Fintech

While today’s digital-first students navigate campus life through smartphones, many colleges and universities still rely on fragmented, analog payment systems. These systems introduce inefficiencies that disrupt cash flow and undermine student satisfaction — factors critical to the long-term success of any higher education institution. Unified digital commerce systems are the next-generation alternative, offering not only […]

Bank of America “has been, and plans to continue, implementing enhancements” to its AML/BSA and sanctions compliance programs, as it cooperates with regulators, the lender said in Tuesday’s filing. The bank’s discussions with regulators continue, “and resolution of these discussions may include one or more public orders by the regulators,” the filing noted. The bank […]

Many merchants are hesitant to take the plunge on new payment methods because they are concerned about the time or resource investment, as well as the ever-present threat of fraud. However, in many cases, the benefits of adopting emerging payments dramatically outweigh the drawbacks. For instance, many younger consumers might not qualify for a credit card, but […]

Despite stretched household budgets and concerns about the economy, American shoppers are expected to spend more—and take on more debt—this holiday season. Consumer spending on gifts, food, decorations, and other seasonal items is expected to hit a record of $902 per person, $25 more than last year, according to the National Retail Federation’s annual survey. […]

Federal regulators have taken action against VyStar Credit Union following a “botched” online banking launch. As the Consumer Financial Protection Bureau (CFPB) said in its announcement Thursday (Oct. 31), VyStar in May 2022 switched to a new and “dysfunctional” digital banking platform that made it difficult for members to perform basic banking features for weeks or months on end, leading these […]

Agent IQ and Narmi announce a strategic partnership to enhance digital banking solutions, offering advanced AI-driven experiences to community banks and credit unions. The collaboration is set to transform the digital banking landscape by enabling financial institutions to offer seamless, personal, and AI-powered customer experiences. By merging Narmi’s cutting-edge digital banking platform with the personal […]

Shopify Ventures, Capital One Ventures, Accel, Bessemer, Coatue, Frontline Ventures, General Catalyst, Latitude and Thrive Capital joined the Series E for New York-based Melio. The funding follows a ten-fold increase in revenue since the last $110 million round three years ago. Melio’s platform integrates cash flow management, accounts receivable and accounts payable solutions to help […]

House Republicans are warning against what they argue is regulatory overreach in bank-FinTech partnerships. The lawmakers — all members of the House Financial Services Committee – issued a letter Thursday (Oct. 31) to regulators at the Federal Reserve Board, Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corp. (FDIC) responding to […]

With billions of dollars processed every day, cross-border trade payments have become increasingly complex. Companies must navigate a range of banks, clearinghouses and payment processors, all of which assess fees and contribute to potential delays. Traditionally, cross-border payments are slow, opaque and costly, causing cash flow problems for businesses. For instance, intermediary banks involved in […]

Consumers are increasingly seeking more personalised benefits from their credit card providers, such as rewards and loyalty points, according to a new survey by card issuing platform Marqeta.  In its fourth annual ‘State of Credit‘ report, Marqeta found that customer loyalty to credit cards is shifting, as the public explore new financial products and services that […]