higher online than in stores. Criminals exploit exposed card numbers, creating headaches for cardholders and huge losses for merchants and card issuers.
Click to Pay with Yuno and Mastercard
Yuno’s single-click Click to Pay integration, which is enabled in 40 markets across the world, goes beyond just reducing cart abandonment. It also translates to increased sales and conversions for merchants with digital payments. Yuno offfers a secure and familiar digital checkout option trusted by millions of cardholders worldwide. It empowers businesses to boost customer confidence and improve the shopping experience. Yuno’s ability to offer Mastercard Click to Pay access to merchants is especially crucial for businesses expanding into new markets, where brand recognition can be a challenge. With Yuno, merchants can offer a globally recognised payment solution that eliminates friction at checkout almost anywhere in the world.
Yuno
Juan Pablo Ortega, Co-Founder and CEO at Yuno, commented: “At Yuno, we are constantly seeking out the best solutions to streamline payment processes and enhance security, while delivering speed. Making Mastercard’s Click to Pay at checkout feature easy to integrate for all of our customers supports our commitment to removing barriers to global commerce. We’re making sure our customers can focus on running their businesses without any unnecessary headaches.’’
Mastercard
Diego Szteinhendler, Senior Vice-President, Fintechs, Merchants and Digital Platforms, Mastercard Latin America and the Caribbean, added: “Digital consumers expect an intuitive, frictionless and secure experience. To support this demand, we’ve built a robust digital infrastructure with a suite of acceptance and payment services, including Click to Pay. Through partnerships like the one with Yuno these are becoming available to millions of consumers across Latin America and beyond.”
Yuno’s clients, including Viva Aerobus, Bacu, and Habibs, have already begun taking advantage of Mastercard Click to Pay at Checkout via Yuno. It is helping them deliver a secure and convenient user experience for their customers across the globe.
About Yuno
Yuno has emerged as a dominant force in global payment orchestration, with a core mission to empower global commerce by enabling businesses of all sizes to accept and disburse payments anywhere in the world, fostering financial inclusion. It enables businesses to access over 300 payment methods worldwide as well as innovative features including one-click checkout, smart routing, and robust anti-fraud tools via a single unified, easy-to-use interface. Yuno serves a global customer base that includes McDonald’s, inDrive, Rappi and other renowned brands across more than 80 countries.
Mastercard integrates its Multi-Token Network (MTN) for tokenized deposits and tokenized assets with Kinexys Digital Payments (formerly JPM Coin)
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Mastercard’s blockhain Multi-Token Network (MTN) has connected to Kinexys Digital Payments as a payment settlement solution. This will enhance the availability of B2B cross-border payments to business applications on MTN.
Kinexys Digital Payments is a next-generation payment rail powering real-time value transfer. Also, it uses commercial bank money and is offered through Kinexys by J.P. Morgan, the firm’s Blockchain business unit.
Mastercard’s MTN brings together a set of API-enabled, blockchain-based tools and standards for innovative business models under one platform.
Kinexys by JP Morgan and Mastercard are respectively providing solutions designed to improve the efficiency of commercial transactions. Furthermore, these solutions aim to improve the cross-border payment experiences common for such transactions. They will achieve this by providing greater transparency and faster settlement as well as reducing time zone friction.
By integrating Mastercard MTN’s connectivity with Kinexys Digital Payments, mutual customers of MTN and Kinexys will be able to settle B2B transactions through a single API integration.
Kinexys – JP Morgan’s Blockchain business unit
“At Kinexys, we believe our solutions can play a transformative role in the ecosystem for digital global commerce and digital assets, where the value proposition of commercial transaction venues is enhanced by the availability of commercial bank payment rails that can natively integrate with any digital marketplace or platform. We look forward to supporting our clients engaging with the MTN ecosystem and collaborating further with Mastercard in the digital space.”
Naveen Mallela, Co-Head of Kinexys by JP Morgan
MTN – Mastercard’s Multi-Token Network
“For years, both Mastercard and Kinexys by JP Morgan have been committed to innovating for the future of digital asset and commercial infrastructure. By bringing together the power and connectivity of Mastercard’s MTN with Kinexys Digital Payments, we are unlocking greater speed and settlement capabilities for the entire value chain. Moreover, we are excited about this integration and the new use cases it will bring to life, leveraging the strengths and innovations of both organisations.”
Raj Dhamodharan, executive vice president, Blockchain and Digital Assets at Mastercard
New collaboration between Plumery and Payment Components
will enable financial institutions to adopt instant payments without overhauling existing core banking infrastructure
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Plumery, a digital banking experience platform for customer-centric banking, has announced a new partnership with Payment Components, a leader in payments and open banking solutions. By decoupling digital experience and payments processes from legacy systems, institutions can now innovate more flexibly and efficiently. They can streamline operations while maintaining their existing core banking frameworks.
Progress for Payments
By leveraging Plumery’s innovative approach and Payment Components’ expertise, this partnership allows clients to accelerate time-to-market and future-proof operations against regulatory shifts such as the Instant Payments Regulation (IPR). Financial institutions can offload the burden of implementing new digital channels and instruments, such as real-time payments, without altering their core systems.
The IPR aims to make instant payments fully accessible to consumers and businesses across the EU. Currently only a minority of service providers support instant payments. While such regulatory changes usually impact core banking infrastructure, the Plumery and Payment Components partnership ensures these systems remain unaffected.
“This partnership is crucial for institutions needing to rapidly modernise without overhauling their entire infrastructure. Together, we offer a powerful, flexible solution that enables our clients to embrace innovation while staying ahead of regulatory changes like the IPR. Adding Payments Components to our partner ecosystem solidifies our commitment to creating cutting edge solutions that embrace digitisation.”
Ben Goldin, Founder and CEO of Plumery
This global partnership offers a streamlined path to modernisation, enabling financial institutions to stay compliant, competitive and responsive to ongoing market shifts with solutions ready to support firms as they navigate the evolving financial landscape.
“Our collaboration with Plumery will empower financial institutions to seamlessly adopt modern payment technologies, addressing the complexities of regulatory changes, all while minimising disruptions to existing systems. We wanted to work with Plumery because both our company’s share a similar approach, work ethic and most importantly because of the compatibility of our products.”
Sotirios Nossis, Founder and CEO of Payment Components
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).
Payment Components
At Payment Components, we’re reshaping the fintech landscape on a global scale. Today, our solutions are essential for more than 65 banks and financial institutions across 25 countries. We provide componentized solutions in a range of domains, including AI banking, open banking, account-to-account payments, and financial messaging technology. We achieve this through continuous innovation, building software components that help financial institutions become digital champions and deliver richer payment services to their clients. Our name reflects our belief: complicated processes in the financial industry will be replaced by AI-assisted dedicated components. We stand for simplicity, speed, and constant innovation
Money20/20, operates the world’s leading fintech events in Europe, Asia and USA and is “the place where money does business”….
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Money20/20, operates the world’s leading fintech events in Europe, Asia and USA and is “the place where money does business”. Money20/20 USA has unveiled seven startups poised to transform the financial sector. The selected startups are Brightwave, Casap, Eisen, Footprint, NALA, Ntropy, and Zumma. They were revealed during the Startup Media Session on October 29th in Las Vegas. The Startup Media Session was designed as part of the event’s goal to support startups at the intersection of finance and business.
“Money20/20 USA is focused on what drives the conversations most relevant to the FinTech industry. From economic and regulatory uncertainty to the future of payments and the impact AI will have on money moving forward. We are proud to highlight the work these startups are doing to move this industry forward.”
Scarlett Sieber, Chief Strategy and Growth Officer at Money20/20
Brightwave
Brightwave is the leading AI platform for financial services. It delivers accurate and insightful financial research enabling finance professionals to make better decisions faster. Its purpose-built AI systems synthesize insights across thousands of pages of primary sources. It can automate the most tedious parts of investing workflows and help users spot opportunities others have missed.
