May 9, 2024 @ 9:15 am By Omar Faridi  |  

As Wisconsin becomes the latest state to regulate Earned Wage Access (EWA) services, we connected with Nico Simko, founder and CEO of on-demand pay app Clair, to discuss the ever-changing EWA landscape, the impact of local state government’s efforts to protect consumers, and more. Nico… Read More

 Tagged clair, ewa, interview, nico simko

May 9, 2024 @ 8:08 am By Omar Faridi  |  

Affirm (NASDAQ: AFRM), a Fintech focused on BNPL services, delivered another set of solid results/earnings in their third fiscal quarter. Affirm is reporting $6.3 billion in gross merchandise volume (GMV). The Fintech firm is reporting $576 million in revenue, $231 million in revenue less transaction… Read More

 Tagged affirm, bnpl, fintech adoption, progress report

May 9, 2024 @ 8:02 am By Omar Faridi  |  

Three-quarters of Australian companies are using or piloting Artificial Intelligence (AI) in financial reporting – and in three years time the number will be 100%, according to a KPMG International survey. The biggest leap will be in the use of Generative AI (GenAI), “currently being… Read More

 Tagged audit, kpmg, research

May 9, 2024 @ 8:01 am By Omar Faridi  |  

Varo Bank, a federally chartered digital bank, has shared research about the impact of inflation on cash-sensitive consumers in a new Wealth Watch Insights report. The data shows the strain inflation has caused for this demographic, “with 89% of respondents reporting that they now rely… Read More

 Tagged financial services, inflation, research, varo, varo bank

May 8, 2024 @ 5:19 pm By JD Alois  |  

Robinhood (NASDAQ:HOOD) is reporting “record” revenues of $618 million, up 40% year-over-year, and GAAP Diluted EPS of $0.18 for Q1 of 2024. The modern spin on a brokerage that incorporates crypto said net deposits stood at $11.2 billion with “positive transfers from every major incumbent brokerage… Read More

 Tagged robinhood

May 8, 2024 @ 4:50 pm By Omar Faridi  |  

Hong Kong Monetary Authority (HKMA) welcomes the pilot launch of the Shenzhen-Hong Kong cross-boundary data validation platform The Shenzhen and Hong Kong authorities announced (6 May) the pilot launch of the Shenzhen-Hong Kong cross-boundary data validation platform. The platform utilizes blockchain technology and data coding… Read More

 Tagged data validation, hkma, hong kong, shenzhen

May 8, 2024 @ 4:48 pm By Omar Faridi  |  

Yes Bank, a private sector bank in India, and EBANX, a global fintech company specialized in payment solutions for emerging markets, announced a strategic partnership for payment processing in India, for the global digital economy. This collaboration represents a significant milestone in the digital payments… Read More

 Tagged ebanx, fintech adoption, india, yes bank

May 8, 2024 @ 3:58 pm By Omar Faridi  |  

At PayPal (NASDAQ: PYPL), they claim to be focused on a goal to empower consumers and merchants worldwide to engage in the global economy, all while doing good in the world. The PayPal 2023 Global Impact Report details how their progress on their corporate sustainability… Read More

 Tagged digitalization, payments, paypal

May 8, 2024 @ 3:57 pm By Omar Faridi  |  

Research from RedCompass Labs, a firm focused on payments modernization, has revealed that US banks are failing to meet demand for instant payments. The report, “Time to leave legacy behind? Instant payments in the US”,  “surveyed 300 senior payment professionals in US banks to get… Read More

 Tagged banking, payments, redcompass labs, research

May 8, 2024 @ 2:41 pm By Omar Faridi  |  

SoFi (NASDAQ: SOFI) will be supporting Zelle which is being rolled out after requests from clients. Zelle is a bank-owned instant payments and transfer service that is broadly available in the banking world. SoFi states that Zelle is one of the most requested features for… Read More

 Tagged digital payments, digital transactions, sofi, zelle