Its TPV grew 9% YoY, down from 23% a year ago. PayPal hopes to reinvigorate growth with cost restructuring and innovation efforts.
AI is a megabank money magnet: Bank of America’s 100-plus AI-related patents in 2022 were a plurality of its 608 total, while JPMorgan Chase topped an AI maturity benchmark.
They believe their FIs’ security measures are strong, but would like more controls—including biometric—for risky transactions.
It highlights the benefits and risks of the cloud, but doesn’t provide banks with much-needed guidance or standards.
After touting a recession-proof business model, the BNPL firm slashed 19% of its workforce and will restructure to the tune of $39M.
As banking app use continues rising, we run down how lenders can digitally stand out from the crowd.
Incumbents were slammed for hiking mortgage rates while keeping rates low for savers. Neobanks could capitalize on major banks’ inertia.
It and other US regulators promised to increase crackdowns on discriminatory behavior. But they must prove it’s not just a timely PR stunt.
They want to feel like they belong. This will take more than just a positive transactional interaction.
The region’s revenues and transaction volume increased 13% YoY and 8% YoY, respectively, despite the firm’s total 6% YoY revenue decline.
Partnering with StepChange will help support struggling customers, but it raises questions around the harm BNPL can cause.