US mobile peer-to-peer (P2P) payments have reached a critical mass, and spending is surging—but the media’s spotlight on fraud has stoked consumer concerns, threatening user and spending growth. In 2023, providers will tackle the security issue head-on as they aim to become consumers’ primary wallet.
The CFPB signaled it’s taking a more proactive stance in policing banks’ AI chatbots, including dishing out penalties.
The SEC stepped up its crackdown on crypto after filing civil charges against Coinbase and Binance.
The card network launched an account owner verification tool in Europe and partnered with Algoan to boost financial inclusion
As the mobile wallet ecosystem matures, US proximity mobile payment engagement gains are lapping user growth.
Banks that win customers through high savings rates or acquisitions still need to put in work to earn customer trust and loyalty.
The card network is hoping rewards will be enough to finally make inroads in the debit card industry
We round up how some large financial institutions are currently testing AI for front- and back-office functions.
The firm is going head-to-head with Amex and Chase ultra-premium cards and preparing to invigorate spending.
Information collected from customers’ online behavior provides endless opportunities to align with their financial needs.
Adding non-payments uses could make the wallet more convenient, helping Google pull new users and grab spending
Monzo and Chip claim profitability, but UK conditions make their future outlook uncertain.
The partnership opens up the provider to a massive merchant network, which can help it add users and grow volume.
JPMorgan is opening more branches and launching AI-powered tools to woo new customers.
It will use AI for transaction approval, predictive analytics, and customer experience tools
While only a small portion of the market today, embedded channels will make up more than 30% of all insurance transactions by 2028, per EY. Insurers who don’t figure out now where they fit into the ecosystem—and how to implement the necessary technology—may lose digital-first customers and younger demographics to competitors who do.
They’re developing unique tools for the specialized industry, but their understanding of ag banking still lags.
On today's episode, we discuss Apple’s dominance in the digital wallet arena. In our “Headlines” segment, we look at the ramifications of The Kroger Co.’s about-face on Apple Pay and how the EU is scrutinizing Apple Pay in its antitrust investigation. In “Story by Numbers,” we examine how Gen Z’s use of iPhones will keep Apple competitive in the digital wallet space and the success of Apple’s new savings account. And in our new segment, “What If,” host Rob Rubin presents a few hypotheticals and discusses what things would look like if they were true. Tune in to the discussion with our analyst David Morris.
Klarna hailed AI’s potential, but it needs to consider how the tech can bring benefits that competitors can’t replicate.
The Big Tech firm’s financial ecosystem boasts a larger user base, but FIs offer different value propositions.