Mobile offerings have now become nearly universal across the industry, and that banks are increasing budgets to rapidly build out features as new technology emerges. At the same time, unease is evident among executives over the deployment of an ever wider array of services that do not directly generate revenue, although a rough consensus of sorts is forming around what kinds of metrics constitute an appropriate assessment of ROI in this space.
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The payments industry is evolving, driven by innovative technologies and a new class of leaders and executives eager to embrace change. Here's what they're prioritizing.
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Some 54% of small businesses said in a recent survey that elevated rates had led to higher debt payments. And in a sign that loan demand remains soft, 37% reported delaying expansion plans or capital spending.
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Investing in Main Street Act has passed the House three times with overwhelming majorities but has failed to gain traction in the Senate. Backers, including banks that invest in the funds, hope to flip the script with a third version.
March 18 -
The head of the Consumer Financial Protection Bureau summarized his findings from a yearlong probe into the Appraisal Foundation. He says the "lawmaking body" is not accountable to the public or market forces.
March 18 -
False information, job losses, diminishing skills and human interaction, among other concerns, have bankers worried about deploying both generative artificial intelligence, like ChatGPT, and more long-accepted forms of AI like machine learning, according to a new survey of American Banker readers.
March 18 -
Despite fresh waves of online fraud and scams, czars of social media platforms, peer-to-peer networks and blockchain products have renewed ambitions to marry financial services with social apps.
March 18