The Thanksgiving holiday weekend saw a record-breaking number of consumers engaging in shopping. Over the five days from Thanksgiving Day through Cyber Monday, 200.4 million shoppers participated, surpassing last year’s record of 196.7 million, the National Retail Federation (NRF) and Prosper Insights and Analytics said...
For banks, artificial intelligence is both foe and friend in the eternal battle against fraud. Foe because the bad actors are harnessing advanced technologies to forge new paths toward scamming financial institutions and their customers. Now, synthetic IDs, especially, are proving to be popular attack...
The International Monetary Fund (IMF), the World Bank and the Bank for International Settlements (BIS) have reportedly joined forces to explore the concept of tokenization. This collaboration aims to leverage tokenization technology to streamline financial processes and enhance global economic development, Reuters reported Tuesday (Nov. 28). Tokenization involves converting traditional financial assets into...
HomeAdvisor, a company affiliated with Angi (formerly known as Angie’s List), came under scrutiny by the Federal Trade Commission (FTC) for alleged deceptive marketing tactics. The FTC accused HomeAdvisor of misleading businesses, including those operating in the gig economy, when selling home improvement project leads,...
The Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay $12 million for submitting incomplete mortgage lending data to the federal government. Hundreds of the bank’s loan officers failed to ask mortgage applicants certain demographic questions as required by the Home Mortgage Disclosure...
Entrust has launched a new digital account opening solution for banks and credit unions. The new Entrust Digital Account Opening Solution is designed to overcome barriers created by geography, technology or inconvenience that make it difficult for consumers to open an account, the company said...
Payments services firm Worldline has gotten approval to expand its presence in Great Britain. The company announced Tuesday (Nov. 28) that it had gotten a payment institution authorization from the U.K.’s Financial Conduct Authority (FCA). “The licensing confirms Worldline’s ambitions to further reinforce its presence in the U.K. and...
Although the aspirational shopper appears to have paused extravagant spending, MyTheresa is cashing in on the enthusiasm of savvy shoppers who still have some serious shopping power. In its latest quarterly earnings report, the retailer not only turned a minor financial setback into a stylish...
Walmart’s latest foray into shoppable video will seem familiar to fans of the Hallmark channel. The retail giant has teamed up with TikTok and Roku to launch its first-ever shoppable series, the company announced Tuesday (Nov. 28). Modeled after the standard Hallmark holiday movie formula — professional woman finds love around...
