Omair Bin Asim Khan

New Report Indicates UK SMEs Are Optimistic About the Future Corin Camenisch, Product Marketing Lead at SumUp commented on the survey: “As champions for small merchants, we conducted this survey to discover the confidence levels of small business owners and decision makers in the UK to better understand the challenges they face, gauge their optimism about their future, and identify areas where support for SMEs might be needed. “Overall, confidence levels of small business owners and decision makers across the UK are high. This positive outlook suggests that small merchants are prepared to navigate potential uncertainties and continue to thrive. “We have provided tips off the back of our findings for those just starting out in business, or who are looking to deal with unexpected market fluctuations on our full campaign page.” https://lnkd.in/e975UtrF #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Tuum Launches Foundations for Islamic Banking and Finance Solutions "This is an exciting milestone for Tuum as we take our first steps into the world of Islamic banking," said Miljan Stamenkovic, VP, EMEA at Tuum. "By focusing on the foundational elements of Sharia-compliant financial services, we are empowering financial institutions to meet the growing global demand for inclusive and ethical banking products. Our platform’s flexibility and scalability will enable banks to innovate while ensuring that their offerings align with Islamic principles." https://lnkd.in/e2TKZsAD Amanda Steward Myles Bertrand Jan Lakspere Amr Kandel Stephen Frame Ove Kreison Mohammad Moazzem Hossain Chowdhury #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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We welcome the National Payments Vision and its emphasis on strengthening the UK’s fintech sector and boosting its global competitiveness in financial services. The government has outlined clear priorities for the future of payments, with Open Banking payments identified as a key driver for economic growth in the UK. A well-functioning Open Banking ecosystem is crucial for providing greater choice to both consumers and merchants, and we’re pleased to see the government recognize the vital role Open Banking plays in enabling this. Notably, HMRC already receives more Open Banking payments than any other UK organisation, or any government department globally, with over 10 million payments totaling nearly £33 billion processed through Open Banking. This success story must resonate across all sectors of society. Consolidated under a single regulatory authority, Open Banking can provide a strong foundation from which to launch new Open Finance and Smart Data frameworks. The government's ambitions for the UK to lead the development of open finance highlights their commitment in paving the way for greater innovation, choice and engagement across the financial services ecosystem. To that end, we look forward to working with the FCA to improve on the foundations of Open Banking, drive innovation in single and variable recurring payments and bring in the next chapter of Open Finance. Please find the National Payments Vision here: https://lnkd.in/e-zxUJdV #OpenFinance #OpenBanking #Fintech Armalytix Crezco finAPI GoCardless Modulr Moneyhub Nuapay - a GoCardless company Ordo Plaid Token.io TrueLayer Volt.io Worldline Yapily

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The National Payments Vision is here and positions Open Banking as a key driver of UK economic growth. 🚀 💡 With £33 billion in Open Banking payments processed for #HMRC alone, the opportunity to deliver even greater choice and efficiency is clear. As active contributors to this ecosystem, we’re committed to continuing our work with the #FCA and other key stakeholders to build on these strong foundations, drive #innovation in #payments, and pave the way for #OpenFinance. Read the Vision here 👉https://lnkd.in/e-zxUJdV

