Visa, AIB & More: Top 5 Stories of the Week in Finance Chief

MoneySuperMarket: 2 in 5 SMEs Use Social Media for Advice

New data from MONY Group’s MoneySuperMarket highlights recent data about business owners of varying age and size turning to social media for advice.

MoneySuperMarket has conducted research ahead of Social Media Day to shine a spotlight on how social media is used by SMEs. 

Some SME owners use data to influence decisions, a statement that anyone who has sat in the chair of the controller is familiar with. 

While data can be the most influential, research from insurance expert MoneySupermarket actually highlights how businesses are turning to social media for advice on how to run their business. 

The research shows that, out of the surveyed 390 decision makers, 41% used social media to get advice on how to run the business. 

The survey asked UK business decision-makers what they used social media for, and how that affected business. 

AIB's New App Aims to Deliver Meaningful Financial Insight

Focusing on trust and usability, AIB's new banking app is designed to provide customers with advanced security and innovative UI systems.

Allied Irish Banks (AIB) has unveiled a redesigned mobile banking application that represents what the institution describes as its most substantial mobile channel transformation in more than 10 years, with the phased rollout commencing at the end of June as part of a broader strategic repositioning towards delivering what it characterises as a complete financial experience that extends beyond traditional transactional banking services.

The initiative responds to evolving customer behaviour patterns that AIB's research has documented, showing that whilst 76% of adults in Ireland check their banking app multiple times weekly, 47% rarely use the platform for financial insights, indicating a broader industry challenge where high engagement rates do not necessarily translate into meaningful financial empowerment for users.

Nuvion Adds Visa Direct to Speed Cross-Border Payments

International payments no longer take weeks to clear, but businesses continue to expect faster and more reliable money movement as global commerce becomes more connected.

As companies manage suppliers, contractors and customers across multiple markets, real-time payment delivery remains an operational challenge. Organisations operating around the clock increasingly expect funds to arrive without delays, making payment speed an important part of treasury management and day-to-day operations.

To address these demands, Nuvion announces a partnership with Visa Direct that expands its real-time global payout capabilities for businesses operating across borders.

Olga Ovchinnikova, VP Head of Visa Direct Europe, says: “By partnering with Nuvion, Visa Direct is helping power faster, simpler cross-border payouts so companies can move money globally with the same speed and confidence they expect locally.”

Rafael Sueiro, CFO at Radisson Hotels: Know the Business

Rafael Sueiro, EVP & CFO at Radisson Hotel Group, speaks to Finance Chief about how the evolution of the CFO must include AI

What could a luxury hospitality brand know about AI? 

Evolving with the business means adapting to new, sometimes fascinating, technology. Seamlessly combining a career from working in auditing and corporate finance at some of the big four consulting firms – mainly at Arthur Andersen and Deloitte – to working in major hospitality companies in telecom and hospitality, Rafael Sueiro has built the perfect resume for his current role as Group CFO at the Radisson Hotel Group. 

How Visa's Threat Platform will Combat Payment Fraud

President Oliver Jenkyn and CTO Rajat Taneja spoke at the Visa Payments Forum (VPF) in Paris, where the Visa Threat Intelligence Platform was announced. 

Visa has launched a new commercial solution designed to help financial institutions identify and counter cyber threats before they translate into fraud and financial loss.

Fraud is widely recognised across the corporate finance sector as the consequence of earlier, sometimes preventable, cyber incidents. These infrastructure breaches often begin with data compromise, credential theft or system exploitation well before a fraudulent transaction is ever initiated, according to the Financial Services Information Sharing and Analysis Center. 

The Visa Threat Intelligence Platform (VTIP) allows clients to access the exact cybersecurity capabilities that the global payments giant uses to safeguard its own massive global network.