Top Priorities for Finance Leaders 2024Much discussion has concerned the chief financial officer’s (CFO) evolving function and duties. There is a lot for advanced finance leaders to deal with, from social and regulatory efficiency to personnel management. If you’re a CFO who needs help figuring out where to begin or a C-suite executive who wants to assist your finance executives in easing into their new positions, here’s a useful guide …
How to Scale Fintech InternationallyConstant scaling is how a fintech startup manages to keep up with the tempo in the industry. Going global is probably the most challenging part of the scaling strategy and must be approached wisely. But answer yourself: are you willing to put an effort and investment into scaling to potentially multiply your revenue? If so, this article can your your starting point. South America, Asia, and Europe …
ISO 20022: Transforming the Financial Industry with Standardized MessagingThe adoption of ISO 20022 brings to mind the tale of the Tower of Babel, but with a twist — instead of confusion, it’s about creating a unified language. No matter how brilliant your idea, years of effort can go to waste if your team communicates in different languages, just like people in Babel. However, imagine a scenario where everyone communicates in the same language and understands …
How to Secure Your Mobile App: Best Practices for Developers and BusinessesAs the VP of Engineering at DashDevs, I’ve been in the tech trenches for over a decade, getting my hands dirty with everything from fintech products in the UK, US, and MENA region to integrating a whopping 250+ payment methods. I’ve had the privilege of collaborating with financial institutions all over the globe, and let me tell you, it’s been quite a ride! But no matter what …
Compare KYC Providers to Protect Your Clients: Veriff, Onfido, or PlaidAre you searching for top KYC solution providers but drowning in a sea of choices? I get it. That’s why, at DashDevs, we’re about real solutions. With 12 years of hands-on experience and a track record of integrating 70+ KYC fintech providers for hundreds of successful projects, I can share with you the knowledge of how it works. KYC data providers are the backbone of fintech …
KYC: Fraud Detection In Fintech AppDespite tons of innovative security measures, fintech companies always face different types of fraud. From April to June in 2023, investment fraud emerged as the most financially impactful compared to other cyber crimes, resulting in losses of £135.2 million. Can you imagine your business losing tons of money just in one wrong click? Unfortunately, it happens every day. On average, fintech …
Plaid’s Legacy In The Fintech Industry: Insights, Value, And SecurityYou probably have an exceptional idea for a fintech startup, one that has the potential to transform the financial industry. However, there’s a challenge. You may not be well-versed in integrating various tools and technologies in your future product, including solutions like Plaid, which are essential in fintech. This is a common barrier that many developing fintech entrepreneurs encounter. …
Guide to Financial Data Aggregation and Open BankingThe world of fintech is dynamic and unstoppable; new ideas and products constantly emerge, catering to entrepreneurs, startups, and businesses seeking to enhance their offerings. If you’re here, you likely have an idea needing realization. Or maybe you aim to refine an existing product to perfection. I’m Vladyslav Slipchenko, and I am ready to share my expertise on data aggregators …
Revolut's SegWit Wallet Integration: A Win for Bitcoin UsersBitcoin, the world’s leading cryptocurrency, has captured the hearts of millions, with its user base growing extremely fast during the last decade. As of the latest statistics, over 400 million people actively engage with Bitcoin worldwide as of 2023, showcasing the rising influence of decentralized digital currencies. On the other side of the spectrum stands Revolut, a trailblazer in …
Electronic Money Institution vs. Payment InstitutionIn the exciting world of fintech, each decision shapes the future of companies desiring to succeed in a rapidly evolving landscape. When companies enter the fintech industry, they must decide between becoming an Electronic Money Institution (EMI) or operating as a Payment Institution (PI). Now, let’s go back to the late 2000s when vital decisions were accepted and changes happened. The …
How to Unlock the Future of Financial Services with Decentralized Identity (DID)Our lives become increasingly digital. We often need to verify our identities for various activities: buying a car, applying for a mortgage, or signing up for new services. However, the current methods of authenticating users and establishing trust online are inconvenient and burdensome for both users and businesses. These methods also compromise users’ privacy. The security and trust of …
Boost Your Fintech Integration Game: The Power of Bi-Directional ApproachFor fintech solutions, data management and synchronization are as crucial as security or seamless processes. This article in particular is about the latter. I will unravel the complex and niche matter of bi-directional approach and how it can change fintech. After reading this blog post you’ll learn what bi-direcational integration is. Discover how it can help you smooth out business processes and …
Revolutionizing Business Operations: The Power of Smart ContractsFinancial technology, or ‘fintech,’ refers to the use of computer algorithms or technology to enhance the financial industry. Since early 2014, government agencies, businesses, customers, and researchers have been closely monitoring the sector. Although blockchain initially gained recognition as the distributed ledger for Bitcoin, it has now gained popularity for use in other fintech …
Banking and Cybersecurity: How to Avoid Threats?The rise of digital banking has brought many benefits to the banking and financial industry, including convenience, speed, and increased accessibility to financial services. However, it has also increased the risk of cybersecurity threats for banks and their customers. With the increasing sophistication and frequency of cyber attacks, it is more important than ever for banks to prioritize …
Best Practices for Account Verification ProcedureIn the face of fintech software development practice, account and identity are almost the same. Related institutions empowered to monitor banking activities don’t recognize individuals or organizations—they process transactions. However, before validating any notable digital movement, they need to verify your identity. Fortunately, present-day banking operations are easier to perform with the help …
Money Laundering in Dark Business: Who, Why, and HowDoes money laundering sound like a practice directly from a detective novel? Or maybe it’s a well-crafted fictional scheme laid out in, say, Ozark, a TV series by Netflix where a financial advisor helps launder money for his drug boss? No matter how obviously illegal and fraudful this may seem to occur in the present-day world, when large criminal enterprises get too much cash, they need to clean …
How Does a Digital Ledger Work in the Banking Sphere?A distributed ledger, shared ledger, distributed ledger technology, digital ledger, or virtual ledger — you may come across all these words as variations related to one umbrella term. So, what is a digital ledger? In simple terms, that’s a book of record that serves the perfect data storage and shares it among the different sites, network entities, and geographies. Still not absolutely clear …
Tokenization vs. Encryption: Pros and Cons in Payments ProcessingWhat if we picture our world as a place where all the input data on any device flows through fiber-optic cables and servers in its original form? Although the roots of encryption reach Ancient Egypt of about 1900 BCE, its digital variant emerges on a par with first computers. Already in 1977, the U.S. National Bureau of Standards approved the first encryption standard. By the way, it has already …
Fintech Risk Management: Protect Your Company In a CrisisCOVID has reshaped the global economy, and fintech startups are not immune. The enormous global downturn has put pressure on businesses in every sector, and many are struggling to survive. But the pandemic is not the only crisis fintech has faced or will face. Some of those crises are external, as with COVID, but many are caused by internal factors. Risk assessment and risk management are key for …
All You Need to Know About California Consumer Privacy Act 2020Before the 1st of January 2020, many world-wide businesses had started to update their digital assets to become compliant with a California Consumer Privacy Act that recently has taken effect and amended the California Civil Code. Application users are snowed under email and mobile app notifications with Privacy Policy updates. For the last few years, all countries have started to pay additional …