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MeaWallet Partners With Integrated Finance to Enhance Digital Wallet and Secure Card Data Access for Fintechs Alistair Cotton, CEO at Integrated Finance, added: “At Integrated Finance, we’re always looking for innovative solutions that make it easier for fintechs to scale rapidly and securely. Partnering with MeaWallet enables us to offer even more robust and secure payment experiences to our clients, providing them with direct access to digital wallets and card data, all within a platform that is ready to grow with their needs.” https://lnkd.in/ez-E9jEz Thomas Benjaminsen Normann Edward Doljanin Amar Kotak Daniel Cronin Canay Özel Aivaras Valainis #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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The National Payments Vision for FinTech ⭐ We have submitted our input to HM Treasury as part of its work on developing a National Payments Vision (NPV), which is due to be published by the summer. We outline why the NPV needs to set out an ambitious agenda to help deliver the next generation of payment experiences for merchants and consumers, building on the successful innovation and competition that FinTech has helped bring about. The UK should be the world leader in digital wallet payments, with a digital payments ecosystem that supports and enables a diversity of payment methods and providers, underpinned by competition where the consumer has choice and control and can easily use different payment systems, methods and providers with ease and with confidence in an equivalent level of consumer protection. This trusted, competitive, digital, interoperable ecosystem can enable: - Improved productivity for UK merchants and businesses - Better outcomes for customers and citizens  - Increased  growth and inward investment for the UK payments industry  - Greater strategic autonomy and resilience for the UK economy and society   Our paper examines FinTech’s role in the payments landscape, how the government can implement, deliver and review the NPV’s progress, and key aims that the NPV should include to support the FinTech sector, such as: ⚙️ Account to Account payment method: The NPV should prioritise the development of a new major payment method to compete with card payments, powered by Open Banking.  📜 Regulatory support for innovation and competition: Deliver a regulatory framework that allows different digital payment methods to compete on a level playing field. 🏗️ National Payments Architecture (NPA): A recommitment to deliver NPA and its strategic objectives, with a clear roadmap and timeline for implementation, and an ambition that is cloud-native. 🌍 Interoperability: The NPV should set out a roadmap for working towards interoperable payment systems, domestically and globally. See link to the report 👉 https://lnkd.in/eAinjhYg #FinTech #InnovateFinance #DigitalPayments #FutureofPaymentsReview #NationalPaymentsVision #Paymentstrategy #UKFinTech #Payments Paul Worthington | Adam Jackson | Jago Corry

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💥 We're delighted to join the Temenos Exchange programme, helping banks across Europe deal with the challenges of identifying and validating open banking third parties accessing their customers' account data. Martin Bailey, Director of Innovation and Ecosystems, Temenos: “Temenos Exchange acts as an accelerator for fintechs and software developers, helping them develop, validate and monetize new banking solutions. The integration with Temenos and joining Temenos Exchange means Konsentus can integrate once and be readily available to the thousands of banks globally that run on our platform.” Brendan Jones, CCO, Konsentus: “Making Konsentus Verify available on Temenos Exchange furthers our mission to accelerate the global adoption of open banking and open finance. We remove complexity for banks by providing them with extremely complex data in a standardised format. This is where we excel and we’re delighted to be able to offer these services to all the banks that run on Temenos’ platform.” Read the full release for more information 👉 https://lnkd.in/gzYj9fNn #konsentus #temenos #openbanking #openfinance #tpp

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Broken Business Savings Market Is Costing British SMEs £9 Billion a Year in Missing Interest Richard Davies, CEO of Allica Bank, said:  “There’s no question the SME savings market is broken. “The fact the SME savings penalty has got larger since we first did our research last year – while the Bank rate has reduced slightly – is a travesty many SMEs will find hard to understand. “It’s very unfair SMEs don’t get similar rates to large companies, and our research suggests big banks won’t be improving their rates for SMEs any time soon. “It’s time for something to be done to make that change, get SMEs a better deal and release billions of pounds into the real economy.” https://lnkd.in/eqAmuVCf Chloe Fenton (née Vaidya) Georgie Burks Joe Jones James Heath Ravneet Shah Conrad Ford Mitch (Munish) Trehan Nick Baker #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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OBL strongly welcomes the Government's National Payments Vision, which sets out a clear plan to deliver further innovation and competition in the UK's payments landscape. In particular, we are pleased with the recognition given to the key role that open banking can and must play in delivering this, providing benefits to consumers, businesses and the broader ecosystem. This includes the referenced opportunities to make account-to-account payments a ubiquitous payment method, as well as the support for the continuing progress in variable recurring payments. Finally, we welcome the focus placed on driving even greater cooperation and collaboration across the sector through the newly formed Payments Vision Delivery Committee, and stand ready to support this, as well as continuing our close work with policy makers and regulators to achieve the goals set out in the Vision. → https://lnkd.in/eZmzwmrF #OpenBanking #SmartData #OpenFinance #NationalPaymentsVision #Innovation #DigitalInnovation #TechInnovation #Payments #Data #MansionHouse #VRPs Department for Business and Trade | HM Treasury | Marion King | Henk Van Hulle | City of London Corporation

