Global losses to payment fraud have surged to $48 billion USD in 2023, and payment companies around the

The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, today announced the addition of New Horizon Bank as its newest member. New Horizon embodies AFC’s focus on consumer-centric finance and innovations that help businesses and families take control of their financial futures.

PayPal is committed to advancing products and experiences that help customers manage their financial lives. PayPal has teamed up with UKG, a leading provider of HR, payroll, workforce management, and culture solutions, to give U.S. employees whose pay is processed through UKG Pro the ability to easily set up PayPal Direct Deposit through their employer’s payroll portal.

CaixaBank has launched a second phase in the development and deployment of generative artificial intelligence to scale use cases and implement them throughout the group. The aim of this project is to improve the customer and employee experience and increase productivity and efficiency, as the bank's professionals will be able to devote more time to projects with greater added value.

According to the latest Bank of Ireland fraud data for the first half of 2024, the volume of investment fraud attempts has surged by 76% compared to the same period in 2023.

Investment fraud happens when fraudsters, posing as legitimate firms, offer consumers investment opportunities on social media or in a sponsored search result. A common tactic is to promise high returns and then put people under considerable pressure to commit to the investment opportunity quickly.

WSPN (Worldwide Stablecoin Payment Network), a leading provider of next-generation stablecoin infrastructure, has raised US$30 million in Seed funding round. This round was led by Foresight Venture and Folius Ventures, with participation from prominent investors including Hash Global, Generative Ventures, Yunqi Partners, RedPoint China, and a consortium of top-tier investment companies, exchanges and foundations. 

CIOs and CISOs face unrelenting pressure from three massive forces. First, the risk to their data is constantly growing. Some of that is due to an increase in Cyber events, themselves being enabled by the simplicity of AI and SaaS models making it easier for even complete beginners to orchestrate attacks, and it’s also from geo-political agendas leading to a rise in state-sponsored attacks. 

TransUnion, a global information and insights company and one of the UK’s leading credit reference agencies, has welcomed Sharon Naidoo as its new Chief Financial Officer (CFO) for the UK and Europe.

Global analytics software leader FICO announced today that Network International LLC (NI), headquartered in Dubai, has helped banks in the Middle East and Africa help prevent fraud using a cloud-hosted version of the industry-leading FICO® Falcon® Fraud Manager.