April 24, 2024
Stripe Co-Founders Say They’re Building ‘Software-Defined Financial Services’
Today’s customers of the FinTech industry are no longer asking just for ways to accept online payments; they’re asking for “software-defined financial services.” So said Stripe co-founders Patrick Collison and John Collison Wednesday (April 24) during...
April 24, 2024
ComplyAdvantage Buys Golden to Bolster Financial Crime Fighting Tool
Financial crime intelligence provider ComplyAdvantage has acquired tech company Golden. As ComplyAdvantage noted in a Wednesday (April 23) news release sent to PYMNTS, Golden is “automating the construction of one of the world’s...
April 23, 2024
AI to Boost Weather Forecasts, Businesses Hope for Profits
Advancements in artificial intelligence (AI) may drastically improve the accuracy of weather predictions, potentially increasing profits for businesses that rely on forecasting. Google has introduced a new AI model capable of...
April 23, 2024
Bite-Sized AI: Why Smaller Models Like Microsoft’s Phi-3 Are Big for Business
Smaller artificial intelligence (AI) models, like Microsoft’s recently unveiled Phi-3-mini, are proving that bigger isn’t always better for business applications. These lightweight, efficient models can tackle content creation and data analysis without the hefty computational requirements...
April 23, 2024
Figure Names Brex Veteran Michael Tannenbaum as CEO
Figure Technology Solutions has named Michael Tannenbaum as CEO and a member of the board of directors, effectively immediately. The company’s previous CEO, co-founder Mike Cagney, has assumed the role of executive chairman, Figure...
April 23, 2024
Microsoft Debuts Smallest AI Model as AI Eludes Small Businesses
Microsoft has introduced its smallest artificial intelligence (AI) model, aimed at businesses with limited resources. The company’s Phi-3-mini can perform tasks like content creation for social media while using less...
April 23, 2024
Spike in Identity Fraud Forces Banks to Embrace Innovation
To the hammer of a bad actor, everything vulnerable looks like a nail. And with the rise of sophisticated fraud techniques, organizations like financial institutions that are operating within security-critical...
April 23, 2024
90% of FIs Say a Fraud-Prevention Vendor’s Reputation Is Key...
More than 40% of financial institutions (FIs) report seeing increasing volumes of fraud and financial crimes, according to PYMNTS Intelligence data. Faced with this onslaught of illicit activities, it’s little...
April 22, 2024
Verizon Focuses on AI Priorities as Customer Losses Slow
Verizon is crediting flexible price plans and streaming bundles for its slowing customer losses. The wireless provider on Monday (April 11) reported that it lost 68,000 monthly wireless phone subscribers during the first quarter of...
With more than two-thirds of CFOs citing payment delays as a problem for their firms in the last six months, nine in 10 companies wish to expand their investment in AR automation to accelerate order processing, reduce invoicing errors and expedite payments. In the “Working Capital Tracker®,” a collaboration with Billtrust, PYMNTS Intelligence explains why the demand for AR automation is growing and what’s at stake for companies that opt out of this trend.
Forty-six percent of FIs say the fraud risks of providing open banking outweigh the benefits, but the share of skeptics rises to 57% among FIs that experienced increased fraud. PYMNTS Intelligence’s latest study of 200 FI execs, “How Fraud Fears Impact FIs’ Adoption of Faster Payment Solutions,” a collaboration with Hawk AI, details why FIs are cooling toward open banking but staying the course on real-time payments.