Meta to pay $1.4 billion to settle facial recognition data lawsuit
The settlement is said to be the largest accord of its kind by any single state.
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Tag: identity
Weekly news roundup Middle East & Europe – July 19th
Welcome to this week’s weekly news roundup, where we bring you a quick overview of the latest developments in finance, payments, retail, e-commerce and more across the Middle East and Europe regions.
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Banks in Singapore to phase out OTPs in favour of digital tokens
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have said the country’s major retail banks will soon phase out the use of One-Time Passwords (OTPs).
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European Banking Authority expands ‘travel rule’ to tackle money laundering
The European Banking Authority (EBA) has expanded the so-called ‘travel rule’ to help tackle money laundering and terrorist financing.
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Report: Online gaming emerges as hotspot for identity fraud
A new report has shown that while fraud attempts are still highest in the Payments sector, Gaming has become a new hotspot for potential fraudsters.
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5 firms doubling down on Web3 and digital identity in 2024
Given the growing emphasis on decentralized identity solutions and self-sovereign identity models here are five firms doubling down on web3 and digital identity in 2024.
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Sudin Baraokar: “Businesses need a proper big data strategy and a good structure in place”
Seamless Xtra Editor, Mark Dowdall, speaks with global AI & digital transformation advisor...
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EDEKA Jaeger introduces AI-powered age verification at self-service checkouts
Travellers at Stuggart Airport can now use AI-powered age verification technology to automatically purchase age-restricted good like alcohol.
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UAE retail sector is losing millions on payments fraud, report finds
The retail sector globally lost $429 billion to fraud in 2023 while in the UAE, businesses on average encountered losses of approximately AED 11 million.
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UK retail sector loses £11.3 billion to payment fraud annually – Adyen
The UK retail sector is losing billions to payment fraud annually, new research from global fintech platform Adyen has revealed.
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Multi-biometric system handles ‘one million’ passengers at Zayed International Airport
Zayed International Airport has successfully processed over one million passengers through Abu Dhabi’s new terminal since its inauguration, last November, marking a milestone in travel efficiency but also showcasing the power of biometric technology.
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EQ Bank partners with Trulioo to enhance identity verification
Canada’s EQ Bank has partnered with Trulioo to enhance its identity verification process including a focus on three key areas.
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Klarna rolls out sign in service to fast-track online purchasing
Payment provider Klarna has launched a new “Sign in with Klarna” service, designed to enable a smoother shopping experience and increase consumer control over their own data.
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Facephi partners with Temenos Exchange to expand identity verification
Facephi has expanded the availability of its identity verification solutions to Temenos Exchange, an open marketplace which offers pre-integrated and approved fintech solutions.
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Emirates NBD partners with Silent Eight to automate alert disposition
By deploying the Silent Eight platform, Emirates NBD is aiming to reduce reliance on human investigators, lower operational costs and minimise delays and requests for information caused by false positive alerts.
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Interview: E-commerce in the Philippines and why its future will be mobile-based
Edmon Joson, Chief Product Officer of Tonik Digital Bank and Carlo Brillantes, Head of Fintech at Foodpanda talk payments, identity and addressing unique cultural needs in the Philippines.
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New money laundering measures to include cash payment limit across the EU
The European Parliament and Council has finalised a deal to beef up measures to fight money laundering, including a European Union-wide limit on large cash payments of 10,000 euro.
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Aware and Avanza partner to provide biometric authentication for banks and fintechs
Aware and Avanza Solutions have announced a new partnership that aims to expand biometric authentication to fintechs in the world’s two ‘fastest-growing’ regions for financial services.
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Kingston Technology: Privacy and data security ‘imperative’ for financial organisations in the Middle East
So far, 2023 has seen record-high costs due to data breaches in the Middle East, with finance ranking as the most targeted sector. Kingston Technology Europe is calling on banks and investment firms to be more pre-emptive in their approach to data security.
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Nigerian government partners with eGate and Visa on digital ID and payment card
The Nigerian government (Nasdra) has agreed a deal with eGate and VISA, to enhance the country’s digital infrastructure and provide citizens with digital identity and unified payment cards.
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