Banking-as-a-service fintech Synapse is having a rough year, to say the least. Earlier this month the company laid off 40% of its workforce, or 86 employees. This was on top of the 18% that the company laid off in June. There is the now very public dispute they have been having with Evolve Bank & Trust, highlighted by Fintech Business […]
Artificial Intelligence (AI) will foster the most change of any technology Ravi Subramanian has seen in his 25 years in finance because it allows visionaries to dream big. Subramanian is the EVP and head of banking practice for Hexaware Technologies, a global technology and business process services company. Thanks to technological advancements like AI, what […]
The digital revolution has had its benefits. Technology allows for many previously unthinkable efficiencies, and scalability is supercharged with a digital platform. No longer are financial institutions restricted to customers in their geographic location. Online, their reach can go miles further. But in some cases, integrating some “old school” tactics may be a distinct differentiator. […]
Last week, we featured a report that stated the Fed would be reaching a decision this week about a cut to debit card fees for merchants. Yesterday, they came back with a plan. The Fed proposed a cut of 30% to merchant fees when consumers shop with debit cards. The result is a drop from 21 cents […]
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Matt Bodkin Matt is a seasoned editorial cartoonist with a Bachelor of Fine Arts from Long Island University. He brings a strong background in the newspaper industry and skills in arts and design to his work. He aims to distill complex issues into funny doodles that resonate with readers. View all posts .pp-multiple-authors-boxes-wrapper.box-post-id-45383.pp-multiple-authors-layout-boxed.multiple-authors-target-shortcode.box-instance-id-1 .box-header-title { […]
The financial world is no stranger to fraud. According to a study by the Federal Trade Commission, fraud rates have increased consistently over the past three years. In 2022, consumers lost over $8.8 billion to scams. However, there is another beast that has plagued financial institutions and merchants. One that over 30% of Americans participate […]
The bustling Brazilian market for digital banks has grown in variety. Thirty-billion-dollar Nubank is expanding aggressively throughout Latin America. PicPay, a digital wallet, is signing up millions in Brazil, while Mercado Pago, the fintech arm of Argentine e-commerce giant Mercado Libre, is growing by leaps and bounds in the region. Traditional banks have rolled out […]
When a bank’s president says that executives are “talking internally about having a refresh on our due diligence protocols,” it’s not necessarily cause for concern. Maybe they just want to shake it up a bit. Given the current economic climate, improved due diligence is probably a good idea. But, in some cases, a “refresh” seems […]
Andrew Jamison, co-founder and CEO of Extend Hi guys, welcome to the Fintech Coffee Break. I’m your host Isabelle Castro. This week I shared my coffee break with Andrew Jamison, co-founder and CEO of Extend. SMBs have continued to be underserved by the banking ecosystem, and have been hit with even more challenges as the […]