Expanding fintech charters and workforces shrinking across the Fed, OCC, and FDIC require financial services leaders to assume the role of technical auditor to protect against systemic contagion.
American Banker's BNPL Tradeoff Survey finds risk and regulatory fears are leading many banks and credit unions to hold off on offering the lending product.
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Amid threats from immigration policy and emerging fintechs, International Money Express, a global remittance company and $500 million acquisition target for Western Union, reported a 18% year-over-year decline in revenue in the second quarter with analysts questioning whether the purchase holds the same value as it did a year ago when the deal was first announced.
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Apple Inc.'s Jennifer Bailey, the longtime head of Pay and Wallet services, is retiring after more than two decades at the company, adding to a sweeping changing of the guard at the iPhone maker.
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Amex GBT is using Anthropic's Claude to help travelers navigate searches, and plan and book itineraries, betting the complex and common practice of booking corporate travel will attract users.
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The neobank in the second quarter blew past Wall Street's expectations and posted its second quarter of GAAP profitability as its payments-centric business model continues to resonate with consumers and challenge incumbent banks.
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The payment company's CEO says it's developing and shipping products faster despite cutting nearly half of its staff. It's a strategy he says can be replicated at other businesses.
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The real value of stablecoins lies in their ability to provide instant and secure transfers of value. But, in a world where every company has a bespoke stablecoin, that promise begins to break down quickly.
The risk facing U.S. banks is not that stablecoins will suddenly siphon deposits through yield alone. It is that deposits will gradually follow utility as financial experiences improve elsewhere.
Banks that don't embrace embedded payments now risk losing out to more nimble rivals in the near future.
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Real-time payments are only one component, Umar Farooq said.
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When a bank thinks of itself as a tech company, a new set of opportunities and challenges becomes clear.
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