The average consumer has 5.3 bank accounts. Now that the Consumer Financial Protection Bureau has issued a final rule on data sharing, the age of open banking can get fully underway in the United States, and it will be easier than ever for banks’ retail...
New artificial intelligence (AI) tools are changing how restaurants analyze customer data, test food safety and even reproduce scents in laboratories. The technologies include a natural language assistant for querying loyalty programs, an electronic tongue that achieved 95% accuracy in detecting food issues and a...
Clothing reseller ThredUp has chosen Amazon’s ex-luxury resale head as its new social commerce director. Danielle Vermeer will take on the newly-created role of head of social commerce beginning in January of next year, ThredUp said Tuesday (Nov. 11). “We are always building and innovating...
At a time when more financial institutions are monetizing consumers’ financial data, state policymakers should assess gaps in their data privacy laws, the Consumer Financial Protection Bureau (CFPB) said Tuesday (Nov. 12). The regulator found in a report released Tuesday that many states have adopted...
Risk management has been a longstanding principle in payments and commerce. Identifying risks, and being able to avoid them, is key to accelerating growth. And as businesses rely on digital payments, the role of the chief information security officer (CISO) has become central to protecting...
Financial regulators in the United Kingdom issued long-expected rules governing “critical third parties.” The new regulations, expected to go into effect Jan. 1, will govern major tech companies that work with financial firms in the U.K., according to a Tuesday (Nov. 12) press release. “Financial...
H&R Block will pay $7 million and change some of its practices under a proposed settlement that would resolve a Federal Trade Commission (FTC) lawsuit alleging that the company made deceptive claims about “free” tax filing. The FTC filed an administrative lawsuit against H&R Block in February,...
A major focus for Shopify has been ensuring its merchants are equipped to reach consumers wherever they are, Shopify President Harley Finkelstein noted Tuesday (Nov. 12) during the company’s third-quarter earnings call. By streamlining the shopping experience, Shopify officials want to connect its platform to key...
Alibaba reportedly unveiled an artificial intelligence (AI)-powered search engine designed to help small businesses in Europe and the Americas source supplies. Dubbed Accio, the search engine finds wholesale products in response to businesses’ text or image prompts, CNBC reported Tuesday (Nov. 12), saying it had viewed demonstrations of...
