News

Banking
Citigroup Starts Restructuring to Focus on 5 Business Units
November 20, 2023

Citigroup has begun the next phase of its previously announced organizational changes.  Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By...

Artificial Intelligence
OpenAI’s New Interim CEO Says He Will Reform Leadership Team
November 20, 2023

OpenAI’s newly appointed interim CEO — the second person to hold that post in three days — said one of his primary objectives is to investigate the process that led to the departure of OpenAI’s previous CEO, Sam Altman, on Friday (Nov. 17). Get the...

Retail
D2C Brands Favor Retail as Consumers Resist Spending 
November 20, 2023

Despite the alleviation of inflation, consumers remain cautious about their spending habits. Consequently, direct-to-consumer (D2C) brands are facing challenges and are compelled to revamp their previously successful strategies. As a result, many are venturing into the realm of traditional retail.  Get the Full Story Complete...

Cross-border Payments
Visa and Remitly Expand Collaboration to Digitally Streamline Global Remittance Market
November 20, 2023

Yanilsa Gonzalez-Ore, North America Head of Visa Direct and Global Ecosystem Readiness, and Remitly’s CEO Matt Oppenheimer told PYMNTS cross-border money transfers are ripe for app-driven, digital modernization. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...

Cross-border Payments
Liquidity Management Key to Taming FX Volatility in Emerging Markets
November 20, 2023

Compared to the global standard of five to six hubs, moving money between Nigeria and China or Singapore can require navigating through up to 16 hubs before the payment reaches the last mile, said Jess Anuna, founder and CEO of Klasha, a global cross-border payments...

Retail
Social Media Influencers Behind Lavish Wedding Comeback
November 20, 2023

The COVID-19 pandemic drastically reshaped the landscape of weddings, giving rise to the trend of micro weddings. These smaller-scale celebrations, with trimmed guest lists and downsized ceremonies, were the choice during times of uncertainty and restrictions. Get the Full Story Complete the form to unlock...

Retail
Retailers Rethink Promotions Ahead of Shopping’s ‘Super Bowl’
November 19, 2023

Some retailers are reportedly reexamining their promotional strategies to stave off a muted holiday season. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter,...

Banking
Blackstone Top Bidder for Signature’s Commercial Property Loans
November 19, 2023

Private equity group Blackstone is reportedly the leading bidder for Signature Bank’s commercial property loans. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing...

B2B Payments
PayMate Launches in Singapore, Malaysia and Australia
November 19, 2023

Digital B2B payments firm PayMate is now doing business in Singapore, Australia and Malaysia. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By...