“Being named one of the Top 7 Startups at Money20/20 is a strong acknowledgment of the strides we’ve made in transforming how investment research is done. We’re also excited to announce our $15 million Series A funding at the world’s premier show for financial innovation. At Brightwave, we’re tackling one of the hardest problems in finance. We’re making sense of vast amounts of data to uncover deeper insights and relationships that others miss,” said Mike Conover, Founder and CEO at Brightwave.
Casap
Casap is an AI-powered disputes automation and fraud prevention platform. With built-in regulatory expertise and network integrations, Casap’s intelligent automation identifies fraudulent claims early. It delivers fast, frictionless dispute and chargeback resolution at a fraction of today’s cost.
“Money20/20 was the first conference I attended after starting Casap last year and it played a pivotal role in validating our vision. The connections, conversations, and insights I gained were invaluable. Exactly a year later, we’re back and launching out of stealth with live customers. We’re addressing some of the most pressing challenges in scaling payments. We’re starting with automating chargebacks and combating first-party fraud. We’re deeply grateful to Money20/20 for this opportunity to reach so many in the industry and help drive meaningful change in how payments are operated at scale,” said Saisi Peter, Co-founder of Casap.
Eisen
Eisen is the first escheatment automation solution that proactively manages the offboarding of dormant accounts, stale checks, wind-downs, and more. Financial institutions rely on Eisen to simplify the complex landscape of regulatory outreach, disbursement, and escheatment requirements. It ensures compliance while reducing operational risk.
“Money20/20 has been a cornerstone for Eisen since 2021, where the very idea for our company first sparked in the halls of the Venetian. It all started with conversations about the hardest challenges in FinTech. Each year, it’s helped us refine our vision and better serve our customers. For us, Money20/20 isn’t just about growth — it’s where Eisen began,” said Allen Osgood, CEO of Eisen.
Footprint
Footprint is a Series A identity company that has raised $20M from funds such as QED and Index Ventures. The company provides a single SDK that automates onboarding – KYC/KYB, fraud, security, and authentication – into an easy-to-integrate solution. Footprint works with leading companies across the Banking, Auto, and Real Estate sectors. Its technology portabalises identity, creating a centralised database of de-duplicated authentic identities.
“Money20/20 is at the vanguard of innovation. We’ve tried to be different at Footprint. Whether that be through our recent fraud indemnification program or our approach to labeling good actors. Some may think these are crazy ideas. But it is great to see Money20/20 continue to be where crazy can get a spotlight. That is how I would like to think true innovation happens,” said Eli Wachs, Co-founder and CEO of Footprint.
NALA
NALA is a global cross-border payments fintech company based in the US doing cross-border payments to emerging markets like Africa and Asia. It has two products, a consumer FinTech product enabling migrants to send money home and an infrastructure business called Rafiki, building payment rails for Africa. NALA recently became profitable and raised a $40m series A after achieving 10x revenue growth in 12 months.
“At NALA, we are on a mission to build payments for the next billion. Emerging markets are often overlooked but shouldn’t be underestimated as these regions have seen the fastest economic growth in the world. We have big ambitions for what we would like to achieve and have exciting plans in the pipeline in the coming years,“ said Benjamin Fernandes, Founder and CEO of NALA.
Ntropy
Ntropy is on a mission to organise the world’s financial data. 80% of the world’s financial data is unstructured and locked in transactions, documents, PDFs, and images. This means it is under-leveraged and cannot be used by models at scale. Ntropy was founded to solve this problem for any type of financial data, in any language, any geography, powering humans and more recently agents and agentic workflows in finance.
“Ntropy is processing hundreds of millions of transactions and documents weekly with over 98% accuracy, in under 100ms, 1000x faster, and cheaper than any other provider on the market. You can access Ntropy via our API-s directly, and more recently via NVIDIA NIM-s. This collaboration enables flexibility in deployment and allows our customers to scale immediately. This year’s Money20/20 has been about demonstrating the real value of GenAI and we have been very fortunate to have this exposure together with our partners at NVIDIA, Oracle, and AWS, who are accelerating Ntropy’s mission,” said Naré Vardanyan, Co-founder and CEO of Ntropy.
Zumma
Zumma is a financial copilot that automates and simplifies financial processes for Latin American businesses by leveraging existing tools they already use such as WhatsApp to save them time and money. The company is starting with automating expense management and expense invoicing processes, saving their customers more than $4,000 per employee per year in tax deductions.
“Being part of Money20/20’s Startup Media Session helps us spread the word about our product to the fintech community. The Money20/20 team has been key in our growth by connecting us to key players in the industry,” said Daniela Lascurain, COO and Co-founder of Zumma.
Launched by industry insiders in 2012, Money20/20 is the heartbeat of the global fintech ecosystem. Moreover, some of the most innovative, fast-moving ideas and companies have found their feet (and funding) on its show floor. From J.P. Morgan, Stripe, and Airwallex to HSBC, Deutsche Bank, and Checkout.com, Money20/20 is the place where money does business.
Gunnar Már Gunnarsson, Co-founder & CTO of PAYSTRAX on the potential for tokenisation to improve digital payments
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The forward to the Bank of England’s most recent report on innovation in payments begins with the words:
“The concept at the heart of money is trust – a trust which is hard won but easily lost.”
In today’s financial climate, where digital transactions have become the norm, trust and security are more crucial than ever. However, 84% of consumers don’t completely trust online payments, and many drop out before they complete a purchase online due to safety concerns and a lack of payment options.
Tokenisation presents a way forward, offering an increased level of trust and efficiency that could tackle the concerns of consumers. And offer business increased security in the payments process. By replacing sensitive payment card information with unique identifiers (tokens), this technology provides a safe way to handle payment data from seller to consumer.
As the future of payments continues to evolve, safety, simplicity and global alignment will be essential. Tokenisation stands at the forefront of this with the potential to not only reduce fraud but also improve the customer experience.
An extra safeguard against cybercrime with tokenisation
The issue many businesses and customers face is that their data remains exposed during transactions. This increases the risk of fraud and company liability issues in the event of data breaches. Tokenisation technology replaces sensitive data with a unique, randomly generated string of symbols that cannot be easily interpreted. This provides an extra safeguard against cybercrime. This added level of security benefits both consumers and businesses. It can reduce vulnerabilities in everything from online purchases to mobile payments.
For merchants, this is particularly beneficial. By keeping sensitive information, such as customers’ card details, outside their own systems, they minimise the risk of security breaches. Tokenisation also helps businesses meet compliance standards, such as PCI-DSS (Payment Card Industry Data Security Standard). With no need to store or transmit sensitive data, companies can lower their security management responsibilities and reduce the overall costs of compliance. Tokenisation facilitates this easier compliance by deferring regulatory requirements across regions. Businesses can then rely on tokenised data instead of managing the security of the original PAN (Primary Account Number).
Enhancing the payment experience with tokenisation
Friction during transactions has long been an issue in finance, costing the industry $2 billion dollars a year in lost payments. Consumers increasingly expect faster and more seamless payments in all aspects of their life, from in store shopping to online purchases.
With tokenisation technology, the payment process becomes faster. Sensitive information no longer needs to be re-entered or verified externally during each transaction. This reduction in data exposure reduces the risk of fraud while maintaining the rapid pace of real-time payments. Overall this creates a secure and safe payment process for businesses while not interrupting the real-time user experience.
Frictionless payments aren’t the only benefit of tokenisation. With customers being more likely to complete purchases when a tokenisation system is in play, with Visa reporting that authorisation rates improve by 2.1% using the technology. This is mostly due to the dynamic card-on-file information that tokenisation provides. It reduces payment failures and ensures a smoother purchase process, with failed payments no longer an issue.
