The founder and CEO of the buy now pay later giant spoke with American Banker about how agentic AI will soon revolutionize the way consumers shop, make purchases and manage their personal finances. That will be accretive for Affirm, especially in a world where agents are making payments on behalf of consumers.
Suddenly, online lenders are struggling, or paying higher prices, to attract the institutional money that has fueled their rapid rise.
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National Australia Bank is adding a Pay By Bank option for near-instant payments, Italy is bringing open-loop payments to buses in Tuscany, and more.
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Joining forces with mobile and faster payments, generative AI is coming on board to help deliver better customer experiences and combat fraud
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Banks rely on fee income to a greater or lesser extent depending on business model, and the Biden administration is intent on cutting consumer fees across the economy. But that push might hamper another administration priority: financial inclusion.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Independent registered investment advisors seem to be having a good post-recession period, but gains have come at a cost in terms of more work and less pay.
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Advisors looking for cost-effective options for building diversified portfolios are continuing to turn to exchange-traded funds. And given their competitive strengths, it's no wonder ETF assets in the U.S. grew at nearly 40% compound annual growth rate from 1998 to 2009. ETF assets now total almost $1 trillion and represent 45% of total passive fund assets in the United States.
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Brick Sturgeon remembers his "lightbulb moment." His clients were two middle-aged sisters who had inherited $500,000 from their father. Two years after his death, however, the money still sat in their father's accounts.
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The industry has taken some steps to lower barriers to affordable housing, but some observers say that more can be done.
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The Trump administration is not backing down even after a federal court blocked guidance that would have limited the operations of national housing funds.
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With officials putting finishing touches on presidentially directed reports on the future of the housing finance system, the Senate Banking Committee announced a hearing to examine the issue.
The top executive at Royal Bank of Canada expressed reluctance about expanding south of the border again, citing what he characterized as a changing regulatory landscape and pointing to lessons learned from the 2015 acquisition of City National Bank.
Sen. Joni Ernst, R-Iowa, is pressing Federal Deposit Insurance Corp. Inspector General Jennifer Fain for answers on whistleblower allegations of fraud, financial mismanagement and retaliation at the agency's watchdog office.
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No one company can solve this credit scoring problem. Banks, fintechs and innovative startups must come together in partnership to share information and change the existing system.
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Treasury Secretary Janet Yellen's latest remarks reaffirming the government's willingness to shore up uninsured deposits at troubled banks seem to have calmed markets, but sooner or later regulators are going to have to articulate an official policy.
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A cap on deposit insurance for yield-bearing accounts will still provide necessary market discipline, but other important reforms are needed to assure the safety of the banking system.
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Federal Reserve Vice Chair Philip Jefferson said that as interest rates have moved toward a more neutral level, "it makes sense" now to proceed with caution.
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The volume of home equity lines of credit expanded for the 14th consecutive quarter, driven largely by fintechs and other nonbanks that are accounting for more and more of the business.
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The payment and commerce company's stock fell as much as 12% in afterhours trading on Thursday after the fintech missed Wall Street's earnings estimates, despite posting growth in all lines of business and increasing its full year guidance.
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Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.
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The digital neobank is expecting spending to stay strong through current economic conditions, and a new credit card is projected to bring in increased revenue.
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Analysts say the fintech must "grow like a fintech, but be profitable like a bank" as its capital base shrinks to its lowest level to date.
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A commonly used standard for property and casualty insurance will offer a carve-out for generative AI liability starting in January. Startups like Testudo, Vouch and Armilla AI stand by to scoop up that business.
Until August, Bell was the executive director for loan guaranty service at the Department of Veterans Affairs, where he was credited with growing the program.
The 23rd annual ranking of women leaders in the banking industry.
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