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Recently the #UK Government released its #NationalPaymentsVision, outlining objectives for the nation's #payments sector. The National Payments Vision outlines its ambitions for the payments sector to achieve a trusted, world-leading payments ecosystem. This vision is built on next-generation technology, ensuring consumers and businesses have a choice of payment methods to meet their needs. The vision also emphasizes the importance of collaboration between the #government, #regulators, and the private sector to achieve these goals. The industry reaction is that #OpenBanking and #accounttoaccount payments are important for modernising the UK’s payment systems. There is also an emphasis on the need to move beyond traditional card networks to reduce costs for businesses while improving security and convenience for consumers, and there is enough optimism from relevant players about the sector’s capacity to deliver on these objectives. While innovations are welcome and will do good for the payment industry, the National Payments Vision is mute about having a National Card Payment system. Most developed and developing Nations have established such a system in the national interest and it is a bit Unusual that a mature market like the UK is silent about it. It can be read in 2 ways - The government is strong enough and can command a lot of things while being dependent on International Players or simply it is not required in the near future. A framework for developing the UK’s retail payment infrastructure, including proposed reforms to the UK payment system is expected by mid-2025. It needs to be seen how the UK would steer its payment industry. https://lnkd.in/e62D-Ptv

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Community is the word. From the beginning of Temenos Community Forum 2024, it was clear this was front and centre. This year, Temenos' flagship annual event was in Dublin and we were there to check it out. From major product announcements to what banks and financial institutions can expect to gain from Generative AI, it covered a lot of ground. Read the report below to get key highlights from the two day conference and find out what you should be expecting from Temenos in the coming year. Also, keep an eye out for video coverage and interviews from the event. https://lnkd.in/e8pUWq_N Tony Coleman Kanika Hope Jean-Pierre Brulard William Moroney Prema Varadhan Kalliopi Chioti #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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The Competition and Markets Authority (CMA) has announced the completion of its Open Banking Roadmap unlocking a new era of financial innovation. Ben Beecroft, Head of Monitoring at OBL comments Read more here >> https://lnkd.in/eZSAKjvJ #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #VRPs Financial Conduct Authority | HM Treasury | Payment Systems Regulator

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What is driving the #realtimepayments revolution in Europe? Stop by The Banking Scene Conference booth #15 on May 21 to get the answer, plus find out what you need to do to prepare for SEPA #instantpayments. https://aciw.co/4bxiXCY

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Paythru releases guiding principles EV payment specialist Paythru has published a proposed set of guiding principles aimed at greater collaboration among the payments sector, public charge point operators, and charge point management systems. The move has been undertaken by the firm to address current problems with the charging payment process. Shaped by its own research, and conversations with the industry around what drivers want. It is also backed by the Association for Renewable Energy and Clean Technology (REA), as part of its ongoing mission to accelerate the UK’s transition to a cleaner, more sustainable energy future. Paythru proposes the following set of guiding principles for all EV charge points, with the methods addressed in the charter: - No more confusion over charging costs - Standardised and reliable payment methods - Minimise payment failures - Clarity and transparency in pre-authorisation - Simplified transaction and notification processes Read the full story on the Transport + Energy website: https://lnkd.in/er6zB4QF Paythru , Keith Brown , REA , Matthew Adams , Sara Sloman #transport #energy #electricvehicles #charging #payments

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Open Banking Excellence (OBE) Launches First of its Kind Open Banking in a Box Programme to Drive UK Ecosystem Expansion Abroad ✯ Helen Child ✯, Founder and CEO at Open Banking Excellence (OBE), said: “We’re proud to fly the flag for UK open banking around the world. Our Open Banking in a Box programme is the very essence of what a community is—bringing together global knowledge, expertise and diversity of thought to deliver a world-class service for Regulators. In parallel, pathfinding export opportunities for UK businesses. The UK has a vibrant marketplace and the best use cases in the world to share. We believe in shaping a regulatory narrative highlighting the importance of a use case-driven approach. Location, location, location! The well-known phrase, emphasises the importance of getting the fundamentals in place when building or buying a house. I’ve learned that thriving open banking & finance ecosystems are built on the foundations of use case, use case, use case! It all starts with the use case and comes back to the use case. It’s your North Star. We continue to leverage the UK’s leadership position in open banking, sharing the lessons learned to create thriving ecosystems, enabling economies and citizens around the world to have more control over their finances.”   https://lnkd.in/ed96YWXC #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Join this webinar on the hot topic of resilience in UK payments. Learn how the global banking system avoided crises thanks to payment and operational resilience. Discover why regulation SS1/21 is crucial for UK business continuity. Kevin Grant MBA and Richard Ransom will provide actionable takeaways for treasury and finance teams, covering the payments and compliance landscape, key learnings from banks, and more. Secure your spot now ➡️ https://ow.ly/qWnk50Rl3JO. #Treasury #Payments #UKBusinesses #UKFinance

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