The bar for payment experiences — and consumer expectations — has been raised by FinTechs and digital-first challengers, making frictionless transactions a staple of everyday life. The PYMNTS Intelligence report “Moving Money Forward: The Power of Payment Hubs” found that digital transformation has put pressure...
London-headquartered payments firm Wise reportedly filed an application to create a national trust bank in the United States. The application was filed June 16 with the U.S. Office of the Comptroller of the Currency (OCC), Bloomberg reported Wednesday (July 2). Read more: Ripple Applies for...
Before collapsing in 2023, Silicon Valley Bank catered to startups and the cryptocurrency sector. Now, a group of tech billionaires is reportedly aiming to fill the space left by the lender’s demise with the launch of a new bank, known as Erebor. As the Financial...
Watch more: Automation Is Reshaping How Retailers Handle Cash The enduring significance of physical currency remains a reality, particularly for a substantial segment of the population. Roughly 20% of America remains underbanked or unbanked, underscoring cash’s continued role across the U.S. and globally. But as...
Open banking is proving to be a work in progress, certainly on the regulatory front in the United States, and in terms of technical issues too. As PYMNTS reported in May, the ultimate fate of the so-called “open banking rule,” also named Section 1033, is...
Across the country, thousands of community and regional banks are facing a seismic challenge: adapt to the demands of a digital-first world or risk obsolescence. Throughout the history of financial services, community banks have played a vital role in local economies. They provide loans to...
Circle Internet Group has applied for a national trust charter, aiming to establish a national trust bank called First National Digital Currency Bank, N.A. If the application is approved by the Office of the Comptroller of the Currency (OCC), the bank would oversee the management of...
Last week, news came that Meta was moving toward obtaining $29 billion from private equity firms to help finance artificial intelligence (AI) data centers, according to the Financial Times. And as PYMNTS reported last month, Apollo Global Management is working with five banks, including JPMorgan...
The digital age demands banks find new ways to ascertain at the point of onboarding that customers, whether enterprise clients or individuals, are who they say they are. PYMNTS Intelligence reported earlier this year that identity-related issues comprise 42% of all suspicious activity encountered by...