Fraudsters are fluid — they constantly experiment with new tactics to find cracks in a merchant’s defenses. In 2023, there are five trends that merchants need to be aware of — we saw each in 2022 and expect to see them with even more frequency in the year ahead.

Human ‘Bot’ Farms

There are a variety of reasons why this past year has been challenging. Businesses worldwide have become accustomed to adapting to new circumstances due to post-pandemic complexities, war-induced energy crises, cryptocurrency market crashes, high inflation and soaring interest rates.  

However, despite all these challenges, the UK fintech market has grown steadily and has provided businesses with ways to remain ahead of the curve and offer simpler, more accessible financial services. 

NCR Corporation, a leading enterprise technology provider, today announced that it has entered an agreement with United Heritage Credit Union (UHCU) to run the credit union’s ATM fleet through NCR’s ATM as a Service solution (ATMaaS).

Auriga, a global software provider for the omnichannel banking and payments industry, has announced it is taking a majority shareholding in F1 Solutions, a Warsaw-based, multi-vendor ATM, cash management and cash recycler software vendor. The deal furthers Auriga’s international expansion strategy and will help the business enter the Polish market and grow in Central and Eastern Europe (CEE).
 

BNY Mellon and Fiserv, a leading global provider of payments and financial services technology, have joined forces to deliver additional capabilities for real-time foreign exchange (FX) rate quotes for payments from U.S. financial institutions.

Fenergo, the leading provider of digital solutions for client lifecycle management (CLM), today released its annual findings on global financial institution fines, which show that the number of penalties issued for crypto sharply rose in 2022.

It’s little surprise that financial services organisations have a target on their backs.

Cybercriminals know they work with valuable personally identifiable information and proprietary financial information that can be monetised. Financial services companies are also likely to have a rainy-day fund that can be tapped for ransom payments.

With less than 1% of people using and adopting blockchain technology, education in the blockchain ecosystem is important to drive adoption. Towards this end, NITI Aayog’s Atal Innovation Mission has come out with first-of-its-kind Blockchain Module in partnership with 5ire and Network Capital.

2022 was a year of transition for consumers, as BNPL (Buy Now, Pay Later) and mobile payments became mainstream, SoftPOS technologies swept into the retail world, and CBDCs took another major step forward in their development. But what’s coming next? Tommaso Jacopo Ulissi, Head of Group Business Strategy, Nexi Group explores some key trends to expect in 2023…

Lessons learned from 2022

1. BNPL

Main Street Alliance (MSA), a non-profit organization that works with small businesses across the country to create an equitable economy, today announced that it has partnered with