The payments company will fire about 40% of its employees, with CEO Jack Dorsey attributing the move to the impact of artificial intelligence. While investors cheered the move, analysts also raised questions about the company's functionality, and Dorsey said other companies will make similar moves.
Bank employees are likely adopting the OpenClaw AI assistant on the sly to boost productivity, but the tool's deep integration exposes networks to cyber threats.
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Recent reports from JD Power suggest that more customers choose payment alternatives to avoid surcharge fees.
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Noelle Acheson argues that stablecoins can help community banks deepen relationships with their customers, help them explore new forms of capital formation and strengthen their own exposure to risk.
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In this week's American Banker global payments and fintech roundup, Revolut, Tether and Circle made announcements designed to improve their standing in the stablecoin market. That comes amid new research from McKinsey that says the digital asset is growing quickly, but has not made even a small dent in payments.
Cybersecurity stocks tumbled after Anthropic unveiled a new vulnerability scanner, prompting vendors to defend their runtime protection platforms.
Acquiring the $386 million-asset Pacific West Bancorp extends a strengthening bull market for bank M&A.
Though changes to bank capital rules previewed by Federal Reserve Vice Chair for Supervision Michelle Bowman in February being viewed as welcome, experts say other more significant hurdles — not all of them regulatory — are keeping banks on the sidelines of mortgage servicing and lending.
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The threats posed by financial criminals, from fraudsters to money launderers, are evolving at a pace that far outstrips the education of bankers charged with combating them. That needs to change.
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Decisions about the kind of blockchains to use in rolling out banking products creates future path dependencies. It's important that banks get this decision right.
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A negative work environment with unhappy employees is going to adversely impact the customer experience, even when employees don't voice their dissatisfaction out loud. Bank managers need to create a positive culture.
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Though changes to bank capital rules previewed by Federal Reserve Vice Chair for Supervision Michelle Bowman in February being viewed as welcome, experts say other more significant hurdles — not all of them regulatory — are keeping banks on the sidelines of mortgage servicing and lending.
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The proposed national trust charter company would be a wholly owned subsidiary of Morgan Stanley. The application was filed on Feb. 18.
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The Royal Bank of Canada's base outlook is that tariffs will remain at their current levels. But it also sees a possibility that U.S. trade policy will bring on a severe North American recession.
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For the first time since early September 2022, the Freddie Mac Primary Mortgage Market Survey has the 30-year below 6%, but the 15-year gained this week.
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BMO moved closer to hitting company-wide and U.S. profit targets after reporting increased first-quarter profits.
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The 23rd annual ranking of women leaders in the banking industry.
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