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AI’s Impact on B2B Marketing Spotlights Value of Workflow Automation
Today’s increasingly digitized business-to-business (B2B) tech stack has transformed the way companies do business. At the same time, it is also transforming the way companies get business. That’s because, with the news last week (June 27) that accounts payable (AP) management firm Medius has introduced a pair of artificial...
DOJ Announces Sentencing in Former Outcome Health Executives’ Fraud Convictions
The Department of Justice (DOJ) has announced the sentences handed down to three former executives of Chicago-based health technology startup Outcome Health, who were convicted on fraud charges in April 2023. Rishi Shah, a co-founder and former CEO of Outcome, was sentenced to seven years and six months in prison;...
Visa Promotes Aurélien Pichon to Global Head of Client Services
Visa has promoted Aurélien Pichon, who had been its head of client services in Central Europe, Middle East and Africa (CEMEA) for the last two years, to global head of client services, effective immediately. In his new role, Pichon will lead a global team of nearly 4,000 members focused...
FTC Charges 2 Groups of Defendants, Alleging Unauthorized Billing Scheme
The Federal Trade Commission (FTC) filed a complaint against two groups of defendants, alleging they participated in an unauthorized billing scheme. The complaint charges the defendants with enrolling consumers, without their knowledge, in continuity plans in which they are repeatedly shipped products and charged for those products, which they did not agree to purchase, the FTC said in a Monday (July 1) press release.
How Many Chips Could You Buy With $74 Billion?
As tech giants worldwide scramble to dominate the artificial intelligence (AI) chip market, South Korea’s SK Hynix is making a $74.6 billion wager that could redefine the semiconductor industry — and perhaps the future of computing itself. The company reportedly said it will spend the money through 2028...
State Bank of India Launches Web-Based Invoice Financing Solution
The State Bank of India reportedly launched a web-based invoice financing solution for microbusinesses and small- to medium-sized businesses (SMBs). The new MSME Sahaj solution allows the bank’s customers to access financing against their sales invoices in less than 15 minutes, from application to disbursement, CNBC TV18 reported Monday (July 1).
3 Big Ideas: A Sneak Peek at the Women’s Wellness Index Report
Women are feeling the economic toll that healthcare bills exact, and for those without a financial safety net to fall back on, this burden can have a real impact on their well-being. The upcoming “2024 Women’s Wellness Index” report, a collaboration between PYMNTS Intelligence and CareCredit, a Synchrony solution, draws...
Basware Integrates With Amazon Business to Streamline Purchasing
Accounts payable automation and procurement solutions provider Basware announced an integration with Amazon Business. The collaboration is designed to streamline purchasing and procurement for customers, Basware said in a news release Monday (July 1). A new Amazon Business Integrated Search feature lets buyers search for items from Amazon Business and check out directly within Basware’s Procurement solution.
Robinhood Purchases Pluto to Provide AI-Powered Investment Advice
Trading platform Robinhood is acquiring artificial intelligence (AI) research service Pluto Capital. The purchase, as Bloomberg News reported Monday (July 1) is designed to offer Robinhood’s users more tailored investment strategies and analysis with the help of Pluto’s AI-driven personalized advice and real-time analytics. “They have built an...
CDK Expects to Have Hacked Systems Restored by July 4
CDK Global is reportedly restoring its systems that were hacked and expects to have all the car dealerships using its platform live by the morning of July 4. “We are continuing our phased approach to the restoration process and are rapidly bringing dealers live,” said Tony Macrito, senior communications director at CDK Global, Bloomberg reported Monday (July 1).
Report: Nvidia Target of French Antitrust Charges
Chipmaker Nvidia is reportedly about to be charged with antitrust violations in France. The French competition authority’s pending charges would follow a raid on Nvidia’s offices last year, Reuters reported Monday (July 1), citing sources familiar with the matter. Nvidia has seen its fortunes bloom in recent months...
Digital Asset Fund Outflows Slow, Signaling ‘Sentiment Is Turning’
Digital asset funds have seen outflows for three consecutive weeks, although the outflow slowed during the most recent week. After experiencing outflows of $600 million in each of two consecutive weeks, these funds saw an outflow of $30 million during the week that ended June 29, Bloomberg reported Monday (July 1), citing data from CoinShares International.
As MiCA Goes Live, Is Crypto Entering Its Regulation Era?
Crypto and Web3 firms have been asking for more regulatory clarity for years. And now, with the news Sunday (June 30) that the European Union’s landmark Markets in Crypto-Assets Act (MiCA) new regulatory requirements for stablecoin issuers have gone live, observers are wondering if the digital asset sector’s “Wild West” days are making their way to the rearview.
BIS Plans to Expand World’s Instant Payment Systems
The Bank for International Settlements (BIS) wants to expand the world’s largest instant payment system (IPS). BIS announced Monday (July 1), that it had completed the blueprint for the third phase of its Project Nexus, aimed at connecting the instant payment systems of several central banks. In phase four...
AI Explained: AI Alignment
As artificial intelligence systems grow increasingly powerful and ubiquitous, a critical challenge has emerged: ensuring these systems behave in beneficial ways that align with human values. This challenge, known as “AI alignment,” has become a focal point for researchers, tech companies and policymakers grappling with the far-reaching implications of advanced AI.
85% of Retailers See Rise in Online Card-Linked Pay Later Plans
With buy now, pay later (BNPL) plans becoming increasingly accepted across merchant sectors, retailers are proving to be the payment method’s biggest champion. A PYMNTS Intelligence report, “Merchants’ Evolving Perspective on the Value of Card-Linked Pay Later Plans,” created in collaboration with Splitit, drew from a survey of 100 merchants with expertise and leadership responsibilities in accounts receivable (AR), consumer billing and collections, and finance or financial operations. The report explored these merchants’ interest in offering various installment plans.
Report: Online Shopping Warehouse Boom Transforms Rural Towns
America’s love of online shopping has transformed communities like Shippensburg. The college town in the heart of Pennsylvania is the subject of a Bloomberg Businessweek piece published Monday (July 1) that examines the rise of boomtowns that have sprung up around eCommerce fulfillment warehouses. In the case of Shippensburg,...
Circle Attains EMI License From France, Achieves MiCA Compliance
Circle has attained an Electronic Money Institution (EMI) license from the French banking authority, thereby achieving compliance with the European Union’s (EU) Markets in Crypto-Assets (MiCA) regulatory framework. With this license from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), Circle’s French entity is now issuing USDC and...
Atlanta Fed Names Cheryl Venable as First VP and COO
The Federal Reserve Bank of Atlanta has a new first vice president and chief operating officer. Cheryl Venable, who has been with the bank since 1991, will assume her new role Aug. 1, the Federal Reserve announced in a news release Thursday (June 27). Her most recent position was as...
Thread Bank Responds to FDIC Enforcement Action
2024 is fast becoming the summer of consent orders for smaller banks. That’s because, with the news Friday (June 28) that Tennessee-based Thread Bancorp is now the latest financial institution (FI) to come under the Federal Deposit Insurance Corporation’s (FDIC) scrutiny, managing for the operational, compliance and strategic risks that come with third-party tie-ups is top of mind for both banks and their FinTech partners.
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