Alena Grishcheva

Brite Payments Launches Instant Payments in Germany to Further Boost European Coverage “We now offer a complete solution to the German market – covering Instant Payments in addition to Instant Payouts – and can serve the needs of even more merchants and businesses,” said Lena Hackelöer, Founder & CEO, Brite Payments. “2024 is the year that A2A payments, or Pay by Bank, looks set to enter mainstream consciousness, and as the EU’s most populous country and the third-largest economy in the world, Germany represents enormous untapped potential.” https://lnkd.in/eUjZNdwa #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Swift Research Finds European SMEs Expect to Be More Competitive and Save Money as a Result of Instant Payments Regulation Marianne Demarchi, Chief Executive, EMEA, at Swift, said: “The European regulation has the potential to be a landmark development for the cross-border payments industry, but financial institutions are under pressure to comply with the Verification of Payee element by the October 2025 deadline. Swift is ideally-placed at the heart of the industry to facilitate interoperability of VoP schemes, simplifying the compliance process for our community and giving users of cross-border payments peace of mind when sending money not just across borders within Europe, but also beyond.” https://lnkd.in/e9QEurFf #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Fintech N26 announced that BaFin was supposed to lift the growth restriction on June 1, 2024. The cap was originally set in 2021 at 50k new customers per month, it was then slightly increased to 60k customers per month. As part of the conclusion of this oversight period, BaFin fined N26 €9.2 million (around $10 million at today’s exchange rate) for shortcomings in reporting suspicious activity that occurred in 2022. https://lnkd.in/ensUbnVt Too many startups want to grow at a rapid pace by focusing on KYC and onboarding only and underestimating the importance of a strong monitoring and reporting process......... it’s better to be safe than sorry. #moneylaundering #financialcrime

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N26 Welcomes Complete BaFin Growth Restriction Lift From 1 June 2024 Valentin Stalf, CEO of N26: “We are pleased about the trust of our regulators and will continue our close exchange in the future. In recent years, we have been able to make significant progress in preventing and combating money laundering and financial crime.” https://lnkd.in/e9_MtJjJ Maximilian Tayenthal #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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🏦 We have developed an SDK for Bank Payment Module    The customer is Raiffeisenbank, one of the major banks.   ✅ Task: To develop an SBP payment module to be integrated into the mobile apps of Raiffeisenbank partners with the bank’s logo.   ✅ What we did:   • Preferred banks The module keeps track of up to four frequently used banks and offers them first.   • Default bank The user may click ‘Open Default Bank’ button to use the selected default bank for the transaction.   • Bank search The user can enter the name of the bank in the search bar to find the required one faster.   👉 Read more about the development on our website https://lnkd.in/djdDCAfB.

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Breaking news from Germany: N26 announces that the new customer limit imposed by Bafin has finally been lifted! #N26, the German #fintech founded in 2013, has announced that restrictions imposed by the German financial watchdog BaFin on its customer growth will be lifted on June 1, 2024. This cap had limited N26 to 60,000 new customers per month since 2021 due to concerns over money laundering controls. The neo-bank, which serves approximately eight million clients across 24 countries, faced these restrictions after BaFin raised concerns about the bank's efforts in promptly reporting suspicious activities related to money laundering. This situation also led to a multi-million-euro fine and increased oversight from BaFin. Earlier this month, N26 was penalized €9.2 million for shortcomings in its anti-money laundering measures identified in 2022, adding to an initial fine of €4.25 million in 2021. CEO Valentin Stalf emphasized that N26 has made significant strides in enhancing its anti-money laundering and financial crime prevention measures. The bank has invested €100 million in compliance, infrastructure, and team expansion since late 2021. Stalf reaffirmed N26’s commitment to maintaining a "close exchange" with regulators to ensure continued progress in these areas. The lifting of the customer growth cap marks a critical turning point for N26, allowing it to resume its rapid expansion and continue its mission to revolutionize online banking. With this newfound regulatory flexibility, N26 is poised to grow its customer base more aggressively and strengthen its position as a leading digital bank in Europe. The article on #RTE on the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

