After delivering some world-class solutions for FedNow in the US and MEPS+ in Singapore, PaymentComponents delivers a P27 solution for the Nordics. Enhancing its Finaplo Financial messaging solution with P27 payments allows banks in the area to alleviate the burden of transitioning to this new protocol. P27 is a joint initiative within the Nordics to establish a pan-Nordic payment infrastructure for domestic and cross-border payments in the Nordic currencies and the Euro.

The Finaplo solution is offered as an embedded SDK that banks can integrate into their payments application and allow them to build, validate and parse their P27 messages . Additionally, an online service, which is also available via APIs for message validation, is offered to speed up testing for the messages of the P27 payment protocol. The use of our financial messaging libraries allows developers to embed our tools into their existing projects and to navigate this change smoothly.

PaymentComponents is a global B2B solution provider for the Payments and Open Banking space. We provide open and light software components in payments, financial messaging, and open banking that can transform your business. Our solutions are the necessary ingredients for more than 60 Banks, and Financial Institutions spread across 25+ countries to help them innovate and become digital champions.

Finastra today announced that Delta National Bank & Trust Company (Delta Bank) has selected Fusion Essence and Fusion Payments To Go as its new retail core banking and payments solutions to modernize its digital banking infrastructure. The move will also support better customer experiences for its international account holders.

Headquartered in New York, Delta Bank provides international private banking services to South American investors. Finastra’s Fusion Essence and  Fusion Payments To Go will enable internal stakeholders at Delta Bank to tap into accurate and reliable reporting in order to deliver innovative solutions to clients and improve decision-making.

Guillermo Sefair, Chairman and President at Delta National Bank & Trust Company said, “At Delta Bank, we are committed to delivering the best banking options and financing strategies for our clients, which is why we are excited to offer modern, future-proof technology and payment offerings. We know that implementing Finastra’s cloud-based solutions will drive more innovations for our clients, with faster service powered by an integrated platform.”

With this conversion to Fusion Essence, Delta Bank is moving its core from on-premise to a cloud-native SaaS solution. End users will have access to more information and will be able to automate manual tasks, improving service quality and helping to support future business requirements.

Delta Bank has also selected real-time compliance screening, Anti-Money Laundering (AML) and Know Your Customer (KYC) solutions through Fincom.co, an app available via Finastra’s open development platform, FusionFabric.cloud.

“We look forward to improving Delta Bank’s process efficiency and helping to minimize its operational risk by automating manual processes, such as assessment, late payment interest calculation, and reporting,” said Siobhan Byron, EVP, Universal Banking Business Unit at Finastra. “By streamlining Delta Bank’s internal data management, we will also be enabling its decision-makers to reference a single source of truth. Delta Bank is an excellent example of a dynamic, international institution that is transitioning to the cloud and is benefitting from our orchestrated ecosystem to future-proof its business.”

iProov, the world leader in face biometric verification and authentication technology, and Microblink, a global leader in AI-powered computer vision software, announced today a partnership to provide a premier biometric- and document-based identity verification solution to organizations worldwide.

Combining Microblink's expertise in AI-powered identity document scanning with iProov's best-in-class biometric face verification, organizations can fully onboard new customers in an easy-to-use process without compromising fraud protection.

“As consumer demand for digital identity services grows exponentially, organizations must stay a step ahead of the evolving and sophisticated threats to online verification systems,” said Joe Palmer, chief product & innovation officer at iProov. “Together, iProov and Microblink provide an integrated solution that protects organizations against online fraud, while safeguarding consumers’ digital identity.”

iProov’s patented face biometric verification and authentication technology are used by organizations globally to confirm that an online user is the right person, a real person and that they are authenticating right now. Its Genuine Presence Assurance^® and Liveness Assurance™ technologies deliver an effortless user experience with the highest levels of security to help prevent fraud, identity theft, and other cybercrime during online onboarding, authentication, and identity recovery.

"We believe that an increasing number of industries are looking for fully automated identity verification solutions that provide the best combination of user experience and fraud protection,” said Hartley Thompson, chief operating officer at Microblink. “Microblink's partnership with iProov is a powerful offering to meet those needs."

BlinkID is Microblink’s AI-driven software solution that enables seamless scanning and data extraction of identity documents. With the ability to scan document types from 138 countries – including driver’s licenses, passports, and other government-issued IDs – Microblink’s solution serves a number of industries and companies looking to evolve their identity verification process.

iProov and Microblink first offered a holistic solution for Ignition-Innovation’s digital identity service, TruMeID, in Trinidad & Tobago.

