April 23, 2024
Microsoft Debuts Smallest AI Model as AI Eludes Small Businesses
Microsoft has introduced its smallest artificial intelligence (AI) model, aimed at businesses with limited resources. The company’s Phi-3-mini can perform tasks like content creation for social media while using less...
April 23, 2024
Spike in Identity Fraud Forces Banks to Embrace Innovation
To the hammer of a bad actor, everything vulnerable looks like a nail. And with the rise of sophisticated fraud techniques, organizations like financial institutions that are operating within security-critical...
April 23, 2024
90% of FIs Say a Fraud-Prevention Vendor’s Reputation Is Key...
More than 40% of financial institutions (FIs) report seeing increasing volumes of fraud and financial crimes, according to PYMNTS Intelligence data. Faced with this onslaught of illicit activities, it’s little...
April 22, 2024
Verizon Focuses on AI Priorities as Customer Losses Slow
Verizon is crediting flexible price plans and streaming bundles for its slowing customer losses. The wireless provider on Monday (April 11) reported that it lost 68,000 monthly wireless phone subscribers during the first quarter of...
April 22, 2024
Verafin Adds AI Copilot to Financial Crime Management Solutions
Verafin has added an artificial intelligence (AI) copilot to its suite of financial crime management solutions. The new Entity Research Copilot is being rolled out to the firm’s customer base of...
April 22, 2024
Commerzbank Fined for Money Laundering Compliance Failure
A German financial regulator has reportedly fined Commerzbank $1.5 million for anti-money laundering violations. BaFin said Monday (April 11) that the bank failed to update customer data on time and did not provide sufficient security...
April 22, 2024
Report: Salesforce-Informatica Deal Falls Apart
Salesforce’s plans to purchase data-management software provider Informatica have reportedly stalled. While the two sides were apparently in advanced talks for a deal earlier this month, the companies were not able to...
April 22, 2024
Rapid FinTech Growth Adds Risk to Inbound Account Funding
The quick growth of neobanks and FinTechs has put an increased emphasis on secure money movement. Ingo Payments CEO Drew Edwards details the challenges in money movement and their solutions...
April 21, 2024
Air Travelers Help Fuel $2 Trillion Global Money Laundering System
Each year, money launders funnel $2 trillion in ill-gotten gains into the financial system. And a lot of that money travels by air, in cash, often in people’s suitcases, The...
With more than two-thirds of CFOs citing payment delays as a problem for their firms in the last six months, nine in 10 companies wish to expand their investment in AR automation to accelerate order processing, reduce invoicing errors and expedite payments. In the “Working Capital Tracker®,” a collaboration with Billtrust, PYMNTS Intelligence explains why the demand for AR automation is growing and what’s at stake for companies that opt out of this trend.
Forty-six percent of FIs say the fraud risks of providing open banking outweigh the benefits, but the share of skeptics rises to 57% among FIs that experienced increased fraud. PYMNTS Intelligence’s latest study of 200 FI execs, “How Fraud Fears Impact FIs’ Adoption of Faster Payment Solutions,” a collaboration with Hawk AI, details why FIs are cooling toward open banking but staying the course on real-time payments.