A final example for how tokenisation enhances payment experience both user and provider side can be found in B2B Cross-Border payments. The market is projected to grow significantly, with estimates indicating a 43% increase to reach $56.1 trillion by 2030. The risk of fraud grows with this, alongside increasingly in depth and complex international laws and national regulations, companies need both security, and to be customer facing in their plans. Technologies that secure payments and provide seamless transactions, like tokenisation, are pivotal in supporting this growth by reducing risks and improving efficiency.
The future of payments
As alternative payment methods and RTP networks continue to rise, tokenisation will be crucial in creating a global payments ecosystem that is both secure and frictionless. Visa has issued over 9.5 billion tokens globally, with Mastercard reporting over 50% year-over-year growth in tokenised transactions. This rapid adoption highlights the importance of tokenisation in building secure, efficient payment networks.
By reducing fraud, simplifying security management, and improving the overall customer experience, tokenisation is set to play a leading role in shaping the future of payments. Especially as digital and cross-border transactions become increasingly important.
It’s more than just a security measure. It’s a critical technology that enhances the entire payment ecosystem, making transactions faster, safer, and more efficient for all parties involved.
Gunnar Már Gunnarsson, Co-founder & CTO of PAYSTRAX
Berkley Egenes, Chief Marketing & Growth Officer at Xsolla, on the legislation changing financial services
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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.
FinTech Strategy spoke with Ryan O’Holleran, Head of Sales, Enterprise, EMEA at Airwallex, to learn about the global payments and financial infrastructure provider
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Airwallex, a financial infrastructure provider, offers a range of services. Including multicurrency accounts, payment acceptance card issuing, foreign exchange (FX) payouts, treasury and expense management. In addition to supporting small and medium-sized businesses, the company also provides APIs and a software layer for direct access to enterprise businesses. As well as an enterprise platform product called Scale. Airwallex has found success working across various industries. It works with the likes of Bird (formerly MessageBird) to handle global accounts and backend treasury, and partners with Qantas to offer financial tools for their business partners.
The company also enables faster and more efficient payments through its patchwork network of financial partnerships and licenses. Airwallex has experienced significant growth even during economic downturns. As of August this year, Airwallex globally processed transactions worth more than $100 billion annually and saw a 73 percent year-on-year increase. It is now focused on embedded finance solutions and global expansion.
At Money20/20 Europe, FinTech Strategy spoke with Airwallex’s Head of Sales, Enterprise, EMEA, Ryan O’Holleran, to find out more…
Tell us about the genesis of Airwallex?
“Our co-founder, Jack Zhang, started a coffee company in Melbourne, Australia, which is still around today, with a few friends from university. And while they were building out this coffee shop, they were buying beans from abroad, along with supplies and packaging. They found how hard it was to actually pay for services, send funds abroad and deal with multiple currencies. So, they saw an opportunity to help streamline the financial infrastructure for small businesses. That’s when Jack and his co-founders put Airwallex together and built out an initial SME’s use case to allow multicurrency accounts and FX payouts. Since then, the business has really expanded…
Today, Airwallex provides a set of APIs – we’re really providing financial infrastructure to move money globally. On those APIs, we also have a layer of software that we can offer direct access to enterprise businesses. The third part of this, which is kind of the new product over the last three years, is our enterprise platform product called Scale. Scale allows you to embed those financial services into a product as well as a platform or marketplace. So, you kind of think about it as a direct treasury product, APIs and a platform product.”
Tell us about your role at Airwallex?
“I’m originally from San Francisco, grew up in the Bay area, started in tech, did a couple of startups, and I actually got into payments via Stripe. I joined Stripe back when there were about 200 employees in San Francisco. Spent some time in Chicago and then moved to the UK initially with Stripe. I was there for about five and a half years, as we went from 200 staff to 6,000. At that point, I wanted to get back to something a little bit different. To help more cross-functioning with product and help scale businesses. The opportunity with Airwallex came along where I saw the company addressing many things my customers at Stripe were asking for.
So, the FX piece, mass payouts, treasury, all complimented what Stripe is doing with acquiring. Since I joined the team three years ago, we’ve been scaling across EMEA. We now have offices in London, Amsterdam, Vilnius and just last year launched our office in Tel Aviv to cover Israel. And we have teams in the Americas and APAC where Airwallex was founded.”
What are some of the key challenges financial institutions are facing that you can help them with? What problems are companies asking you to solve? In doing so, what are the challenges for Airwallex?
“We work in different areas. This is where I think we have differentiated the business and also where I see the industry moving. If you look back over the last five, 10 years, there was this approach where you had Stripe and all the major players coming in and saying, we can do things and we can do it really well and you only need to use us, you don’t need to use a patchwork of providers. I think that is starting to shift. You see this with orchestration layers like Primer or Gravy, allowing people to be agnostic on PSPs. And then you’re seeing people think about redundancy. So, the heads of payments we’re talking to this week are looking at two or three providers because they need redundancy or want to use the best provider in each region. They don’t want to be siloed.
Airwallex can be used in a segmented approach. So, if you just need us for payouts, you can do that. If you just need us for FX, you can do that. If you just need us for acquiring, you can do that. Or we could do that globally and you can adjust as you see fit. So, the flexibility of Airwallex I think is one of our superpowers.”
Tell us about some of the successful partnerships Airwallex has been involved in…
“The interesting thing about Airwallex is that since we’re providing financial infrastructure, there’s a huge variety of customers we work with. One of the local ones is Bird (a cloud communications platform that connects enterprises to their global customers). Using our software product they are creating global accounts, handling backend treasury, payroll, suppliers and more. We’ve also worked with Qantas to build out an SMB solution embedding all of the Airwallex financial services and they call it Qantas Business Money.
Elsewhere, Brex in the US were looking for a provider to help with their payout rails. One of the things Airwallex has done is rebuilt the Swift network via local rails. So, we have a patchwork network of financial partnerships and licences where if you are located, let’s say in the US, but you want to pay somebody out in the UK, you get access to faster payment rails having never set foot in the UK or separate rails via Europe having never set foot in the EU. So, you get this mass payoff solution of local rails, which is faster, cheaper, and more efficient than using something like Swift.”
What trends are you seeing across the FinTech landscape? What opportunities do you see for Airwallex?
“I think where we’re seeing a lot of opportunities, in EMEA specifically, in B2B, vertical, SaaS, travel and marketplaces, is this embedded finance solution. It was kind of a buzzword a few years ago and now we’re actually starting to see it develop. I view it as actually embedding all of these financial services – whether it be a wallet, issued cards, or local multi-currency accounts – and being able to monetize that. So, we’re seeing this with a lot of our customers actually wanting to white label our products, embed that and bring payments on platform.”
And what’s next for Airwallex? What future launches and initiatives are you particularly excited about?
“The growth of Airwallex, specifically on a global scale, over the last few years is one thing I’m very proud of because it’s happened during one of the worst economic downturns we’ve experienced. FinTech was almost retracting in terms of budgets and investments. You’re starting to see the tide turn, but we were able to grow over 100 percent year on year, through some of the toughest times for business. And now we’re really starting to see that pick up because the businesses, who actually decided this is going to be a building year for us now, they’re going live, they’re accelerating, they’re growing.
And so we’re seeing the ROI of that investment. It’s a testament to the global financial infrastructure we’ve built. Meanwhile, Airwallex became cash flow positive in 2023. It now processes more than $100 billion in annualised transaction volume. The company now employs over 1,500 people worldwide working across 23 international offices.”
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 Airwallex?
