The financial services business model is perpetually at a crossroads and too often faces crosswinds. An uncertain economy like we see today often breeds hesitation; financial institutions may be tempted to slow down or pause technology investments not geared toward tightening balance sheets or finding greater efficiencies. However, those institutions that will come out of […]
We’re at a concerning milestone for both the U.S.’ savings and debt rates – the former seems to have stalled, while the latter is growing at an alarming rate. A new Bankrate survey found 48% of U.S. adults have enough emergency savings to cover at least three months of expenses, vs. 49% in 2022, while […]
Things seemed to be looking up for Upstart. Stocks were soaring through June and July as interest in AI piqued, and the headwinds to the lending space seemed to be abating. However, the company’s Q2 2023 earnings call was not as positive. Revenue was low in the last quarter, dropping to $135.7 million, down significantly […]
Amazon introduced its first credit card in Brazil, the latest move from the U.S. retail giant to expand its fintech reach in Latin America’s largest economy and bolster its e-commerce presence. The company introduced two Mastercard credit cards this week. One is aimed exclusively at Prime users, while the second is eligible for non-members. The […]
American mobility giant Uber kicks off its fintech business in Mexico, the latest move from the tech company to ramp up financial services overseas. San Francisco-based Uber, which completely disrupted the transportation industry, recently received a fintech license from the local regulator in Mexico. It will allow the ride-hailing app to enhance its services in […]
As lenders gravitate towards using artificial intelligence (AI), they must be dedicated to removing bias from their models. Luckily there are tools to help them maximize returns and minimize risks. FairPlay.ai co-founder and CEO Kareem Saleh has been at the intersection of AI and financial inclusion for most of his career. While EVP at ZestFinance […]
Hi guys, welcome to the Fintech Coffee Break, I’m your host Isabelle Castro. This week I shared my coffee break with Ralf Kubli from the Casper Association to talk about real world asset tokenisation. Real world asset tokenisation, Seen as a tool to improve efficiency and accessibility to financial instruments, is set to be a […]
Once described by Google CEO Sundar Pichai as “more significant than fire or electricity” to the development of humankind, AI could be a game changer for financial services. A staple in computer science since the 1950s, demand for AI has skyrocketed in recent years, with market growth set at 38.1% CAGR until 2030. It now […]
Block revealed it had beat forecasted earnings during its Q2 2023 call yesterday, August 3, despite the challenging economic backdrop. It was reported that quarterly net revenue was up on last year, reaching $5.53 billion. All but hardware revenue had increased year on year, hinting at the rising levels of competition in the POS space. […]
Stephany Kirkpatrick of Orum All areas of fintech are changing fast. But it is in payments where the most groundbreaking changes are happening right now. After years of development, we finally saw the launch of FedNow last month (on time!) as this country begins its transition to instant payments in earnest. My next guest on […]