Recent research commissioned by Trulioo, a leading global digital identity verification platform, shows consumers around the world have become far more concerned about online fraud and identity theft when making payments. Security is a major factor, with 73% of online payment service customers saying it’s a bigger consideration now than it was two to three years ago, according to the “Finding the payments sweet spot between security and speed” report.

Jumio, the leading provider of end-to-end identity proofing, risk assessment and eKYC/AML compliance solutions, today unveiled at Money20/20 USA its extended Jumio KYX Platform, with an integrated orchestration hub benefiting from the company’s acquisition of 4Stop. The platform streamlines fraud and eKYC/AML compliance management with the intuitive one-stop orchestration hub, which brings together global data, risk signals, real-time analytics, actionable insights and a configurable rules engine to help businesses defend against fraud without compromising user experience. With over one billion identity, risk and AML transactions completed for over 1,000 organizations in more than 200 countries and territories, Jumio is delivering on its promise to eradicate online identity fraud and accelerate digital trust for all.

Organizations today must detect and respond to increasingly sophisticated fraud attacks quickly and accurately to reduce business impact while also maintaining customer trust. According to recent global Jumio research, 80% of consumers prefer the assurances delivered by digital identity verification measures when choosing online brands. 

Unfortunately, many organizations rely on a plethora of point solutions to evaluate the fraud risk across the user journey. This creates friction in the onboarding process and can lead to transaction abandonment. The ever-present threat of new fraud vectors and constant change of compliance mandates across the globe complicate the organization’s ability to keep up, forcing them to deploy considerable internal resources to manage fraud and compliance.

“Businesses’ ability to effectively manage fraud by stitching together myriad point solutions is no longer sustainable amidst increasingly robust attacks and IT resource constraints,” said David Mattei, strategic advisor at Aite-Novarica Group. “In addition to enabling organizations to fight fraud in real-time as the threat landscape evolves, orchestration platforms provide greater agility to respond to fraud and are simple to use. In fact, our research shows that global fraud executives whose fraud solutions are integrated were two times more likely to report that managing fraud was ‘somewhat to very easy’ versus those whose fraud tools were not integrated.”

The Jumio KYX Platform helps businesses know and trust their users, players, and patients — whoever the “X” is in their business — online. Its intuitive orchestration hub assists professionals tasked with protecting the organization and its customers from fraud, money laundering and other financial crimes during account onboarding, authentication and ongoing transaction processes.

The platform includes:

●       Identity Proofing with Expanded Risk Signals

○        Jumio’s market-leading ID Verification, Identity Verification and Document Verification capabilities significantly enhanced to detect sophisticated ID/document manipulations

○        An extensive portfolio of globally trusted data sources for added assurance when evaluating risk across the user journey

○        Name, address, phone, email and device risk signals to provide additional assurance and support compliance

●       Fully Integrated Orchestration Hub

○        An enterprise-grade dashboard that presents business-critical information in a custom visual format with options to deep dive into data, including:

■       Access to 500+ global data sources for identity proofing, risk assessment and eKYC/AML compliance

■       Real-time analytics and actionable insights to help business users respond to threats

■       Easy and customizable consolidated fraud and compliance views along with enhanced visualizations/reporting

●       Self-service Rules Engine

○        Customizable workflows allow business users to tailor their processes according to their unique use cases across industry verticals

○        The industry’s most extensive library of 800+ pre-configured rules help business users jump-start their fraud defence and edit and apply rules in real time – without waiting weeks or months for their technical teams to implement them

●       Industry-leading Data and Intelligence

○        Backed by the largest and most comprehensive network of global data

○        Leverages industry-leading Al algorithms to automate the verification processes, remove bias and detect fraud faster and with greater accuracy

“Our customers trust us to safely and quickly move their money around the globe,” said Tom Mazzaferro, Western Union chief data & innovation officer. “Whether they want to transfer money via the Western Union app, or at our retail locations, Jumio helps us to minimize fraud, maintain eKYC compliance standards from a single platform and improve overall customer experience. We look forward to continuing our partnership with Jumio as we launch new products and services to serve the needs of our customers even better while improving their overall experience.”

“By putting business users at the centre of the verification process and providing them with a holistic view of incoming threats as they occur, Jumio allows organizations to bypass the standard set-up of disparate point solutions that slow down the ability to fight fraud and serve customers,” said Bala Kumar, Jumio chief product officer. “With Jumio, businesses save time and money while effectively defending against fraud at the speed of business.”

