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....
An interview with Charles Potts, chief innovation officer at the Independent Community Bankers of America (ICBA), about the ways the organization is helping community banks access disruptive financial technologies to better serve SMBs. — For his role with the ICBA, Potts works closely with community...
The UK’s competition authority has announced the near completion of the country’s open banking roadmap. In a statement released on Thursday (Jan. 12), the Competition and Markets Authority (CMA) said that the six largest banks in the U.K. have successfully delivered the requirements of open banking as...
