The only way PSD2 will function effectively and securely, will be through the mobile banking application itself. However, the directive does not specify how secure this access will be, nor, what risks will arise, and for who.
These are interesting – and uncertain – times for global retail banking, from Trump's desire to remove Dodd Frank to Brexit and new British banking regulations.
Matching incoming payments with invoices has long been a frustration for companies with many valuable hours being spent trying to determine who’s paying for what. However, artificial intelligence (AI) and machine learning solutions are starting to emerge that claim they can combat these treasury headaches.
As 56% of global annual bank revenue is generated by corporates, it is little wonder that more than half of all the $78 billion invested in fintechs has been targeted towards corporate banking.
Tech-savvy banks and the new wave of disruptors will be the beneficiaries as banking undergoes a long-awaited transformation.
Both 2017 and 2018 have been predicted to be years that blockchain breaks through to the mainstream in fintech, but as of today businesses are still floundering when it comes to finding use cases for the innovative technology.
Bitcoin is moving out of the realms of the dark web and into the light as it becomes increasingly accepted in the mainstream, with the digital currency's value recently charging past the $4,400 barrier. It is time to reconsider bitcoin opportunities and risks.
Europe’s introduction of the General Data Protection Regulation (GDPR) next May will have implications for businesses around the world and US corporates should start getting ready if they haven’t already done so.
A poll by MarketInvoice also found that relatively few business leaders would consider speaking directly to a bank.
Despite all the automation and improvements that digital banking has the potential to achieve, customers and their needs still form the very core of the banking sector.