Fintech, Finance, Technology, Banking Highlights – 20 April 2018

EMVco reports over half of cards issued globally are EMV-enabled

Aggregated data published by EMVCo shows that by the end of 2017, 54.6% of all cards issued globally were EMV-enabled.

The number of EMV payment cards in worldwide circulation increased by 1 billion over the previous 12 months to a total of 7.1 billion. The data demonstrates that 63.7% of all card-present transactions conducted across the world between January and December 2017 used EMV chip technology, increasing from 52.4% in 2016.

Given the dynamic nature of some regions, more recent data is likely to reflect higher overall adoption rates and transaction volumes than the total for 2017.

“Both EMV chip card issuance and EMV chip transactions surpassing 50% globally is testament to the increasing maturity of the worldwide infrastructure, and a significant milestone for the payments community,” comments Jack Pan, EMVCo Executive Committee Chair. “EMVCo continues to work closely with payment stakeholders to evolve the EMV Specifications to provide a secure, interoperable foundation for emerging technologies across face-to-face and remote environments.”

NCino partners with Vasco

nCino announced that it is collaborating with VASCO, a global leader in digital solutions including identity, security and business productivity, to integrate the eSignLive electronic signature solution into its Bank Operating System.

“By incorporating new levels of automation into our product through key integrations like eSignLive, financial institutions can quickly increase loan volume and remove unnecessary manual work from their processes,” said Trisha Price, EVP of product development and engineering at nCino. “The added benefit of allowing customers to securely sign documents anywhere, at any time and on any device, is a huge advantage to the financial institutions that use our platform.”

In addition to streamlining and digitizing the entire lending and account opening process, together eSignLive and nCino:
• Support the creation of an e-signature transaction seamlessly within the Bank Operating System;
• Increase organizational efficiency and customer satisfaction by speeding up transaction processing and completion time; and
• Enable compliance with the most stringent global security standards.

Truss Edge launches in Europe

Truss Edge, a technology company that has been founded to support the day to day portfolio management and reporting tasks of hedge funds and ETFs, is launching in Europe this week.

Truss Edge combines a technology offering for fund managers who need a front to back portfolio management solution combined with a highly experienced team of fund professionals who understand vanilla and esoteric financial markets.

Truss Edge was originally known in the US market as EDD Fund Services. Founded in 1998 by a global hedge fund to meet its own internal trade processing and post-trade requirements, EDD has grown its business over the years, serving hedge funds, CTAs and ETFs in the North American market and with a growing base of European clients. It is recognized for its expertise managing the processing and reporting needs of its clients.

Verifi introduces reseller programme

Verifi a provider of payment and risk management solutions for POS and card-not-present merchants, announced the launch of its Authorized Reseller Program.

Through the program, Verifi will expand its investment in its channel partner network to support and accelerate their growth and global merchant adoption of Cardholder Dispute Resolution Network (CDRN).

Since its launch in 2007, CDRN has determined the industry standard for delivering unmatched chargeback prevention services. With consistent year-over-year growth, the CDRN patented “closed loop” process helps merchants achieve the highest level of true chargeback protection by reducing chargebacks up to 40%, while avoiding false positives, reducing manual review time, and increasing their profitability.