The world of fintech is witnessing a seismic shift as Buy Now Pay Later (BNPL) payments gain unprecedented popularity. Companies like Block, owner of Afterpay, and PayPal are reporting sharp increases in the volume of BNPL transactions. The leaders at these fintech giants see BNPL as a critical connector to future growth, highlighting the immense potential that lies within this
Rho, a leading technology company, has recently announced its groundbreaking artificial intelligence (AI)-powered accounts payable (AP) automation capabilities. These innovative features are set to be integrated into the company’s all-in-one finance platform later this month, revolutionizing the way businesses handle their financial operations. AP Automation Capabilities: Streamlining Workflows and Enhancing Efficiency With Rho’s new AP automation capabilities, customers can now
In a move to enhance its digital offerings and improve working capital flow across supply chains, HSBC has invested $35 million in supply chain finance company Tradeshift. This investment is part of a larger funding round that is expected to raise a minimum of $70 million from HSBC and other investors. The ultimate aim is to establish a new joint
In an evolving digital landscape, embedded finance has emerged as a transformative concept, allowing agile fintech players and platforms like Shopify to seize ownership of the customer relationship. This shift has urged traditional financial institutions to reassess their positions, as they face relegation to low-margin utility roles. However, thoughtfully embracing embedded finance presents an opportunity for these institutions to reinvent
Generative artificial intelligence (AI) has rapidly emerged as a pivotal topic in today’s world, offering transformative potential for various sectors. In the banking industry, the significance of embracing generative AI is becoming increasingly apparent. With its ability to revolutionize banking functions, financial institutions must carefully consider the risks and rewards associated with this revolutionary technology. Citi CEO’s Perspective: Recognizing the
Contact centers have become the front line of support for customers facing financial stress. These interactions with financial institutions can often be challenging for both customers and agents, especially when it comes to collections. In this article, we will explore how Afiniti, an AI company, has revolutionized contact centers by using AI technology to improve customer interactions and ensure a
Embedded finance, a rapidly growing sector in the financial industry, refers to the seamless integration of financial services into non-financial platforms and experiences. As the digital economy continues to evolve, embedded finance is poised to revolutionize how consumers interact with financial products and services. According to EY estimates, the market size of global embedded finance is projected to expand from
In a groundbreaking move, Netbank, the Filipino embedded finance platform, has announced its strategic partnership with Pays0, a dynamic payments company, to offer seamless funds disbursement services through a cutting-edge application programming interface (API). This partnership is set to redefine the payments landscape in the Philippines and provide businesses with a transformative way to offer banking services to their customers.
In an era where embracing technological advancements is crucial for business success, BigCommerce has teamed up with Google Cloud to leverage AI technologies and integrate them into its eCommerce platform. The objective is to enhance operational efficiencies, provide a personalized customer experience, and ultimately drive more sales for enterprise merchants. Improved Operational Efficiencies One of the key features introduced by
In a move that aims to revolutionize the fintech industry, ASA, a leading provider of collaborative banking solutions, has formed a strategic partnership with Quansight Initiate, a renowned open-source community. The collaboration will connect ASA with the open-source community, enabling the company to build innovative solutions and provide expertise in machine learning, AI strategy, and architecture. This partnership holds great
In the ever-evolving landscape of banking regulations, keeping up with compliance requirements has become increasingly complex and time-consuming. However, the rise of regulatory technology (RegTech) presents a solution to this challenge. The global spend on RegTech is predicted to reach a staggering $207 billion by the year 2028, signaling the importance for banks to invest in automating their manual KYC
Portrait Analytics, an AI-powered startup, has recently secured $7 million in funding to develop an advanced research platform aimed at revolutionizing the investment analysis process. With the goal of accelerating the speed of discovery, the startup aims to assist analysts in reducing the overwhelming amount of reading required for comprehensive research. By incorporating cutting-edge generative AI search and summarization techniques,
