As financial fraud evolves in the digital age, the picture that emerges is a complex one. On one hand, fraud in 2022 was at its lowest rate since 2014, affecting 65% of organizations. Signs also indicated that companies were duly implementing measures to combat it,...
For every new fraud scheme that pops up, dozens of FinTechs are responding to quash it. Yet despite their expertise in cutting-edge technology, FinTechs are far from invulnerable to attacks themselves. A recent PYMNTS report found that FinTechs, on average, lose $51 million every year...
Banks’ and FinTechs’ pursuit of collaboration in recent years is an especially positive development, given that United States regulation around open banking likely will make it a necessity. In October, the Consumer Financial Protection Bureau (CFPB) unveiled an open banking framework that will have far-reaching...
Nearly all banks view FinTech partnerships as important, but the partnership dynamics will be put to the test as new open banking regulations go into effect in 2024. PYMNTS examines what will be required as banks and FinTechs will rely on each other for data...
November 22, 2023
Buy now, pay later (BNPL) continues to grow in the payment space, and its impact on consumer finances is even more important. Not only are consumers using the method more to pay for goods, but it is becoming a financial solution for those navigating high costs and inflation. With rising usage comes a rising need […]