“The new innovations and scope of Jumio’s extended KYX Platform is proof of our unwavering commitment to eliminating digital fraud,” said Robert Prigge, Jumio CEO. “Jumio continues to lead the industry with solutions powered by AI, biometrics and other innovations that help organizations outpace tech-driven fraud advancements, which are expanding in terms of volume, origin and sophistication.”

Learn more about Jumio at Money20/20 USA:

Come visit Jumio at Money20/20 USA, booth #2103, where identity and fraud experts will demo the Jumio KYX Platform.

Underlining the momentum it has gained as an alternative to correspondent banking for cross-border payments, Banking Circle S.A. is forecasting a significant uplift in its payments flow for 2022.

Now serving over 250 financial institutions across the globe, in the first three quarters of 2022 the Luxembourg-licensed bank processed enough payments to imply €332bn in total annual run-rate payment volumes. Based on incoming volume processed and new market sizing in Worldpay’s 2022 Global Payments Report, this means it is settling more than 10% of Europe’s B2C e-commerce flow.

As it attends Money20/20 USA, the traction already achieved underlines Banking Circle’s value in helping US payments companies and FinTechs that want to expand beyond North America. Through the bank they can handle transactions in up to 25 currencies without facing prohibitive costs and with full regulatory compliance for each jurisdiction. Improving speed, payments can be handled as if local; there’s also the potential for additional FX or transfer costs to be eliminated.

“Led by our tech-first approach, Banking Circle S.A. is driving the evolution of global payments infrastructure which goes to the heart of financial inclusion”, explained Laust Bertelsen, Chief Executive Officer, Banking Circle S.A. “These latest numbers show the market appetite for our cutting edge, fast and cost-effective solutions, with in-built compliance. We’re providing a genuine alternative to traditional correspondent banking, removing many of the barriers to cross-border payments.”

“The global e-commerce market is growing rapidly and many US payments providers and FinTechs can see the opportunity to expand beyond North America”, added Jussi Lindberg, Chief Commercial Officer, Banking Circle S.A. “What they need is fast, fairly priced payments services, delivered by an established provider that can be easily integrated into their own platforms.”

AppTech Payments Corp. (AppTech), an innovative Fintech company powering seamless, omni-channel commerce between businesses and consumers, today unveiled its new product platform, Commerse while at Money20/20 USA, happening now through Wednesday, October 26 at The Venetian in Las Vegas.

This first-to-market, cloud-based Commerce Experiences-as-a-Service ("CXS") platform is backed by AppTech’s mobile commerce patents, core partner technology and other related internal intellectual property. CXS solutions incorporate PaaS, BaaS, Data, AI/ML, MarTech and other features to create flexible, rich, personalized payment and banking experiences for end users.

“AppTech’s mission is to deliver a better way for businesses to provide their customers with customizable commerce experiences. What differentiates Commerse and AppTech from others is our entire approach, from strategy and development to packaging and delivery of our CXS” said AppTech Payments Corp. Chief Executive Officer Luke D’Angelo.

According to Gartner, "Commerce experiences represent the programmed interactions between a marketer and the customer, beginning with awareness and continuing through purchase and post-purchase feedback. A commerce experience adaptively frames the buying journey, highlighted by layers of social interaction. By 2024, 15% of B2B organizations will use digital commerce platforms to support both customers and sales reps in all sales activities." And the market opportunities will only continue to expand from there which is why AppTech believes Commerse is perfectly positioned to capitalize on the growing trend.

“’ One Platform. All Commerce.’ is our tagline for Commerse because it seamlessly delivers digital banking, text-to-pay, crypto payments and merchant services altogether from a single, unified platform. Its suite of powerful omni-channel payment and digital banking solutions removes headaches and complexity from the process while enabling businesses to deliver feature-rich commerce experiences to their customers with minimal effort — along with greater efficiency and cost savings as well” said AppTech’s Chief Operating Officer Chad Nelley.

Leaders from AppTech and Commerse will attend Money20/20 to showcase the new platform. The team includes President Virgil Llapitan, Chief Technology Officer Ben Jenkins, Senior Vice President of Product & Experiences Bryan Guy, Director of Sales & Business Development Howard Fish and Chief of Staff Kaylei Wright. They are available for one-to-one meetings with media, investors and potential partners to present this new product. To schedule a meeting, contact Wright at kwright@apptechcorp.com.

