Issue #17 - Intro to Data Rich Payments

In the next few issues of Tracking Payments we’ll explore the new data sources that will impact financial services. Here’s some appetizers:

What do we mean by data rich payments?

• Accenture: Why ISO 20022 is a seismic shift for payments

• Finance Digest: Understanding the realities of payment data monetisation

• McKinsey: How open financial data is reshaping financial services

Use Cases of Better Data

• IBM: Analytics: The real-world use of big data in financial services

• The Paypers: Real-time payments: added revenue and stronger fraud defence justify the investment

• The Paypers: Time to reimagine business banking: helping optimise business processes

When you have all this new data, what else is possible?

• Paypers: Where Open Banking and payments innovation meet - interview with Citi

• Fintech Futures: Is data the new currency for banks?

• Payments Dive: Fintechs attack cross-border business payments as banks, legacy players rush to innovate

---

News We’re Reading This Week

• Techcrunch: Rapyd raises $300M on $8.75B valuation as fintech-as-a-service continues to boom

• Banking Dive: Sable taps Wise for cross-border payments

• Paypers: Citi launches Spot. Buy Now Pay Later

• Payments Journal: Lloyds Bank and Visa Promise Straight-Through Processing for Commercial Charge Cards

• Cision: Interac and many of Canada's leading financial institutions enhance Interac e-Transfer to introduce instant digital payments for businesses

• QED: Why QED invested in Reserve Trust

• Finextra: Canada sets 2023 target for open banking regime

• Fintechna: The Great Migration

• Banking Dive: Chase study highlights growing popularity of digital banking

• Termsheet: New CBDC report highlights potential opportunities and challenges of introducing a Central Bank Digital Currency in the U.S

---

If you have thoughts or questions to share on this series, please leave a comment.

These musings on the developments in data-rich payments are assembled by the team at 20022 Labs. See more issues and subscribe to get updates in your inbox.