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Google’s Layer 1 blockchain will provide a neutral infrastructure layer for use by financial institutions, Google Cloud Head of Strategy, Web3 Rich Widmann said Tuesday (Aug. 26).
Writing in a post on LinkedIn, Widmann said the blockchain, Google Cloud Universal Ledger (GCUL), “brings together years of R...
When the Consumer Financial Protection Bureau posts a notice in the Federal Register, the language is usually dense, procedural and, at least for some, easy to overlook.
A bulletin published Tuesday (Aug. 26) sets the stage for a new definition of “risks to consumers” in supervisory designation proceedings. It may quietly redraw the lines of who is, and who is not, subject to the CFPB’...
Circle and Paxos Trust reportedly devised a way to help companies verify digital asset holdings.
The two firms are working with Bluprynt, a FinTech startup founded by Georgetown Law School professor Chris Brummer, Bloomberg reported Wednesday (Aug. 27). They are employing cryptography and blockchain technology to offer issuer verification once stablecoins are released by a company.
A...
Tariffs have reportedly led to an increase in the number of wealthy Americans traveling to Europe to buy luxury goods.
Some consumers make these trips to avoid paying tariffs—although they are supposed to declare their purchases to customs agents upon their return to the U.S.—while others pay the tariffs and still come out ahead due to other savings, CNBC reported Wednesday (Aug. 27),...
Ant International and Standard Chartered are trialing a Swift-system-backed bank-to-wallet payment solution.
Live productions of this solution using the ISO 20022 financial messaging standards are underway, Standard Chartered announced Wednesday (Aug. 27).
Using Ant’s Alipay+ global wallet gateway services, the first transactions were completed between a Standard Chartered Bank...
In 2016, David Evans and Richard Schmalensee published the Harvard Business School Press book, Matchmakers: The New Economics of Multisided Platforms. The book explained what made platforms work, why so many failed, and why the ones that got it right reshaped entire industries. It gave executives, investors and policymakers a framework for understanding how businesses like Uber, Open Table,...
In today’s competitive card issuing market, sleek apps and fast approvals aren’t enough. The real advantage belongs to issuers that turn data into predictive insights and act on them in real time.
Issuer platforms are the center of all related data flows, and issuers increasingly need to leverage this data to maximize customer lifetime value (CLTV)—a critical metric that reflects the...
Watch more: Business Banking Platform Relay Evolves Into SMB Command Center
For most small businesses, the bank balance is still the financial dashboard.
“Ninety-two percent of small business owners make financial decisions based on their bank balance,” Relay co-founder and CEO Yoseph West told PYMNTS. “The problem is, with traditional banks, you just don’t get the visibility you need...
Watch more: Entersekt Warns Banks Can’t Beat Crime With Old Data Alone
In the battle against financial crime, data is both the sword and the shield. Fraudsters are faster, more sophisticated and more global than ever. Banks, payment providers and FinTech firms must respond with a mix of vigilance, agility and intelligence, built on information that is not just abundant, but actionable...
For years, accounting teams inside small- to medium-sized businesses (SMBs) were consigned to back-office number crunching.
Now they’re stepping into a more strategic role powered by the rise of embedded finance.
The technology, long billed as a tool to simplify customer payments, is reshaping how accountants forecast, manage liquidity and advise management on growth decisions.
The...