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Cigna Launches E-Treatment Service for Convenient Patient Access
As the telehealth sector is projected to reach $450 billion by 2032, Cigna Healthcare recently launched an “E-Treatment” option via MDLIVE, offering customers access to urgent care from board-certified doctors without the need for direct phone or video consultations. Starting this month, patients can submit a virtual clinical...
This Week in Web3: Blockchain Succeeds Where Crypto Can’t
People and businesses tend to think of crypto in one of two ways. The first is that crypto and blockchain more broadly are transforming technologies that will reshape the financial and payments sectors. This view tends to be held by people and businesses that believe in crypto. The second view...
Businesses May See Cost of Capital Relief as Fed Slashes Rates
The Federal Reserve cut interest rates by 0.5% Wednesday (Sept. 18), the first cut in four years. While stocks gyrated Wednesday and were down slightly in the afternoon, how the rate cuts will filter through the capital markets remains to be seen. Not just for consumers, but also for businesses.
German Central Bank: Mergers Must Yield ‘Robust’ Competition
The chief of Germany’s central bank wants bank mergers to produce robust, competitive institutions. “We need strong and robust banks so that companies can tackle and finance their future tasks,” Bundesbank chief Joachim Nagel said while addressing a Commerzbank event in Frankfurt on Wednesday (Sept. 18). “In case...
UK’s FCA Cautions Banks About Lowering Savings Rates Too Quickly
At a time when the market expects interest rates to continue dropping, the United Kingdom’s Financial Conduct Authority (FCA) is cautioning banks and building societies about lowering the rates they offer on consumers’ savings faster than they raised them. The regulator said in an update posted Wednesday (Sept....
Amazon Teams With PayPal as Buy With Prime Shoppers Jump 50%
Amazon launched a new integration with PayPal amid a surge in Buy with Prime use. The eCommerce giant revealed several enhancements to its merchant and shopper offerings at its Accelerate seller conference, according to a Wednesday (Sept. 18) press release. Among the enhancements, participating brands using the Buy with Prime...
JPMorgan Joins BIS Cross-Border Payments Project Using Digital Currencies
Some of the world’s biggest banks and payments firms are teaming to rethink cross-border payments. As Bloomberg News reported Wednesday (Sept. 18), the Bank for International Settlements (BIS) has recruited the likes of JPMorgan Chase, Deutsche Bank, UBS, Visa and Mastercard for its Agora project. That project, first announced...
Mastercard Offers Grants and Mentorship to Women Entrepreneurs in Canada
Mastercard is inviting women entrepreneurs in Canada to apply to receive one of 10 $10,000 CAD ($7,396) grants and access to mentorship opportunities to help them grow and scale their businesses. The company will accept applications for the Mastercard x Pier Five Small Business Fund until Nov. 3, it said...
AI Regulation: Experts Ask for US Oversight as Diligent Debuts EU Compliance Tools
As artificial intelligence (AI) experts urge for greater transparency and oversight in a Senate testimony, California is enacting laws protecting actors from unauthorized AI cloning, highlighting the growing push for responsible AI governance. Meanwhile, tech companies like Diligent are stepping up to offer compliance tools for upcoming EU AI regulations, underscoring the global nature of the AI regulation challenge.
Reducing the Attack Surface: How Data Breaches Imperil Corporate Networks
Data breaches are like opinions — these days, it seems like everyone has one. But that’s not great news for the business landscape, particularly as critical infrastructure providers are increasingly targeted by bad actors. And with the news Tuesday (Sept. 17) that the Federal Communications Commission (FCC) announced...
CSI Buys Overdraft Management Firm Velocity Solutions to Help Banks Grow
Financial technology provider CSI acquired overdraft management software firm Velocity Solutions. “Our customers rely on us to provide the advanced tools and software that drive revenue, efficiency and cost savings,” CSI CEO and President David Culbertson said in a Wednesday (Sept. 18) news release. “Velocity’s data-driven approach to deposit management and its intelligent overdraft decisioning engine are each designed to deepen relationships with account holders while minimizing risk exposure for financial institutions.”
Amazon Adds Fully Managed Option to Supply Chain Services
Amazon has added a fully managed option to the lineup of supply chain services it offers to sellers. The new fully managed Supply Chain by Amazon solution will be available to all U.S. sellers for domestic pickups in October and will be expanded to global pickups by the end of the year, the company said in a Wednesday (Sept. 18) blog post.
Volt Launches Pay-by-Bank Partnership With Luxury Retailer Farfetch
Real-time payments platform Volt has launched a partnership with luxury retailer Farfetch. The collaboration, announced Wednesday (Sept. 18), allows Farfetch customers in the U.K., Germany and the Netherlands make instant payments directly from their bank accounts. “With the real-time payments integration, Farfetch customers can now complete their payments in a...
Yotta Alleges Theft of Customer Funds in Evolve Lawsuit
The continued fallout from the collapse of Synapse Financial Technologies has heightened the discussion — and regulatory examination — of how end-user and various types of accounts are handled as FinTechs and banks join forces. As a new legal front to the saga opens in a courtroom, the...
Craigslist Founder Craig Newmark Says US ‘Under Attack’ From Hackers
Saying the United States is “under attack,” Craigslist founder Craig Newmark reportedly made a $100 million cybersecurity pledge. Newmark said the country is at risk for hacking by foreign governments, The Wall Street Journal reported Wednesday (Sept. 18). As such, Newmark is donating $50 million to protect infrastructure like power grids against cyberterrorism, and the rest of the money to cybersecurity education.
Brex Launches Embedded Payments Solutions for B2B Software Vendors
Brex has launched an embedded payments solution designed to make it easy for B2B software vendors to accelerate customer workflows with Brex virtual cards. The new Brex Embedded payments solution complements the company’s corporate card and spend management platform for startups and enterprises, Brex said in a Wednesday (Sept. 18) press release.
NASA’s Supply Chain Issues Put Spotlight on B2B Vendor Risk
NASA operates one of the most complex supply chains in the world. Its procurement processes span numerous industries, ranging from aerospace and electronics to materials science and logistics. That supply chain came under a spotlight with the Tuesday (Sept. 17) news that Axiom Space, a key NASA partner on the...
Visa and Dtcpay Partner to Facilitate Use of Digital Currencies
Visa and Singapore-based digital payments solutions provider dtcpay partnered to help consumers and businesses convert digital currencies into fiat and make digital payments. By integrating dtcpay’s digital payments capabilities with Visa’s global payments network, this collaboration will enable access to 130 million merchants in more than 200 countries and territories, the companies said in a Wednesday (Sept. 18) press release.
FICO and Jersey Telecom Team to Combat APP Fraud
FICO is working with Jersey Telecom (JT) to push back against authorized push payment fraud. The analytics software company said Wednesday (Sept. 18) it has collaborated with the British Channel Islands-based telecom to develop a solution that allows for “direct, near real-time intervention” to protect customers against fraud.
Dollar Stores’ Slow Sales Aren’t Cramping Expansion Plans
The two biggest dollar store chains in the United States plan to open hundreds of locations despite cooling sales. Dollar Tree and Dollar General aim to open more than 1,300 new stores during this fiscal year, The Wall Street Journal reported Wednesday (Sept. 18). While that figure is down from...
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