News & Events

Volante Technologies, operator of a cloud-based Payments as a Service platform, has achieved Fedwire Funds Service certification for the ISO 20022 messaging capabilities of its wire payment processing services. Certification gives Volante customers a fourteen-week pathway to ISO 20022 compliance for their own wire payments operations. Customers include four of the top five global banks and two global card issuers.

Visa has updated its Visa Account Attack Intelligence (VAAI) by adding a VAAI score that uses generative AI to identify and score enumeration attacks for issuers. Enumeration attacks use sophisticated technologies like automated scripts and botnets to amplify their card testing attacks, allowing fraudsters to better exploit vulnerabilities in card-not-present transactions. The VAAI Score will be available to US issuers first.

Unit21, a company that mitigates risk tied to money laundering, fraud, and other illicit activities, has launched two new products — ACH Risk Scores and Action Event Rules. Both are designed to combat faster-payment fraud while delivering near-instant funds to legitimate customers. ACH Risk Scores creates a machine learning score that allows customers to proactively block accounts that exceed set chargeback thresholds. Action Event Rules helps financial institutions monitor and act on non-transactional actions, including login attempts, password changes, address updates, and modification of user or account details.

Synchrony, the largest private label credit card issuer in the US, has integrated its financing technology into the ServiceTitan platform, which is built to serve trades. The integration will support contractors wanting to offer financing to their customers. The service will leverage Synchrony’s direct-to-device application process and pre-fill technology.

PayNearMe, operators of the MoneyLine payments platform for iGaming and online sports betting, will integrate Trustly's open banking services, allowing clients to accept guaranteed ACH deposits. Clients will also be able to instantly transfer winnings into players' bank accounts without requiring them to enter their bank account details.

The Federal Reserve Board and the Office of the Comptroller of the Currency will hold a joint public meeting on July 19, 2024, at 9:00 a.m. EDT on the proposal by Capital One Financial Corporation to acquire Discover Financial Services. The meeting will be held virtually. The purpose of the public meeting is to collect information from a wide range of stakeholders as the agencies evaluate the proposed applications. Members of the public seeking to present oral comments must register by 12:00 p.m. EDT on June 28, 2024. Comments on the applications will be accepted through July 24, 2024.