News

Artificial Intelligence
AI Co-Pilots May Be The Future of Membership-Only Luxury Travel
December 15, 2023

We exist at the intersection of behavior and technology.  When innovation meets expectation, that’s where the magic happens — particularly as today’s consumers increasingly expect tailored content, services and products that cater to their unique preferences and needs.  Within certain industries, like the rapidly evolving...

IPO
FinTech IPO Index Jumps 7.3%, Lending Platforms Soar as Fed Signals Rate Cuts   
December 15, 2023

The Fed’s signaled a pause for now — and rate cuts on the horizon. The near-term horizon, that is, and as has been widely reported, the central bank anticipates that there are as many three cuts to come in 2024. If interest rates back off...

B2B Payments
Why Automation Alone Won’t Transform B2B Payments in 2024
December 15, 2023

In the world of B2B commerce, staying ahead of the curve is crucial for success. If only there weren’t so many ways and so many innovations to do so, making choosing the right path forward a roll of the dice. “The environment is changing so...

Retail
Cash-Strapped Consumers Are Still Buying Small Indulgences
December 14, 2023

There is an economic theory that can be traced back to the Great Depression of the 1930s: the Lipstick Effect, which suggests that even in the toughest economic times, consumers will still spend money on small indulgences such as lipstick.  Today, after two years of...

Retail
Chewy Launches Vet Service as Consumers Keep Spending on Pets
December 14, 2023

Pet products retailer Chewy is launching “Chewy Vet Care,” a network of pet health practices. The first of these veterinary practices will open in South Florida in early 2024, with more to come as the year goes on, offering services including routine appointments, urgent care and surgery, the company...

Faster Payments
FedNow Closes 2023 With 300-Plus FIs Using Instant Payments Network
December 14, 2023

The Federal Reserve says 331 financial institutions (FIs) are employing the FedNow® Service, its real-time payments system. The service launched in July with 35 participants, and is expected to continue growing in 2024, the central bank said in a Thursday (Dec. 14) news release. “These are still early days...

Investments
Smartpricing Raises $14 Million for AI-Powered Hotel Revenue Management
December 14, 2023

Smartpricing has raised $14 million to enhance its apartment and hotel sector revenue management software. The Italian company makes software designed to help hosts boost their revenue via machine learning models. The funding round came from a mix of equity and bank credit lines, EU...

Digital Banking
TD Bank and Plaid Partner to Ease Access to Apps
December 14, 2023

TD Bank Group and Plaid have partnered to eliminate the need for TD customers in Canada and the United States to share login credentials with third-party applications. With a new North American data-access agreement, these customers will be able to access and share financial information...

Investments
Salv Raises $4.3 Million to Expand Financial Crime Compliance Solutions 
December 14, 2023

Estonia-based Salv, a provider of financial crime compliance solutions, has raised 3.9 million euros ($4.29 million) in new funding to fuel its expansion in the United Kingdom.  With this investment, the firm has raised 7.9 million euros ($8.68 million) in 2023 and 12.1 million euros ($13.3...