June 18, 2024
TravelPerk Acquires AmTrav as US Business Travel Rebounds
TravelPerk is expanding into the U.S. by acquiring fellow business travel platform, Chicago-based AmTrav. “Both platforms will capitalize on proprietary tech, AI capabilities, and expanded resources to further expand in...
June 17, 2024
Advance Payments Program Focused on Change Healthcare Cyberattack to End
A federal program that addressed Medicare funding issues arising from the February cyberattack on UnitedHealth Group’s Change Healthcare will conclude on July 12. The Accelerated and Advance Payment (AAP) Program...
June 17, 2024
Four Japanese Insurers Penalize Officials Over Price-Fixing Scandal
Four major Japanese insurers have announced punitive measures against 132 officials implicated in a price-fixing scandal involving insurance contracts for corporate clients. The actions mark a stern response to allegations...
June 17, 2024
Buy Insurance Through Banks? Gen Z Says Yes
Forty-four percent of U.S. consumers are interested in purchasing insurance products directly through their financial institutions (FIs), and this interest is especially strong among younger consumers and those with higher...
June 17, 2024
Aim Security Raises $18 Million for AI Cybersecurity
Aim Security, a company that helps enterprises safely adopt artificial intelligence (AI), has raised $18 million. The Israeli company said it was one of the “fastest Series A rounds in cybersecurity...
June 17, 2024
Making Sense of For Benefit Accounts (FBOs) and FinTech’s Future
The recent Synapse bankruptcy represents one of the biggest implosions in the FinTech sector’s history. The ongoing mess at the banking-as-a-service (BaaS) platform has affected over a hundred thousand U.S....
June 17, 2024
Evolve Was Served a Cease-and-Desist Order — Now What?
The Federal Reserve Board issued a “cease and desist” order against Evolve Bancorp and its subsidiary, Evolve Bank & Trust, that may have a chilling effect on bank-FinTech partnerships. In addition...
June 14, 2024
NYCB Discloses Signature Bank’s Total Fair Value Was $37.8 Billion
New York Community Bancorp (NYCB) released financial information about its March acquisition of certain assets of Signature Bridge Bank, the successor to Signature Bank, from that bank’s receiver, the Federal...
June 14, 2024
FinTech IPO Tracker Loses 3.8% Despite Affirm’s Rally on Apple...
Affirm saw its stock rally 7.8% this past week, but the overall trend for the FinTech IPO Index was down, as the group sank 3.8%. Affirm Gets a Bump from...
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.
Nearly one-third of consumers say they are more interested in buying insurance from their FI than they were three years ago. PYMNTS Intelligence’s latest 33-page study, “Why Consumers Are Looking to Financial Institutions for Insurance,” a collaboration with Franklin Madison, features nine charts that explore how Gen Z and millennial insurance buyers are rejecting the status quo of more traditional sources for insurance.