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How does PayLead ensure eligible transactions are rewarded just once, despite the possibility of subscribed bank clients sharing transactions with our fintech partners also offering cashback? 🤔 Go beneath the surface of our platform and understand how Pierre-Louis DANIEAU and the data team developed a solution to avoid this scenario 👇

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Fabrick Publishes Report on Embedded Finance Trends in Europe Reflecting on the findings, Paolo Zaccardi, CEO of Fabrick, noted: “We are pleased to see strong market validation for our focus on End-to-End payment solutions. We strive to become a reference point for innovation at a pan-European level, meeting current demands and anticipating future needs in the Embedded Finance sector. This research confirms the industry’s shift towards integrated financial services. The trajectory of Fabrick’s journey shows that Embedded Finance in B2B projects effectively addresses players’ needs in managing payment flows and for invoice reconciliation. As such, we have concluded that embedded finance enables companies in any sector to integrate financial solutions via APIs, allowing them to offer payment, banking, and insurance services without the need for proprietary financial infrastructure.” https://lnkd.in/eCHM_mZZ #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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🌍 Find out why having the radicant debit card can make a big financial difference when shopping abroad - online and in-store. Read more here (German only): https://lnkd.in/dnpkeuej #DigitalPayments #Banking #Finance #Debitkarte

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Money20/20 Europe Speakers Unveiled Under ‘Human X Machine’ Show Theme Scarlett Sieber, Money20/20’s Chief Strategy & Growth Officer, emphasised the significance of this year’s theme, saying, “I’m delighted to welcome such esteemed powerhouses in the world of finance to what promises to be our biggest and most impactful show in Europe yet. As I will discuss with Former French President François Hollande in our fireside chat, Human X Machine encapsulates the essence of our rapidly evolving financial landscape and underscores the critical intersection of human ingenuity and artificial intelligence in shaping our financial future. The power of the Money20/20 platform is that the collective ecosystem of money at the most senior level comes together to have active discussions on the most important topics, breaking news, and work together to pave the way for a more resilient and inclusive financial ecosystem.” https://lnkd.in/etkY4cwa Pav Gill #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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I generally do not comment news, but this is quite interesting. Hopefully BaFin lifting N26 growth restrictions it is a sign of the adaptation of existing regulatory framework to digital banking #digitalbanking #n26 #AML #regulatorycompliance https://lnkd.in/dT6Qkd3h

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Salt Bank is LIVE on the Engine by Starling core banking platform! 🚀 🇷🇴 📲 This is the FIRST TIME Starling’s Engine platform has been deployed beyond the UK, and enables Salt to disrupt the banking sector in Romania. 🤯 🏦 By partnering with Engine, Salt was able to build AND launch the bank in under 12 months and has ALREADY onboarded 100,000 Romanian customers 👨‍💻 Sam Everington, CEO of Engine by Starling, adds: “The Engine platform was built to power Starling Bank in the UK, which supports more than four million retail and small business accounts. Our work with Salt Bank shows just what our platform is capable of; Starling’s feature rich and highly personalisable banking products can be deployed around the world to attract impressive customer volumes, while our operational experience and cloud-expertise can help build, launch and run a bank in less than 12 months.” Find out more on the link below! 👇 https://lnkd.in/eT8Y6bZe Gabriela Cristina Nistor #starlingbank #bankingapp #saltbank #corebanking #bankingplatform #fintech #digitalbank #neobank #banking #fintechnews

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SCT Inst scheme will become mandatory. Learn about the implementation miletones in this new video.

