JPMorgan head of fintech: Prepare for the ‘platform of platforms’ economy
Financial institutions should plan now for the next major tech-based business paradigm — the platform of platforms. If that’s confusing, think of Uber. A platforms platform essentially means one...
View ArticleGoldman to buy GreenSky for $2.24B for payment plans
Goldman Sachs Group Inc. agreed to buy GreenSky Inc. for about $2.24 billion, adding to its Marcus consumer-banking platform a company that offers payment plans to customers with home-improvement...
View ArticleAstra, Plaid partnership to simplify automation of ACH transfers
ACH automation platform Astra is seeing its customer base grow after launching a partnership with Plaid last month that allows the financial aggregator and integration platform to offer a connection to...
View ArticleRemitly’s IPO reveals details of its technology moves
Remittance fintech Remitly began trading on the Nasdaq Thursday, with its IPO starting at $43. The Seattle-based company’s S-1 filings, filed ahead of its IPO reveal details about some of the fintech’s...
View ArticleAvidXchange unveils IPO
Payments automation company AvidXchange Holdings Inc. this week filed an initial public offering for its common stock with the U.S. Securities and Exchange Commission in an effort to raise up to $444.6...
View ArticleAussie fintechs rake in more than $621M in funding
Australian fintechs were the darlings of this week’s funding rounds, with three fintechs bringing in more than $621 million. Here is Bank Automation News’ funding roundup for the week ended Oct. 8....
View ArticleBanks and real-time payments players team up on cross-border payments
Banks on both sides of the Atlantic have created a high-speed cross-border payments proof-of-concept project headed up by three powerhouses of payment and messaging. The Immediate Cross-Border payments...
View ArticleHow to solve the electronic payments challenge with automation
By eliminating manual tasks, streamlining processes and optimizing data, receivables automation has the potential to reduce costs, facilitate better forecasting and improve cash flows. While...
View ArticleMoney 20/20: Employee demand rises for instant payments
Growing employee demand for being paid instantly rather than biweekly ― led by today's gig economy ― is soon expected to spill over into more traditional employers' payroll systems. That was the...
View ArticleBNPL helps reach the unbanked in Mexico
While buy now pay later (BNPL) transactions in the U.S. are expected to expand in coming years, Mexico is well ahead of the U.S. as traditional financial institutions in the country have left the...
View ArticleBuffett-backed StoneCo sheds $22B in value since peaking
Brazilian payments firm StoneCo Ltd. plunged the most on record after disappointing results in the third quarter cast further doubt on the company’s recovery. The fintech, which counts Warren Buffett’s...
View ArticleBlockchains could save banks $10B in cross-border payments costs by 2030
Cross-border payments in their current form tend to be slow, costly and offer limited transparency and traceability. Deploying blockchains — a technology used to maintain shared ledgers across a...
View ArticleHow businesses can use virtual cards to fight AP fraud and boost efficiency
Why virtual cards matter: The cost of accounts payable (AP) fraud can be high for businesses. Nearly one in four companies report a payment fraud attack each year, according to Ardent Partners....
View ArticleCanadian prepaid market bolsters innovation rail for businesses and consumers
Prepaid payments are primed to be the main innovation rail for the Canadian payments market, as developments in automated banking and consumer technology make headway and market size grows. The...
View ArticleListen: Weekly Wrap examines wholesale CBDC foreign exchange
In this Weekly Wrap episode of "The Buzz" podcast, the Bank Automation News editors discuss HSBC and IBM's use of distributed ledger technology to conduct commercial central bank digital currency...
View ArticleLondon’s fintech boom opens the door for dirty money
A 10-minute walk from the Bank of England, on the eastern edge of the City of London, lies a gateway to a new shadow world of money. Here on Dukes Place is the office of Moorwand Ltd., one of a...
View Article3 ways technology has changed payments
Payments technology and systems changed in three key ways in 2021. Today, those changes are unlocking opportunities for financial institutions and fintechs — as well as their business and retail...
View ArticleUS Bank to launch consumer Request for Payment in Q1
US Bankcorp announced Thursday that it will offer real-time payments for consumer bill pay in the first quarter. The $559 billion bank successfully completed a test that included real-time settlement...
View ArticleBy the numbers: 9 out of 10 FI consumers use digital payments such as Zelle
The future of payments is contactless, if 2021 is any indication, as digital payment services like Zelle and PayPal become increasingly ubiquitous. Ninety-three percent of 2,000 adults surveyed in a...
View ArticleDailyPay goes live with digital wallet, gives users access to pre-payday funds
Payroll fintech DailyPay has gone live with its digital wallet solution, which provides users access to earned wages before payday, as well as the ability to make payments and perform real-time...
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