In 2022, we already saw the emergence of payment SaaS, the adoption of Blockchain Technology, and the evolution of Central Bank Digital Currency. We also saw new payment modes like Buy Now Pay Later, Biometric Authentication, and Biometric Payments and an increase in the use of AI and ML [...]
The European Collateral Management System (ECMS) is a harmonized and integrated system with the vision of organizing a single platform for collateral services across Europe through Target 2 Securities (T2S). T2S is a revolutionary security settlement platform that provides access to centralized infrastructure to entire market participants in the [...]
Buy now, pay later (BNPL) is a type of short-term financing provided to consumers to purchase instantly and pay at a future date. The process involves multiple players, such as consumers, financiers, and merchants. The financier carries out a soft credit check on the customer and returns a decision within seconds. Financiers [...]
A token is a value that goes securely through the network to process payments without exposing actual card data. Tokenization aims to replace or represent specific sensitive information without compromising its security. The 16-digit payment card account number is replaced with a unique digital identifier, or the “token,” for mobile [...]
Communications on electronic trading platforms are based on well-defined protocols. These protocols are in standardized format for the “Exchange of information” between the systems. Electronic Exchanges have completely different protocols that they presently expose as their E-Trading interface as below. FIX Order Flow – FIX (FIX4.2, FIX4.4 & FIX5.0) Native Order Flow [...]
What is ISO 20022? ISO 20022 is an international standard for exchanging electronic messages between banks and financial institutions. It gives the finance industry a common language and model for sending payment messages and exchanging payment data across the globe. ISO 20022 is an open global standard for financial information. It [...]
In the Banking, Financial Services, and Insurance (BFSI) industry, rising customer demand for innovative digital products and services necessitates a speedier application development process to provide rapid upgrades and a shorter time-to-market for new offers. To deal with this, banks require a new, simple, and safe application development technique [...]
It’s an understatement to say that we live in a very different world than a couple of years ago. The pandemic has brought about extraordinary changes in the way customers consume goods. From online shopping for essential goods and services, e-commerce businesses to doing financial transactions instantly, there has [...]
Legacy banking systems are decades behind as digital advancements continue to disrupt the sector. Cloud computing has long since crossed the line from experimental to mainstream. The next question is how quickly companies should adopt and convert to cloud computing. The developments in adjacent technology markets include Digitalization, where 28% [...]
UK’s Competition and Markets Authority (CMA), after a market study, issued a statement that the nine biggest banks (CMA9) allow authorized startups and third-party providers (TPPs) access to their data. The Open Banking Implementation Entity (OBIE) was created to help with this. OBIE’s mission is to collaborate with the UK’s top banks [...]
