Technology

Beast Industries, owned by the YouTube star known as MrBeast, has acquired the Gen Z-oriented financial wellness app Step.

The iOS technology enables payments without requiring merchants to add extra hardware. The card network is embedding the option into a broader suite of merchant technology to bolster its services strategy amid competition from Mastercard and fintechs like Block and Stripe.

In a future world where AI agents transacting in stablecoins are a major factor in the U.S. economy, the Fed's traditional metrics for identifying an economic downturn will leave policymakers dangerously behind the curve.

Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.

Kohler Credit Union, Think Bank and Communication Federal Credit Union gave their onboarding and direct deposit tech an upgrade through fintech partnerships.

Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment's own systems.

Artificial intelligence developments are stoking investor fears about software companies. Banks' limited exposure to the sector and general stability is proving attractive to investors.

Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.

While the e-commerce giant has deemphasized the technology, banks and payment firms are testing the biometric option.

CEO Max Levchin said the lender is testing technology that allows merchants to perform more advanced testing of promotional financing offers.