July 05, 2024
Global Real-Time Payments to Top $58T by 2028
Real-time payments continue to advance globally. Banks, FinTechs, corporates and governments are all pursuing initiatives to accelerate payments for their citizens and customers. Real-Time Payments in the United States In...
July 03, 2024
Hawk Updates AI Platform to Enhance Financial Crime Detection
Hawk’s artificial intelligence (AI)-powered anti-financial crime platform now includes additional capabilities for spotting risk by identifying links between data points. The company’s new Entity Risk Detection module brings together entity...
July 01, 2024
DEA: Drug Traffickers Found Citi ‘Favorable’ for Money Laundering
Federal investigators say drug traffickers laundered money through Citigroup, believing it had looser fraud measures. As the Financial Times (FT) reported Monday (July 1), a newly unsealed indictment alleges that...
June 27, 2024
Evolve Confirms Ransomware Hack as Challenges Grow at FinTech Partner...
It’s been a bad month for Evolve Bank & Trust, and it’s only getting worse. Following a “cease and desist” order issued to the bank on June 14, the Arkansas-based...
June 27, 2024
Regulating Digital Currencies: Ensuring an Efficient and Competitive Payment Market
There is consensus that promoting competition and innovation is a foundational principle in regulating Central Bank Digital Currencies (“CBDCs”). Competition with existing means of payment (“inter-system competition”) should always be...
June 27, 2024
Surviving Regulation by Enforcement
In the 16 years since Satoshi Nakamoto published the original Bitcoin whitepaper, U.S. regulators have failed to promulgate regulations to provide a clear legal framework for the burgeoning digital asset...
June 26, 2024
Nubank Accelerates AI-First Strategy With Hyperplane Acquisition
Digital banking platform Nubank has acquired data intelligence company Hyperplane, saying this move will accelerate its artificial intelligence (AI)-first strategy. With the addition of Hyperplane’s capabilities to Nubank’s existing AI...
June 25, 2024
Trending: Banking-as-a-Service Upheaval Will Stabilize
One of the themes in PYMNTS’ monthly “What’s Next in Payments” series is that the Banking-as-a-Service (BaaS) model is under pressure right now. Synapse declared bankruptcy, while Evolve Bank and...
June 20, 2024
Singapore Says Banking Sector Is Top Money Laundering Risk
Singapore has identified banks as the entities posing the greatest money laundering (ML) risk to the country. The Monetary Authority of Singapore (MAS), which is a government agency, said this in...
The Credit Union Innovation Playbook, in collaboration with PSCU, delves into the innovation agendas of players in the credit union ecosystem. Each edition of the Playbook hones in on a specific innovation focus, exploring the differences between how credit union members and leaders prioritize innovation in four select areas: risk and fraud, digital banking, data and analytics, and loyalty.