As the FinTech industry strides through 2024, it finds itself at the heart of a technological revolution with Artificial Intelligence (AI) beginning to stand out as one of the drivers on the charge. This era of innovation is remapping the contours of financial services, making operations more efficient, enhancing security measures, and personalizing customer experiences. The … [Read more...] about AI Unleashed: Remapping Fintech’s Future
payments
The Neobanking Revolution in 2024
The year 2024 stands as a landmark in the financial services landscape, marked in part by an expectation of continued growth in neobanking. Referring to a new breed of financial institution, these digital-first organizations are redefining the traditional banking model, catering to the modern demands for rapid, efficient, and personalized financial services by operating solely … [Read more...] about The Neobanking Revolution in 2024
Embracing the Future of Faster Payments
The digital era continues to redefine industries, propelling the payment sector to the forefront of this transformation. Both consumers and businesses, driven by the pressing need for speed and convenience, have been gravitating towards faster and real-time payment mechanisms. Same Day ACH: Meeting the Urgency As an embodiment of this demand for swiftness, the growth of Same … [Read more...] about Embracing the Future of Faster Payments
U.S. Faster Payments Implementation Increases
Consumers and businesses want to move payments faster. Three recent studies show growth in the use of the various flavors of faster payments in the United States. Instant payments services have reached an inflection point among financial services providers, with more than 60% using or setting up the RTP service and more than 40% setting up FedNow. Zell is approaching 80%, … [Read more...] about U.S. Faster Payments Implementation Increases
Noncash Payments Continue to Grow in the U.S.
Noncash payments in the U.S. continue to grow, with the total value increasing at a rate of 9.5% per year 2018 to 2021, according to the most recent survey data from the Federal Reserve. The survey also found that tht total number of noncash payments increased at a 5.6% CAGR over the same period, driven largely by increases in the value of card payments and ACH payments. … [Read more...] about Noncash Payments Continue to Grow in the U.S.
World Business Chicago Hosts First Fintech Exchange
World Business Chicago recently hosted its first FinTech Exchange at the Illinois Institute of Technology's University Technology Park. Chicago's economic development agency added financial technology to its sixth priority industry this year. The idea is to draw on the strength of Chicago's traditional financial institutions and trading experts to attract new businesses … [Read more...] about World Business Chicago Hosts First Fintech Exchange