Financial institutions stories

Web and API assaults in APJ's financial sector jumped 36%, with Australia, Singapore, and Japan most targeted.

Visa and Currencycloud have launched Visa Cross-Border Solutions, delivering cross-border money movement solutions for payment institutions. 

Mambu is now available on Google Cloud Marketplace, enabling more financial institutions to migrate their legacy core banking systems to the cloud.

IDC has released new research showing that the current geopolitical situation is driving Europe's increased security spend.

The majority of corporations and financial institutions are frustrated with their payment failure rate, according to a new report. 

To get a sense of how APAC’s payment paradigm is shifting, Currencycloud explores three interesting trends that would impact the movement of money in 2023 and beyond.

According to new research, web scraping is seen as the most valuable external data collection method, directly connected to company revenue generation.

BPC and Kapronasia's new report finds cashless transactions in APAC will rise by 109% from 2020 to 2025, while global cashless payments will triple by 2030.

VMware's most recent report finds 74% of businesses experienced one or more ransomware attacks in the last year, with 63% deciding to pay the ransom.

DiUS has announced it has entered a definitive agreement to sell its global contract-testing collaboration platform, Pactflow, to SmartBear.

Personetics has raised $85 million in growth funding from Thoma Bravo, a software investment firm, doubling the company's valuation and securing a total funding of more than $160 million in 2021.

FIs across APAC are continuing to grapple with financial crime management strategy and investment to take full ownership and build in-house systems, buy a solution, or utilise managed services from a solution provider.

Applying technology allows banks to anticipate their customer needs, create value and exceed customer expectations.

There has been a increase in sophisticated cross-border cyber criminal campaigns against the financial sector and its supply chain.

Entrust, a company specialising in trusted identity, payments and data protection, has announced a definitive agreement to acquire Antelop Solutions.

SEON’s technology is fully integrated into the GBG Intelligence Center to effectively use email, IP, phone, and social media as alternative data for fraud detection, while meeting compliance and data privacy needs.

"FiVerity's Cyber Fraud Network was created to solve problems and give financial institutions the tools they need to share information without violating their customers' privacy.”

Financial institutions across the APAC region are working to become more ingrained in the financial decisions of their customers, primarily through the development of digital financial wellness and money management apps.

“Trade compliance is a critical function where mistakes can cost businesses millions. An area where the smallest omission can throw off the entire strategy of a business is no place to take a chance."

Allvue Systems has chosen Snowflake to offer a centralised data cloud, with the overarching aim of enhancing and simplifying client's data storage and processing capabilities across business lines and asset classes.

Snowflake has been selected by merchant payment platform mx51 to support its analytics and customer service.

“Leveraging automation to build apps more cost-effectively and more quickly helps accelerate business processes, improves the customer experience, and makes the entire organisation much more efficient."

"The demand for these types of solutions is continuously growing, and we are delighted to add Envestnet | Yodlee to our list of partners and to bring these solutions to life across Australia and New Zealand.”

Global spending on financial crime compliance at financial institutions is forecast to reach US$213.9 billion in 2021.