Open banking

How Lending Enablement Solutions Improve Auto Lenders’ Financial and Portfolio Growth

[ad_1] The automotive lending industry is facing a unique convergence of challenges, including tightened lending conditions, reduced credit availability, and historically high vehicle prices. Despite these obstacles, emerging Lending Enablement Solutions are helping financial institutions expand their borrower base, increase loan volume, and improve return on assets (ROA) while mitigating risk. These solutions are providing

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Initial legal opinion on PSD3 and Payment Services Regulation

[ad_1] After much anticipation, the European Commission (EC) has published its proposed revisions to EU payment services legislation, as well as a proposal on Open Finance/data access in the financial services sector beyond Open Banking/payment accounts in the form of a new Open Finance framework called “FIDA”. PSD3: Modernising payment services The following article is

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Global banks to spend $57 billion on legacy payments technology

[ad_1] According to a new study by IDC Financial Insights, spending on legacy payments technology is rising rapidly and damaging the growth prospects of banks around the world. Global financial institution (FI) spend on outdated payment systems is expected to climb to $57.1 billion in 2028 from $36.7 billion in 2022, with an average annual

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EU Unveils Sweeping Reforms to Drive Growth in Fintechs

[ad_1] The European Commission has introduced reforms to the regulations governing the electronic payments sector, among them, mitigating fraud by enabling the payment service providers to share information. It comes at a time the fintech ecosystem is growing. Also included in the revised Payment Services Directive are the measures that would extend the refund rights

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A Q&A with the EC

[ad_1] Instant payments are a relatively new type of credit transfer responding to the needs of an increasingly digitalised society. They allow funds to be transferred in a matter of seconds, at any time, day or night, and any day of the year. Implementing regulation for Instant Payments Instant payments are used increasingly worldwide. They

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FundingShield Leverages Mastercard Open Banking to Expand Payment Verification Solutions

[ad_1] FundingShield, a market-leading, cloud-based firm providing fintech solutions to manage risk, compliance and fraud prevention, has entered a partnership with Mastercard to leverage its open banking platform delivered by Finicity, a Mastercard company. FundingShield provides live, source data-based technology products and SaaS solutions that have been used to secure the funds of over $2.5

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