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Caught in the Scam Crossfire: Will New Rules Shift the Cost to You?
Starting October 7th, banks and payment providers in the UK must now refund scam victims up to £85,000 within five days.
While this sounds like great consumer protection, this new rule also places significant operational and financial strain on payment providers, which could lead to higher fees, longer transaction times, and restricted services for customers = YOU.
Read my article on this issue and discover why this could mean higher costs for YOU here:
https://www.linkedin.com/pulse/caught-scam-crossfire-new-rules-shift-cost-you-viktoria-soltesz-0xqac
Starting October 7th, banks and payment providers in the UK must now refund scam victims up to £85,000 within five days.
While this sounds like great consumer protection, this new rule also places significant operational and financial strain on payment providers, which could lead to higher fees, longer transaction times, and restricted services for customers = YOU.
Read my article on this issue and discover why this could mean higher costs for YOU here:
https://www.linkedin.com/pulse/caught-scam-crossfire-new-rules-shift-cost-you-viktoria-soltesz-0xqac
Evolution of Payment and Banking
Interview with Banking on Information with Rutger van Faassen
Beginning
20 years ago, global commerce and digital payments expanded, and required guidance on a new challenge: effectively managing relationships with banks and payment providers.
The questions shifted—clients wanted to know the safest, most efficient ways to handle their funds across borders.
The results of banking decisions were confusing and incoherent: one provider might facilitate a transaction seamlessly, while another could flag the same transaction as risky. This experience highlighted a need for better understanding of banking and payments and sparked the mission to uncover the underlying "whys" that shape each institution’s approach to handling transactions.
Today
Today, I run an independent payment and banking consultancy, which works with clients across various industries to develop robust banking and payment strategies. Payment and banking today address essential elements of various business operations, including marketing, profitability, risk, technology, integration, and growth potential, which need to be dealt with.
Future
Technological advancements will likely drive many changes in the payment industry, but global regulatory standards will remain inconsistent. Different countries will maintain unique rules, requiring businesses to carefully manage these variations to avoid regulatory challenges. Banks and payment providers will continue to evaluate transactions according to their specific criteria, creating both opportunities and risks in international operations.
As banking and payment operations grow in importance, many businesses will recognize these functions as distinct from traditional finance. Today’s payment methods require expertise in various fields such as UX, banking, compliance, and technology that go beyond typical finance or investment concerns.
You can watch the interview here: https://www.youtube.com/watch?v=ttMfW2oRpss&ab_channel=RutgervanFaassen
Interview with Banking on Information with Rutger van Faassen
Beginning
20 years ago, global commerce and digital payments expanded, and required guidance on a new challenge: effectively managing relationships with banks and payment providers.
The questions shifted—clients wanted to know the safest, most efficient ways to handle their funds across borders.
The results of banking decisions were confusing and incoherent: one provider might facilitate a transaction seamlessly, while another could flag the same transaction as risky. This experience highlighted a need for better understanding of banking and payments and sparked the mission to uncover the underlying "whys" that shape each institution’s approach to handling transactions.
Today
Today, I run an independent payment and banking consultancy, which works with clients across various industries to develop robust banking and payment strategies. Payment and banking today address essential elements of various business operations, including marketing, profitability, risk, technology, integration, and growth potential, which need to be dealt with.
Future
Technological advancements will likely drive many changes in the payment industry, but global regulatory standards will remain inconsistent. Different countries will maintain unique rules, requiring businesses to carefully manage these variations to avoid regulatory challenges. Banks and payment providers will continue to evaluate transactions according to their specific criteria, creating both opportunities and risks in international operations.
As banking and payment operations grow in importance, many businesses will recognize these functions as distinct from traditional finance. Today’s payment methods require expertise in various fields such as UX, banking, compliance, and technology that go beyond typical finance or investment concerns.
You can watch the interview here: https://www.youtube.com/watch?v=ttMfW2oRpss&ab_channel=RutgervanFaassen
The Top 30 Global Banks Blockchain Adoption Use Cases
As we delved into the #Blockchain adoption of the Top 30 global Banks, we've compiled a list of the use cases the've already adopted and in which areas they've implemented blockchain-based solutions to optimize transaction and operations processes.
In this article we provide an excerpt of the specific blockchain use cases for banks and provide an overview of how those top banks are utilizing blockchain technology.
From #digitalidentity, #tradefinance and #tradesettlement to #repomarkets, #compliance and even #accounting, the #distributedledger has been implemented in many use case by the leading banks, and the pace of adoption is constantly increasing.
Find out more for which use cases banks like J.P. Morgan, Bank of America, MUFG, HSBC, BNP Paribas, Crédit Agricole, Citi, BNY, Santander, Barclays, UBS, Societe Generale, Goldman Sachs, Deutsche Bank, Morgan Stanley, ING, Standard Chartered, BBVA, ABN AMRO, BNP Paribas, Nomura, State Street embracing blockchain technology.
