Kent Henderson

E194 That Great Business Show with Conall Ó Móráin The Republic of Ireland (pop. 5m) has 2.7 million Revolut users. Percentage wise, Ireland is the biggest adopter of neobanks across the EU. Head of Revolut EU is Joe Heneghan who talks to us about what the future of banking looks like. Will we ever darken a banking hall again? Also biting the heels of the so-called 'pilar banks' are SME funders like GRID whose founder, Derek Foley Butler, FCA, also joins us to see what he sees now and what he sees looking into the future. Then, there's Financial Services Ireland (FSI) that is hell-bent on making Ireland a fintech capital (as are the UK, France, Lithuania, Estonia...). Patricia Callan, FSI Director, gives us an overview of that the challenges and opportunities are for new and established fintech startups here. As always we ask all our guests for their 'hire in a heartbeat' recommendation and here's this episode's line-up. Lobbyist Patricia would like to hire Alastair Campbell, Tony Blair's PR when UK PM, for his lobbying prowess (and for his podcast The Rest is Politics Goalhanger Podcasts ) Derek would like to have Mairead McGuinness, EU Commissioner for Financial Services on his team, for obvious reasons as he explains the surreal amount of regulation the industry is currently facing Joe is an admirer of the Wayflyer model (a very clever Irish fintech unicorn) and he'd like if Aidan Corbett, co-founder, would drop into his office for 'a chat'. REPOST please. That's different to a 'like' that does nothing. A REPOST goes to all your followers who may be interested in the topics our guests raise. So if you'd like people to know what Revolut, Grid Finance and the FSI are planning, make sure to share. Johnny Lynch Sarah Naughton Emma Quinlan Cian O'Toole Robert Riley Dargan Robert Mooney Daniel White Donal Corbett Alex O. Conor Flynn James Abraham, ACA Niall Durkin Alan Reynolds Eoin Delahunty Sebastian Hamilton Maxwell Sheridan Tammy Kieffer Elaine Stenson Ian Gunnery Matthew Ward Luke Bates Nik Storonsky Kieran Redmond Neil F. Dunne Alvise Panfilo JJ O'Sullivan Liam Vaughan Ankur Baliyan Ryan Kavanagh https://lnkd.in/exvSKbEy

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Financial services firms of all sizes, and across all parts of the industry, are embracing technology in order to deliver innovative new products to the market and meet the needs of Irish consumers.   This week on That Great Business Show with Conall Ó Móráin, our director Patricia Callan joined FSI chair Joe Heneghan, Revolut and Derek Foley Butler, FCA FSI member firm GRID Finance for a wide-ranging discussion on the changing face of financial services, with every firm in the industry now harnessing the power of fintech.   Also discussed were the key next steps needed to continue to grow the financial services industry in Ireland, through initiatives like a national fintech hub (to which all financial services firms would have access), increased funding for upskilling and training, and the need to ensure an attractive operating environment.

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*FraudSMART recently highlighted the financial impact of fraud on Irish SMEs, with business owners losing almost €10m (€9.9m) through email-related fraud last year. SMEs need to remain vigilant against fraudsters and, with most merchants now using online platforms and systems, we've six tips to help keep your business safe from fraudsters and potential breaches. Check them out here 👉 https://lnkd.in/ePqkTP3t 👈 #BOIPA #Payments #Fraud #FraudPrevention #FraudSMART #BPFI *FraudSMART is a fraud awareness initiative developed by Banking & Payments Federation Ireland (BPFI).

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We're empowering Irish businesses get paid more quickly through BOIPA Collect—our payment collection solution allowing customers pay easily via a secure payment link. This feature-rich solution's easy-to-navigate interface doesn't require a website, integrates with plug-ins, allows businesses to track payment status, send reminders and take payments over the phone. And the value from Collect's features for our customers is clear from day one. "Collect has increased the speed and reduced the administrative burden in which we can recover payments from our clients." Malone and Co. Accountants Start taking payments via email and text with 4 easy steps through BOIPA Collect: https://lnkd.in/ep9hJrvg

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Open banking in Ireland is undergoing an evolution, with digital #payments and mobile banking on the rise. Read our blog to uncover local payment trends, opportunities and challenges: https://lnkd.in/eUM74_wh

