Tag: FinTech
China and US generate 65% of Digital Payments
As the largest revenue source of the global Fintech market, digital payments are set to reach $4.4trn transaction value this year, a 5% drop compared to pre-COVID-19 figures. According to data gathered by BuyShares.co.nz, China, and the United States, as the world's two largest digital payments industries, are expected to generate 65% of that value. Transaction…
PayPal fined £250,000 over iZettle deal
Online payments giant PayPal has been fined £250,000 by Britain’s competition watchdog for failing to keep it and iZettle separate in the UK while an investigation was carried out into their merger. US-based PayPal had already bought Sweden’s iZettle in September 2018 for $2.2 billion (£1.7 billion), but the Competition and Markets Authority (CMA) put…
NatWest trials voice banking with Google Assistant
Banking on your voice could become the new way to check accounts if a NatWest trial using the Google Assistant proves to be on the money. The bank is launching a trial using the voice-powered virtual helper, allowing customers to ask the Google Home smart speaker for details such as their bank balance or recent…
Over a third of people ‘would prefer fast response from chatbot about finances’
More than third of financial services customers would prefer an instant response from a chatbot to waiting to speak to a human, a survey suggests. Some 35% would prefer an immediate response from a chatbot computer programme, which uses artificial intelligence (AI) to mimic conversation, rather than waiting for a person to respond to their…
How employers are using tech to build workforce communities
If you have recently started competing in the UK job market, you can't have failed to notice how various cities around the country have flourished - largely on the back of tech revolutions left, right and centre. These developments are boding well for local communities, too. As the World Economic Forum has pointed out, technology…
Santander introduces Phone ID and Voice ID for telephone banking customers
Santander customers will no longer need to remember and key in security numbers when accessing telephone banking, as the bank introduces voice and phone recognition technology. Telephone banking customers will be offered the option of verifying their identity through technology which will recognise their voice and where they are calling from. Santander is doing a…
HSBC’s voice recognition technology has saved bank £300 million in fraud
Technology which enables HSBC customers to access bank accounts using their voice as a password has prevented over £300 million falling into the hands of fraudsters since it launched in the UK, claims the bank. More than 1.6 million HSBC customers across the UK now use VoiceID, which launched in 2016. HSBC said attempted frauds…
3 of the Leading FinTech Trends in the UK
In the UK, the FinTech industry is continuing to grow. In fact, it seems there is little that can slow down the British financial technology businesses, not even Brexit. During the first half of 2017, FinTech startups in the UK received a record £433 million from investors, representing a 37% increase from the same period…
