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BNPL poised to ‘steal growth, elevate customer experience’ from credit cards

BankInovation

Those were the key takeaways from a BNPL session at Future of Fintech conference on Wednesday in New York that was presented by market intelligence firm CB Insights. "We Credit cards could lose ground to buy now pay later (BNPL) service providers, which have a promising future with multiple potential growth paths.

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New York Banks Should Get Into Online Lending

PYMNTS

Online lending may be dominated by startup companies based outside of New York, but the New York State Department of Financial Services (NYDFS) wants New York banks to get into the business as well. The products could help serve lower-income people who live in New York and don’t have access to banking.

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Weekly Wrap: Visa acquires Plaid and retailers embrace fintech

Bank Innovation

In this episode, editors discuss the following news developments: The overlap of retail with financial services, and reflections on the National Retail Federation annual conference in New York; Visa’s acquisition of Plaid and what it means […].

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Envestnet Yodlee, Fintech Sandbox: Underserved customers still face obstacles

Bank Innovation

As the number of digital finance platforms grow, the pool of consumers underserved by the financial system is cause for concern, industry practitioners said at a financial services conference in New York this week.

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NY Seizes Municipal Credit Union After Embezzlement

PYMNTS

New York’s Department of Financial Services seized Municipal Credit Union , New York’s oldest credit union, on Friday (May 17), saying it is facing “unsafe and unsound” conditions. million worth of New York State Lottery tickets with the money he embezzled.

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Wealthfront FinTech Rolls Out Debit Account Capability

PYMNTS

Even in pre-pandemic times, some of the key initiatives from financial institutions were focused on improving the customer experience, while at the same time focusing on fraud prevention,” he said.

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What banks are saying about AI

BankInovation

NEW YORK — Banks are looking into AI use cases within their operations, but many are proceeding with caution as they keep customer experience, data collection and, especially, regulation in mind. Financial institutions discussed AI within the industry at Fintech Nexus on Wednesday.