Citigroup's new treasury partnership with Payoneer and JPMorganChase's deposit token are pressuring banks to quickly come up with a "vision," according to payment experts.
Alternative lender FastPay, which specializes in lending to digital media startups, received $15 million from newly formed Oak HC/FT, a $500 million growth-equity fund that invests in health care and financial technology.
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Despite faster payments' momentum, fragmented systems and cash's resilience continue to hobble cross-border peer-to-peer remittance speed, says MoneyGram CEO Alex Holmes.
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The payment company's sizable audience and existing technology differentiate it in a market that is otherwise dominated by startups.
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Deployments picked up speed during the pandemic, and have continued into this year as commuter networks try to win back riders.
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
The Pittsburgh-based regional bank reported a jump in soured commercial and consumer credits during the fourth quarter. Still, PNC executives said the company is appropriately reserved for a mild recession.
Judy Dimon is a longtime donor to Democratic candidates and an education advocate who has been public in her support for Vice President Kamala Harris.
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The visibility of automated transactions provides a clear view of the flow of transactions, says Hummingbird's Joe Robinson.
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Magecart attacks, which target e-commerce websites in order to steal personal data during the checkout process, are picking up steam with cyber attackers, says PermeterX's Ameet Naik.
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Many younger people are looking for financing and are averse to traditional credit cards, says Four's Chaim Lever.
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The regional Fed bank president said in a speech Thursday higher import taxes will result in price pressure for companies of all sizes, but that small businesses will have a harder time avoiding or eating those costs, leaving them no choice but to pass them on to the consumer.
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The payment giants have added emerging forms of artificial intelligence to identify cybercrime, fraud and scams, countering crooks who are also embracing the innovation.
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Citigroup Inc. Chief Executive Officer Jane Fraser met with President Donald Trump on Wednesday to pitch public stock offerings for mortgage giants Fannie Mae and Freddie Mac.
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Coastal Community Bank reported smaller profits in the second quarter as it prepared for a growth spurt. "We think we're winning the right business," said CEO Eric Sprink.
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The online lender reached profitability ahead of schedule with a boost in loan volumes and increased its outlook for the year despite macroeconomic uncertainty.
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Industry veteran Chris Ward has been tapped to lead the Canadian bank's new U.S. small-business banking department. "It's absolutely a growth opportunity," he said.
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The Senate confirmed former Federal Deposit Insurance Corp. board member Jonathan McKernan to serve as Treasury's under secretary for domestic finance on a party-line vote, installing a key industry ally in the Treasury Department.
The Federal Deposit Insurance Corp. approved proposals Tuesday that would define "unsafe or unsound practices" and ban the use of "reputation risk" in supervisory exams.
The 23rd annual ranking of women leaders in the banking industry.
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