The old-fashioned check looms as a 2023 flashpoint in the battle vs. the fraudsters. Criminals steal checks from mailboxes. Enter the search term “check washing” into any search engine and headlines have massed over the past several weeks, citing businesses and banks that have been...
Amid an array of healthcare data and reams of medical payments handled by banks exists a triage opportunity. This, as inroads are being made to decades-old standards used by both sides, to make it all more cohesive and interoperable. “Especially in the healthcare industry, as...
Artificial intelligence (AI) is helping increase access to financial services in Africa. In recent years, advances in machine learning, a type of AI, have had a profound effect on the delivery of financial services, helping to democratize access in Africa’s emerging economies. For example, it...
Many FinTechs got walloped in 2022 for bloated valuations, which is increasing the focus on fundamentals and partnerships. PYMNTS’ Karen Webster recently discussed what that means for the industry with i2c CEO Amir Wain and Payoneer Co-CEO Scott Galit. Galit said it’s forcing a return to more rational valuations based on providing...
Using data from receipts to personalize loyalty programs has great potential rewards for merchants, so long as they partner with financial firms ready for the task. Item-level receipt data provided by the right financial institution (FI) or FinTech can be a valuable merchant tool for...
The Nigerian FinTech Fincra has received a payment license from the Central Bank of Nigeria (CBN). In a blog post Thursday (Jan. 19), the company stated that it had received its commercial Payment Service Solution Provider (PSSP) license, following previous approval in principle from the CBN. Fincra...
Big banks’ earnings have shown the great financial services digital shift continues. J.P. Morgan, Bank of America, Citi and Wells last week provided variations on several themes: A mild recession seems a real possibility this year. The specter of credit losses requires prudence and a...
Bank of America CEO Brian Moynihan claims the company has “hundreds” of blockchain patents. The issue in deploying the technology behind those patents? The all-important fact is that there exists little regulation in the crypto and blockchain space and that Bank of America says it sees even...
Small businesses represent 99.9% of all businesses in the United States, and there were 32.5 million small businesses operating as of 2021, according to a report. On average, it takes four days to launch a small business and roughly one-third begin with less than $5,000....
