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Contrary to perceptions of financial irresponsibility, a significant portion of subprime borrowers actively and strategically use credit to improve their financial standing, revealing an underserved market segment with a strong desire for traditional financial inclusion. It’s one of the insights drawn from the recent PYMNTS report “High Credit Card Denial Rates Force Subprime Borrowers to Turn to...
Credit unions tend to evoke images of simple, brick-and-mortar institutions, where friendly employees who know you by name make up for the lack of financial bells and whistles at big banks. That almost quaint perception is rapidly becoming outdated.
America’s smallest financial institutions are innovating in financial products and services for their members. Even pint-sized credit unions are...
The battle for the small and medium-sized business (SMB) share of wallet is heating up.
While larger national and regional banks often leverage vast resources and extensive product suites, credit unions (CUs) possess unique strengths that position them as powerful contenders, particularly in specific segments of the SMB market.
Understanding these advantages and strategically enhancing their...
Entertainment venues as well as travel and hospitality operators have promised frictionless service for years, but long lines persist. Fans and travelers still miss key moments by waiting in line for concessions or hotel check-ins, compromising satisfaction and operator revenue. Traditional point-of-sale (POS) systems, meant to streamline these transactions, fall short, creating bottlenecks...
The Senate is set to vote on a stablecoin bill, the GENIUS Act, Monday (May 19) evening.
The vote will be held after a group of crypto-friendly Democrats signaled they would vote for the bill, Bloomberg reported Monday.
In an earlier vote, all Democratic senators voted against the GENIUS Act, citing concerns about consumer protections, anti-money laundering provisions, regulation of foreign...
JPMorgan Chase CEO Jamie Dimon said Monday (May 19) that the markets have not accounted for the risks of inflation, stagflation, credit spreads, tariffs and other challenges.
Dimon said at the bank’s investor day that the chances of inflation and stagflation are greater than people think; credit spreads haven’t accounted for a potential downturn; the impact of tariffs is difficult to predict; and...
The Justice Department is reportedly investigating the data breach announced last week by Coinbase Global.
Coinbase Chief Legal Officer Paul Grewal told Bloomberg in a report posted Monday (May 19): “We have notified and are working with the DOJ and other U.S. and international law enforcement agencies and welcome law enforcement’s pursuit of criminal charges against these bad actors.”
The...
Stablecoin issuer Circle denied a Monday (May 19) media report that it was in informal talks about a potential sale to Coinbase Global or Ripple while still pursuing the initial public offering (IPO) it filed in April.
In a statement provided to PYMNTS, a Circle spokesperson said: “Circle is not for sale. Our long-term goals remain the same.”
Seeking Alpha had reported Monday, citing a paywalled...
Artificial intelligence (AI) model training and inference are two terms that are thrown about when talking about the technology. But they are two distinct stages of AI development — a differentiation that would benefit businesses to understand.
AI training is the process of teaching a machine learning model to recognize patterns by feeding it large amounts of data. Think of it as the learning...
JPMorgan Chase CEO Jamie Dimon said Monday (May 19) that the bank now offers its clients access to bitcoin.
Dimon announced this at the bank’s annual investor day, while reiterating his own skepticism about digital currency, CNBC reported Monday.
“We are going to allow you to buy it,” Dimon said, per the report. “We’re not going to custody it. We’re going to put it in statements for clients.”...