The Synapse bankruptcy saga continues to rock the BaaS world, marked by last week’s revelation of $85 million in missing funds. The plot thickened last week when former CEO Sankaet Pathak disclosed in bankruptcy court that funds were commingled, leaving the task of determining rightful...
The Consumer Financial Protection Bureau (CFPB) has been validated in the aftermath of last week’s U.S. Supreme Court rejection of a challenge to its congressional funding structure. But the ongoing debate over financial regulation and consumer protection will go on and the financial services industry...
In the bid to build a financial services ecosystem, and a super app that marries commerce and banking, there’s a 800-pound gorilla in the space that bears watching. Though Walmart’s previous and ongoing efforts to branch out into banking have not yet borne the fruit...
Super apps like Alibaba’s Alipay and Tencent’s WeChat have become super successful in Asia. Their market dominance in turn has made Western entrepreneurs “super” interested in building their own, perhaps none more so than Elon Musk. The South African-born tech titan has recently added more...
July 26, 2024
As the financial services landscape rapidly evolves, traditional banks and financial institutions (FIs) find themselves at a pivotal juncture. The emergence of embedded finance and banking-as-a-service (BaaS) is revolutionizing the industry, pushing banks to adapt or risk being outpaced by nimble competitors from the Big Tech and FinTech sectors. A recent PYMNTS Intelligence report, “Embedded […]
August 10, 2023
In the bid to build a financial services ecosystem, and a super app that marries commerce and banking, there’s a 800-pound gorilla in the space that bears watching. Though Walmart’s...
August 03, 2023
Super apps like Alibaba’s Alipay and Tencent’s WeChat have become super successful in Asia. Their market dominance in turn has made Western entrepreneurs “super” interested in building their own, perhaps...
July 13, 2023
Is the social media landscape too crowded? The winners of today’s attention economy don’t seem to think so. That’s why Meta, the parent company of social behemoth Facebook, last week...
April 17, 2023
Smaller banks could face tougher global regulations in the wake of last month’s banking crisis. That’s according to a report Monday (April 17) by the Financial Times, citing comments from policymakers at the IMF meetings in Washington, D.C. The report notes that The Basel Committee on Banking Supervision, which established global standards, had pledged in […]