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The latest Central Bank of Ireland (https://lnkd.in/ef3MDSGG) and separately the Banking and Payments Federation of Ireland quarterly statistics (below) on payments show Ireland continues to experience phenomenal growth in the adoption of electronic payments. - 20% value and over 30% volume increase between 2022 and 2023 (CBI) - continued reduction in cash usage long passed a tipping point - 47% increase in use of Digital Wallet Payments (BPFI) - higher penetration for in-person payments - expect to see significant growth in ecommerce checkout using digital wallets - Digital Payment Wallets overtake physical card payments in-store (BPFI) - consumer use of physical cards reducing as €50 contactless limit doesnt apply to wallet payments - Average 277 contactless payments by Irish consumers ('Mar-23 - Mar 24') (BPFI) - Significant regional variances in the use of contactless in metro versus rural locations i.e. 394 in Dublin and 135 in Roscommon (BPFI) - interesting to understand whether this is because commerce in rural settings requires consumers to carry cash for some B2C settings whilst in metro settings the use of cash is no longer necessary - Card payments represent 63% volume, but only 1.1% of value of electronic payments (BPFI) - it will be interesting to observe whether SEPA Instant, improvements to Open Banking can pave the way for A2A payment solutions to challenge card payments for B2C payments in Ireland - Cheque payments are steadily declining, but Ireland's use of Cheque remains high (3 per cap p/a) compared to most EU states https://lnkd.in/eVwxXXhy

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🚀 𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐍𝐞𝐰𝐬! Permanent TSB teams up with Worldpay to supercharge merchant services across Ireland! 💳✨ This partnership means faster, more efficient payment solutions for businesses. Are you ready for the future of fintech? 🌐 #Fintech #Payments #Innovation #BusinessGrowth #PTSB #Worldpay #Ireland #DigitalPayment

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As your trusted payment partner, we understand how crucial cash flow is for your retail business. That’s why at AIB Merchant Services, we aim to settle funds within 24 hours for AIB customers, ensuring you get paid quickly and securely.⁣ ⁣ Here’s how to make sure you receive a seamless settlement experience:⁣ ⁣ - Processing Windows: AIB Merchant Services has two processing windows each business day, Midnight and 2 a.m. Your terminal type determines which window applies to you.⁣ - Settlement Times: Payments are settled into your bank account from Monday to Friday (excluding bank holidays), depending on the jurisdiction of your receiving bank.⁣ - Net Settlements: Payments are net of any suspended or rejected transactions, which may need to be resubmitted based on card scheme rules.⁣ ⁣ If you have questions about your settlements our Merchant Support Centre is here to help. Contact us for any enquiries⁣ www.aibms.com. *We aim to complete settlements for AIB customers within 24 hours,. Settlement time varies for other Banks and Institutions. #powerebyaibms #backedbyaib⁣ First Merchant Processing (Ireland) DAC, trading as AIB Merchant Services, is regulated by the Central Bank of Ireland.

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Nexi Group 🤝 Payac Services CLG 🇮🇪 💸 As a result of this partnership, 176 credit unions in the Republic of Ireland of ALL SIZES will use Nexi’s Instant Payments platform which will allow credit union members to make INSANT money transfers 🛡 👏 Credit unions will ALSO benefit from Nexi’s anti-fraud service which is designed to identify AND manage potentially fraudulent payments through real-time analysis. The integration of Nexi’s Instant Payments platform into the Credit Union systems will be completed in later THIS YEAR! 👨‍💻 “The partnership with Payac further strengthens our position as a market leader in Europe, providing excellent technological solutions. It is another fundamental step in the proliferation of digital payment solutions, consistent with Nexi’s mission. Instant payments represent a great opportunity in the continuous evolution of payment services. The growth of instant payments of 35% at a European level in 2023 will be accelerated even more by the new REGULATION (EU) 2024/886 and Nexi is perfectly equipped to support credit unions and their members in this exciting journey”, says Renato Martini, Digital Banking Solutions Director of Nexi Group. Read more on the link below! 👇 Seamus Newcombe Sandra Reev John Jennie Johansson Carnhamre Kira Magennis Simona Tamagni Matt Rowsell Omar Haque #nexi #sepa #instantpayments #creditunion #payac #digitalpayments #sepapayments #regulatorycompliance #payments #fraudprevention

