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On 17 July 2019 in Brussels, SWIFT – a member-owned cooperative that brings together more than 11,000 banking organizations, securities institutions and corporate clients, announced enhanced global payment innovation (gpi) for corporates. WHAT IS GPI? Originally rolled out in 2017, the SWIFT gpi service aims to improve cross-border payments. The objective is to provide money transfers within 24 hours with constant end-to-end tracking and transparency throughout the entire payment chain. Previous...

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Customers want banking to be fast, simple and affordable, providing seamless secure digital experiences across multiple channels. On the other hand, fraudsters are devising increasingly sophisticated tools and techniques, benefiting from the large quantity of breached identity data flooding the web. As the banking sector evolves, so does fraud. To stay one step ahead of fraudsters while providing a high-quality customer experience with the ever increasing pace of digitalisation, banks and finan...

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Towards the effective implementation of the digital strategy and information system improvement, Ukrainian Vostok Bank and Solanteq signed an agreement for the launch of SOLAR Retail Banking - a modern processing product for all types of retail operations. Vostok Bank and Solanteq started their partnership in 2014 from the implementation and support of the internet and mobile applications. COMBINING ALL IN ONE Referring to the present agreement it is planned to implement universal banking ...

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3-D Secure 2.2.0 (3DS2) — the new authentication protocol for online card transactions — is a truly exciting and welcome innovation. 3-D Secure 2.2.0 is designed to improve on its predecessor by reforming the weak points of the previous protocol. This next version of the 3DS is created especially for friction reduction in the transaction process to help improve conversion. 3DS2 offers advanced machine learning algorithms for better risk assessment. The new algorithms provide seamless data excha...

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Banks and credit unions must anticipate consumer needs and revamp their products in a way that brings about the most effective mix of capabilities, processes and people. THE PAYMENTS EVOLUTION HAS BEEN, AND WILL CONTINUE TO BE, ONE OF THE MOST DYNAMIC DRIVERS OF INNOVATION IN BANKING What defines an innovative payment transaction system and how is SOLANTEQ helping its clients to best position themselves in the constantly changing global payments world? IMPORTANCE OF THE ONGOING BANKING EVOLUTI...

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Since the first Quick-Response (QR) code appeared in 1994 and until now no such visible bridge between the offline and online worlds has emerged. Those blocky black and white squares of digital information seemed destined to become a big thing, and they did. Nevertheless, the popularity of QR codes varies and they still have a mixed reputation around the world. STILL RELEVANT IN 2019? QR code compared to barcode has significantly increased information capacity, since it encodes information in b...

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PASHA Bank, the largest private bank in Azerbaijan, has launched a loyalty program in partnership with Solanteq. Together with Turkish Airlines, the bank has introduced the PASHA Bank Miles&Smiles card. The rewards program is open to both customers of the bank and any individual. There are two types of Miles&Smiles debit card – World Black Edition and World Elite. Program members are given the opportunity to earn miles by making purchases and receive extra miles from program partners. C...

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