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Ukraine
Member since
2021
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Yuri's blog archive

2023 (13) 2022 (1) 2021 (3)
Yuri Kropelnytsky

Yuri Kropelnytsky

Payments Expert at Softjourn, Inc.
Message Message me Posts: 18 Comments: 4
Bio Yuri Kropelnytsky is Softjourn's Payments Expert, with over ten years of experience working with payment processors. He has worked with one of the largest Eastern European card processors, including coordinating long-term support of the processing system and leading the development of new processing software. His experience includes programming smart cards, EMV chips, HSMs, key management, and ATM programming. Career History Developer, Team Lead, Project Manager, Payments Expert

Blogs

Banking Strategy, Digital and Transformation

How BaaS Is Helping Banks and Fintechs Compete in 2023

24 May 2023

Over the past decade, the fintech industry has experienced a significant surge, primarily driven by the absence of dependable customer service, outdated interfaces, and limited innovative tools and features. The Driving Force Behind Banking Development Banking as a Service (BaaS) has the potential to facilitate rapid and effortless expansion of ser...

Banking Strategy, Digital and Transformation

ML in Finance: Is it the Silver Bullet for Preventing Fraud?

17 May 2023

The projected increase in fraudulent transactions is estimated to be $6.5 billion between 2021 and 2027, and its impact on the finance industry is expected to be significant. Financial institutions are prioritizing proactive fraud prevention as they seek effective solutions to minimize fraud and enhance the overall security of their clients. Mach...

Banking Strategy, Digital and Transformation

Cross-Border Payments Guide: What Can We Expect in 2023?

10 May 2023

Introduction In recent years, it has become easier than ever to move businesses and money into the global economy. This has prompted banks and fintech companies to invest in more efficient technologies for cross-border payments. In the past, such payments were slow, complex, inefficient, costly, and time-consuming, involving multiple banks with unc...

Banking Strategy, Digital and Transformation

Open Banking: Will PSD3 Regulations Change Everything?

03 May 2023

PSD3 Regulation: What To Expect and When? A recent survey by the Thales Group revealed that a staggering 38% of users are willing to switch to another provider offering better rates or services, highlighting the cut-throat competition within the banking and financial services industry. However, with regulations like the Second Payment Services D...

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Yuri is Commenting on

The Latest Technologies for Banks to Detect and Prevent Credit Card Fraud

  The figures you question are pulled from numbers from https://www.security.org/digital-safety/credit-card-fraud-report/2021/ . Feel free to take your complaints up with their researchers. Many other researchers (including the FTC) state similar statistics. Do you have some other sources you'd like to share, or are you going based on your own personal feelings?

19 Apr 2023 Reply Read article

Get Ready for the Launch: A Fintech Guide to the FedNow Payment Service

  Oh that subject, it is unlikely ACH will be completely replaced by FedNow, at least for the time being. The Federal Reserve aims to provide a faster, more convenient alternative to ACH that will benefit both individuals and businesses. Although FedNow payments will be faster and potentially more secure, they likely will come at a greater cost for users.

10 Apr 2023 Reply Read article

Get Ready for the Launch: A Fintech Guide to the FedNow Payment Service

  This is an article that describes the US Federal Reserve's incoming transition from ACH to RTP FedNow. RTP Zelle was not developed by the Federal Reserve, but by a private financial services company. On the other hand, the Fed supported development of the Automated Clearing House Network (ACH) system in 1972 and began managing a national network of linked local ACH networks in 1978. Now the Federal Reserve is developing FedNow.

07 Apr 2023 Reply Read article

Build vs. Buy Fintech Software: A Guide to Choosing the Best Approach for Your Product

  Hello Ketharaman, thank you for reading and for your question. In reality, the classical definition of fintech is not limited to simply companies that compete with traditional banks, but many other financial services. And yes, this does include spend management (the example you stated). In our industry, we use the term 'fintech software' as an overarching category to describe all sorts of systems, including, but not limited to: payment apps, prepaid card apps, banking apps, remittance apps, money transfer apps, payment gateways, accounting & expense management systems, mobile wallets, lending apps, blockchain & cryptocurrency, compliance technology, and so on. There are many reputable sources citing this broader definition of fintech and the types of examples I stated, including Columbia.edu, Forbes Advisor, and CFA Institute. Would you please tell me your source that suggests corporate spending software is not considered financial technology software?

02 Feb 2023 Reply Read article