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🔍 How can banks create a better banking experience for small businesses? 🚀 Edgardo Torres-Caballero, Tuum's Chief Revenue Officer, recently joined The Fintech Show hosted by FF News | Fintech Finance, alongside James Holian from NatWest and Niall Devlin from Bank of Ireland. They explore how banks can harness advanced technologies to support SMEs in this insightful episode. 𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀: 𝗘𝗺𝗯𝗿𝗮𝗰𝗲 𝗗𝗶𝗴𝗶𝘁𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻: Learn why integrating modern digital platforms is crucial for delivering rapid, efficient banking solutions. 𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹𝗶𝘇𝗲𝗱 𝗕𝗮𝗻𝗸𝗶𝗻𝗴: Discover how personalized services can enhance customer satisfaction and drive business growth. 𝗔𝗣𝗜-𝗗𝗿𝗶𝘃𝗲𝗻 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻: See how APIs enable seamless integration with fintechs to provide tailored solutions for SMEs. 𝗗𝗮𝘁𝗮 𝗔𝗻𝗮𝗹𝘆𝘁𝗶𝗰𝘀 & 𝗔𝗜: Find out how data analytics and AI can transform decision-making and improve customer experiences. 𝗦𝗰𝗮𝗹𝗮𝗯𝗹𝗲 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀: Explore how scalable, modular platforms empower banks to innovate and adapt quickly. 🌟 Empowering Small Businesses: Small businesses face unique challenges that require flexible, responsive banking solutions. At Tuum, we are committed to providing tailored banking experiences that meet these needs. Watch the full episode to get inspired and learn how our cutting-edge technology is transforming the SME banking landscape: https://lnkd.in/e9txtVEB #Corebanking #Fintech #SMEs #DigitalTransformation #Tuum

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Our CEO, Derek Foley Butler, FCA, recently had the pleasure of joining the CEO of Revolut Europe and the Director of Financial Services Ireland on 'That Great Business Show.' It was an excellent discussion, highlighting the exciting developments at GRID Finance and the broader financial landscape. Check out the episode for some great insights! #GRIDFinance #Podcast #FinancialInnovation

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From today, media channels will be announcing that the Irish post office, An Post, is embedding an advanced new anti-fraud technology into its payments app. Read the full media release is below. Safecypher, one of Europe’s leading card payments security companies, has launched an advanced new anti-fraud technology in partnership with An Post. The Irish Post office will now embed the Safecypher security technology for CNP (Cardholder-Not-Present) payments into its popular An Post Payments app. CNP fraud is one of the most devious and pernicious types of credit and payments card fraud, and CNP global losses predicted for 2024 are $35.8 billion. CNP fraud occurs when criminals carry out transactions by phone or online using seemingly legitimate card details, including the account holder's name, full card number, expiry date, and CVV number. Safecypher provides two-factor authentication of every payment by replacing the standard static card verification (CVV – 3 digits on the reverse of the physical card) with a randomly generated dynamic CVV to replace it. This means that even if a card is compromised, one of the key checks on payments cannot be carried out unless you have access to the cardholder’s device and can access the banking app. Debbie Byrne, Managing Director of An Post Retail describes this new secure facility as a game-changer for new and existing customers: “This is a brilliantly useful and innovative facility for An Post Money Current Account customers. It is so simple to activate and employ but ensures priceless peace of mind and financial security when shopping online or ordering over the phone. We are delighted to partner with the Safecypher team in being the first current account provider in Ireland to make this great facility available, free of charge, to our customers.” Ben Jordan, CEO of Safecypher said, “This partnership with An Post is a substantial advance in the battle against cardholder not present credit card fraud. From the very start of our engagement, we were impressed by the team at An Post, and their determination to bring this new anti-fraud technology to every cardholder.’ Ben concluded, “Every fraudulent transaction costs the banking and payments ecosystem and their customers money that could be spent better elsewhere. An Post’s determination to stamp it out and enhance the service they give to their customers was a real incentive for us to get the product built, tested and deployed.” Safecypher anti-fraud technology can either be embedded into a bank’s existing app, or it can be provided by a stand-alone white label app. Only the cardholder will have access to the dynamic CVV, which changes after short time, so it will be different for the next transaction.

