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Organizations are grappling with the dual challenges of their legacy infrastructure and rapidly evolving technological demands to operate.
A business case and contract request shared by London’s Metropolitan Police Service (MPS), for example, revealed that when it comes to core back-office platforms such as enterprise resource planning (ERP) systems, upgrading legacy infrastructure is not merely...
The latest artificial intelligence models are delivering mixed signals about the technology’s pace of advancement, with some showing dramatic leaps forward while others hit unexpected roadblocks.
The complex picture emerges at a crucial moment for businesses navigating AI investment decisions, as researchers debate whether recent achievements — from advances in scientific reasoning to struggles...
The Federal Deposit Insurance Corporation (FDIC) board of directors reportedly votedunanimously to authorize potential legal action against six former officers and 11 former directors of Silicon Valley Bank (SVB).
This authorization was approved by both Democrats and Republicans on the board, Reuters reported Tuesday (Dec. 17).
In past legal actions taken against executives at failed banks, the...
America’s leading consumer finance watchdog is warning credit card companies not to devalue rewards points.
The Consumer Financial Protection Bureau (CFPB) issued a policy circular Wednesday (Dec. 18) arguing that companies that devalue or cancel those points could be breaking the law.
“Rewards program operators often assert their ability to unilaterally modify credit card rewards programs, which...
Instant payments are rapidly becoming a preferred method for disbursements, revolutionizing how consumers, SMBs and enterprise senders manage their finances. And there is a consistent theme: As adoption grows, satisfaction and financial performance improve.
For consumers, instant payments offer speed and convenience. These faster payments allow them to receive funds quickly, particularly when...
Trust is both the foundation and the future of payments.
But that doesn’t make maintaining it any easier. There are five big threats to maintaining that trust between payments and financial services providers and the end-customers they serve: Credit risk, payments risk, counterparty risk, fraud and security risk and compliance risk.
While each risk vector demands attention, Boost Payment...
Complexities breed inefficiency, as business-to-business (B2B) payments throughout their history have proven.
But B2B payments should be simple, easy and secure. In an era when digital transformation is reshaping every element of business operations, virtual cards are emerging as a powerful tool to help streamline payments, improve financial control and foster strong relationships between buyers...
The payments industry faces the dual challenge of enhancing user experience while combating sophisticated fraud.
“There’s a lot of emphasis on doing things as frictionless as possible,” Sunny Thakkar, head of global fraud, disputes and authentication products at Worldpay, told PYMNTS during a discussion for the “What’s Next in Payments: The Payments Circle of Trust and Risk” series.
“People have...
Small to mid-sized businesses (SMBs) across the U.S. face struggles due to fragmented and inefficient business-to-business (B2B) payment systems. While many SMBs recognize the potential of integrated solutions to streamline operations, cost concerns and security challenges remain obstacles to adoption.
A PYMNTS Intelligence report, “More Than Half of SMBs Would Switch to an Integrated B2B Payment...
Researchers say they have demonstrated a potential method to extract artificial intelligence (AI) models by capturing electromagnetic signals from computers, claiming accuracy rates above 99%.
The discovery could pose challenges for commercial AI development, where companies like OpenAI, Anthropic and Google have invested heavily in proprietary models. However, experts say that the real-world...