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Articles by Otto Benz
CFIT Forms Industry Coalition - ‘Fighting Economic Crime Through Enhanced Verification’
A new industry coalition will be formed to fight economic crime through enhanced verification, the Centre for Finance, Innovation and Technology (CFIT) has announced today. The coalition will bring together experts from a broad range of fields including finance, technology, policy, academia and others, to devise solutions for detecting fraud, protecting SMEs and bolstering defences against crime such as Authorised Push Payment (APP) fraud.
Nationwide Building Society Selects Auriga to Modernise its ATM Channel
Auriga, a global software provider for the omnichannel banking and payments industry, today announced a major new contract with Nationwide, the world’s largest building society, to provide a new software solution to run, manage and secure the ATMs installed across its UK branch network. Nationwide offers a full range of banking services and has the biggest branch network in the UK, with a “branch promise” that everywhere that has a branch now; we still have one until at least 2026.
Nationwide Building Society ATM cash withdrawals rise for second year in a row
PA Wire The number of cash withdrawals from Nationwide Building Society’s network of ATMs has climbed for the second year in a row, following more than a decade of declines. Some 31.36 million cash withdrawals were made from its network of more than 1,200 ATMs last year – up from 30.21 million in 2022 – Nationwide said. It marked the second annual increase in a row, with 2022 having seen the first rise in cash withdrawals for 13 years, according to the Society’s data.
Nationwide Building Society to Modernize its Digital Payments System in the Cloud with Accenture and Form3
Nationwide Building Society has selected Accenture (NYSE: ACN) and Form3 to transform its digital payments infrastructure through the adoption of a cloud native platform, aiming to enhance the customer experience with seamless, secure and fast transactions. As digital payments continue to grow, the cost-efficient solution has been designed with resilience and compliance at the core, enabling Nationwide to adapt its operations to meet regulatory changes such as ISO 20022.
Nationwide records jump in ATM withdrawals as people use cash for budgeting
The society said more than 30.2 million cash withdrawals were made from Nationwide ATMs last year, marking an increase of 19% compared with 2021. It said that, in recent years, the number of cash withdrawals had been steadily declining, with a particularly sharp drop seen at the start of the coronavirus pandemic. Bank branch closures have sparked concerns about people’s ability to continue to access cash.
Otto Benz, Nationwide in 'The Fintech Magazine'
The shocking rise in financial fraud is driving UK banks like Nationwide to adopt a new approach, as its Director of Payments Otto Benz explains 2021 was something of an annus horribilis for many unwitting consumers in the UK, with fraud victims conned out of an incredible £1.3billion. Digging a little deeper into the data, there were 195,996 separate instances of authorised push payment (APP) scams, which saw Brits tricked into handing over £583.2million last year.
How can PSPs strive for effective operational resilience within an instant payments ecosystem?
How can PSPs strive for effective operational resilience within an instant payments ecosystem? 02/07/2019 By Otto Benz, Payments Technical Services Director, Global Payments, Lloyds Banking Group In a digital world, there is an expectation that services will be provided in real time. Instant payments facilitate the supply of goods and services, and are therefore vital to ensuring the wheels of the economy keep turning.
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