Banks can give customers more payment choices without giving them more decisions to make. That’s the opportunity outlined in “Why Multi-Rail Strategy Is Banking’s Next Competitive Edge,” an October PYMNTS Intelligence report produced in collaboration with The Clearing House. The report examines how banks can...
Revolut’s valuation has climbed to $115 billion with its latest round of funding. The U.K. FinTech announced the figure Wednesday (Nov. 4), noting that it follows its recent conditional banking charter approval in the U.S. and the launches of banks in Great Britain, Mexico, Australia and New Zealand. “Every...
The Office of the Comptroller of the Currency (OCC) has issued a supervisory framework designed to support the regulator’s examiners when they evaluate banks’ use of artificial intelligence and agentic AI in normal course business activities. The framework does not establish supervisory expectations for banks,...
Watch more: PYMNTS On Air A commercial customer asked its bank for a direct connection to instant payments and encountered an 18-month wait. The bank needed to rebuild its architecture before onboarding the client, Robert Mancini, partner at SRA Consulting, recalled during a PYMNTS On...
The Federal Reserve Board approved the application by the Bank of Nova Scotia to become a bank holding company by acquiring Dallas, Texas-based Maple Financial Holdings and thereby indirectly acquiring Tulsa, Oklahoma-based MapleMark Bank, the Fed said in a Thursday (Oct. 29) press release. Bank...
Digital assets and data infrastructure company Galaxy Digital aims to create a national trust bank that would provide fiduciary investment advisory services along with Galaxy’s custody, trading and staking services, the company said in a Thursday (Oct. 29) press release. To further this goal, Galaxy...
UBS employees are using more than 12,700 personal artificial intelligence agents in their daily activities, the bank said in a press release outlining its third quarter results. These AI tools include ones used for software development, which are employed by 18,000 of UBS’s software developers,...
Watch more: What’s Next in Payments With Matt Pearce of i2c The last decision a bank hands to a machine will likely be one that its employees will still have to explain to a customer or regulator. Releasing an account flagged for complex fraud activity...
Royal Bank of Canada (RBC) has decided to block third-party personal AI agents from direct access to online banking and other RBC digital properties due to concerns about fraud and consumer harm, the bank told its customers in an article posted Tuesday (Oct. 27). The...