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RedCompass Labs Insights

Retail Central Bank Digital Currencies (CBDC): Should banks start getting ready for them?

  These days, it is almost impossible to look at the financial services industry news or attend a webinar without Central Bank Digital Currencies (CBDCs) being mentioned. It looks like it is not a question of “if” anymore, but “when” CBDCs will happen. But what is behind this surge of interest by all the main central...
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COVID-19 impacts Machine Learning: how should we react?

Data is the new gold. Artificial Intelligence (AI), Machine Learning (ML) and Data Science (DS) are the tools needed to extract it. AI, for its promise, is often rooted in solving the problems of today. But ML is built on learning from large data sets. So, what happens when a pandemic hits, financial crimes thrive, and...
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SMEs Market: Challengers are switching gears. What about banks?

Small Medium-size Enterprises (SMEs) represent the backbone of our economies. And yet, this market has been hugely underserved from a financial services point of view. Far from being left untapped, new alliances between challengers are starting to emerge to fill the SMEs’ most urgent, and yet unmet, requirements. Should...
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Combination Of Data Analytics and ISO 20022 for an Inclusive and Profitable Banking

In our guest blog on Volante Technologies website, RedCompass Labs' Head of Payments Strategy, Julie Guetta, discusses the implications of banks' migration process from the MT payment message standard to the ISO 20022 format on the unbanked people. 
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What impact will global RTGS platform renewals have on banks?

The migration of financial messaging to ISO 20022 presents a golden opportunity for Central Banks to modernise their Real-time Gross Settlement (RTGS) platforms. Being built on ageing technology stacks that are inflexible and costly to maintain, many RTGS platforms are not fit to meet the demands of today’s global,...
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How Visa is pushing Open Banking boundaries and what we can learn from it

On the 3rd of February 2021, Visa announced its partnership with First Boulevard. First Boulevard are a digitally native neo-bank whose primary focus is to build generational wealth for members of the Black community. The initiative is part of Visa’s new cryptocurrency API pilot programme and marks the next phase of...
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Request-to-Pay: Ignore it at your own risk

From EBADay to our banks board rooms: Request-to-Pay is on everybody’s lips! But why has this overlay messaging functionality become a real buzzword? Request-to-Pay is the key missing ingredient to the end-to-end payment ecosystem of the future! But with ISO 20022 and Open Finance on the horizon, why should banks invest...
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Next gen cross-border payments focused on customer experience

A strong shift towards digitalization triggered by the outbreak of Covid-19 has enhanced the need for banks to improve the process of cross-border payments. Today’s customers require their international payments to be equally seamless as domestic transactions. To satisfy their needs, banks need to effectively compete in...
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How banks can use Regulatory Payments Programmes to Innovate

Banks typically use around 70 to 80% of their payment change budget to comply with regulations and industry changes. For example: the annual European SEPA rulebook and global SWIFT upgrades, the multi-year ISO 20022 migration, or in the UK the implementation of Open Banking and the New Payment Architecture. With only a...
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Insights: ECB's Target2 down for 11 hours. Now what?

On Friday 23rd of October, the European Central Bank Target2 system collapsed for eleven hours, leaving commercial banks critically exposed and unable to serve their customers through institutional rails. While another page in payments’ history has been written, we have looked beyond the headlines and analysed two...
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