Read here 👇 👇 👇
https://www.riva.markets/the-top-30-global-banks-blockchain-adoption-uses-cases/
As we delved into the #Blockchain adoption of the Top 30 global Banks, we've compiled a list of the use cases the've already adopted and in which areas they've implemented blockchain-based solutions to optimize transaction and operations processes.
In this article we provide an excerpt of the specific blockchain use cases for banks and provide an overview of how those top banks are utilizing blockchain technology.
From #digitalidentity, #tradefinance and #tradesettlement to #repomarkets, #compliance and even #accounting, the #distributedledger has been implemented in many use case by the leading banks, and the pace of adoption is constantly increasing.
Find out more for which use cases banks like J.P. Morgan, Bank of America, MUFG, HSBC, BNP Paribas, Crédit Agricole, Citi, BNY, Santander, Barclays, UBS, Societe Generale, Goldman Sachs, Deutsche Bank, Morgan Stanley, ING, Standard Chartered, BBVA, ABN AMRO, BNP Paribas, Nomura, State Street embracing blockchain technology.
Read here 👇 👇 👇
https://www.riva.markets/the-top-30-global-banks-blockchain-adoption-uses-cases/
The Top 30 Global Banks Blockchain Adoption Uses Cases - RIVA Markets
The global real estate market is expected to reach a value of USD 637 trillion in 2024 according to data presented by Stocklytics. By 2028, this fi...
Trending Updates
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Master C.
Jan 8, 2023
We are looking for the best of the best from our members to join our Premier Master Enabler Program. Focusing right now on International Expansion and New Market Entry professionals for Europe, Latin America, and the USA. Interested in learning more message Master Connector here or email - masterenabler@fintechconnector.com
Upvoted by Johannes and 11 others
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Master C.
Aug 9, 2022
Meet our FinTech Connector Switzerland Cruise sponsors on September 9th in Zurich.
Lloyd's & Partners (VIP Gold Sponsor) and VISA Europe (Premier Sponsor).
We want to thank Lucas T. Landolt (Lloyd's & Partners), Adrian Burgi (Lloyd's & Partners) and Santosh Ritter (VISA) for your support and we look forward to meeting you in Zurich.
There is still time to RSVP for our premier event of the year - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
Thank you Fabian Lehner for organizing this event for our FinTech Connector members and partners.
#FinTechConnector #Switzerland #Zurich #Event
Lloyd's & Partners (VIP Gold Sponsor) and VISA Europe (Premier Sponsor).
We want to thank Lucas T. Landolt (Lloyd's & Partners), Adrian Burgi (Lloyd's & Partners) and Santosh Ritter (VISA) for your support and we look forward to meeting you in Zurich.
There is still time to RSVP for our premier event of the year - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
Thank you Fabian Lehner for organizing this event for our FinTech Connector members and partners.
#FinTechConnector #Switzerland #Zurich #Event
Upvoted by Greg and 8 others
Upvoted by 9
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Master C.
Jun 17, 2022
As the global economic environment is shifting, now more than ever partnering with the right organizations to increase business opportunities, focus on revenue growth, and drive innovation is critically important.
We can help you on your fintech and innovation journey.
Click on the link to learn more and let's jump on a call to discuss your business objective - https://www.fintechconnector.com/organizations
#FinTechConnector #Innovation #Partnerships #BusinessDevelopment
We can help you on your fintech and innovation journey.
Click on the link to learn more and let's jump on a call to discuss your business objective - https://www.fintechconnector.com/organizations
#FinTechConnector #Innovation #Partnerships #BusinessDevelopment
Upvoted by Brian and 4 others
Upvoted by 5
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Angel L.
Jan 11, 2023
I wrote an article that highlights the opportunities and challenges of digital transformation in banking and covers points on having a well-thought-out plan, organizational culture, and how to get started with partners that have done it already.
Click to read the article - https://www.fintechconnector.com/blog-actual/2023/1/9/innovating-banks-start-with-a-digital-transformation-plan
Sharing with our Financial Service Automators - Vikas Bansal Erik Gillet Darrell Wright Luisa Franco Batu Sat Simon Weifenbach Les Riedl Andy Lin Jenna Chamra Craig Schwartz Robert Lacoursière Michael Montecuollo Jonathan Blessing Christin Nagel Shweta Mahajan Michael Young Martina Rousseau Ridham Modi Trena Blair Jen Gonzalez Carlos M. Mendes
Click to read the article - https://www.fintechconnector.com/blog-actual/2023/1/9/innovating-banks-start-with-a-digital-transformation-plan
Sharing with our Financial Service Automators - Vikas Bansal Erik Gillet Darrell Wright Luisa Franco Batu Sat Simon Weifenbach Les Riedl Andy Lin Jenna Chamra Craig Schwartz Robert Lacoursière Michael Montecuollo Jonathan Blessing Christin Nagel Shweta Mahajan Michael Young Martina Rousseau Ridham Modi Trena Blair Jen Gonzalez Carlos M. Mendes
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Stephen W.
