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Citi UK CEO Tiina Lee reportedly said Thursday (June 26) that regulators should not place restrictions on banks’ cryptocurrency holdings that are so “prohibitive” that those assets are driven into the shadow banking sector.
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Speaking at TheCityUK’s annual conference in London, Lee addressed global rules that will be implemented next year that place a 1,250% risk weight...
Consumer credit data platform Spinwheel raised $30 million in new funding.
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The company’s Series A round will help Spinwheel accelerate the development of its agentic artificial intelligence capabilities, according to a Monday (June 23) press release.
“Today, the consumer credit ecosystem is buckling under the weight of legacy systems,” the release said. “U.S. consumer...
Worldline is reportedly weighing legal action following media allegations that the company permitted customer fraud.
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In a call with analysts late Wednesday (June 25) Pierre-Antoine Vacheron, chief executive of the French payments firm, blamed reports by European media collective EIC (European Investigative Collaborations) for the sharp drop in his company’s stock.
Per a...
ValidiFI’s instant bank account validation solution, vAccount, is powering a new bank account validation function that credit union service organization Velera offers its clients.
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This solution helps optimize the member onboarding and application processes by providing real-time bank account validation, improved efficiency, enhanced fraud protection and a seamless...
Watch more: Block Stops $2 Billion in Cash App Fraud by Alerting Customers to Scams
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There are signs that the good guys are gaining momentum against the bad guys.
Scammers have refined their methodologies, increasingly injecting a palpable sense of urgency into their schemes. Texts begging for money to help stranded family members and friends are seemingly everywhere....
Half of financial institutions reject micro-business loan applications due to unverifiable legitimacy. Among those with access to third-party data, confidence in credit decisions — and lender profitability — rises sharply. So why do many lenders still rely on incomplete, outdated records that stall approvals and raise risk?
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Smaller firms aren’t necessarily riskier —...
Watch more: Concora Credit’s CEO Looks to Expand Non-Prime Credit Access Through Partnerships
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While prime and super-prime consumers navigate a plethora of choices often driven by rewards, non-prime consumers are left out.
In an interview with PYMNTS CEO Karen Webster, Concora Credit CEO Bruce Weinstein detailed ways that providers (banks and non-banks, including...
Watch more: Legacy Infrastructure Won’t Cut It In a Pay By Bank World, Says Nuvei
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For businesses of all sizes, from agile startups to sprawling enterprises, cash flow is the lifeblood of their operations.
Robust cash flow is inextricably linked to the technological advancements witnessed in the payments sector over the past five to six years.
Pay by bank is poised to...
A rising tide of retail subscriptions is empowering consumers to master their spending, with a growing cohort strategically leveraging memberships to both Amazon Prime and Walmart+.
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A recent report from PYMNTS, titled “Subscription Surge: Consumers Use Walmart+ and Amazon Prime,” highlights a significant shift in consumer behavior, demonstrating how shoppers are...
Getting married this summer? Know someone who is? A wedding dress will set you back on average $2,100, according to The Knot. While that’s roughly on par with prior years, the stasis may not last, due to the administration’s fluctuating tariff policy against most countries, including China, where around 90% of wedding dresses are made.
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As the CEO of David’s Bridal,...