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Lili Teams With Dun & Bradstreet on Business Banking
Lili, a small business-focused financial platform, launched a business banking collaboration with Dun & Bradstreet. “More than three-quarters of small business owners are concerned about their ability to access capital, and hurdles in accessing credit can significantly curtail business growth,” the companies said in a Tuesday (Aug. 13) news release provided to PYMNTS. “Through this integration with Dun & Bradstreet, Lili continues its mission to simplify business finances and provide business owners with the tools they need to succeed.”
Collaborative Defense: The Role of ‘Intelligent Friction’ and AI in Fraud Prevention
Every now and then, an executive in the payments business comes up with a catchphrase that captures a complex concept, and you know it’s going to resonate. A good example lies in describing the tension between tight security protocols and practices and a positive customer experience. The catchphrase that nails it is “intelligent friction.”
Local Roots: How Community FIs Can Win the Digital-First Generation
Forget megabanks. Gen Z and millennials are eyeing the local bank or credit union as their next financial home. The reason could propel community FIs to the forefront of the digital-first financial ecosystem. Young retail banking customers are keeping an eye on the exits at their current FIs. These digital...
Citi: Faster Payments Help Treasurers Extract ‘Last Drop’ of Liquidity From Financial Ecosystems
Corporate treasurers once were relegated to the back office, manipulating spreadsheets, preparing audits, handing printed reports off to more senior management — the folks charting the company’s course ahead. But as Ambrish Bansal, global head of Liquidity and Cash Concentration Products, for the Citi Treasury and Trade Solutions...
Cleveland Fed: CEOs Expect Lower Inflation Over Next 12 Months
Business leaders in the United States are reportedly growing more optimistic about the likely trend of inflation. CEOs and other top executives said in July that they expect inflation to be 3.4% over the next 12 months, an expectation that is down from the 3.8% these leaders said in April that they anticipated, the Federal Reserve Bank of Cleveland said in a Monday (Aug. 12) press release.
Charter Communications Sees a Customer Drop Post-ACP, Seeks New Ways to Retain Clients
Charter Communications is facing challenges following the termination of the Affordable Connectivity Program (ACP), a federal initiative that provided subsidies for internet service to low-income households, reporting a decline of 149,000 residential internet customers in the second quarter of 2024, primarily attributed to the end of the ACP. About 100,000...
India’s Axis Bank and Visa Partner on ‘Ultra-Premium’ Credit Card
Axis Bank has partnered with Visa to launch an “ultra-premium” credit card in India. The new card, Primus, will be offered by invitation only and will cater to select, ultra-high-net-worth individuals — defined as those with a net worth of over $30 million — Axis Bank, one of the largest private sector banks in India, said in a Monday (Aug. 12) press release.
Digital B2B Payments Turn User Experience Into a Superpower
Not all B2B payments have a great user experience (UX). But all great B2B payments elevate the end-user experience. The problem with building convenience into business payments is that, while in theory it sounds relatively simple, in practice it ends up being incredibly difficult. B2B payments exist primarily below the...
Tipping, Fees May Be Diners’ Tipping Point
Much has been made of tipflation, the upward march of the tips paid at the table and for delivery, which adds to the bill and subtracts from diners’ wallets. As PYMNTS Intelligence’s own reporting on the perceptions surrounding inflation shows, roughly three-quarters of consumers have been cognizant of the impact of price increases from their favorite eateries. The pinch is apparent with table service restaurants and quick-service outposts, and the read across is that delivery apps are denting consumers’ wallets, too.
Google Ramps Up Smartphone Push With Latest Pixel Devices
Google will reportedly make a more aggressive push into consumer devices with the upcoming launch of its latest Pixel smartphones. The company signaled this effort by moving up the launch of the phone from October to August, scheduling it before the debut of the next iPhone from its rival, Apple, Bloomberg reported Monday (Aug. 12).
SEC Alleges NovaTech Ltd Ran Fraudulent Crypto-Centered Scheme
The Securities and Exchange Commission (SEC) charged NovaTech Ltd, its operators, Cynthia and Eddy Petion, and the company’s top promoters with running a fraudulent scheme centered on crypto assets. The defendants are charged with running a multi-level marketing company that claimed it would invest victims’ funds in crypto assets...
Fed Sees Credit and Revolving Debt Inch Upward in July
Banks have reported earnings, and the Federal Reserve’s quarterly report on the status of banks’ assets, liabilities and other aspects of financial conditions are in. June’s data is a snapshot in time. Some weekly data points from the Fed since then point to what we might term a form of “credit creep” and a continuation of trends that were in play leading to the halfway point of the year.
Recent Google Ruling May Open Door to More AI-Powered eCommerce
The recent federal court ruling against Google’s search monopoly could usher in a shift in online shopping, potentially reshaping how consumers discover products and businesses market them. In the decision, U.S. District Judge Amit Mehta found Google violated antitrust law, challenging the tech giant’s long-standing dominance in search. The...
CFTC: Cost Management Solutions Must Pay $100,000 for Failing to Register as Introducing Broker
The Commodity Futures Trading Commission (CFTC) said Monday (Aug. 12) that it required Cost Management Solutions (CMS) to pay a $100,000 civil monetary penalty after finding that the company failed to register as an introducing broker (IB). The regulator issued an order that both filed and settled the charges against...
98% of Financially Strained Restaurant Customers Are Cutting Back
As consumers bear the burden of inflation, PYMNTS Intelligence reveals that nearly all individuals living paycheck to paycheck are making trade-offs when it comes to restaurant spending. The latest installment of PYMNTS Intelligence’s series “New Reality Check: The Paycheck-to-Paycheck Report,” the “How Consumer Perception of Inflation Forces Many to Trade...
@Girls Host: Social Commerce Is Influencing More Personal Content
As consumers increasingly look to social media to inspire their shopping, the social commerce space is becoming more and more about individual creators’ personalities. Jillian Lenna, content creator at 10PM Curfew and host of the @girls page with more than 12 million TikTok followers and 7 million Instagram followers, said in an interview with PYMNTS that, rather than, say, reposted memes, social commerce is trending toward original, personal photos and videos.
Could AI-Powered Humanoid Robots Be Coming to Retail Stores?
The potential for artificial intelligence (AI) humanoid robots in factories and stores is sparking debate among experts on the future of work and commerce. While companies explore humanoid robots for tasks from assembly to customer service, opinions vary widely on their adoption rate and implications. The consensus among experts leans toward gradual integration rather than rapid revolution, with key challenges in technology development, workforce adaptation, and customer acceptance still to be overcome.
Beekman 1802 Co-Founder: AI Enables More Compelling Retail Education
As beauty brands look for ways to explain their products to consumers without losing the shopper’s interest, Beekman 1802 is seeing artificial intelligence and augmented reality open possibilities for more engrossing educational experiences. Physician (and reality television star) Dr. Brent Ridge, co-founder of the skincare brand, discussed with PYMNTS...
Judge Says Plaintiffs Can File Amended Antitrust Lawsuit Against Google
A federal judge in California is giving plaintiffs a chance to file an amended lawsuit after dismissing their antitrust lawsuit against Google. The lawsuit accuses the tech giant of unlawfully dominating web search on smartphones, Reuters reported Monday (Aug. 12). In a ruling delivered Friday (Aug. 9), U.S. District Judge...
AI Explained: Chain-of-Thought AI Shows Its Decision-Making
Chain-of-thought AI, a new approach aimed at making artificial intelligence systems more transparent and interpretable, has gained attention as a potential solution to the longstanding “black box” problem in machine learning.. Chain-of-thought (CoT)...
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