Amid financial uncertainties, U.S. consumers are becoming more discerning in what nice-to-have retail products they are willing to indulge in, shifting their purchasing away from major retailers toward smaller brands, with clothing and accessories companies benefitting from this trend. Per a recent Reuters report, data...
The ability of artificial intelligence to transcribe conversations and categorize them by topic can save financial advisers 10 to 15 hours per week, Morgan Stanley CEO Ted Pick said Monday (June 10). The global financial services firm has seen this savings when using an AI...
As the world gets increasingly globalized, the ways that businesses transact become more important. With the Bank for International Settlements’ Committee on Payments and Market Infrastructures emphasizing in its June report that a key priority area for cross-border payments is payment system interoperability and extension,...
As inflation continues to erode purchasing power, financially unstable consumers, squeezed by higher prices on everything from groceries to gasoline, are increasingly turning to discount and value-focused retailers. This trade-down behavior is providing a boost to companies such as Dollar General, Dollar Tree and The...
Fashion retailer Michael Kors adopted Mastercard’s artificial intelligence-powered shopping assistant. The retailer is the first to make Shopping Muse available to its customers via an integration with its U.S. website, the companies said in a news release Monday (June 10). “With summer adventures and wedding...
Consumer Financial Protection Bureau Director Rohit Chopra is set to testify on Capitol Hill this week. He is scheduled to appear before the Senate Banking Committee Wednesday (June 12) and the House Financial Services Committee Thursday (June 13) to present “The Semi-Annual Report of the...
As beauty brands look for ways to gain digital shoppers without being able to offer in-store product trials, eCosmetics is seeing sampling prove vital to winning over new customers. Alex Irvin, co-founder at the online retailer, which sells beauty and personal care products, explained in...
Citi introduced Real-Time Funding (RTF), part of its real-time treasury solutions for corporate customers. “Citi RTF enables the automated movement of funds between cross-border accounts based on predefined rules set by the client, helping them ensure that cash is available when and where it’s needed,”...
For Bharath Krishnamoorthy, co-founder and CEO of Denim, transforming the freight industry — and specifically how brokers get paid — was not on the roadmap. A decade ago, when he was in law school, he told Karen Webster, “I didn’t know what factoring was. Trucks...
