PYMNTS-MonitorEdge-May-2024

banking

Banking is an industry that handles cash, credit, and other financial transactions. Banks provide a safe place to store extra cash and credit. One key step towards financial independence is having a solid banking account.

CFPB: States Should Fill Gaps in Laws to Protect Consumers’ Financial Data
CFPB: States Should Fill Gaps in Laws to Protect Consumers’ Financial Data
November 12, 2024  |  CFPB

At a time when more financial institutions are monetizing consumers’ financial data, state policymakers should assess gaps in their data privacy laws, the Consumer Financial...

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Only 4% of US Households Are Unbanked
Only 4% of US Households Are Unbanked
November 12, 2024  |  Consumer Insights

The percentage of households in the United States that are unbanked declined to a record low in 2023. At 4.2% of U.S. households, or 5.6...

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UK’s FCA Fines Metro Bank $21 Million for Money Laundering Protection Lapses
UK’s FCA Fines Metro Bank $21 Million for Money Laundering Protection Lapses
November 12, 2024  |  AML

The United Kingdom’s finance regulator fined Metro Bank for failing to monitor money laundering risks. The Financial Conduct Authority said Metro must pay 16.7 million...

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Technology Collaboration Set to ‘Supercharge’ Service-Oriented Approach
Technology Collaboration Set to ‘Supercharge’ Service-Oriented Approach
November 12, 2024  |  Opinion

Collaboration will be key for payment industry players to deliver value in marketing, fraud, risk and operations, Banyan Chief Commercial Officer Mike Minelli writes in...

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Ualá Eyes Banking Expansion After $2.75 Billion Valuation
Ualá Eyes Banking Expansion After $2.75 Billion Valuation
November 11, 2024  |  Investments

Argentina’s Ualá has reportedly raised $300 million, valuing the FinTech at $2.75 billion. “We’re going to use this to scale Argentina, where my goal is to...

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Why Banks Might Want to Have a Blockchain Strategy
Why Banks Might Want to Have a Blockchain Strategy
November 11, 2024  |  Blockchain

The definition of crypto has historically oscillated between two poles: buzzword and true innovation. And to hear the industry’s executives tell it, the lack of...

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Staying Competitive: Why Speed and Efficiency Are Crucial for Loan Origination
Staying Competitive: Why Speed and Efficiency Are Crucial for Loan Origination
November 11, 2024  |  Opinion

Banks and credit unions face pressure to meet rising consumer expectations for fast, personalized and seamless digital experiences, Amount Chief Product and Technology Officer Kevin...

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J.P. Morgan: Digital Identities Key to Scaling Financial Blockchains
J.P. Morgan: Digital Identities Key to Scaling Financial Blockchains
November 08, 2024  |  Blockchain

What can blockchain technology do for financial services in a friendly regulatory environment? With a new president coming in 2025, the ecosystem is about to...

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