While most consumers use credit to purchase products or services because of the rewards they can get for doing so, PYMNTS Intelligence reveals, younger shoppers are the only ones to leverage the payment method primarily as a way to manage their spending better. By the Numbers The study “The...
When is a loan not a loan? That is, in one sense, the question at the heart of proposed new federal legislation around earned wage access (EWA) that is coming on the heels of multiple states debating their own regulations in the absence of substantial federal rules around EWA...
Bank of America’s first quarter results took note of continued use of digital channels in banking — and for payments, too. The bank recorded 3.4 billion digital logins; digital sales represented 50% of total sales, the company noted in its earnings supplementals on Tuesday (April...
Consumers are still spending, but JPMorgan CEO Jamie Dimon, in remarks accompanying the banking giant’s latest earnings Friday (April 12), detailed concerns over inflation’s impact. And “persistent inflation pressures,” as he termed them, among other factors, will be unpredictable. As Dimon stated in the earnings release,...
April 30, 2024
Not all that long ago, as Doug Brown, chief product officer, NCR Voyix Digital Banking, observed, credit unions and banks had a rather simple approach to financial wellness. The old-school playbook, pre-COVID-19 and before the great digital shift, he told PYMNTS’ Karen Webster, went something like this: “Put your money here — and put it in […]
January 24, 2024
Picture this: a 28-year-old $400,000 in debt who has never held a job. Would you give them a loan? Chances are, probably not. And that’s the thought taken by most...
January 05, 2024
Traditionally, consumers rely on their primary financial institutions (FIs), such as banks or credit unions (CUs), for credit products like credit cards, mortgages, auto loans and personal loans. However, research...
December 18, 2023
In a credit-based economy like the United States, credit scores play a crucial role in determining access to credit and financial stability. This poses a considerable challenge for millions of...
March 26, 2024
Voyant has added three new financial planning and modeling tools focused on retirement planning to its financial wellness and wealth management software. These retirement planning simulations are designed to help financial advisors illustrate complex solutions with the click of a button, providing greater visibility and clarity and helping their clients make informed decisions, the company […]
March 25, 2024
Savings/financial education platform Goalsetter has raised $9.6 million in new funding. The company’s Series A extension round, announced Monday (March 25) was led by an affiliate of Edward Jones and MassMutual through its MM Catalyst...
March 05, 2024
Digital banking/finance platform Dave says its customers are seeking extra cash. More accurately, they’re seeking ExtraCash, the company’s cash advance program, which saw disbursements jump by double digits since last year, Dave...
March 03, 2024
Financial guidance platform NerdWallet says it was the victim of a fraudulent bankruptcy filing. As Reuters reported Saturday (March 2), the company said that it did not file for bankruptcy and that the...