Mar 18, 2022
See our recent WealthTech 2022 report for a range of viewpoints and thinking on the main trends for WealthTech in 2021/2022.
https://www.thewealthmosaic.com/vendors/the-wealth-mosaic/news/wealthtech-2022-is-live/
This is one of an expanding number of reports we've created at The Wealth Mosaic on technology in wealth management. Next up is our second ESG report, then our second Blockchain & DLT report, then our first US RIA WealthTech report.
https://www.thewealthmosaic.com/vendors/the-wealth-mosaic/news/wealthtech-2022-is-live/
This is one of an expanding number of reports we've created at The Wealth Mosaic on technology in wealth management. Next up is our second ESG report, then our second Blockchain & DLT report, then our first US RIA WealthTech report.
Upvoted by Diego and 7 others
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Luisa F.
Mar 7, 2024
Hello Fintech Connector Community! I have a bank client looking for fintechs that are interested in bank sponsorship. If you're in the market for a bank sponsor, please message me.
Upvoted by Stuart and 2 others
Upvoted by 3
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Angel L.
Apr 17, 2022
Another powerful report from FIS on global payments. This is a 156-report that gives you global payments trends, key insights, and other important ecosystem information.
The payments space continues to evolve with super apps, CBDCs, embedded finance, evolution of real-time payments, banking the unbanked, and more...
Check out the report and use it as a reference guide for what's happening and what's coming in payments.
I want to thank Ahmed Refaie Abdo from DSRPTD in the UAE for sharing it with me.
What are your thoughts? Steven Wasserman, Mario Cohen, Jaroslaw Sarwa, Angel Lorente, Carlos M. Mendes , Fabian Lehner , Elena Kozhemyakina , Jaroslaw Sarwa , Adam Ull , Sefa Bicer , Shafique Ibrahim
#fintechconnector #fintech #financialservices #innovation #payments #CBDC #cryptocurrency
The payments space continues to evolve with super apps, CBDCs, embedded finance, evolution of real-time payments, banking the unbanked, and more...
Check out the report and use it as a reference guide for what's happening and what's coming in payments.
I want to thank Ahmed Refaie Abdo from DSRPTD in the UAE for sharing it with me.
What are your thoughts? Steven Wasserman, Mario Cohen, Jaroslaw Sarwa, Angel Lorente, Carlos M. Mendes , Fabian Lehner , Elena Kozhemyakina , Jaroslaw Sarwa , Adam Ull , Sefa Bicer , Shafique Ibrahim
#fintechconnector #fintech #financialservices #innovation #payments #CBDC #cryptocurrency
Upvoted by Michelle A. and 7 others
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Master C.
Oct 5, 2022
Great seeing our Mexico Community Partner Sofia Gamboa on El Financiero Factor Fintec speaking with Sergio Loredo about fintech in Mexico.
Watch the interview here - https://www.elfinanciero.com.mx/video/tv/factor-fintech/2022/10/01/entrevista-con-sofia-gamboa-de-fintech-connector-por-sergio-loredo-factor-fintec-4-t4/
NOTE: The interview is in Spanish.
Watch the interview here - https://www.elfinanciero.com.mx/video/tv/factor-fintech/2022/10/01/entrevista-con-sofia-gamboa-de-fintech-connector-por-sergio-loredo-factor-fintec-4-t4/
NOTE: The interview is in Spanish.
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Master C.
May 13, 2022
SWITZERLAND IS CALLING ALL FINTECH CONNECTOR MEMBERS...
Join us in Zurich in September for a networking lunch cruise around Lake Zurich.
RSVP today and meet members from over 10+ countries in one of the most beautiful cities in Europe.
Here is the link - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
#FinTechConnector #Community #Zurich #Events
Join us in Zurich in September for a networking lunch cruise around Lake Zurich.
RSVP today and meet members from over 10+ countries in one of the most beautiful cities in Europe.
Here is the link - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
#FinTechConnector #Community #Zurich #Events
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Angel L.
Nov 11, 2022
Great to see how we have come a long way since our Meet Ups at Hurley's in NYC to now travelling the world to connect people, opportunities, and capital. Looking forward to our 2023 FinTech Connector events being announced shortly.
Hope to have many of our members joining us on our Innovation Days, Cruises, and VIP Member Dinners.
Thanks to our Community Partners Fabian Lehner Jaroslaw Sarwa Elena Kozhemyakina Shmuel Ben Tovim Mario Cohen Narayanan Ganapathy Meriem Yacoubi Varsenia Stoyanova Aleksandra Ossowska Alfonso Ballesteros Ryohei Uetani Sofia Gamboa Vikas Bansal Shaul Lifshitz
Hope to have many of our members joining us on our Innovation Days, Cruises, and VIP Member Dinners.
Thanks to our Community Partners Fabian Lehner Jaroslaw Sarwa Elena Kozhemyakina Shmuel Ben Tovim Mario Cohen Narayanan Ganapathy Meriem Yacoubi Varsenia Stoyanova Aleksandra Ossowska Alfonso Ballesteros Ryohei Uetani Sofia Gamboa Vikas Bansal Shaul Lifshitz
Upvoted by Vikas and 12 others
Upvoted by 13
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