Technology

Ant Group created an investment advisory platform on its Alipay app, allowing companies that offer robo adviser services to reach its 1 billion users.

Early in the pandemic, Michigan's Astera Credit Union realized that if it could not support touchless transactions, its members were likely to go elsewhere.

To drive the recovery we need to move beyond traditional data and models to incorporate new transaction and payment information that is more timely, more insightful, and more inclusive, FinRegLab's Melissa Koide and FICO's Larry Rosenberger write.

Many consumers pay for this entertainment by credit card, but the prevalence of new streaming services — and other factors such as rewards programs — are starting to influence users' payment habits.

The current consumer and business demands for contactless payment channels give organizations the opportunity to build new solutions with security at the forefront or to append new workflows to legacy business processes, says Mobiquity's Tyrone Jeffress.

The deal can potentially boost payments on both sides, but also open new avenues such as merchandising and related content, says Kunai's Tarun Bhasin.

The rise in contactless payment options will not only encourage consumers to return to offices and stores, but also enable them to change their payment habits.

TomoCredit relies strictly on cash-flow data to gauge the creditworthiness of immigrants and young consumers, who often have too little financial history for traditional scoring models.

Potential central bank digital currencies would need to be integrated into existing payment systems alongside cash and other forms of money, Federal Reserve Chair Jerome Powell said.

Both corporations and nimble outfits have been forced to search for new ways to innovate, says Hangar 75's Ian Wilding.