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Bank Branches Evolve Into Financial Education ‘Magnets’

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Last year, banks shuttered 2,300 branches. The move should come as no surprise, given the fact that banks, like any other business, have been examining their cost structures. At the same time, they’ve been investing aggressively in…

i2c President Says Banks Have Reset Their Go-to-Market Strategies

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Jacqueline White, president of i2c, told PYMNTS in an interview that financial services have undergone a seismic shift in recent years. When the pandemic hit, banks of all sizes were already on a trajectory toward modernization and their…

Walmart and Amazon Up the Ante in GenAI Race

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As Amazon and Walmart look to generative artificial intelligence (AI) to improve their businesses and capture more of consumers’ total spending, Amazon is stepping up its investment in the space by the billions. The eCommerce giant…

FinTech IPO Index Up Slightly as nCino’s Gains Offset Huize’s Slide

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Earning season’s set to begin in just a few weeks — but we’re still not quite done with, well, earnings season. The FinTech IPO Index was up 0.3% through the past five sessions as nCino’s stock soared 23%. The company’s latest earnings…

Boomers Flip the Script on Storing Travel Docs in Digital Wallets

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Are there any adults still out there who aren’t using digital wallets to securely store important documents? The answer is yes. There are many who don’t, but increasingly consumers are opting to use mobile wallets as a convenient way to…

02

White House Wants Chief AI Officers to Keep Federal AI Use Responsible

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The White House unveiled a groundbreaking policy on Thursday (March 28) that requires federal agencies to identify and mitigate the potential risks of artificial intelligence (AI), emphasizing the government’s commitment to the responsible…

01

Beyond Relaunches Overstock.com With Focus on Deals, New Product Categories

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Overstock.com is back online, promising savings of 30% to 70% and a growing range of product categories. The relaunch of the brand was announced in a Thursday (March 28) press release by parent company Beyond, which also owns the online…

Adobe Commerce Taps Adyen to Support Global Omnichannel Enterprises

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Adobe and Adyen have partnered to enable online and in-store payments for global enterprise merchants that use Adobe Commerce. With this partnership, merchants operating on Adobe Commerce will be able to simplify and scale their customer…

Thursday, Mar 28

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Wisconsin Law Fuels Ongoing Earned Wage Access Debate

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Gone are the days when financially constrained employees had to wait for the conventional two-week pay cycle to receive their wages. Nowadays, earned wage access (EWA), also referred to as early, instant, or on-demand pay, is rapidly…

23

Coro Raises $100 Million to Grow Small Business-Focused Cybersecurity Platform

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Coro has secured $100 million in Series D funding to grow its cybersecurity platform designed for small and medium-sized businesses (SMBs). The company will use the new funding to invest in its global expansion, research and development (R…

Intuit QuickBooks Adds Invoice Financing, Line of Credit

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Intuit QuickBooks has added an invoice financing and line of credit offering to the small business lending options available through its platform. The new QuickBooks Line of Credit enables small businesses to access funding from $1,000 to …

Social Commerce Holdouts Skeptical of Cross-Pollination

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Many consumers are put off by social commerce, not wanting to have their social connection interrupted by product promotion. By the Numbers For the report “Tracking the Digital Payments Takeover: Monetizing Social Media,” PYMNTS…

22

Retailers Add Tech to Meet Consumer Demand for Biometric Authentication

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With consumers looking for more frictionless authentication, retailers ranging from Whole Foods to Steak ’n Shake are adding biometric payments. Amazon has been looking to remove friction from its Amazon One pay-by-palm capability, most…

How Embedded Payments Help Businesses Own Key ‘Micro Moments’

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In life, and in commerce, it is often the little things that matter most. And as digitization changes the world, those little things are getting both smaller and more important — particularly when it comes to payments. This, as leveraging…

21

UK and US Investigate $20 Billion in Crypto Transfers to Russia

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Authorities are reportedly investigating billions in cryptocurrency transfers that moved through a Russia-based exchange. The probe into the $20 billion-plus payments is part of efforts by the U.S. and Great Britain to crack down on…

