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What is ISO 20022 and how does it impact the payments industry?

What is ISO 20022 and how does it impact the payments industry?

ISO 20022 is an international standard for exchanging electronic information between financial institutions (FIs), covering trade, cards, payments, securities, and FX. Until recently, organisations used different ways to share this information, resulting in delays and inefficiencies. ISO 20022 is predicted to revolutionise the banking sector, and the increased ‘rich’ data transfer it enables is immensely attractive for FIs as it can enable stronger security and reduce transaction… Read more…

Buy Now, Pay Later – What’s all the fuss, and how do banks respond?

Buy Now, Pay Later – What’s all the fuss, and how do banks respond?

Square has just announced its intent to spend more than the average bank’s annual revenue on a BNPL provider, Afterpay. Is this a one-off, or a trend to be aware of? Buy Now, Pay Later (BNPL) as a payment method has been making headlines for several years now – and gaining attention from both proponents and… Read more…

The New Burning Platform for Banks

The New Burning Platform for Banks

How payments and commerce providers are taking on the last defences of incumbent banks Commentators have been predicting the disruption of core banking for many years now, but the scale of incumbents’ distribution and the strength of their engagement with customers have acted as high barriers of defence, limiting any assault on the lending and… Read more…

Switch to Issuer vs Switch to Acquirer

Switch to Issuer vs Switch to Acquirer

Welcome to the Pollinate’s ‘Fintech Deepdives’, a series of informative articles and blogs about some key issues in merchant payments. There’s a vast quantity of change happening right now. The global pandemic accelerated a switch to physically remote payments (both online and in-store); regulatory pressures to improve how merchants verify and authenticate the payment identity… Read more…

Sink or swim: What the profitability of neobanks means for incumbents

Sink or swim: What the profitability of neobanks means for incumbents

Traditional banks face a new dawn, in which they’re required to prove themselves as viable competition to more agile and innovative newcomers to the industry. Until recently, challenger banks such as Monzo and Revolut have faced criticism from more established players – and even the Bank of England. Despite enhanced customer service, faster decision-making, and… Read more…

Is the COVID-19 crisis the perfect catalyst for banks to change?

Is the COVID-19 crisis the perfect catalyst for banks to change?

The banking industry is one rife with competition. Not only are banks competing against their fellow incumbents, but they’re also at risk of losing chunks many of their revenue-generating products to new entrants. Banks, generally, aren’t known for their agility, but they do play a fundamental role in the modern economy, supporting businesses and consumers… Read more…

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