Banktech/Fintech

Even with its IPO on ice, the Swedish buy now/pay later lender is building a base of high-profile distribution partners.

For too long, banks have outsourced innovation, placing their future in the hands of outside vendors. That's no longer a viable strategy. Banks need to bring innovation in-house again.

At a New York Fintech Week event, speakers urged fintechs to better understand the criminal mindset and to use artificial intelligence to detect and thwart fraud.

The credit card issuer trimmed its outlook on revenue and average loan growth, but maintained its target for net loss rates against the backdrop of an otherwise solid quarter. The company also announced a new co-branded credit card with Crypto.com. 

The British fintech last year added six sources to its Karma system, which allows employees to gain or lose points based on their behavior. Those points help determine bonus payments.

The USDC issuer is trying to connect financial institutions across borders for instant settlement, an industry goal that has proven elusive.

Revolut served more customers than HSBC last year. The British fintech aims to launch its Mexican bank in the coming months.

Small-business owners will be given the option to tap into anywhere from $50,000 to $500,000 in financing.

As criminals embrace new tools to exploit payment systems, Visa reports that older methods like enumeration and digital skimming are still thriving.