“The great thing about Money20/20, here in Europe, and in Asia and the US, is the good division between buyers and sellers. So, you have all these service providers like Airwallex, Amex, etc… And then you have the Heads of Payments from companies like Booking.com, Vinted and SumUp who are coming here with their teams to meet with providers. If you think about that from a sales perspective, those meetings are very hard to get outside of this environment. But over a week you get 15 different meetings each day that would normally take months to arrange. So, the ROI from this week is really powerful just from being able to have these conversations. Three years ago, we first came to suss out the event and as we’ve grown the response has grown. People are being proactive and keen to engage with us which is exciting to see.”
Finch Capital report shows UK FinTech sector dominant across Europe
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The latest annual State of European Fintech report by FinTech growth capital firm Finch Capital has been published. It shows the UK dominating Europe with 65% of deals in H1 2024. The UK is maintaining its dominance amid declining funding across the continent.
Highlights include:
Funding in UK FinTech increased 3% year-over-year to £2.3bn, highlighted by Monzo’s £500m deal.
UK sectors such as insurance set to gain from AI adoption, with 80% of actuaries using it for improved risk analysis.
FinTech sector beginning to see jobs market recover in Europe, up 10% YoY.
“The next wave of fintechs is shifting from unicorns to ‘half-a-corns,’ with £500m valuations becoming the new benchmark” Aman Ghei, Partner at Finch Capital
The UK has increased its dominant role in Europe’s FinTech sector. It now accounts for two thirds of the total volume of deals reached across the continent in the first half of this year. According to a new annual report analysing the sector, with investment and M&A anticipated to grow this year and into 2025.
The annual State of European Fintech 2024 report found the UK is strengthening its position at the forefront of the European FinTech sector, despite an overall decline in funding across the continent.
The report highlights the ongoing challenges faced by the sector. It notes that higher interest rates, a focus on cost efficiency and increased scrutiny on the sustainability of business models have driven the UK to account for around 65% of fintech deals in Europe.
Funding in the UK FinTech sector rose 3% YoY to £2.2bn compared with £1.9bn in H1 of last year. The largest deal done in Europe in H1 was UK’s Monzo, which raised £500m in equity.
The European FinTech Picture
Overall, the 9th edition of the annual report, authored and compiled by leading fintech growth capital firm Finch Capital, found that although it remains a challenging environment for European FinTechs, there are clear signs of brighter prospects ahead.
While the UK leads the way, the Netherlands showed resilience, with investment volumes holding steady. Meanwhile, Ireland, Germany, and France all saw major government-backed initiatives aimed at fostering growth through 2025. Signalling strong long-term commitment to the local technology ecosystems.
Despite a notable contraction in funding across Europe, some key sub-sectors helped by higher interest levels, such as challenger banks like Revolut and Monzo, are beginning to show profitable growth.
Higher Rates and Boosted Profits
The report revealed that total capital invested in European fintechs in the first half of 2024 fell by 25% YoY, from £3.2 billion in H1 2023 to £2.4 billion in H1 2024.
However, profitability in sub-sectors like banking is driving larger funding rounds. The top challenger banks are generating close to £600m in profit in 2024 compared to a £125m loss in 2023.
As these banks emerge as success stories, the UK has become a hub for profitable growth, while other European nations work to adapt, the report found.
Mid-Market Fintech M&A Thrives
The report also highlighted the increasing activity in the mid-market M&A space across Europe. Particularly in the UK, which is benefiting from consolidation in the sector.
Funding rounds for fintech unicorns have slowed, the findings show, with investors prioritising companies with solid financial fundamentals and avoiding overly ambitious valuations based on hyper growth and unproven profitability.
European exits under £500 million now account for 32% of global M&A activity, although the market remains 2-3x smaller than the US for larger deals, according to the report.
AI Creating Efficiency
The report also found that, as a leader in fintech innovation, the UK is expected to benefit significantly from the adoption of AI technologies in the coming years, particularly in the insurance sector.
According to research, 4 out of 5 actuaries are now using AI to improve risk analysis and pricing models and 65% of executives say they will invest more than $10 million in AI in the next 3 years, making the industry more efficient.
Commenting on the findings, Aman Ghei, Partner at Finch Capital, said:
“The challenges that fintech faced in 2023 were necessary for the sector to mature and become more sustainable. While funding may be down overall, and unicorn chasing has slowed, there is plenty of opportunity for companies that are capital efficient and have a clear path to profit. With AI transforming the industry and significant dry powder still available, the next 12-18 months will mark a turning point for fintech in Europe. The next wave of fintech success stories will likely be built on sound financials rather than rapid revenue growth alone.”
FinTech Strategy spoke with Zak Lambert, Product Lead for Plaid in Europe, to find out more about the world-leading data network and payments platform
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Plaid offers the world’s largest open finance platform. Plaid specialises in bank connectivity and provides a single API for customers to integrate with banks around the world. They have had innovative success stories working with companies like Western Union and MoneyBox. Plaid see opportunities around current trends such as account-to-account payments, variable recurring payments, and cash flow underwriting for businesses and consumers.
At Money20/20 Europe, FinTech Strategy spoke with Plaid’s Product Lead for Europe, Zak Lambert, to learn more…
Tell us about Plaid…
“I work in product management for Plaid in Europe. We’re the world’s largest open finance platform operating across 20 markets in Europe and North America. Back in 2019 when we first launched in Europe our bread and butter was bank connectivity. Integrating with over 10,000 banks through a single API. We still provide that connectivity in one API for our customers. Millions of users go through that journey every day for a number of different use cases.
“I was part of the team that started Plaid in New York and opened the office there. I did a variety of things from helping customers integrate, building new products, working with sales teams, and anything else that would help us grow, About a year after that, I moved over to London to be the first person on the ground there. Fast forward five years and I’m delighted to be the head of product in Europe. I’ve been with the company for about five and a half years. Overall, it’s just been an exciting journey from a hundred people to more than a thousand now.”
Talk about some of the successful integrations Plaid is involved in…
“We recently announced that we’re working with Western Union across Europe to fund transfers, whether that’s someone depositing in the UK and Germany, Italy or Spain. Plaid is powering account to account payments for Western Union across their various use cases. Particularly when you look at the growing trend around account-to-account payments and pay by bank, we’re thrilled to be working with brands of that caliber. Since launch we’ve seen hockey stick growth for their customer adoption of pay by bank. This shows trust and reliability of the open banking ecosystem which we’re excited to be a part of. We are also delighted to be supporting MoneyBox, one of the largest fintechs in the UK. They handle millions of transactions to fund and create ISAs. Moneybox have launched VRP (Variable Recurring Payments) through Plaid in order to optimise their customer flows and have more reliability in customer recurring payments. With our new flow, users can go through the journey once, set up their consent, and then money can move in the background. It’s like a card on file with a bank account. We see this as a significant trend in the coming years in the UK specifically, and then across Europe as that product set develops.”
What trends are you seeing across the FinTech landscape? What opportunities do you see for Plaid?
The UK has always been an early adopter of open banking but we’re now seeing a surge in demand from mainland Europe. We are currently live in 18 markets in Europe and continue to focus on our reliability and depth in each market to ensure we can meet that demand.
This year, we’ve learned more about how our customers want to use VRP (Variable Recurring Payments). In June, we launched Moneybox’s VRP proposition to enable them to relaunch their Payday Boost offering which was previously restricted by direct debit limitations. Every week we’re having more and more conversations on VRP use cases.
We’re also excited about how open banking and fintech more broadly can help make financial access more inclusive. For example, open banking can help the underserved get more access to credit by using real-time data to inform underwriting decisions. At Plaid, we’ve built specific products to do this such as the Financial Insights Report that companies such as Capital on Tap are already using to inform their decisioning programmes.
And what’s next for Plaid? What future launches and initiatives are you particularly excited about?
