July 12, 2024
FinTech IPO Index Surges 3.5% on Partnership Announcements Ahead of...
Earnings season’s about to begin – on Friday, but the FinTech IPO Index’s 3.4% rally these past five sessions came amid several new partnership announcements. Upstart Leads the Momentum Upstart...
July 11, 2024
Synapse-Connected Banks Reportedly Closer to Releasing Customer Funds
Banks connected to the collapse of Synapse are reportedly close to recovering customers’ frozen funds. These banks have made progress in putting together account information for those customers, which could mean their...
July 11, 2024
NYDFS Issues Guidance for Insurance Companies’ Use of AI
Insurers’ use of artificial intelligence (AI) must not discriminate against consumers, New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris said Thursday (July 11). Harris said this...
July 11, 2024
Markaaz CEO Says New Take on Data Helps Banks Close...
How do you really know a business? The credit score can be misleading, especially for a small business that has weathered the pandemic. A profit and loss statement shows the...
July 10, 2024
FDIC Warnings on Nonbanks Point to Gaps in Deposit Insurance
They say there are no guarantees in life. That sentiment applies to financial services — at least depending on where you look, or what promises are made by nonbanks. With...
July 10, 2024
RTP Network Transaction Value Leaps to $55B in Q2 as...
The RTP network set records in terms of both the number of transactions and the value of payments it enabled in the second quarter. The instant payments system operated by...
July 10, 2024
Mastercard to Facilitate Cross-Border Payments for Medical Tourism Association
Mastercard and the Medical Tourism Association (MTA) have teamed up to modernize the medical tourism experience for patients and providers around the world. The MTA will launch a one-stop platform called Better by...
July 09, 2024
Industry Groups Push Back Against Federal Cyber Incident Reporting Requirements
If digital transformation is at the forefront of innovation, then cybersecurity is at the forefront of digital transformation. As the world goes digital, security-critical sectors like healthcare, finance and more...
July 09, 2024
UnitedHealth Faces Antitrust Lawsuit Over Alleged Misconduct Post Change Healthcare...
UnitedHealth Group is at the center of a legal storm as directors of the health insurance giant face a lawsuit from a shareholder accusing the company of misleading investors regarding...
Instant insurance payouts benefit both customers and carriers by enhancing both speed and efficiency, but barriers such as costs and complexity are blocking the way to their adoption — especially for smaller insurers. The latest “Money Mobility Tracker®,” a collaboration with Ingo Payments, explains how insurance companies are jumping these hurdles by collaborating with FinTechs to facilitate instant payments implementation.
Consumers increasingly want to receive insurance disbursements instantly, yet insurers are sending instant payments less. PYMNTS Intelligence’s latest 22-page report, “Generation Instant: Growing Use of Instant Pay for Insurance Disbursements,” a collaboration with Ingo Payments, contains five charts revealing how this mismatch in demand and supply presents a missed opportunity for insurers to improve customer satisfaction.