Hackers, targeting fewer but richer victims, doubled profits in 2023. This surge pressures companies into costly payoffs. Businesses must prioritize cybersecurity to curb this trend.
To out-influence Gen Zers’ favorite financial social media creators, banks should mimic certain finfluencer strategies.
Slowing growth, layoffs, and a push to improve profitability set PayPal up for “transition year.”
The BNPL industry is angling for long-term profitability by exploring subscription services and reworking loyalty strategies
But in-person are transactions still vital to the company’s strategy, unlike many competitors that are going all in on digital remittances
It’s executing a three-pronged strategy in hopes of turning around its struggling wealth management business.
As debts rise and credit quality weakens, banks are tightening lending standards, and consumers are starting to turn to alternative payment methods
This move solidifies Mastercard’s leadership in this high-value payments space
While these offerings can improve sales and customer satisfaction, merchants must also take into account this added and very costly risk
On the podcast we discuss what to expect as banks deploy more AI in 2024. We chat about several use cases for AI, like customer service and chatbots, personalized banking services, fraud detection and prevention, credit scoring and risk assessment, as well as personalized marketing. In “Place Your Bets,” we distribute 10 points to four predictions in order to rank the relative likeliness that each one will come true. We rank the following to see which is most likely to happen in 2024: news stories about overzealous chatbots stops banks from rolling them out, regulators squash attempts to use AI for investment advice, the deployment of AI enables banks to initiate massive layoffs, and small banks and credit unions are able to win more customers because of their deployment of AI for customer service. Listen to the conversation with host Rob Rubin and our analysts Jacob Bourne and Gadjo Sevilla.
Traditional financial institutions need new strategies to hold their ground against big tech and fintech competitors.
The digital wallet has yet to gain significant traction in the online checkout space, but partnerships like this one with Nuvei push it in the right direction
We may see the companies increase their reliance on AI in response to their workforce reductions
The annual charges increased across all six cards, but Amex is hoping the enhanced rewards will offset the added consumer costs