Bank identity checks push one in four consumers to a competitor

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New data from FICO reveals the levels of consumer tolerance to new account opening security checks. With 23% of UK respondents admitting to going to a competitor if asked to visit a branch or post documents as part of the digital application process, it’s clear that financial services providers need to get the balance right on security checks and a smooth customer journey.

According to the data, if asked to visit branches or post documents, only just over half of customers (52%) will complete the process as soon as possible, while nearly one in three (31%) will give up completely

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The reason Europe’s banks want EPI to end US dominance in payments

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The last time the banks and infrastructure providers in the European payments market tried to build a payments network capable of taking on the US companies that dominate the sector, they failed miserably.

  The reason Europe’s banks want EPI to end US  dominance in payments

But when Project Monnet collapsed in 2011, nobody was talking about the commercial threat from US tech companies; and the EU’s politicians had not just lived through the Trump presidency – according to an article in the FT.

Now, with those politicians convinced that a European payments system is a question of sovereignty, some

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Top tips for securing SoftPOS payments

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Digital payments have sky-rocketed in popularity as consumers have sought new, more hygienic ways to pay. SoftPOS payments offer numerous benefits to consumers and merchants alike.

Top tips for securing SoftPOS payments

Comprised of software solutions that run on Android Commercial Off-The-Shelf (COTS) devices, they can enable digital payment acceptance in a cost-effective and simple way.

However, SoftPOS solutions must live up to the seamless, consistent and trusted experience provided by traditional payment terminals – writes Christian Damour, Pre-sales Manager – Security at Fime.

Security and confidence are part of this and fundamental to the ongoing adoption and success

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El Salvador rolls the dice

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I am not sure if this is a late April fool or even that it constitutes as news, but El Salvador just became the first country in the world to adopt Bitcoin as legal tender!

El Salvador rolls the dice – makes Bitcoin legal tender

Congress approved President Nayib Bukele’s proposal to embrace the cryptocurrency, with 62 out of 84 possible votes, lawmakers voted in favour of the move to create a law to adopt Bitcoin, despite concern about the potential impact on El Salvador’s program with the International Monetary Fund.

Bukele has long supported the use of Bitcoin

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