“There are three areas I would highlight… First, pay by bank globally for Plaid. You look at Western Union, they’re probably not the first company to adopt something, but the second they adopt something it probably is about to hit mainstream. That’s significant volume. They’re one of the world’s oldest companies. They’ve been fantastic to work with. So, as that trust and familiarity start coming into play, people that aren’t Western Union come and say, okay, we’ve seen this experience. It was really good. We want it now. We’re working with our teams across the globe to bring that to life for North America and Europe in the simplest way possible. It’s really exciting.
“Second, we have the significant opportunity to bring lending into the 21st century. Particularly because of the third thing, which is the Plaid network. We’ve touched hundreds of millions of consumers. We’ve spent a long time building products to make payments easy and to make underwriting easy. And now we’re in the third phase… We have all of these users, this large network, so how can we make this even simpler for people? And just giving smoother experiences when the user is actually in the workflow. So, boosting conversion, delivering network style experiences in the same way that other network businesses do.”
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 Plaid?
“This is my sixth straight Money20/20 and it gets busier every year! It’s great to learn more about the ecosystem at large. You can see developing trends each year, and it’s always a little bit different. You build relationships at Money20/20 that stay with you for the rest of your life. And it’s a perfect opportunity to meet people in the flesh that you might normally only see on screen. You can get a pretty direct read on what they’re working on and it’s exciting to be here making new connections.”
Tetyana Golovata, Head of Regulatory Compliance at IFX Payments, on builidng compliance into business culture
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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.
Pat Bermingham, CEO of B2B digital payment specialist Adflex, asks what impact will Artificial Intelligence really have on B2B payments?
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Visit any social media newsfeed and countless posts will tell you AI means “nothing will ever be the same again”. Or even that “you’re doing AI wrong”. The volume of hyperbolic opinions being pushed makes it almost impossible for businesses to decipher between hype and reality.
This is an issue the European Union’s ‘AI Act’ (the Act), which came into force on 1 August 2024, aims to address. The Act is the world’s first regulation on artificial intelligence. It sets out how to govern the deployment and use of AI systems. The Act recognises the transformative potential AI can have for financial services, while also acknowledging its limitations and risks.
Within the debate about AI in financial services, B2B payments are an area where AI has huge potential to accelerate digital innovation. Let’s go beyond the hype to provide a true perspective on what AI really means for B2B payments specifically.
Understanding what AI is, and what it isn’t
AI is a system or systems that can perform tasks that normally require human intelligence. It incorporates machine learning (ML). ML has been used by developers for years to give computers the ability to learn without being explicitly programmed. In other words, the system can look at data and analyse it to refine functions and outcomes.
A newer part of this is ‘deep learning’, which leverages multi-layered neural networks. This simulates the complex decision-making power of our brains. The deep learning benefits outlined later in this article are based on Large Language Models (LLMs). LLMs are pre-trained on representative data (such as payment/transaction/tender data). Deep learning AI does not just look at and learn patterns of behaviour from the data. It is becoming capable of making informed decisions based on this data.
Before we explore what this means for B2B payments, let’s make one caveat clear: human supervision is still needed to ensure the smooth running of operations. AI is a supporting tool, not a single answer to every question. The technology is still maturing. You cannot hand over the keys to your B2B payments process quite yet. Manual processes will retain their place in B2B payments. AI tools will help you learn, adapt and improve more quickly and at scale.
The AI Act – what you need to know
The Act attempts to categorise different AI systems based on potential impact and risk. The two key risk categories include:
Unacceptable risk – AI systems deemed a threat to people, which will be banned. This includes systems involved in cognitive behavioural manipulation, social scoring, and real-time biometric identification.
High risk – AI systems that negatively affect safety or fundamental rights. High-risk AI systems will undergo rigorous assessment and must adhere to stringent regulatory standards before being put on the market. These high risk systems will be divided into two further categories:
AI systems that are used in products falling under the EU’s product safety legislation, including toys, aviation, cars, medical devices and lifts.
AI systems falling into specific areas that will have to be registered in an EU database.
The most widely used form of AI currently, ‘generative AI’ (think ChatGPT, Copilot and Gemini), won’t be classified as high-risk. However, it will have to comply with transparency requirements and EU copyright law.
High-impact general-purpose AI models that might pose systemic risk, such as GPT-4o, will have to undergo thorough evaluations. Any serious incidents would have to be reported to the European Commission.
The Act aims to become fully applicable by May 2026. Following consultations, amendments and the creation of ‘oversight agencies’ in each EU member state. Though, as early as November 2024, the EU will start banning ‘unacceptable risk’ AI systems. And by February 2025 the ‘codes of practice’ will be applied.
So, with the Act in mind, how can AI be used in a risk-free manner to optimise B2B payments?
Today’s B2B payment platforms are not one-size-fits-all solutions; instead, they provide a toolkit for businesses to customise their payment interactions.
AI-based LLMs and ML can be used by payment providers to rapidly understand and interpret the extensive data they have access to (such as invoices or receipts). By doing this, we gain insights into trends, buyer behaviour, risk analysis and anomaly detection. Without AI, this is a manual, time consuming task.
One tangible benefit of this data analysis for businesses comes from combining payment data with knowledge of a wide range of vendors’ skills, products and/or services. AI could then, for example, identify when an existing supplier is able to supply something currently being sourced elsewhere. By using one supplier for both products/services, the business saves through economies of scale.
Another benefit of data analysis comes from payment technology experts. Ours have been training one service to extract data from a purchase order or invoice, to flow level 3 data, which is tax evident in some territories. This automatically provides the buyer with more details of the transaction, including relevant tax information, invoice number, cost centre, and a breakdown of the products or service supplied. This makes it easy and straightforward to manage tax reporting and remittance, purchase control and reconciliation.
AI-driven data analysis isn’t just a time and money-saver, however. It also adds new value by enabling providers to use the data to create hyper-personalised payment experiences for each buyer or supplier. For example, AI and ML tools could look out for buying and selling opportunities, and perform a ‘matchmaking supplier enablement service’ that recommends the best payment methods – and the best rates – for different accounts or transactions. The more personalised a payment experience is, the happier the buyer and more likely they are to (re)purchase.
Efficient data flows mean stronger cash flows
Another practical application of AI is to help optimise cash management for buyers. This is done by using the data to determine who is strategically important and when to pay them. It could even recommend grouping certain invoices together for the same supplier, consolidating them into one payment per supplier, reducing interchange fees and driving down the cost of card acceptance.
AI can also perform predictive analysis for cash flow management, rapidly analysing historical payment data to predict cash flow trends, allowing businesses to anticipate and address potential challenges proactively. This is particularly valuable in the current economic climate where cashflow is utterly vital.
By extracting value-added, tax evident data from a purchase order or invoice, AI can rapidly analyse invoices and receipts to enable efficient, accurate automation of the VAT reclaims process. Imagine: the time comes for your finance team to reclaim VAT on recent invoices and receipts, but they don’t have to manually go through every receipt or invoices and categorise them into a reclaim pile or not reclaimable. It sounds like a dream but it will be the reality for business everywhere: AI does the heavy lifting and humans verify it, saving significant time and resources.
The third significant benefit of AI is automated invoice reconciliation. By identifying key information from an invoice and recognising regular payees, AI can streamline and automate the review process. This has the potential to significantly speed up transactions and enable more efficient payment orchestration.
Binding together all supporting paperwork, such as shipping, customs, routes, and JIT (just-in-time) requirements can also be done by AI, and it’s likely to be less prone to human error.
This provides an amazing opportunity to make B2B payments faster, reduce costs and increase efficiency. Businesses know this: 44% of mid-sized firms anticipate cost savings and enhanced cash flow as a direct result of implementing further automation within the next three years. According to American Express, 48% of mid-sized firms expect to see payment processes accelerate, with more reliable payments and a broader range of payment options emerging.
When. Not if.
