European leaders have long identified that the future of the financial services lies in the co-existence of the conventional banks with emerging fintech. However, to reach to that stage, security of the customer data is the major challenge. Despite industry efforts, fraudulent transaction levels are on the rise in Europe.
Payments Services Directive 2 (PSD2) introduces the concept of Strong Customer Authentication (SCA) to provide transaction security. However, this can put Payment Service Providers (PSP) in a Catch 22 situation by having them tread the thin line between transaction security and customer experience.
Let’s see how Risk Based Authentication (RBA) as mandated in the PSD2 guidelines can play the balancing act without compromising on security and ease of use.
Atom is an omni channel payments service provider providing payment processing as well as payment aggregation services across all the classes of merchants across all the channels viz. point of sale, internet, IVR as well as mobile. It was founded in 2006. It works with more than 100000 merchants processing over a billion dollars per month.
In our last feature, we spoke to a international payments (cross-border remittance) company. The thought was that a world without borders does exist, but so does an inadvertent exchange of skill and manpower. In this opinion article, Prajit Nanu shares with Fintech Asia the ideas that help him drive the business. Speed, trust, low fees, convenience – a number of such things influence the needs of the consumer.
Top 42 FinTech Companies in Australia INFOGRAPHIC – As lobbying to make fintech a priority for the Australian government continues, the fintech ecosystem in Australia has grown considerably in the past few years. About USD 675 million was invested in Australian fintech in 2016 according to a KPMG report. As per our research consumer and B2B lending remain the largest category of fintech, while payments comes second.
With a relatively less conservative regulatory environment, supported by government-led initiatives and deregulation, the innovation standards in the Japanese fintech ecosystem are much higher than the rest of the world. Bank of Japan even tested out blockchain technology to check for feasibility and viability last year as a way to understand the latest in technology.
While innovation around cryptocurrency is one of the most popular categories, the other categories of fintech are gaining ground. We look at the fintech market in Japan to identify the leading companies that are contributing to this growth.
Here’s the first comprehensive list of the top fintech companies in Japan by Fintech Asia.
As lobbying to make fintech a priority for the Australian government continues, the fintech ecosystem in Australia has grown considerably in the past few years. About USD 675 million was invested in Australian fintech in 2016 according to a KPMG report.
As per our research consumer and B2B lending remain the largest category of fintech, while payments comes second.
Here’s the first list of top fintech companies in Australia by Fintech Asia.
Jonathan Bill, originally from United Kingdom, has been in India for seven years now. He is completely absorbed in a fintech company he manages which caters to the two-wheeler market in India. Though they say India is a wild ride, Jon seems to quite a lot figured out. He shares his thoughts on the industry and market with Fintech Asia…
The two-wheeler is, in many cases a productivity asset for owners in India. Directly in the form of delivery jobs or indirectly in providing the means to get to and from work or cover more ground for self-employed small businesses.
Whilst around 60% of new bike sales are funded through borrowing both FinTech and traditional lenders have stayed away from the segment until recently.
FinTech start-ups have been focused on online distribution and catering to more sophisticated and online addressable borrowers or lending to businesses.