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...
Marcus aside, Goldman Sachs has heavy lifting ahead as the Wall Street giant pursues embedded finance. As reported in SEC filings from Friday (Jan. 13), Goldman has detailed how it will document financial and operating performance on a go-forward basis with new segment reporting. Within...
Inflation is a major challenge for small to midsized businesses (SMBs) in the United States, where 40% are concerned about rising interest rates and 7 in 10 are addressing it by raising prices. These conditions have SMBs on the hunt for working capital to execute...
“Banking as a service, and embedded finance, taken together — they just represent where the world is going.” As Sherri Haymond, executive vice president, Global Digital Partnerships at Mastercard, told PYMNTS’ Karen Webster, BaaS is slated to become big business — at scale — in...
Bank-backed BNPL may be a hook for digital-only institutions to lure millennials away from more traditional mainstays. Buy now, pay later (BNPL) plans from FinTechs such as Klarna and Affirm are gaining popularity as shoppers seek alternative financing to avoid rising credit card interest rates. However, PYMNTS research has found...
Digital banking is delivering on promises of personalization and convenience, appealing strongly to younger consumers. In Personalization Beyond Traditional Banking To Build Financial Wealth, part of The Digital-First Banking Tracker® Series, a PYMNTS and NCR collaboration, we explore the needs and wants of consumers using...
The German neobank Ruuky announced it has filed for bankruptcy after less than three years in operation. In a LinkedIn post Monday (Jan. 9), the Hamburg-based FinTech said the decision comes after the company experienced incredible growth, amassed a loyal customer base, and became the largest...
Keeping pace with and meeting shifting customer expectations is a perennial challenge across the financial services industry. A 2022 study found 51% of retail banks report that keeping up with customers’ changing needs is difficult. At the moment, personalized banking experiences are in high demand....
