New Legislation Targets APP Fraud Directly.

What we’ll cover today:

🔍 Enhancing Fraud Prevention Measures.

💼 Seamus Smith: Mastering Money's Future.

🎤 A Senior Director in FinTech Asked...

🔗 The Event Roundup.

Enhancing Fraud Prevention Measures.

The Payment Systems Regulator (PSR) introduced a groundbreaking law on October 7 to target authorised push payment (APP) fraud.

Key Aspects of the New Legislation:

• Mandate for Banks and FinTechs: They must enhance their fraud prevention strategies.

• Technology Upgrade: Financial institutions are urged to adopt advanced technology for better security.

Challenges and Needs:

• Recovery of Stolen Funds: The legislation does not specify how to recover stolen funds, necessitating clearer guidelines and stronger interbank cooperation.

Conclusion: Will this new legislation effectively deter fraudsters, or will it simply present new challenges?

Here’s the whole article

1. Seamus Smith: Mastering Money's Future.

In this interview, Seamus Smith, the leader at FIS, shares his insights on the future of finance. 

He talks about automation's role in reshaping financial services, what’s next for FIS, and his goals for making finance smarter and more accessible.

Here’s The Article

2. A Senior Director in FinTech Asked...

This thread is from Ethan Evans.

With over 19K followers on Twitter, Ethan is a retired Amazon VP and trains leaders to become true executives.

In his recent thread, he shares: “A Senior Director in FinTech asked: “How can you compassionately manage the process of firing someone who just isn’t a fit for the role?”

Here's my advice:”

Here’s The Advice.

1. BNZ Acquires Open Banking Fintech BlinkPay.

Bank of New Zealand (BNZ) has acquired open banking fintech BlinkPay for an undisclosed sum.

Last year, driven by implementing Consumer Data Rights (CDR), FinTech teamed up with BNZ and other New Zealand banks to support the rollout of open banking in the country.

2. Fintech Firm Secures Funding to Fuel Asian Exports by SMEs.

2024 Under 30 alums Milan Ray and Yacine Sibous met at the Silicon Valley campus of the French coding bootcamp, 42, in 2018. 

There, the two spent up to 16 hours a day learning code together, which increased their skills as computer engineers and allowed them to bond over their shared interest in building businesses to achieve financial freedom. 

It turns out that financial support is exactly what the now-cofounders offer customers today.

3. Sri Lanka On the Road to Recovery: Fintech’s Impact on the Economy

In the last five years, Sri Lanka’s economy has significantly struggled. From being one of the strongest markets in South Asia, it has since fallen from grace. Could fintech be the catalyst it needs to see a revival?