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Solaris SE Publishes 2023 Sustainability Report Ansgar Finken, CRO, Solaris SE said: “Solaris’s footprint is a complex combination of environmental, social and governance considerations. While we have established a journey to achieving a net zero footprint by 2030, evolving the social and governance aspects are equally as important for our business. We have a laser focus on fostering a diverse and open culture with positive people management, combined with strengthening governance to be the trusted embedded finance provider for our partners and their customers.” https://lnkd.in/eVebxqJe #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Austria's payment landscape is a fascinating mix between tradition and innovation. While cash remains a familiar partner, digital solutions are coming in with increasing popularity. Let's delve into some key insights and statistics that paint a vivid picture. • Acceptance of PayPal When it comes to online purchases, Austrians overwhelmingly choose PayPal. 80% of the population rely on this trusted platform for online transactions (Global Payments Report 2024 | Worldpay)​​. • E-commerce boom and the digital wallet takeover The world of e-commerce in Austria is flourishing, and digital wallets are leading the charge. In 2023, these digital marvels accounted for a staggering 30% of e-commerce transaction value, with projections estimating a rise to 40% by 2027 (Global Payments Report 2024 | Worldpay)​​. • Cash still has a role While use of cash is declining, it still holds a significant 20% share in transaction value (Global Payments Report 2024 | Worldpay)​​. However, this figure is expected to decrease further as digital solutions continue to gain traction. • Card transactions: Austrians are reaching for their debit cards more frequently. The total number of debit card transactions has been steadily climbing, reflecting a growing preference for cashless convenience. Major card networks like Visa and Mastercard are strong players in this arena. Austria's payment landscape is a dynamic mix of established methods and emerging technologies. It embodies the European trend towards increased digitalization and a desire for seamless financial transactions. Want to implement payments on the Austrian market fast and secure? Count on Spoynt.

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Payments and privacy go hand in hand so it was great to speak to one of the leading names in online privacy, Nord Security. In this episode of the Pay It Forward podcast with payabl. we spoke to Kestas Saulis from Nord Security to hear about the growing scale of payment fraud and the use of VPNs for protecting the customer. Speaking to us from the payabl. booth at MPE 2024, Saulis also covers trends in the payments industry, such as ongoing research into Central Bank Digital Currencies (CBDCs) and Nord's commitment to enhancing payment security. https://lnkd.in/eWEXmNT7 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Wise Partners with Qonto to Smooth Out Cross-Border Transactions Qonto, the leading European business finance solution, has partnered with Wise Platform to offer fast, transparent and low-cost international payment services to over 500,000 SMEs and freelancers across Europe. Qonto is on a mission to simplify the day-to-day banking experience for European SMEs and freelancers. With the world being more connected than ever, smooth international payments are key for businesses to grow. But let’s face it, cross-border payments can still be a real headache - complex, slow, and expensive enough to keep many SMEs and freelancers from going global. That’s where Qonto’s partnership with Wise Platform comes in. By integrating Wise Platform’s cutting-edge infrastructure into their existing platform, Qonto is upgrading their customers’ cross-border payment experience to be faster and have increased global coverage. In addition to leveraging Wise Platform to receive funds from abroad, Qonto’s customers can now send money to 24 currencies across 130 countries in just seconds.* They will also benefit from: An improved customer experience with more visibility on their payments with accurate payments tracking; Improved transparency along with competitive fees and no hidden fees or mark-ups on exchange rates - Wise uses the mid-market exchange rate. Steve Naudé, Global Managing Director of Wise Platform, commented: “We're thrilled with this new step in our collaboration with Qonto to deliver a seamless international payment experience to SMEs and freelancers across Europe. In addition to leveraging Wise Platform to receive funds from abroad, Qonto’s customers can now benefit from the best in class experience to pay their partners all over the world and fulfil their international ambitions”. Philippine Rougevin-Baville, Managing Director France at Qonto, said:“Our mission is to make business finance management effortless for European SMEs and freelancers. With the integration with Wise Platform and the upcoming launch of SDD collection, we’re significantly improving our existing payment offer for our customers. We're now able to better support our existing customers by offering faster, more transparent transactions as well as fair pricing and timely payments with their international business partners. Additionally, this partnership allows Qonto to welcome new customers, enabling them to utilise our daily business banking services across multiple markets and currencies.” Subscribe for more insights https://lnkd.in/d94JgWBU #spendmanagement #crossborderpayments #fintech

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