GrailPay’s Post

#ICYMI - We announced our official partnership with GrailPay yesterday. This collaboration will simplify complex payment flows and empower businesses with the next generation of faster, digital payments. Want to learn more? Check out the full press release here 👇 https://lnkd.in/gmuGN6wZ #partnership #B2Bpayments #fintech #finance #CFO #ePayments

Open Banking platform Tink has launched Risk Signals, a rules-based #risk engine that unlocks #payment experiences across Europe while minimising risk. Read more here 👉 https://bit.ly/3vN4KBR #Tink #riskmanagement #OpenBanking #productlaunch #checkout #paymentmethod #ThePaypers

Streamlined #KYC processes are vital for digital banks and neobanks to thrive. Discover more on client onboarding in our latest article. 🚀 Read more: https://lnkd.in/diM94rGD #ProfileSoftware #DigitalBanking #ClientOnboarding

Streamlined #KYC processes are vital for digital banks and neobanks to thrive. Discover more on client onboarding in our latest article. 🚀 Read more: https://lnkd.in/diM94rGD #ProfileSoftware #DigitalBanking #ClientOnboarding

A 2023 Poneman Institute report listed the average cost of #banking compliance breakdowns: • Business interruption (from enforcement actions): $5 million • Revenue drop: $4 million • Productivity loss: $3.7 million • Fines: Up to $2 million This $12 million dollar hit is WAY more costly than the amount needed to establish a #compliance program. By more than 2.5x! In our newest article, we explore the use of real-time #data as a tool to mitigate #CX compliance risk in #banking ecosystems, where partners engage with customers. 👇🏼 https://bit.ly/4bteXTP #banks #financialservices #CXM #customerexperience #fintech @OvationCXM

Full transparency in banking data and the right tools to perform compliance & payment operations workflows are foundational to successful BaaS partnerships 🤝 In this excerpt of our new guide, Enhancing Sponsor Bank Compliance, we highlight how specific components of the Synctera Platform, including Cases, Insights, Reconciliation, and Disputes, provide sponsor banks with: - Complete data visibility 🔍 - Unified communications and key workflows 📣 - Streamlined payment and compliance operations 🔁 Read the excerpt and download the full guide in the link below 🔗👇 https://lnkd.in/e4d87vPh

🚀 Why seamless IT asset onboarding is crucial for banks in 2024? checkout this blog and explore the challenges, steps, and benefits to stay ahead. Perfect for IT and banking pros! #Banking #ITOnboarding #DigitalTransformation #Efficiency

How Can U.S. Banking Grow Instant Payments Faster? ISO 20022 protocol will eliminate a lot of bank fraud by allowing banks to have a real-time communications regarding the payee and payer account holders before executing a financial transaction. This will prevent a high percentage of bank fraud and provide statics that will help banks fine tune their risk processes and policy on a daily basis. This news article by Steve Cocheo discusses the challenges in deploying ISO 20022. The upside is higher profits and lower fraud losses. https://lnkd.in/dhqJmmBB

10x Banking and Alloy Partner to Bring Cloud-Native Risk Decisioning to Financial Services Matt Mills, Chief Revenue Officer at 10x Banking, said, “Our collaboration with Alloy represents a significant step forward in the modernization of risk decisioning. Alloy’s cloud-native approach to identity risk management complements 10x Banking’s cloud-native core banking platform, creating a modern, versatile credit decisioning tool for banks and fintechs seeking to transform their loan origination processes. This partnership, with 10x’s unique meta core approach, enables us to continue our mission to revolutionize banking for the benefit of financial institutions, their customers, and society.” https://lnkd.in/eU28BqsT Cat Lenheim Okan Ozaltin Frederico Venturieri Arianne Rosmolen-Dickinson Keith Kettell Kylee Sibilia Kathryn Cook Parilee Edison Wang #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Sthaaz The landscape of banking is rapidly evolving, with core banking systems at the heart of the industry, traditionally acting like the general ledger. Looking ahead, the banking sector is poised for significant transformations aimed at streamlining operations and enhancing efficiencies through a simplistic approach. Centralization of KYC Processes A pivotal shift expected in the near future is the centralization of Know Your Customer (KYC) processes. Historically, KYC has been a cumbersome and repetitive task, with each financial institution conducting its own verifications independently. The emergence of a centralized KYC system will revolutionize this by storing and verifying customer information in a single, central database. This shift will streamline procedures, eliminate redundant efforts, and accelerate the overall process, thereby enhancing efficiency. Creation of a Dedicated Hub for Payments and Settlements Further innovations include the establishment of a specialized hub dedicated to managing payments and settlements. This centralized hub will oversee all transactional processes, ensuring quicker processing times and minimizing the potential for errors. Additionally, it will offer a clearer and more transparent overview of transactions, allowing banks better oversight and management of their financial flows. Expansion of Remote Access Channels The banking sector is also set to expand its offering of remote access alternatives through separate servers. These distant channels will provide diverse access points to banking services, including mobile banking, internet banking, and even banking via social DELIVERY platforms. This strategy ensures that banking services are more accessible to customers, irrespective of their location or the device they utilize, enhancing convenience and reach. Promoting a Simplified Banking Experience These advancements are all directed towards creating a more simplified banking environment. Simplification of banking processes not only boosts customer satisfaction and loyalty by making services more accessible but also allows banks to maintain and manage their systems more effectively, potentially reducing operational costs. In conclusion, the evolution of core banking systems is set to transform the banking experience into one that is more efficient, customer-centric, and technologically equipped. With centralized KYC processes, dedicated payment hubs, and expanded access channels, the future promises a streamlined, cost-effective, and user-friendly banking environment. https://lnkd.in/dPn2di-m