Major banks are jointly developing a digital wallet to fend off competitors. But the execution must be flawless to succeed.
Bank of America, JPMorgan, and other banks are creating a digital wallet to compete with Apple Pay and PayPal—but there’s one catch.
Payment startups might be better off cutting costs and scaling back expansion plans until the funding climate improves.
The bank proactively identified the mishaps and avoided a penalty, but its violations show that even the basics can go wrong.
Complex sanctions, elaborate money laundering schemes, and powerful tech give financial criminals an upper hand.
On today's episode, we focus on how banks will innovate in 2023. In our “Headlines” segment, we discuss recent articles about what roles banks are hiring for and how banks will support open finance. In “Story by Numbers,” you’ll hear about key numbers that highlight digital innovation priorities. And in “Pretend CEO”—or in this case, “Pretend CDO”—our guest pretends he is interviewing to be the head of digital at a major banking institution in order to describe the innovation challenges facing the industry. Join the conversation with host Rob Rubin and our analyst Tyler Brown.
This year, card-not-present (CNP) fraud will account for $9.49 billion in loss, up 8.5% over last year, according to our data. CNP will make up 73.0% of card payment fraud loss this year, up from 57.0% in 2019.
The OCC is outlining steps it will take against large banks that continuously commit financial violations—it plans to make them less complex.
Banks that can deliver budgeting and spending tools will enjoy long-term customer trust and loyalty.
Unable to raise fresh capital, the Genesis is in talks with creditors about the $3 billion it owes them.
The Indian payments provider raised $350M for new products to diversify as competition intensifies.
Emirati paytech Tabby secured $58M in a sign of investor confidence in the region’s BNPL market potential.