The Federal Reserve Board said Thursday (Nov. 21) that it prohibited Shan Hanes, a former CEO of Heartland Tri-State Bank who was convicted of embezzlement, from future participation in the banking industry. Hanes embezzled $47.1 million of bank funds, which led to the bank becoming...
Temu reportedly now allows any American brand or individual seller to join its online marketplace. The firm had been recruiting U.S. merchants for about six months but allowed them to join only if they had received an invite code, Modern Retail reported Thursday (Nov. 21)....
The payment ambitions of the largest, marquee names in technology now will come under greater scrutiny at the federal level. A finalized rule from the Consumer Financial Protection Bureau (CFPB), which was issued on Thursday (Nov. 21) will essentially treat the tech firms — with...
When autonomous driving firm Pony.ai goes public, Uber reportedly plans to invest. The ride hailing/food delivery company intends to purchase more than $10 million worth of shares in Pony.ai’s initial public offering (IPO), which is expected to be priced next week, Bloomberg News reported Thursday (Nov. 21), citing sources familiar with...
A new breed of autonomous artificial intelligence called agents is taking over customer service and operations at major companies, making decisions that, until recently, required human managers. The shift marks a turning point in enterprise automation as companies move beyond basic chatbots to deploy sophisticated...
Travel-industry-focused payment orchestration firm CellPoint Digital has raised $30 million in new funding. The financing, from Toscafund and Penta Capital, will help speed the launch of CellPoint’s Offer Order Service Delivery (OOSD) payment orchestration platform, created to power the travel industry’s transformation toward modern airline retailing, the company said in a...
Chinese conglomerate Alibaba is combining its domestic and international eCommerce businesses into one unit. According to a Thursday (Nov. 21) securities filing, the new Alibaba E-commerce Business Group melds together the company’s Taobao and Tmall Group and the Alibaba International Digital Commerce (AIDC) Group. Fan Jiang, CEO of...
True digital transformation in B2B payments requires more than just new technology. It demands an understanding of both sides of the transaction and the ability to simplify complexity without creating new friction points. Against this backdrop, Boost Payment Solutions Chief of Staff Sam Silver told...
Unlike consumer payments, where streamlined experiences reign supreme, business-to-business (B2B) transactions are fragmented and slow-moving. But companies like Finexio are stepping up to transform this complexity with integrated, artificial intelligence (AI)-powered solutions that drive efficiency and reduce costs. As digital transformation becomes vital, many businesses...
