BFSI articles

PayPal to provide online payment services in China

PayPal to provide online payment services in China

With its acquisition of 70 percent of GoPay, a domestic payments provider in China, PayPal is all set to enter China’s payment services market which is currently dominated by Tencent WeChat Pay and Alibaba’s AliPay. Gopay Information Technology has received approval from China’s central bank to sell a 70% stake to PayPal. This makes PayPal

Money Mart Financial Services chooses 3i Infotech’s AMLOCK to strengthen its AML solutions strategy

This is a strategic win for AMLOCK as it expands its footprint in the US. Money Mart Financial Services, a leading financial services company in North America has selected AMLOCK, a financial crime detection and management solution from 3i Infotech, to strengthen its anti-money laundering (AML) solutions strategy. AMLOCK’s comprehensive tools will assist Money Mart

Cybersecurity is now investment priority for banks in the UK

Investment in cyber security is now an investment priority for nearly three quarters (70 per cent) banks in the United Kingdom, according to research from Lloyds Bank. The survey report says that cybercrimes have leapt to the fourth position from the eighth place since 2018. The research surveyed 100 senior decision-makers at financial organizations in

Banks Risk Losing US$280 Billion in Payments Revenue by 2025, study says

As much as 15% of banks’ global payments revenue, or US$280 billion, is likely be displaced by the growth of digital payments and competition from non-banks, as payments become more instant, invisible and free, according to a new report from Accenture. The report found that global payments revenue will likely grow at an annual rate

Blockchain Deployments Across Financial Services Ecosystems Are At Least Three Years Away

Blockchain Standards Are Highly Fragmented; No More Than Four Standards Will Dominate the Market Lack of interoperability standards will prevent pervasive blockchain deployment across financial services ecosystems for at least three years, according to Gartner. “Blockchain standards for financial services companies are currently fragmented and immature,” said Fabio Chesini, senior research director at Gartner. “We

Blockchain to Have Transformational Impact across Industries in Five to 10 Years

The 2019 Gartner, Inc. Hype Cycle for Blockchain Business shows that the business impact of blockchain will be transformational across most industries within five to 10 years. “Even though they are still uncertain of the impact blockchain will have on their businesses, 60% of CIOs in the Gartner 2019 CIO Agenda Survey said that they

YES BANK partners Microsoft to strengthen its AI powered banking solutions

The Bank’s chatbot, YES ROBOT, reinvigorated with Microsoft’s cognitive services YES BANK has partnered with Microsoft to strengthen its first of its kind, AI enabled chatbot, YES ROBOT, with advanced NLP engine LUIS (Language Understanding Intelligent Service) and other cognitive services, capable of understanding and resolving the evolving banking needs of customers without the need

Paytm Money elevates Pravin Jadhav as MD and CEO

Paytm Money, the wholly-owned subsidiary of One97 Communications Limited that operates Paytm, has elevated Pravin Jadhav as Managing Director and chief executive officer. “In last one year, under Pravin’s leadership, the team at Paytm Money has built an entire organisation, product, and business grounds up,” said Vijay Shekhar Sharma, Founder & CEO, Paytm. “As a

Tech Mahindra, Adjoint collaborate on blockchain solution for BFSI sector

Solution to create a seamless and reliable customer experience Tech Mahindra and Adjoint have announced industry’s first Blockchain solution for secure enterprise financial management and insurance services across locations to create a seamless and reliable customer experience. With this solution customers will be saving up to USD 4 million for every 1 billion of financial

Phishing Remain Top Threat To Organizations from Financial Services Sector

According to Akamai, 50% of all unique organizations impacted by observed phishing domains were from the financial services sector Newly released data from Akamai’s 2019 State of the Internet / Security Financial Services Attack Economy Report has found that 50% of all unique organizations impacted by observed phishing domains were from the financial services sector.