Kony Webinar 2016 Retail Banking Trends and Predictions

The federal government is one of the largest single users of the ACH network, but did you know that they don’t follow the same NACHA Operating Rules as a typical Originator? IRS tax refunds must be handled with care. The average IRS tax refund is almost $3,000 and every financial institution receives them. With such high volume, it is imperative that financial institutions understand the requirements surrounding tax refunds to avoid potentially large losses.

Crypto businesses have matured over the past few years, further integrating into the global financial system and creating direct and indirect links to banks and financial institutions. These crypto-links pose risks and opportunities to banks, as well as new compliance challenges for financial institutions.

The COVID-19 pandemic has dramatically accelerated change in the payments industry. Digital payments have soared as the world has worked and played from home. Innovation has ramped up as the payments industry has raced to meet demand and develop new products and services. And organisations’ resilience has come under greater stress as they scramble to meet their payments obligations while mitigating risks such as cyber threats. New research from FIS suggests that as businesses look to focus on recovery from the pandemic, there is widespread acceptance that now is the time to invest in new payments innovations and upgrade capabilities. In particular, real-time payments are at an inflection point. Demand from customers and suppliers is growing, and providers are now overcoming their previous challenges of fragmentation and technology blockages. As the real-time payments model matures, it looks set to be at the heart of the next stage of payments innovation.

WSO2 Open Banking has undergone several feature enhancements over the past couple of months. Many of them focus on the Open Banking UK API standard v3.1. This session will take you through the feature enhancements and discuss what lies ahead for WSO2 Open Banking.