Blog

Even though we are all grown up now and take life much more seriously than we used to do as kids on a playground, an enjoyable game still has a good chance of helping us reclaim our inner child. It is of no surprise that businesses use game principles to attract new and encourage existing customers to perform certain activities or motivate specific behaviors among a target group. BUSINESSES USE GAMES AS A MARKETING TOOL TO DRIVE CUSTOMER ENGAGEMENT The first study on the principles of people’s ...

Continue reading

Dear Ladies and Gentlemen, fasten your seatbelts and prepare to land in the year 2020. The business climate at your destination is very favorable for the financial sector albeit certain challenges are expected from time to time. We wish you an enjoyable stay, that you contribute to the development of pioneering technologies, and victory in the competitive world of banking. The key technological advances and recent trends have been discussed for more than 5 years by the prime movers of the banki...

Continue reading

Solanteq has successfully completed the EMV certification of SOLAR ACS and confirmed that it meets the requirements of 3-D Secure 2.1. SOLAR ACS performs user authentication in accordance with the 3-D Secure 2.1 standard, supports various card-not-present transaction types and flexibly integrates with existing bank subsystems. The solution is designed to effectively prevent fraudulent activities based on an embedded set of rules and by tracking suspicious user behaviour. SOLAR ACS PROVIDES SE...

Continue reading

There is no doubt that the emergence of artificial intelligence has garnered considerable attention across society. And it has already had a major impact on our daily activities. The mysterious hidden algorithms that recognize which ads we will be interested in, scan our activity in social media and online shopping stores, and answer questions in chatbots are making our lives increasingly productive. WHAT IS THE DIFFERENCE BETWEEN ARTIFICIAL INTELLIGENCE, MACHINE LEARNING AND DATA SCIENCE? The b...

Continue reading

A two-day event was held on the topic: ‘The Cashless Economy: Towards Sustainable Banking’ in Baku, Azerbaijan on 6-7 November. Solanteq was the main sponsor of the event. Non-cash payments are in great demand on the financial market all over the world. As a result, it is vital to build and evolve the digital payment ecosystem to ensure banks and financial institutions remain competitive. THE CASHLESS ECONOMY: INITIATIVES AND CHALLENGES Mikhail Alekseev, Head of Digital Transformation...

Continue reading

We all know that nowadays you don’t need to carry cash in the wallet to make a purchase. And thanks to mobile technologies people can now even leave their bank card at home. But what is really amazing is that now consumers don’t need to have a payment card at all, which brings never-before-possible convenience to clients. Digital banking is on the up and people can manage their finances on the go, experiencing truly personalised retail banking services. A BETTER WAY TO HANDLE MONEY The digital ...

Continue reading

Today it is hard to find a global bank that does not offer mobile banking services. And apps are no longer just a convenient way to check your balance, they are an integral part of the banking experience and highly valued by consumers. Despite people complaining that smartphones are killing face-to-face interaction and hate it when others are phubbing, for the time being smartphones constitute the best way to access the digital world and multiple bank services. MOBILE BANKING IS NOT JUST A FAS...

Continue reading

The People’s Bank of China (PBOC) is preparing to become the first major central bank to issue a digital version of its currency — the yuan, seeking to be abreast with and in control of an evolving economy. Unlike cryptocurrencies such as Bitcoin, payments with the digital yuan will not be totally anonymous, and its value will be as stable as the physical yuan. WHY IS THE CENTRAL BANK DOING IT? There are important regulatory and political considerations why implementing a digital currency in Ch...

Continue reading

The new cryptocurrency Libra was introduced by Facebook three months ago, on 18 June 2019. It is expected that the launch of the Libra at the global level will take place in the first quarter of 2020, and testing will begin at the end of 2019. Libra will be integrated into Facebook Messenger and WhatsApp, users will be able to utilize it to make purchases on Instagram and, possibly, in other services that will become partners of the Libra ecosystem. KEY POINTS The most important thing with the ...

Continue reading

With the rapid pace of digitalisation and the constant growth of e-commerce, easy and instant cashless payments are becoming a must-have for consumers of financial services. The past few years have seen the fast development of national fast payment systems in compliance with the ISO 20022 international financial communications standard. Currently countries are one by one implementing local, instant real-time payment systems, including: Europe – SCT Inst, Australia – NPP, India – UPI, Sweden – S...

Continue reading