There are significant opportunities to leverage AI in B2B payment processes, making it do the heavy lifting. It is, however, essential to view these opportunities with a balanced understanding of the limitations of AI.
While all the opportunities for AI in B2B payments outlined here are based on relatively low-risk AI systems, human oversight of these systems is still essential. However, with all the freed-up time and resource achieved through the implementation of AI, this issue can be avoided.
AI in B2B payments is not an if, but a when. The question is, when will you make the jump, hand in hand with technology, rather than fearing it or passing full control over to it.
In order to grow, it is essential for users to see the tangible benefits. For example, by enhancing efficiencies in account payable (AP), businesses can reallocate time and resource previously spent in AP to other areas. Early adopters are starting to test the water but only time will tell how much of an impact AI will make.
Most businesses will likely wait for the early adopters to fail, learn and progress. If something goes wrong in B2B payments, it can have a huge impact on individuals, businesses and economises. Only when the risk is clearly defined and manageable will AI truly become the gamechanger in B2B payments that all the hype claims.
“Adflexhas been at the heart of the B2B fintech revolution from the beginning. We are known for fostering innovation and helping companies harness the power of digital payments. Our technology and expertise bring together buyers and suppliers to make transactions fast, cost-effective and straightforward to manage. We take the pain out of the supply chain by delivering seamless and secure payment integration that adds value to both buyers and merchants.”
As digital payments continue their rapid ascent, understanding the accompanying cybersecurity challenges has never been more critical. Furthernore, with Statista…
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As digital payments continue their rapid ascent, understanding the accompanying cybersecurity challenges has never been more critical. Furthernore, with Statista forecasting a robust 9.52 percent annual growth rate for digital payments from 2024 to 2028, the urgency to address these security concerns intensifies.
While this growth brings unparalleled convenience, it also introduces new security vulnerabilities that must be addressed. Cybersecurity is fundamental in safeguarding confidential data against hacking, fraud, and data breaches. Implementing effective cybersecurity measures can also maintain trust between businesses and clients while preventing financial loss. To optimise cybersecurity, identifying the current threats to digital payment systems is a must for businesses and consumers.
Current Cybersecurity Threats
Digital banks face various threats that continually evolve as technology advances. By addressing these challenges head-on, banks can protect their users and continue the growth of digital payment.
Many types of cyber threats can disrupt digital payment systems:
Phishing attacks: These attacks use deceptive emails, phone calls, or texts to trick victims into revealing personal information, such as login credentials and financial details. The scam can lead to other types of cyber threats.
Malware: Malicious software that infiltrates systems to steal data, monitor activities, or lock accounts. Various forms of malwares have different functions, such as Trojans, Worms, and Spyware.
Man-in-the-Middle (MitM) Attacks: intercept communications between the user and the bank allowing attackers to steal sensitive information or funds.
Data breaches: Unauthorised access to digital bank databases exposes vast amounts of sensitive information, including personal and financial data.
Ransomware: It is an attack that employs malware to infiltrate computer systems to steal data, monitor activities, or lock accounts. The attackers then demand payment and keep disrupting the devices/websites until they are paid.
Credential stuffing: Attackers use stolen usernames and password combinations from other breaches to gain unauthorised access to accounts.
DDoS and DoS attacks: Distributed Denial-of-Service (DDoS) attacks overwhelm the bank’s servers, making online services unavailable to customers. Unlike the Denial-of-Service (DoS) attack where a single source is used to flood the target, DDoS use multiple sources of compromised devices (botnets).
Insider threats: Employees or contractors with access to sensitive information may intentionally or unintentionally cause data breaches or other security incidents.
Social engineering: Manipulating individuals into divulging confidential information through psychological manipulation.
Zero-Day Exploits: Attacks that exploit previously unknown vulnerabilities in software or hardware before patches are available.
Cybersecurity Measures
Encrypting data is essential to convert the personal information into a secure format. This encrypted data can only be accessed with the correct key or description. This ensures that the data remains secure and unreadable after interception.
Multi-Factor Authentication (MFA) adds a layer of security by requiring some form of verification before granting access to the platform. Tokenisation replaces critical payment data with a unique or random token that cannot be hacked once intercepted.
Biometric verification, such as fingerprint and facial recognition, provides additional security by utilising unique physical characteristics. These include the shape of the face and the outline of a fingerprint, both of which are difficult to replicate.
Financial institutions have also innovated to improve cybersecurity by implementing artificial intelligence (AI). For example, JPMorgan Chase has implemented an AI-driven fraud detection system. This application is used for monitoring transaction activity in real-time. It can also detect potential threats or fraudulent transactions using the data analytics tool.
Regulatory Requirements
Financial companies are obligated to meet regulatory compliance. It is important to build customers’ trust and avoid legal or financial penalties. For global financial institutions, regulatory issues might be more complex as each country has its version of rules. As cyber threats evolve, regulators continuously update and enforce these requirements to address new challenges in digital payment systems.
For instance, UK regulations have set strict rules to ensure the security of digital payments. These include data protection measures, and companies that do not prioritise cybersecurity will face substantial fines. Similar regulations have been implemented across European Union (EU) Member States, compelling financial institutions to enhance cybersecurity to create a safe digital payments environment for consumers.
FinTech Strategy met with Stiven Muccioli, Founder & CEO at BKN301, to discuss digital payment services connecting North Africa, the…
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FinTech Strategy met with Stiven Muccioli, Founder & CEO at BKN301, to discuss digital payment services connecting North Africa, the Middle East, and Europe.
BKN301 Group is a London based fintech provider that offers Banking-as-a-Service, connecting North Africa, the Middle East, and Europe. The company aims to address the financial inclusion gap in these regions. It provides digital payment and banking platforms to unbanked populations. BKN301 has successfully partnered with fintechs in Egypt and Qatar, serving millions of customers and providing access to financial services. They are also focused on expanding their market in Europe. The company aims to become a leader in the industry and bridge the gap between Europe and the Middle East.
At Money20/20 Europe, FinTech Strategy spoke with BKN301 Founder & CEO Stiven Muccioli to find out more…
Tell us about the genesis of BKN301…
“I launched the company in 2021 with the vision to create the biggest tech provider for a digital banking service connecting North Africa, the Middle East, and Europe. We are looking at the demographic sheet of the world… In Europe, we are overserved by the banking system and it’s quite tough to create new projects in the FinTech space. It’s hard to scale past Europe, into the Middle East and North Africa. Ours is an operation in its early stages. There is a huge penetration with mobile devices in the Middle East and North Africa, but at the same time there are a huge amount of people unbanked.
So, we have created the platform to allow digital banks to start fast and with low cost. Basically, we are the ‘backbone’ for the new digital banking era in the Middle East and North Africa. We also work with many companies across Europe. However, we are very focused on the connection between the Middle East, North Africa and Europe. Also, we are focused on the remittances business and cross-border payments because many working abroad in Europe don’t have access to the banking system in Europe. And there are many digital banks in Europe trying to fulfil this gap for new customers.”
Tell us about your career journey…
“I began 15 years ago in the startup business and founded two other companies. The first one, Tippest, was a copycat of Groupon in Italy. This was founded with a group of friends in 2011 and we were able to scale successfully, leading to its sale in 2015. Following that, I moved to the US where I spent some time as an angel investor. In 2016 I came back to Italy to start a new company. It was a corporate venture operation inside of the Iccrea Bank, one of the biggest banking groups in Italy. We created a company named Ventis. It delivered the first super application that merged e-commerce and the digital bank.
We created a platform capable of delivering an e-commerce service, and at the same time digital banking services, payment cards, accounts and more. We managed this part of the business for the Group and reached good numbers. In 2020, we sold the company and today it is the third biggest payment player in Italy.”
