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IndustryUpdate

supported by key stakeholders, the foundation added.

Nabis revamps cannabis payment solution

Nabis introduced Nabis Capital, a streamlined pay-
ment solution designed to provide upfront cash flow to
licensed cannabis operators. With its proprietary algo-
rithm, the company also offers tailored support struc-
tures and market trend insights designed to empower
cannabis operators for strategic growth. Akin to cash-on-
delivery, Nabis Capital offers 100 percent upfront cash
with a 24-hour processing time, aiding brand scalability
and market penetration strategies, the company noted,
adding that partners like Eaze and Bloom praise its flex-
ibility and impact on business innovation.
ANNOUNCEMENTS
Plug and Play debuts fintech startup accelerator
BHMI launches Configurable Summary
Plug and Play unveiled its fintech startup accelerator
BHMI added Configurable Summary to its Concourse program in Frisco and McKinney, Texas, in collabora-
Financial Software Suite to enable customized summa- tion with local economic development agencies. The
ries for specific reporting needs. Concourse manages initiative, Plug and Play stated, aims to cultivate a collab-
back-office payment processing and boasts continuous orative fintech ecosystem in North Texas. Startups in the
processing architecture, a centralized data repository program will gain mentorship, access to corporate part-
and a configurable rules engine. Leveraging real-time ners, and exposure to global connections through Plug
summarization, the new feature offers flexibility in and Play's extensive network, according to the company.
consolidating data attributes and time boundaries for Saeed Amidi, Plug and Play's founder and CEO, empha-
reporting, BHMI stated. With easy creation through con- sized the program's role in fostering fintech innovation
figurable rules, the company added, Concourse enhanc- and contributing to the region's economic growth. This
es decision-making, aligning with BHMI's mission to initiative follows Plug and Play's recent introduction of
provide flexible, powerful payment solutions. Sportstech and Enterprise & AI programs.
Brite Payments joins The Payments Association RESEARCH

Brite Payments joined The Payments Association EU as
a Patron Member, highlighting its dedication to indus- Banks continue to invest in tech
try collaboration amid European expansion. Known
for enabling instant account-to-account payments, Brite Dragonfly Financial Technologies Corp. shared insights
secured $60 million in capital in 2023, fueling its growth from its State of Banking survey, which was based on
and technology development, notably its Brite Instant interviews with more than 100 bank executives about
Payments Network, the company stated. TPA EU is their challenges, tech priorities and outlook for 2024.
dedicated to fostering collaboration among members Despite concerns over legacy technology dependency
to promote secure, innovative payment solutions. Brite and rising tech debt, 85 percent of respondents indi-
said it aims to support the association's mission while cated they remain optimistic about the banking industry.
addressing merchant needs and combating fraud in the Over half plan to increase or maintain tech spending.
evolving payments landscape. Key concerns for 2024 include deposit protection, as
well as fraud and staffing resources for digital banking.
GLEIF certifies MNS Credit Management Investments in real-time payments, fintech applications
and API banking are all on the horizon, researchers
MNS Credit Management Group Pvt. Ltd. earned found.
approval as a Validation Agent in the Global Legal
Entity Identifier (LEI) System, collaborating with Legal Ransomware attacks up 84 percent in 2023
Entity Identifier India Ltd. (LEIL). This New Delhi-based
B2B debt management firm's accreditation as the second NCC Group's Annual Threat Report revealed a stag-
Validation Agent in the region is expected to streamline gering 84 percent surge in global ransomware attacks
LEI issuance, meet rising demand, and enhance cli- in 2023, totaling 4,667 cases, compared to 2,531 in 2022.
ent and internal experiences. The Global Legal Entity New threat actors, including Hunters, DragonForce and
Identifier Foundation underscored the importance of WereWolves, contributed to the rise. Industrials were
Validation Agents in combating global criminality and the top target, with 1,484 attacks, followed by consumer
encouraged broader LEI adoption. The LEI's integration cyclicals and technology sectors. Threat actor LockBit
into ISO 20022 payment messages is gaining momentum was dominant, with LockBit 3.0 accounting for 1,039

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