July 09, 2024
FTC Report Raises Concerns Over PBM Market Consolidation and Drug...
In a detailed interim report, the U.S. Federal Trade Commission (FTC) has highlighted significant concerns over the consolidation of pharmacies and health insurance companies, pointing to the outsized influence a...
July 09, 2024
Fifth Third Bank Fined $20 Million for Improper Auto Lending...
Fifth Third Bank must pay $20 million to resolve litigation in its auto lending practices. The settlement followed an investigation by the Consumer Financial Protection Bureau, which accused the bank...
July 09, 2024
Traditional Banks Go Digital as Neobanks Face Regulatory Heat
As regulators draw a bead on neobanks, traditional financial institutions are acting more like neobanks. Open banking looks set to transform financial services in the United States, and the approach,...
July 09, 2024
European Banking Authority to Consider Reporting Requirements for Nonbanks
European Banking Authority Chairman Jose Manuel Campa said the watchdog organization may make reporting requirements for nonbank financial institutions a “next step.” Campa said the rapid expansion of the “shadow...
July 08, 2024
ESQ Data and CashPilot Form Workflow Automation Partnership
ESQ Data Solutions has formed a partnership with Austrian cash management solution company CashPilot. The collaboration is in response to demand from financial institutions, retailers, managed service providers and cash-in-transit companies for...
July 08, 2024
Ingo Payments’ Edwards Says Regulatory Tightrope Will Be BaaS’s Proving...
As the banking and payments business cross into the second half of 2024, many executives say we’re at a pivotal juncture — one that will require a steady hand on...
July 08, 2024
Exclusive: Visa Aims Value-Added Services at Helping Banks Capture Gen...
There’s the payment and then there’s everything that happens around it. That’s why financial services companies, from insurance to FinTechs to enterprise-grade banks, add services to protect, analyze and optimize...
July 07, 2024
AutoRek and J.P. Morgan Payments Partner on Insurance Company Receivables
InsurTech firm AutoRek has partnered with J.P. Morgan Payments to help insurance companies overcome data challenges with a more connected, streamlined infrastructure. With these capabilities, insurance companies can unlock new market opportunities, the...
July 05, 2024
China’s AI Patent Boom: 38,000 Filings Dwarf Global Rivals
China has emerged as the dominant force in generative artificial intelligence (AI) patents, outpacing global competitors by a significant margin, according to a new report from the World Intellectual Property...
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.