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The changes at Prosper.com that I mentioned last week came to pass yesterday. They now have a new look, not...
Swift announced today that the European Payment Council's awkwardly named One-Leg-Out Instant Credit Transfer scheme (OCT Inst) went live this week and it enables payments to and from Europe to be processed 24 hours a day, seven days a week.
In one parameter, data show that 80% of USA consumers and 82% of Canadians use a payment or banking service connected to their primary accounts.
Brazil's Minister of Finance criticized "stratospheric" revolving credit card interest rates amid a campaign to push through economic reforms.
People with higher credit scores are more likely to have grown up in an environment where they learned how to use credit to their advantage.
We had an update from the Federal Reserve on FedNow this week. There are now 400 banks participating in the instant payments network as either a sender or receiver.
They launched last July with 35 institutions and have been growing steadily since then. The last public statement that I have heard was when FedNow chief, Mark Gould, spoke at the American Fintech Council's Policy Summit in November when they had 200 banks on the platform.
In a world where user experience is do or die, fintechs lose wallet share and loyalty due to mistakes around frontend design and development.
The buy-now-pay-later industry continues to grow in popularity. And part of the reason is consumers are starting to understand that most of BNPL stands outside the traditional credit scoring system.
BlueVine added new features to their business profile dashboard, like Quickbooks integration, and 1.2% interest on balances up to $100,000.
A new white paper from Tillo exposes the dark truths behind fintech customer loyalty. It also gives practical recommendations on what we can do about it.