FIS | August 26, 2022
With real-time payments increasing, many countries must either modernize outdated payments infrastructure or build entirely new real-time payments networks to move money faster. In response, FIS® has launched its new central infrastructure payment solution, RealNet™ Central, to help central banks transform their markets to digital-first, real-time payment economies.
“The global economy has rapidly shifted toward digital-first mindsets and methods. While the idea of making payments in real-time may sound simple, the reality of delivering on that promise is enormously sophisticated, especially when doing so across borders, Our latest offering sets out to change that, bringing consumers, businesses, financial institutions and governments closer together in the payments ecosystem. The launch of this solution is the latest proof point of FIS’ commitment to invest in innovative technologies and solutions that advance how the world pays.”
- Aman Cheema, Head of Global Real-Time Payments and CBDCs at FIS
Currently, 72 percent of the world’s population has, or will soon have, access to instant payments, according to the 2022 Worldpay from FIS Global Payments Report. Many markets are also replacing or renovating their established real-time services, especially those that repurposed their corporate real-time gross settlement (RTGS) services to cater for instant payments, such as Brazil, United Kingdom, Japan, South Africa and Mexico. Similarly, India and the U.S. are introducing additional competing services that will sit alongside the established schemes.
As this shift occurs, RealNet™ Central will accelerate real-time payments adoption by connecting a country’s businesses, consumers, financial institutions and government entities to real-time networks, both domestically and internationally. FIS will also help central banks launch Central Bank Digital Currencies (CBDC). Through FIS’ CBDC Virtual Lab – created in collaboration with M10 Networks (M10) and its high-performance digital money platform – FIS will support countries’ efforts to integrate CBDCs into their economy.
The CBDC Virtual Lab allows central banks, commercial banks and other financial participants to experiment with and pilot core concepts of issuance, transfer, redemption, offline payments, programmable payments, retail, wholesale and cross-border payments. FIS’ CBDC Virtual Lab is enterprise-grade technology that supports over one million transactions per second at less than a second latency.
FIS has been shortlisted as a finalist on the G20 TechSprint 2022 CBDC challenge to build a prototype using the FIS Virtual Lab to demonstrate secure, resilient and effective CBDC issuance, redemption and transfer, whilst maintaining financial stability and integration with the existing payments landscape.
FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world’s economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index.
Alkami, ABNB Federal Credit Union and BioCatch | September 01, 2022
Alkami Technology, Inc., a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., today announced its client, ABNB Federal Credit Union, has launched the BioCatch solution via the Alkami Platform to protect members from fraud attacks and cybercrime with state-of-the-art fraud mitigation technology.
"The steady increase in mobile and online banking usage by our members over the past two years has led to a similar spike in fraudulent activities, The addition of BioCatch will help us further protect our members in real time from threats such as social engineering scams, account takeovers, fraudulent account opening and mule account detection,"
-Mick Vollmer, chief information officer of ABNB
A member of Alkami's Gold Partner Program, BioCatch monitors user behavior throughout the account lifecycle, at origination and continuously throughout each online session, to identify risk by analyzing actions such as mouse movements, typing cadence or interaction with the screen. Leveraging machine learning to produce a risk score, BioCatch identifies and alerts the financial institution to genuine or fraudulent behavior. The technology helps ensure account holders are provided with a secure and seamless digital experience all while reducing the financial institution's risk.
We believe that no financial institution should have to accept increased fraud risk in order to deliver a premium customer experience, and we observe that the most sophisticated fraud attacks do not discriminate based on size, stature or location. By leveraging our cutting-edge technology, ABNB can provide its members with a world-class online banking experience while protecting against the newest fraud attacks before funds are lost. BioCatch is committed to Alkami's gold standard in digital banking by enabling seamless user experiences through our fraud prevention techniques. We are pleased our partnership with Alkami is enabling more financial institutions to protect their most vulnerable clients and provide enhanced digital user experiences,said Gadi Mazor, chief executive officer of BioCatch.
Security and fraud prevention are top of mind for financial institutions across the country. ABNB is another Alkami client leading the way in their adoption of bleeding edge innovation to guard and protect their members, I am thrilled to see ABNB joining the community of Alkami clients working to proactively get ahead of these threats while also enhancing the user experience,added Stephen Bohanon, co-founder and chief strategy and product officer of Alkami.
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening and digital loan origination, multi-payment fraud prevention, and data analytics and engagement solutions.
About ABNB Federal Credit Union
ABNB is a full-service financial institution providing personal and business financial services to its members in Greater Hampton Roads, Virginia and Northeastern North Carolina. With fourteen branches and a nationwide network of credit union service centers and surcharge-free ATMs, ABNB currently serves nearly 78,000 members.
BioCatch is the leader in Behavioral Biometrics, technology that leverages machine learning to analyze an online user's physical and cognitive digital behavior to protect individuals online. Today, BioCatch counts over 25 of the top 100 global banks as customers who use BioCatch solutions to fight fraud, drive digital transformation and accelerate business growth. With over a decade of analyzing data, more than 80 registered patents, and unparalleled experience, BioCatch continues to innovate to solve tomorrow's problems.
Curinos | September 17, 2022
Curinos, a global data intelligence business serving global financial institutions across lending, deposits and digital banking solutions, today announced that it has placed 74th on the 2022 IDC FinTech Top 100 Rankings list for the second consecutive year.
The 19th annual IDC FinTech Rankings categorize and evaluate technology providers based on 2021 calendar year revenues from financial institutions (i.e., banking, insurance and/or capital markets) or directly to fintech solution providers for hardware, software and/or services. The Top 100 Rankings recognize vendors that derive more than one-third of revenue from the financial services and fintech industries. For additional information about the methodology and to view the complete list, visit here.
"We are honored that IDC Financial Insights has recognized Curinos on its IDC FinTech Top 100 Rankings list for the second year in a row, Our firm was built upon providing financial institutions high-quality solutions so they can understand performance drivers and capture sustainable growth. This distinction supports that mission as we continue to innovate with intelligent data, comparative analytics and optimization platforms for our clients."
-Craig Woodward, CEO at Curinos
Curinos serves hundreds of financial institutions worldwide, delivering the depth and breadth of intelligence across consumer and commercial deposits, omnichannel digital experience and lending markets needed to assess one's competitive position, and make more profitable, data-driven decisions, faster.
Curinos is the leading provider of data, technologies and insights that enable financial institutions to make better, and more profitable, data-driven decisions faster. Born out of the combination of two familiar industry powerhouses, Novantas and Informa's FBX business, Curinos brings to market a new level of industry expertise across deposits, lending and digital experience solutions and technologies. Through access to comprehensive datasets and analytics, intelligent technologies and connected behavioral insights, Curinos is the partner of choice to help you attract, retain and grow more profitable customer relationships.