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Infrastructure Value Chain

03.13.17

Servion: FIs Must Bank on Latest AI for Customer Service

Banks that aren’t proactive in adopting the latest artificial intelligence technology for customer service risk losing those customers. That’s because many online-only banks and others are investing in automated assistants that improve customer interactions by predicting why customers are contacting the bank and resolving the issue quickly.

01.24.17

U.K. Post Offices Become De Facto Bank Branches

The U.K.’s Post Office, which has a long history of providing financial services, including prepaid cards, has entered the banking market in a new way with an industry-wide agreement with the nation’s banks going into effect today. From Jan. 24, 99 percent of U.K. personal bank customers and more than 75 percent of business customers can do their day-to-day banking at the Post Office—described as the “biggest expansion in face-to-face banking access in a generation.”

01.23.17

Starling Bank First Digital Challenger to Join Faster Payments

U.K.-based Starling Bank has become the “first of the digital-only challengers” to join Faster Payments this week. The 13th direct participant of the Faster Payments Scheme, Starling says its customers will be able to see where their money is flowing and when in real-time, 24/7.

07.21.16

Mastercard Makes Big U.K. Play with $1.1 Billion VocaLink Investment

Mastercard is set to gain control of a major chunk of the U.K. transaction processing market, entering a definitive agreement to acquire 92.4 percent of VocaLink in a deal that could total up to $1.14 billion. A bank-owned consortium, VocaLink’s technology underpins the British direct debit and credit payments system, as well as the LINK ATM network and the Faster Payments Scheme for real-time mobile and Internet payments.

06.21.16

Seamless and Secure: Navigating the Future of Commerce

Two large-scale trends are coming to a head with merchants at the crux: the digitization of payments and increasing card-not-present fraud. Merchants need the right tools, including data analytics and fraud-prevention systems, to help them meet customer demand for a frictionless experience, while keeping fraudsters at bay.

06.14.16

Visa Trumpets Success of Gas Station Anti-Fraud Technology

Gasoline sellers that use a Visa fraud-reduction tool have experienced significant declines in chargebacks and other fraud metrics, the payments network said today. On average, gas stations that use the service experienced a 54 percent decline in counterfeit fraud rates and a 51 percent decline in lost and stolen fraud chargeback rates.

05.02.16

The Buzz: Pioneers, Award Winners and More

See what’s hot on Paybefore.com from last week, including features from our Spring issue of Pay Magazine, conference news and recaps, and more.

04.21.16

Viewpoint: Fintech: The Great Equalizer

We’re bombarded daily with reports that fintech firms are poised to eat the banks’ lunch. The drumbeat is so loud and steady, it’s hard not to fall into the trap of thinking that banks’ best days are behind them. But, I believe the proliferation of fintech solutions presents a remarkable opportunity for small and midsize financial institutions.

04.18.16

New Zealand Banks on Faster Payments with SIA

The country’s central bank hires Italy’s SIA to set up a real-time gross settlement system. The move represents the lastest development in the global effort to implement faster payment systems.

02.08.16

Visa Aims to Boost Commerce Products with Outside Developer Help

Visa wants to strengthen its commerce offerings by opening up its technology treasure chest to software developers bent on improving consumer experiences. The payment network has launched Visa Developer, an “open platform that gives application developers access to Visa’s payments technology, products and services.”