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Artificial intelligence is reportedly one of the factors driving small- to medium-sized businesses (SMBs) to reduce their number of middle managers.
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SMBs have joined enterprises like Amazon and Meta in reducing their number of middle managers, Bloomberg reported Monday (June 30).
Among SMBs, the average number of direct reports for each supervisor doubled from three in...
The Supreme Court has rejected an appeal from a Coinbase customer fighting the IRS.
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That’s according to a report Monday (June 30) by Bloomberg News on the ongoing battle between Coinbase account holder James Harper and the Internal Revenue Service (IRS).
According to the report, the court refused to question an IRS summons that had forced Coinbase to turn over...
TomTom, the Dutch maker of GPS devices and apps, announced Monday (June 30) that it is cutting 300 jobs as it increasingly incorporates artificial intelligence (AI) into its business.
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The company said it will accelerate the use of AI for the development and improvement of its products. TomTom said it has updated its mapping technology and made its software easier to use...
Kraken has begun rolling out the availability of tokenized U.S. stocks and exchange-traded funds (ETFs) on its crypto platform for eligible non-U.S. clients.
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This new offering is powered by Backed’s xStocks and is meant to give eligible non-U.S. clients the ability to invest in American stocks and ETFs, according to a Monday (June 30) blog post.
Kraken began listing 60...
Sezzle has introduced features it says are designed to help customers weather increased financial pressure.
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“With record-low consumer confidence — the Conference Board’s index recently plunged to its lowest level since May 2020 amid fears of tariffs and recession — the current climate makes budgeting tools more essential than ever,” Sezzle said in a news release Monday...
Microsoft AI said Monday (June 30) that the Microsoft AI Diagnostic Orchestrator (MAI-DxO) correctly diagnoses 85% of diagnostically complex cases published by the New England Journal of Medicine (NEJM), compared to a mean accuracy of 20% among the practicing physicians the company included in a study.
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MAI-DxO also achieved correct diagnoses more cost effectively than...
Pay-later provider/digital bank Klarna has launched a partnership with checkout and identity platform Bolt.
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The collaboration, announced Monday (June 30), will integrate Klarna’s payment options into Bolt’s CheckoutOS.
“With customers increasingly seeking flexible payment solutions tailored to their needs, this integration empowers merchants to deepen engagement and...
Artificial intelligence (AI) chatbots and AI agents are reportedly taking on more tasks in the financial services industry.
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In some cases, these “digital employees” have company logins, the Wall Street Journal (WSJ) reported Monday (June 30).
BNY is now using two types of AI agents developed by its AI Hub, according to the report.
One spots vulnerabilities in company...
The digital age demands banks find new ways to ascertain at the point of onboarding that customers, whether enterprise clients or individuals, are who they say they are.
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PYMNTS Intelligence reported earlier this year that identity-related issues comprise 42% of all suspicious activity encountered by financial institutions.
Know your customer (KYC) mandates direct banks...
Canadian FinTech Nuvei says it is now a direct payment acquirer in its home country.
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The new capabilities, announced Monday (June 30) ahead of Canada Day on July 1, allow Canadian businesses to process domestic transactions locally through Nuvei, doing away with the need for third-party processors and allowing for higher payment approval rates.
“Becoming a direct...