Money20/20 is the world’s leading fintech show, bringing together the most innovative people in payments, fintech and the broader financial ecosystem. For more information about Money20/20, or to register to attend, visit https://www.money2020.com/.

Adyen, the global financial technology platform of choice for leading businesses, has broadened its offering by taking live two new embedded financial products - Capital and Accounts - which are now available to platform and marketplace businesses in the US and Europe via Adyen’s single integration. Research conducted in partnership with Boston Consulting Group finds that 64% of small and medium-sized businesses (SMBs) are interested in financial services embedded within a platform. To capitalize on this banking-as-a-service opportunity, Adyen has developed an innovative suite of financial products comprising cash advances, business bank accounts, and card issuing. Together with embedded payments, these power the future of financial services by enabling platforms to deliver superior financial experiences to their SMB users.

“Platforms are at the centre of a transforming financial services industry - and Adyen is primed to further drive this revolution,” said Adyen’s co-founder and CEO, Pieter van der Does. “Embedded finance is a logical next step following our embedded payments offering. By historically investing in our banking licenses and industry-leading technology, we have positioned ourselves as the sole provider offering a full embedded financial product suite via a single integration. From this vantage, we are excited to seize the opportunity that banking-as-a-service brings.”

Traditional financial services are stifled by legacy systems, reactive approaches, slow approvals, and a lack of vertical knowledge. These factors have long resulted in the under-serving of SMBs, and led to 65% of platform users being willing to switch financial services providers in favour of solutions better integrated into their business processes. With Adyen’s single integration, platforms can meet this growing user demand by embedding financial services to consolidate SMBs business and financial operations under one roof.

Adyen’s embedded financial product suite offers a modular solution that brings unparalleled control and customization options for the platform business. With 94% of SMBs interested in cash advance solutions stating they would benefit from their loans being pre-approved, Capital enables platforms to proactively offer business financing based on historic payments data. With 72% of SMBs valuing an integrated bank account experience, Adyen’s Accounts product allows users to run their finances where they do business and get instant access to funds. Going hand-in-hand with Capital and Accounts, Issuing completes the offering by enabling users to easily spend their funds on platform-branded payment cards. By adopting the suite, platforms can round out their offering and unlock the capabilities of an end-to-end financial ecosystem.

Mambu, the leading SaaS cloud banking platform, has announced general availability across three leading cloud providers Amazon Web Services (AWS), Google Cloud and Microsoft Azure, expanding its global market reach.

The fintech’s cloud approach allows complete flexibility for customers to meet ambitious expansion plans seamlessly, giving customers the choice to use the most secure, reliable and high-performance technology stack available. Mambu customers have a choice of provider based on their specific business, technical and regulatory requirements, located in the same or a different geographical region, without impacting availability or service levels. 

For decades, legacy technology solutions have been slow to implement but, now, using Mambu’s cloud banking platform, products can be pushed to market in weeks and over 95% of core banking transformations go live in months. Mambu’s composable platform provides components that can be selected and assembled in various combinations to satisfy specific user requirements. This empowers financial institutions to modernise their infrastructure, meet rapidly changing customer behaviours and expectations, and drive business growth. The development promises more customer choice, a secure foundation to meet financial security standards and high reliability for all three cloud providers.

Fernando Zandona, Chief Product and Technology Officer at Mambu, said: “We’re at a pivotal stage in our growth, and implementing this extended approach will allow us to continue providing the best service for our customers. Many technology providers rely on public cloud services; however, Mambu’s extended deployment flexibility meets the growing demands for performance, security and reliability.

Having the opportunity to work with three of the leading cloud providers supporting over 230 banks and non-bank financial institutions is a game changer. Financial institutions’ choice of cloud service provider is influenced by strategy, existing relationships, availability of services and hosting requirements. The general availability of these cloud providers on Mambu will help us continue to create better financial experiences for existing and new customers across the globe.”

The announcement follows a record $235 million Series E funding round for Mambu in December last year — the largest private fundraise for a cloud banking platform. As Mambu sets its sights on accelerating revenue growth, as well as continued investment in building a global, sustainable and differentiated platform for customers, Mambu has appointed four new senior hires. This includes Chief Revenue Officer, Werner Knoblich, Chief Financial Officer, Tripp Faix, Chief Product and Technology Officer, Fernando Zandona and Chief of Staff to the CEO, Sabrina Dar.