Financial Services

The debit card gave Affirm a boost in active users and strong numbers, but to continue this pace of growth, Affirm may need to get creative

Whoever takes over the portfolio will gain 12 million cardholders—a large but potentially risky volume opportunity

The company got a boost from getting users to adopt its payments software, helping gross payment volume increase 69% YoY

Digital wallets are fast becoming consumers’ preferred way to pay, both in and out of the store.

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