Payments and CX key to Open Banking as banks start to spend

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New research reveals an increase in spending among Europe’s financial executives, with 47% saying their Open Banking budgets have risen in 2021.

This follows a challenging year in 2020, where financial institutions battled budget restrictions against the race to serve more customers digitally.

Tink’s research – based on 308 senior decision makers at financial institutions in 12 European countries – found the Covid-19 pandemic impacted budgets for 93% of financial institutions, with almost a quarter (23%) revealing the impact was significant.

At the beginning of 2020 executives expected to spend, on average, €50-100 million on achieving their Open Banking objectives.

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Millions of payment card details found on dark web

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New analysis has observed over 4 million (4,481,379) payment card details, belonging to users across 140 countries, being traded on the dark web.

Millions of payment card details found on dark web

The hackers were found selling payment cards information for $10 on average per card. The highest number of card details found for sale were from the US, Australia, and Hong Kong.

The researcher’s revealed hackers have discovered a way to find card numbers without breaking into a database, and there’s also a booming underground black market for them.

The attackers are able to pull this off because the

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QR codes set to make a quantum leap in consumer popularity

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Of the many payment innovations to surface in the past 20 years, the QR code is enjoying a resurgence, having once been viewed as a failed marketing gimmick that became outdated before its time.

QR codes set to make leap in consumer popularity

A decade ago, QR codes were largely found on direct mailouts, billboards, in-store shopping displays, and other printed materials. It was a technology in search of a digital use case, and smartphone penetration that was yet to be realised.

But as the Digital & Card Payment Yearbooks show, the arrival of the Covid-109 pandemic has given the

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Howden expands Hong Kong offering with acquisition of Expat Marine

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International brokerage Howden has acquired Expat Marine Limited (EML), a specialist insurance broker providing general insurance and employee benefits in Hong Kong.

Financial details of the transaction were not disclosed.

EML was established 32 years ago by CEO Peter McTavish. The Lloyd’s coverholder firm caters to individuals and small businesses, specialising in insurance for fine art, yachts and pleasure craft.

“We chose to join Howden because it is a people-first, employee-owned business where colleagues are empowered to deliver exceptional service to clients,” McTavish said. “As markets develop, our clients will benefit from the expertise and product knowledge of

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