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Voice Biometrics News Around the World:  Bank of Ireland's Major Investment! The bank has announced a major investment of over €34 million (approximately US$36 million) to upgrade its phone and CRM systems. As part of this upgrade, they will be integrating voice biometrics for secure and efficient customer authentication. This cutting-edge technology will enhance security and streamline the customer experience, setting a new standard in banking. Stay tuned for more innovations in secure banking! #VoiceBiometrics #BankingInnovation #SecureBanking #CustomerExperience #DigitalTransformation #BankOfIreland #TechInvestment #KaizenSecureVoiz #Kaizenvoizusa #USA

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Revolut Launches Wealth Protection Feature to Block Pickpockets and Phone Snatchers From Accessing Customer Savings Ahead of Summer Travel Season Woody Malouf, Head of Financial Crime at Revolut, commented: “We take fraud and the financial loss incredibly seriously. With phone thefts on the rise, Wealth Protection has been built to counteract theft by providing our customers with that extra layer of security when you’re out and about this summer. Our customers will be able to rest easy knowing that even if their phone is lost or stolen, their hard earned savings are more secure.” https://lnkd.in/eKYYJ-y9 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Spending thousands to recruit customers only to lose them at the checkout?⁣ Many businesses invest significant resources in marketing and advertising campaigns to drive traffic to their websites or storefronts, only to see potential sales slip away due to friction at the payment stage.⁣ ⁣ With AIB Merchant Services' Authipay solution, it doesn't have to be that way. Our technology ensures a seamless and secure checkout experience for your customers. Authipay streamlines the payment process, offering a frictionless experience that minimises barriers to purchase. ⁣ ⁣ With features such as:⁣ - Multi payment options – all major credit & debit cards accepted.⁣ - Multi-currency settlement.⁣ - API, Hosted Page and Virtual Terminal available.⁣ - Secure, web-based transaction and merchant services reporting.⁣ - Technical support via telephone and email – available during standard working hours.⁣ - 3D Secure.⁣ ⁣ Authipay provides the flexibility and convenience that consumers today demand.⁣ ⁣ To find out how AIB Merchant Services can support your business contact our sales team today http://www.aibms.com #poweredbyaibms #backedbyaib First Merchant Processing (Ireland) DAC, trading as AIB Merchant Services, is regulated by the Central Bank of Ireland.⁣⁣

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Invoice redirection scams are the top fraud risks for #SMEs in Ireland, according to FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland. Figures show that SMEs lost close to €10m through email-related fraud in 2023, including invoice-redirection and CEO impersonation scams. More details, including expert tips on how to protect your business, below ⤵️ https://hubs.li/Q02GyjPt0 #teamFP #accounting #accountancy #fraud #FraudSmart

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🎙️ New Episode Alert 🎙️ Eimear O'Connor is joined by Mandy Lamb from Visa to delve into the world of digital transformation in payments. Banks are facing a critical turning point, where modernisation is becoming a necessity due to rising customer expectations and the need for a restructured approach to banking and payments increases. Want to know how you can thrive in this digital shift? Tune in and have a listen 👉 https://form3.co/4agTRGZ #financialservices #paymentsplatform #cloudnative #banking #fintech #multicloud #paymentsmodernisation #fraudprevention

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🚀 How User-Centered Design Transforms Business Results 🌟 In today’s digital world, delivering intuitive and engaging experiences is key. Here's why User-Centered Design (UCD) is a game-changer: What is User-Centered Design? UCD places the user at the core of the design process, focusing on their needs, behaviors, and pain points. From research to implementation, it’s about creating solutions for people, with people. Why UCD Matters for Your Business 📌 Higher User Satisfaction 🚀 Tailored, intuitive designs lead to happier users. Result: Stronger brand loyalty and increased retention. 📌Builds Brand Loyalty & Trust 🤝 A user-focused approach demonstrates care and adaptability. Result: Trust boosts loyalty and turns users into advocates. Reduces the Need for Future Redesigns 🔄 Early research and testing inform smarter decisions. Result: Fewer costly and time-consuming redesigns later. 📌Ensures Inclusivity & Accessibility 🌍 Considers all users, regardless of ability. Result: Broader reach and a stronger brand reputation. 📌Better ROI & Cost Savings 💸 Proactive investment in UCD prevents expensive fixes. Result: Higher ROI with products that align with user needs. 📌Drives Conversions & Retention 📈 Seamless, user-friendly designs improve engagement. Result: Higher conversion rates and repeat users. The Bottom Line Investing in User-Centered Design means: A smoother customer journey Higher retention rates A stronger brand reputation When you invest in User-Centred Design, you’re investing in a smoother customer journey, higher retention, and a stronger brand reputation. 🧩✨ Curious how UCD can enhance your business? Let’s discuss putting your users first! Drop a comment or connect with me. #UserCenteredDesign #UIUX #ProductDesign #BusinessGrowth #CustomerFirst #DigitalExperience #UXResearch #Accessibility #BrandLoyalty

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