Новости за 19.07.2024

Open banking, as it emerges more fully in the United States, promises to bring personalized services and products to customers, expanding financial access. Data underpins the joint efforts of traditional financial institutions (FIs) and third parties to bring those innovations to the mass market. But as recent communications from banks to the Consumer Financial Protection […]

As OpenAI unveils its compact GPT-4o mini and pursues human-level reasoning with “Project Strawberry,” AI’s reach expands across industries, sparking innovation and concern. From potentially homogenizing creativity to transforming finance and construction, AI’s rapid advance has regulators and businesses scrambling to harness its power while navigating risks like algorithmic bias and data privacy issues. Creativity […]

As the restaurant industry aims to figure out how to use subscriptions to drive loyalty, some are finding that offering free menu items is not particularly cost effective, instead shifting to discounting models. In the United Kingdom, coffee chain Pret a Manger has reportedly drawn ire from its Club Pret subscribers, per publications such as […]

Earlier this month at The Lead Summit in New York City, Jed Berger, president of apparel company Kenneth Cole Productions, and PJ Oleksak, CEO of Nuts.com, offered valuable perspectives on steering their companies through transformative changes while preserving brand integrity. Kenneth Cole, renowned for his innovative designs, made headlines when he took his eponymous company private […]

In today’s digital world, effective use of data defines increasingly defines business success. That makes it critically important for businesses to define what both good data and bad data looks like. Data isn’t created equally, making enterprise-level data standardization key to fueling decision-making, unlocking operational efficiency and enabling sustainable, strategic growth. Conversely, dirty data — […]

Despite big budgets and bold plans, a new survey conducted by PYMNTS Intelligence reveals most large companies are struggling to implement AI in meaningful ways, lagging behind in the race to leverage artificial intelligence for transformative business impact. The findings detailed in “The Impact Of GenAI on a COO’s Priorities,” the third edition of PYMNTS […]

Both UPS and FedEx told their customers Friday (July 19) that package deliveries may be delayed due to the global Microsoft outage that began late Thursday (July 18). “A third-party software outage is impacting some UPS computer systems,” UPS said in a service alert on its website. “While the UPS network is operating and delivering […]

In an era where luxury is becoming increasingly defined by personalization, wealthy consumers are demanding that brands innovate, tailoring their offerings to match their individual preferences. Take, for instance, luxury giant LVMH. The company’s Selective Retailing business, offering “personalized shopping experiences matched to individual aspirations,” focuses on curation and on maintaining highly individualized shopper relationships. […]

Chinese consumers are reportedly choosing to repay debt and buy wealth management products, despite government efforts to get them to spend. The country’s consumers put less money in the bank in June but didn’t spend that money, Reuters reported Friday (July 19). “The year-on-year decrease in excess savings growth has not yet translated into increased consumption,” […]

Paytm reported Friday (July 19) that its operating revenue slipped again in the quarter ended in June as it continued to deal with regulatory troubles. The Indian FinTech’s operating revenue for the quarter was about 15 billion rupees, down from 19.8 billion rupees in the previous quarter and 23.4 billion rupees in the same period […]

American Express earnings released on Friday (July 19) show that consumers continue to spend on experiences — particularly on dining out, and that momentum belongs to the younger generations who are using their cards more often. Spending by millennial and Gen Z customers was up 13% year over year, management said. CFO Christophe Le Caillec […]

The outage that continued to snarl systems from airports to stock exchanges Friday morning started when it struck users of Microsoft’s Windows operating system late Thursday (July 18) and early Friday (July 19) and was caused by cybersecurity firm CrowdStrike’s software update, CrowdStrike CEO George Kurtz said in a Friday post on X. “CrowdStrike is […]

In the race to harness artificial intelligence (AI), businesses are discovering an unexpected wrinkle: AI that sparks individual brilliance may be flattening the creative landscape. As companies from tech startups to Madison Avenue ad agencies embrace these digital muses, they’re grappling with a paradox that could reshape innovation — and their bottom lines. A recent […]

The Consumer Financial Protection Bureau (CFPB) is intensifying its scrutiny of SoLo Funds, a lending startup backed by tennis star Serena Williams. The CFPB has introduced a proposed rule that would restrict the way SoLo charges its customers. This action follows a lawsuit filed by the regulator earlier this year, alleging deceptive lending practices by […]

Today’s restaurant customers crave the convenience of contactless payments, and opportunities abound to provide them. However, the comfort of conventional payment methods, coupled with the challenges of staffing shortages and broader macroeconomic factors, is impacting adoption rates, leaving some restaurants at risk of losing diners to more innovative competitors. Newer technologies such as digital wallets, […]

Anniversaries are a time to reflect, evaluate and to anticipate what lies ahead. And so it is with the FedNow® Service, which celebrates a year in the marketplace on July 20. As of now, about 700 banks have signed on to the new federal payments system infrastructure. The vast majority of those financial institutions (FIs) […]

In a business landscape that moves fast, standing still can be fatal. Digital innovation has sharpened the knife of inertia, and the collaboration between traditional banks and FinTech companies is becoming crucial for competitive differentiation. The partnership between banks and FinTechs allows each party to focus on its core strengths. Banks can continue to offer […]

As Amazon and Walmart compete to win consumers’ retail spending, it seems the former may have had more success with its summer deals event than the latter, widening the gap beyond even last year’s marked disparity.   The eCommerce behemoth shared Thursday (July 18) that Prime Day participation reached new heights, “with record sales and […]

The right customer data, in the right hands, can have a transformative impact on businesses. But in the wrong hands, the same sensitive information can be leveraged by bad actors and cybercriminals with catastrophic and increasingly costly outcomes. “If you think about what bad guys are doing, they are putting together a picture of us […]

Earnings season has yet to start making headlines and moving stocks in the FinTech IPO Index, but the overall group was up 3.8% through the week, and platforms were the prime movers. Lemonade shares surged more than 21%. In a Tuesday (July 16) announcement, Lemonade said that it had launched buildings and contents insurance in […]

We exist within an era where technology constantly pushes the boundaries of what is possible. And it doesn’t appear to be stopping any time soon. That’s why PYMNTS sat down with Steve Sterling, Managing Director for the Americas at Holoconnects, to unpack the applications of 3D hologram displays, particularly within healthcare. After all, Sterling’s own […]

In the Land of the Rising Sun, where tradition meets technology, Japan is navigating a digital crossroads. Despite pioneering 3G technology and boasting a vibrant mobile culture, the nation finds itself grappling with a curious paradox: While at the forefront of technological innovation, its digital engagement metrics tell a different story. In a society where […]

The outage at Swift that affected the Bank of England also impacted the European Central Bank. The outage, which lasted for several hours on Thursday (July 18), disrupted high-value transactions across Europe, the Financial Times (FT) reported Thursday. The European Central Bank said its settlements system was affected by the Swift outage, according to the […]

The United Kingdom’s Financial Conduct Authority (FCA) is looking to change its guidance to ensure that financial firms do not treat politicians and public servants unfairly. The FCA released proposed amendments to its guidance relating to politically exposed persons (PEPs) on Thursday (July 18) and invited public feedback on the changes to be submitted by […]

Netflix released its second-quarter earnings on Thursday (July 18), emphasizing its ongoing foray into the advertising realm initiated in late 2022. The streaming giant posted a 17% surge in revenue to $9.56 billion, buoyed by a 16% year-over-year uptick in average paid memberships, with an operating margin of 27%, up from 22% in Q2 2023. […]