Tell us about some of the successful partnerships BKN301 has been involved in…
“We have seen great successes with key partners such as Damen. Damen is a e-payment company in Egypt serving 18 million customers. Thanks to our technology, they are able today to provide a digital payment application to millions of Egyptians. They are now connected and have access to a range of financial services to save money and receive remittances from Europe and across the Gulf. A very successful story in terms financial inclusion.
It’s the same in Qatar where we serve a partner that provides service to labourers and construction workers – there are around 700,000 such workers in Qatar. A good example of financial inclusion because we provide the platform for a low-cost digital banking platform connecting unbanked people to Europe.”
What are some of the key challenges financial institutions are facing that you can help them with? What problems are companies asking you to solve?
“At BKN301, we’re focused on our technology and building an ecosystem based on APIs so we’re able to provide those APIs to digital banks – with us, they save time and money. So, the integration cost is far less than a traditional integration cost. They’re able to work multi-market because we are in different markets and they won’t have any legacy agreement with big corporates. We provide APIs so they can develop and use them for core banking and processing.”
What trends are you seeing across the FinTech landscape? What opportunities do you see for BKN301?
“Every year there is a new wave of news, but we don’t know how long each trend will it last… A couple of years back blockchain was at the core and everyone want to add a feature, sometimes without any reason. Now it’s the same with AI. To build a concrete platform on AI or on blockchain, you need many years, and a lot of investment, to be focused. I don’t believe companies that come out after six months saying they are now AI based. It’s impossible to build a real platform based on AI that quickly. We need to define the real companies. So, which one has the mature technology. It’s a good wave and I think there is a huge need. For example, anti-money laundering controls driven by AI could be a game changer.”
And what’s next for BKN301? What future launches and initiatives are you particularly excited about?
“This year we want to get more established in the market in Europe, so we will be focused on expansion. The goal for us is to become the door, the access bridge, between Europe and the Middle East. We aim to become a backbone for the new financial ecosystem across the region.”
Why Money20/20? What is it about this particular event that makes it the perfect place to showcase what you do?
“Every year there is a new wave of news… A couple of years ago blockchain was at the core and everyone wanted to add some feature on blockchain, sometimes without any reason. And now it’s the same with AI. To build a concrete platform on AI, or on blockchain, you need to be focused for years and have a lot of investment – it can’t be done in six months. So, as with blockchain, we need to define the companies making real progress with established technology based on AI, the same as we did with blockchain. It’s a good wave that can meet a huge need, for example with anti-money laundering controls, and Money20/20 is a great place to learn more about where the industry is at today.”
Standard Chartered has joined a suite of other institutional investors in the Digital Transformation platform United Fintech United Fintech is…
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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 enable access to financial services by underserved members of society at a time when the digital divide is widening.
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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.
FinTech Strategy met with Merusha Naidu, Global Head of Partnerships at Paymentology, to discover more about the global issue processor.
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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.
What trends are you seeing across the FinTech landscape? What opportunities do you see for Paymentology?
“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.”
Episode Six (E6), a global provider of payment processing and digital ledger infrastructure, has announced that its cloud-based solution offering…
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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.
FinTech Strategy spoke with Craig Ramsay, MD for Business Development at Episode Six, to learn about its approach to partnering to create payment products customers will love
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Episode Six (E6) have a deep understanding of the industry pain points and a vision of the enormous opportunity in the paytech arena. The three co-founders of E6 came together in 2015 to build and launch TRITIUM® – a platform that helps banks and fintechs leave legacy behind and build payments products their customers love.
From there, they attracted several visionary allies within key payments industry players to support E6, as they built a global team to bring their vision to market. They currently have employees in 35+ countries and support clients across five continents.
During Money20/20 Europe we spoke with Chris Ramsay, MD for Business Development at Episode Six, to learn more…
Tell us about the genesis of Episode Six?
“We are a mature business not a startup. We’ve been going nine years. Furthermore, we’re series C and have raised over £97 million across three rounds. The last round was in March 2023. We’re actually a secure reliable FinTech. We work with the likes of HSBC and can meet that reliability change for banks who might be wondering whether a solution provider will still be around in two years. E6 has 180 employees globally. We operate in Asia, the US and we’re growing fast in Europe.
Additionally, we see huge growth in this space and we’re really excited – it’s one of the reasons I joined from HSBC nine months ago. At E6, we love to solve customer problems, and a customer problem has payment as a component. We want to make that customer journey a better experience in a safe and secure way. Banks want to do that. Companies want to do that. People just need the technology to be able to do it well. And we think we’re able to support that now and in the future.”
Tell us about your role at Episode Six?
“I joined from HSBC where I was the innovation head on the corporate side for the bank speaking to a lot of the verticals. And every time I spoke to hospitality, healthcare, or telcos, they were asking about how can you actually do intake as a bank… And the bank’s response is that they would love to do that, but they’re not fintechs. I got a bit frustrated by trying to always push for change. Yet there is a different way. And that way is for banks to actually think about E6 as a partner. We provide technology. We’re a technology company. We have a ledger that allows you to actually take lots of different products to sit alongside your core business, and then we can do the issuing and processing.
What are some of the key challenges financial institutions are facing that you can help them with? What problems are they asking you to solve? In doing so, what are the challenges for Episode Six?
“We are now deploying into the Middle East and recently launched within Saudi Arabia. Our technology can pretty much be used in every country. And what’s interesting, I’m a banker and I know that everybody likes to make things complicated. The payments process does not have to be complicated. You can simplify it. People who are buying into our services start from addressing their customer problems. They’re keen to solve them and don’t want, or need, to understand all the ins and outs of payments. They just want to be able to get things done. And that’s where again, we try and focus a lot of our effort. So, it’s the people aspect of our company we’re proud of because we are bringing cross industry knowledge combined with technology to actually have a bit of fun.
Tell us about some of the successful partnerships Episode Six has been involved in…
Japan Airlines
“Japan Airlines is one of the companies that we power. You download the Japanese Airlines app when you’re booking your flights. And if you’re a regular customer you get points like you do with BA. And they also have a multicurrency wallet within their app that’s linked to a card. That card is powered by a bank and has 15 currencies on it, along with the loyalty points. So, the card can be used outside of Japan as a normal debit card and handles the currency conversion. We have Revolut in Europe and they have an inbuilt multicurrency app in Japan airlines and link to loyalty points.
So, for the Japanese Airlines customer, they don’t have to worry about being embarrassed about not having the right currency abroad and plan how they will actually be able to spend their money. Our platform also enables FX rates to be changed. For example, Platinum Japanese Airlines customers get better FX rates. All of this creates a great customer experience, but it’s the flexible technology that’s making things happen.”
A-Tono
“We have also just launched with A-Tono in Italy. Italians love real Cash, but even so digital payments grew 12% last year compared to 2022, totalling €444bn, up from €397bn. It represents a huge opportunity for payment solutions providers and retailers. A-Tono wants to deliver prepaid card offerings across many verticals: transit, gift cards, post offices and more. They needed the right technology to be able to make these offerings. You take a card and load money onto it – we power that for A-Tono. We’ve actually migrated all of their existing customers onto our platform. They want to stand out as the innovator in digital payments in Italy where Italians don’t have many choices.
By integrating E6’s powerful enterprise-grade payment processing and ledger technology, A-Tono can now offer its clients, which span a number of sectors in Italy, access to the latest global payment capabilities. Switching to E6 has broadened the services A-Tono is able to offer clients when it comes to payments processing and solutions, giving them more flexibility, choice and revenue streams.
Together, E6 and A-Tono will offer clients easy access to the most innovative payment solutions, integrated seamlessly into their existing infrastructure to provide secure, scalable and best in class customer-centric experiences.
Whatever the size of the company, whatever the region, we want to be involved in solving customer problems.”
What trends are you seeing across the FinTech landscape? What opportunities do you see for Episode Six?
