Latest long reads: Finextra Research

How did UK open banking APIs perform from 2023 to 2024?

From June 2023 to July 2024, APIContext, in partnership with tomato pay, conducted approximately eight million API test calls across 29 UK banks to assess the quality of their open banking APIs. These APIs are essential for key digital services like payment processing and transfers, and their performance is regulated by the UK’s Financial Conduct ...

22 January 2025 /payments

Hamish Monk Senior Reporter at Finextra

How to use APIs

According to a global survey on application programming interfaces (APIs) by McKinsey, 81% of respondents said APIs are a priority for business and IT functions. “Large banks are launching API programs and allocating about 14% of their IT budget to APIs, on average,” claims the survey. So what exactly are APIs, and how should institutions be using...

21 January 2025 /payments

How AI is transforming financial services with metadata extraction

Perry Rotella Managing Director, Financial Services at Box

How AI is transforming financial services with metadata extraction

Throughout my career, I have witnessed several significant fintech advancements. However, none have been as groundbreaking as the current artificial intelligence (AI) revolution and its impact on managing unstructured data. This is much more than just another tech trend – it redefines how businesses handle information across financial services. Th...

21 January 2025 /ai

Data usability in model training: GenAI tools provide solutions

Sehrish Alikhan Reporter at Finextra

Data usability in model training: GenAI tools provide solutions

In the new digital age, data is currency. For technology, software processing, cloud computing, and everything beyond, data is essential. However, with the boom of new technology and the emergence of artificial intelligence (AI), the sheer amount of data available has become overwhelming. In the banking sector, companies need to be able to organis...

20 January 2025 /ai

Retired Member

Understanding the DORA deadline

This piece has been co-authored by Racheal Muldoon, partner, and Hasan Almosoy, associate, both in the financial services regulation and funds team at law firm Charles Russell Speechlys. Today is the deadline for fintech firms to ensure that existing measures sufficiently hold up to the new standards imposed by the EU's Digital Operational Resilien...

17 January 2025 /regulation

Financial services back in top 5 most flexible industries

Amanda Kavanagh Contributor at Jobbio

Financial services back in top 5 most flexible industries

As full five-day RTO mandates continue to make waves in companies like Amazon, Dell and AT&T, fresh headaches are also emerging. It turns out that rowing back on hybrid work has been complicated by a shortage of free desks, parking spaces, and even restricted capacity in lifts. As bullish dictums from CEOs highlight the importance of in-person ...

17 January 2025 /people

The future of fraud and how financial institutions can fight back

Natalie Kelly Chief Risk Officer at Visa

The future of fraud and how financial institutions can fight back

When we look at the financial services landscape, more has changed in the last five years than in the last 30, especially when it comes to financial fraud. In today’s digital, instant, cross-border world, financial crime has become a sophisticated enterprise. Recent figures from the BBC show that fraud cases have risen by 16%, with fraudsters steal...

16 January 2025 /payments

A new banking business model is emerging

Gary Fan Executive Vice President, COO at Royal Business Bank

A new banking business model is emerging

Banks have, in large part over the past few decades, continued to stay the same. Although there have been minor operational changes, there has not been a need to materially change. This slow and steady strategy worked, and banks continued to grow as the customer base demographics did not force fundamental changes to the business model. The banking...

15 January 2025 /predictions

Hamish Monk Senior Reporter at Finextra

How to comply with PSD3

In June 2023, the European Commission (EC) announced plans to update its Payment Services Directive, which was originally designed to drive integration across the payments market, level the playing field for payment service providers (PSPs) and enhance security across the value chain. The latest proposed changes will swap the existing second Paym...

14 January 2025 /regulation

Modern customers, modern payments: Addressing a changing e-commerce landscape

Dominique Dierks Senior Content Manager at Finextra

Modern customers, modern payments: Addressing a changing e-commerce landscape

In 2025, retail e-commerce revenue is expected to exceed $4.8 billion worldwide. Over the last five years, the world has shifted to digital: online shopping from retailers across borders is overtaking high-street shopping, and in the world of payments, contactless and BNPL (buy now, pay later) are increasingly catching up to traditional card or ca...

14 January 2025 /payments

5 fintech predictions for 2025: Let the good times roll

Arvin Abraham Partner at Goodwin Procter

5 fintech predictions for 2025: Let the good times roll

After a few choppy years, 2025 has the makings of a year of progress, bringing with it increased deal activity, regulatory clarity and technological innovation. Having survived the pandemic and interest rate shocks many investors who had been sitting on the sidelines are chomping at the bit to get back in action. Crypto is back in another bull mark...

13 January 2025 /predictions

Open banking year seven: Beyond the Data (Use and Access) Bill and National Payment Vision

Madhvi Sonia Head of Content at Finextra

Open banking year seven: Beyond the Data (Use and Access) Bill and National Payment Vision

13 January marks the seventh anniversary of PSD2 and the creation of open banking in the UK in conjunction with an order implemented by the Competition and Markets Authority (CMA) in 2018. According to Open Banking Limited (OBL), there are now over: 11.7 million active users of open banking-enabled products in the UK, 1.7 billion API calls made p...

13 January 2025 /payments

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