Bloxcross, GoDirectPay Partner on Cross-Border Payments App

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Bloxcross and GoDirectPay have partnered to launch a mobile app for global payments. The new app enables payments in any currency from institutions to vendors and from individuals to friends, the companies said in a Thursday (March 28)…

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Home Depot’s SRS Deal Boosts B2B and Trade Finance Strategy Across Digital Channels

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Home Depot’s acquisition of SRS is the latest evidence that the home improvement giant is laying the foundation — pun intended — for a many-sided, digitally-enabled ecosystem. With B2B services and trade finance tied to it all, the deal…

Report: X is Testing Adult Content Communities

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X, formerly known as Twitter, is reportedly testing a feature that would let users join or create adult content-focused communities. Members of the social network would be able to create a community and specify in the app settings that…

19

Microsoft-Backed Tutch Brings In-Store Digital Platform to US Market

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Tutch has appointed Microsoft veteran Greg Jones as its CEO as it expands into the U.S. market. The company, which is backed by Microsoft and already operates in Australia, offers retail technology that provides a digital experience for…

FinCEN Seeks Comments on Modernizing Customer Identification Program Requirements

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The Financial Crimes Enforcement Network (FinCEN) requested comments on its Customer Identification Program (CIP) requirements for banks. The agency is exploring ways to modernize these requirements and has issued a request for information…

17

‘Mega-Deals’ More Than Double Following M&A Drought

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After a drought, the merger and acquisition (M&A) landscape is in bloom. Major M&A deals — agreements worth at least $10 billion — more than doubled during the first quarter of this year, the Financial Times reported Thursday (March 28),…

Revised Q4 GDP Data Hints at Disposable Income Pressures Even as Spending Increases

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Three months ago feels like a long time. But the latest — and revised — data on gross domestic product released Thursday (March 28) by the Bureau of Economic Analysis details the fourth quarter and gives some hints as to what may come in…

16

Amazon Debuts App for Easier Palm Payment Sign-Ups

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Amazon is making it easier for consumers to use its palm payment tool Amazon One. “Until today, customers had to visit a physical location to hover their palm over an Amazon One device to sign up for the service,” the company said in a…

15

US Pledges $10 Million Reward in Hunt for UnitedHealth Hackers

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Last month, a hacker group known as ALPHV BlackCat attacked the U.S. healthcare system. Now, the federal government is offering a $10 million reward to help identify the people behind the organization. “The ALPHV BlackCat ransomware-as-a…

14

Home Depot Expands Pro Market Footprint With $18 Billion SRS Deal

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Home Depot is acquiring SRS, a distribution company for roof, landscaping and pool contractors. The home improvement giant says the $18.2 billion deal, announced Thursday (March 28), will speed its growth with its professional customer…

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New Report: To Compete, Small Businesses Must Sharpen Use of Digital Shopping Features

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Consumers increasingly want digital innovation no matter where they shop. Industry giants typically hold an edge in providing more digital shopping features because of their size and scale. However, savvy small to mid-sized businesses …

For Banks to Compete With FinTechs, They Need to Act Like One

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The financial services landscape is an inherently customer-centric one. Within it, the winds of change around customer behavior and expectations about their banking relationships and financial journeys have been blowing stronger than ever.…

Eight in 10 EU Mid-Market Firms Needed Working Capital Solutions in 2023

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European middle-market firms have the second-highest need for working capital solutions. That’s according to “The 2023-2024 Growth Corporates Working Capital Index: Europe Edition,” a PYMNTS Intelligence and Visa collaboration that looked…

Digital Wallets Need to Remove Frictions to Increase Usage for Bill Pay

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Digital bill payment has become routine for most consumers, offering them extensive firsthand experience with the frustrations and challenges with these payments. Fraud, friction, limited payment options and slow payment times are just…

Digital Shift Helps Banks Tailor Credit Offers to Consumers

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For decades, consumer expectations around the convenience and always-on capabilities of their financial services could not be met. The typical Monday-through-Friday banking hours and 4 p.m. branch closings have made it difficult for…