“Everybody says cheques are going to go, they’ve been saying that for years but it’s actually happening. Not in the US, but digital payments are on the rise and it’s not just card payments. You’ve got wallet payments and the likes of PayPal, people don’t want physical cash. I don’t think the large retail brands have found a real solution. When you see what’s on offer at events like Money20/20 there are lots of people who can actually solve problems and it’s the collaboration I get excited about. What I’ve seen change over the last three or four years is that the Visas, the Mastercards and the big banks are looking to find small organisations like us to figure out how to solve their problems.”
And what’s next for Episode Six? What future launches and initiatives are you particularly excited about?
“The great thing is that we can go fast. We’re able to take a customer opportunity today and be delivering it and in market by the end of the year. That growth is consolidating our position that we are a technology company that can be trusted. We’re here to stay, but it’s the people that are employed by E6 that are really going to be the difference about why we are chosen versus some of our competitors. It’s not just about technology, it’s about trust and it’s about partnership because everybody wants their money to be transferred safely. And we can be trusted because we’re already trusted by the big banks.
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 Episode Six?
“Networking is really important for us as a small company. I wander around the stands here and there are lots of people who can actually solve problems and it’s the collaboration I get quite excited about. What I’ve seen change over the last three or four years is that the big banks are looking to find small organisations like us to figure out how to solve their payments problems. And that’s different to when I was working for a bank only a few years ago. You just have to be here at Money20/20… What I’m seeing, since we returned after Covid, is how many people from different parts of the world are coming here to actually talk to each other in person. If you’re not here at Money20/20, then it’s actually hard to be relevant in this industry.”
FinTech Strategy hears from Till Wirth, EVP of Product at Wise Platform, to find out more about its mission to make international payments fast, low-cost, convenient and transparent
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At Money20/20 Europe in Amsterdam, Till Wirth, EVP of Product at Wise Platform, took part in an impactful session titled “From Personal Payments to Enterprise: The Changing World of Cross-Border.” Wirth’s panel talk focused on the transformative trends in cross-border payments and their implications for both personal and enterprise financial transactions.
“Wise is a global technology company building the best way to move money around the world. Wise Platform is Wise – but for banks, large businesses and other major enterprises.
We allow our partners to embed the best way to send, receive and manage money internationally into their existing infrastructure, creating value for their business and customers.
Over the past decade, Wise (formerly known as Transferwise) has built a global payments infrastructure that has revolutionised how money moves around the world. Now, thanks to Wise Platform, other companies can gain access to our industry-leading, reliable service seamlessly.
We save partners time and money by allowing them to deploy new products and services to customers seamlessly, helping them to speed up innovation and serve, retain, and grow their customer base.”
FinTech Strategy spoke with Wirth to learn more…
Tell us about the genesis of Wise… Why is this an exciting time for the company?
“For us at Wise, it’s all about continuing towards our mission of making international payments fast, low-cost, convenient and transparent for our customers and partners.
It’s an exciting time for us as we’ve moved over £118bn on behalf of our 12.8 million active customers in the last financial year and helped them save more £1.8bn in fees. Over 62% of Wise’s transfers are completed instantly (in 20 seconds or less). Wise Platform, our global payments infrastructure for banks and enterprises is growing quickly, too, which allows us to bring the benefits of Wise to more people around the world.”
Tell us about your role…
“I lead the Wise Platform Product team building the global payments infrastructure for banks, financial institutions and enterprises around the world. For example, my team built the product behind the collaboration we announced with Swift last year.”
What are some of the key challenges financial institutions are facing that you can help them with? What problems are they asking you to solve?
“Consumers now expect their cross-border payments to be instant, convenient and transparent. And they are moving to providers they can trust to provide these services. As a result, we’re seeing banks focusing on retaining and winning back their customers through improving their cross-border payments experience. This is exactly what Wise Platform is helping them to do.
We work with more than 85 partners globally, including Bank Mandiri, Indonesia’s largest bank by assets, Shinhan Bank, one of South Korea’s oldest and largest national banks, and GMO in Japan to provide them with the capabilities, technology and network to enable fast, secure and cost-effective international payments for their customers. Quickly, directly from their own apps, without any major technical overhaul.”
Tell us about a recent success story…
“In June this year, Wise Platform hit a major milestone when our integration with Nubank, the world’s largest digital banking platform with over 100 million customers, went live.
Thanks to our partnership, Nubank’s premium Ultraviolet customers can now access multi-currency accounts and debit cards powered by Wise directly from their Nubank app. Customers benefit from a convenient user experience that we’ve tested and iterated over the years for our own customers to seamlessly manage their finances internationally.”
Why do you think the evolution of collaboration between banks and fintechs is set to continue?
“One of the reasons is that while banks have scale, they can gain agility in non core focus areas by working with fintechs and deliver significant customer benefits quickly.
Most banks have been built to focus on domestic banking, meaning their global cross-border payments are often not a priority. However, fintechs are better able to specialise and focus on one specific customer pain point. This means they can innovate much more quickly.”
Why Money20/20? What is it about this particular event that makes it the perfect place to showcase what you do? What’s the response been like for Wise?
“It’s a great event that brings the industry together and enables us to discuss the progress we’re collectively making. This year in particular, it was great to be on a panel to discuss how the cross-border payments landscape is evolving and the latest trends we’re seeing. We look forward to the upcoming event in the US later this year.”
Digital payments are now the preferred payment method for much of the world, and they continue to evolve.
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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 likeVisa 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.
The RAI Amsterdam Convention Centre was the location for the world’s leading fintech conference.
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Money20/20 Europe offered a unique blend of insightful keynotes, panel discussions, and networking opportunities. These underscored the transformative power of emerging technologies in financial services.
This year’s theme was ‘Human X Machine’. Money20/20 Europe explored the relationship between humans and intelligent machines, focusing on how the partnership between artificial and human intelligence will forge a new era in finance…
Innovations in AI and Open Banking
Artificial Intelligence was a major theme throughout Money20/20. A notable session featured Patrice Amann from Microsoft and Kevin Levitt from NVIDIA. They discussed the role of Generative AI in transforming customer experiences in banking. They highlighted the importance of integrating business-specific data to enhance the accuracy and effectiveness of AI solutions.
Open banking also garnered significant attention at Money20/20. Mastercard and bunq announced a partnership enabling users to consolidate multiple bank accounts through bunq’s AI-driven money assistant, Finn. This move is part of a broader trend towards greater financial integration and personalised banking experiences. Additionally, Token.io and Prommt unveiled a collaboration to improve open banking payments. This illustrated the increasing importance of seamless, user-friendly payment solutions in the fintech landscape.
Michelle Prance, CEO, Mettle (NatWest Group): “It’s good for Mettle to come here because we are a fintech that was incubated inside a large bank for fintechs. Quite often their route to market, and capitalisation, is by going into a main bank being acquired. It’s a marriage between a big organisation and the small nimble fintech. People are really interested in what we’re doing because big incumbents want to be fast and nimble. They don’t always have the capital to invest in something like we’ve been able to do with Mettle. So, they’re interested to know the right route. Do they incubate in house? Or do they buy it in? And what’s the right way to do that without killing the culture? These are the types of interesting conversations we’ve been having here.”
Episode Six
Craig Ramsay, MD Business Development, Episode Six: “Networking is really important for us as a small company. There are lots of people here who can actually solve problems and it’s the collaboration I get quite excited about. What I’ve seen change in recent years is that the big banks are looking to find small organisations like us to figure out how to solve their payments problems. And that’s different to when I was working for a bank only a few years ago. You just have to be here at Money20/20… What I’m seeing, since we returned after Covid, is how many people from different parts of the world are coming here to actually talk to each other in person. If you’re not here at Money20/20, then it’s actually hard to be relevant in this industry.”
