Fears of a recession are stressing consumers and complicating banks’ efforts to deliver winning customer service. More than eight in 10 bank executives, for example, reported that their banks increased their technology budgets over the previous year, with a substantial 63% implementing or upgrading payments...
When it comes to artificial intelligence (AI)-driven credit decision-making, Chirag Shah, founder and CEO at U.K. FinTech lender Nucleus Commercial Finance, is of the view that it’s all about data. “Most lenders right now have gathered substantial amounts of data in a form that can...
David’s Bridal, a privately owned specialty retailer, will be forced to close all of its stores unless it finds a buyer to continue operating the bridal chain. Despite its efforts to find a buyer, the company was forced to file for bankruptcy. According to a...
A proposed consent decree will prohibit Nexway from providing credit card laundering for tech support scammers. The Federal Trade Commission (FTC) has filed proposed consent decrees in which the multinational payment processing company and its subsidiaries, an associated company, and two of its executives have...
Turkey’s central bank is reportedly taking measures to protect the value of the country’s currency. The measures include asking banks to limit the amount of foreign currency they buy each day, Bloomberg reported Monday (April 17), citing unnamed sources. As a result, the lenders —...
Gen Z are a difficult group to predict. They love picking up their restaurant meals, both inside and curbside. They are most open to new ways to pay, but lag behind other age cohorts in everyday digital activities such as ordering those meals online. They...
Consumers’ and businesses’ use of Zelle increased about 30% year over year in the first quarter. The number of transactions completed using the peer-to-peer (P2P) payment service rose 29% to 639 million and the amount of money sent grew 31% to $180 billion, Early Warning...
Asda has launched what it calls the U.K’s largest driverless grocery delivery trial. The supermarket chain has teamed with autonomous vehicle technology startup Wayve to deliver groceries to customers using self-driving vehicles starting today, the companies announced in a news release Monday (April 17). The year-long trial — kicking off...
The dollar value of payments made by Same Day ACH have nearly doubled compared to a year ago. During the first quarter, the value of these same-day payments leapt about 95% year over year to $565.3 billion and the number of payments increased about 21%...
