Banking & Payments DECODED
Latest edition: 17 May 2024
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Latest news
What retail can teach financial services about improving customer interaction
Matt Ryan explores what financial institutions can learn from the retail sector to enhance customer engagement.
Half of young people left frustrated after finding their local branch has closed, says Nationwide
Half of people aged 16-24 have been left frustrated after finding their local branch closed when they needed it. The claim is made by Nationwide, the UK’s largest building society.
Card payments in Hong Kong to grow by 12.2% in 2024, forecasts GlobalData
The Hong Kong card payments market is forecast to grow by 12.2% to reach HKD1.3trn ($168.1bn) in 2024, supported by a constant consumer shift towards non-cash payments, according to GlobalData, publishers of EPI.
TD launches new generative AI pilots to help empower colleagues
TD Bank Group has announced two pilots to support more streamlined customer experiences in its contact centres and accelerate the coding workflow for its engineers.
Financial services giants withdraw job offers to international students, more will follow - immigration lawyers Fragomen
Banking and financial services giants Deloitte, KPMG and HSBC have reportedly withdrawn job offers to international students, blaming changes to skilled worker salary thresholds. This follows the government’s decision to increase the minimum salary thresholds for skilled worker visas. They are not the first and will not be the last, says international immigration law firm Fragomen, which advises businesses on global mobility.
Mastercard and Salesforce partner to transform transaction disputes
Mastercard and Salesforce have agreed a new integration to enhance trust across the ecosystem. The collaboration is designed to help customers speed up transaction disputes and reduce costs associated with resolving them.
BVNK enables PayPal USD
BVNK has announced that it has integrated the stablecoin PayPal USD (PYUSD). Paxos Trust Company is the sole issuer of PYUSD.
Experts worry AI will make chargeback fraud easier
The current interest in generative artificial intelligence causes some to conclude we may see a new wave of AI-enabled fraud. However, the payments industry shouldn’t overestimate the abilities of large language models (LLM). Or underestimate the power of existing anti-fraud systems, says chargeback technology platform, Chargebacks911.
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