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March 28, 2024

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On the web

Opinion: Canadian Banking Needs More Competition

Financial Post

"Competition and product innovation are hindered by Canada’s outdated financial infrastructure, which lags the real-time payment settlement and consumer-driven banking that have measurably improved outcomes for consumers in all other G7 countries."

On the wires

March 27, 2024

On the web

CFPB Takes Action to Halt False Claims of 'Free' International Money Transfers

Consumer Financial Protection Bureau

"The Consumer Financial Protection Bureau (CFPB) issued a new circular warning remittance transfer providers that false advertising about the cost or speed of sending a remittance transfer can violate federal law. Companies in the marketplace are charging junk fees on international money transfers and making false claims about the speed of transfers."

Visa’s Growing Services Business Infused with New AI-Powered Products

Visa

"Visa announced continued expansion of its global value-added services business with the addition of three new AI-powered risk and fraud prevention solutions. The new products, part of the end-to-end Visa Protect suite, are designed to reduce fraud across immediate account-to-account and card not present (CNP) payments, as well as transactions both on and off Visa’s network."

March 26, 2024

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On the web

On the wires

March 25, 2024

On the wires

Swift Sets Industry Up for Seamless Introduction of CBDCs for Cross-Border Transactions as Interlinking Solution Finds More Use Cases

Business Wire

"Swift announced the findings of the second phase of industry-wide sandbox testing on its central bank digital currency (CBDC) interlinking solution, with the results showing that its connector can enable financial institutions to carry out a wide range of financial transactions using CBDCs and other forms of digital tokens, easily incorporating them into their business practices."