• What ChatGPT and Spend Management Have in Common

    The viral success of ChatGPT points to the huge potential of generative artificial intelligence (AI) tools to be a major game-changer for businesses. In the spend management space, for example, Jamie Anderson, chief revenue officer at U.K. spend optimization firm Emburse, said AI could be transformative, helping firms that have gathered years’ worth of data […]

  • Biden’s Budget Blueprint Triples Fraud-Fighting Staff

    Preventing fraud and identity theft is reportedly a key component of President Biden’s cost-cutting plans. The administration’s budget blueprint includes targeting fraud by bolstering the Justice Department teams that investigate criminal organizations — tripling the number of such teams — and aiming to reduce identity theft by adding new funding to support those efforts, The […]

  • AI Startup Anthropic Reportedly Looking to Raise $300 Million

    Artificial intelligence (AI) startup Anthropic is reportedly looking to raise $300 million. The deal would value the firm at $4.1 billion, The Information reported Wednesday (March 8), citing unnamed sources. Anthropic has already raised $1.1 billion from investors that include Google and former FTX CEO Sam Bankman-Fried, according to the report. The firm is led […]

  • Burlington Stores Optimistic Even as High Earners Become More Cost Conscious

    It’s an off-price retailer’s market. While large department stores ranging from Nordstrom to Kohl’s are struggling to find their footing, off-price retailers such as Burlington Stores are finding an opportunity to shine. PYMNTS research shows that nearly 70% of retail consumers expect significant price increases in the next 12 months, and nearly half are willing […]

  • Silvergate Eyes Pearly Gates as Crypto Bank Shuts Down and Liquidates

    One crypto bank is no more — and one wonders what’s next for the crypto banking business model itself. To that end, Silvergate Capital said Wednesday night (March 8) that it would wind down operations and voluntarily liquidate Silvergate Bank. And in the release announcing the wind-down, the company said it is “considering how to best […]

  • Candidly Raises $20.5 Million for Student Debt and Savings Optimization

    Candidly has raised $20.5 million in a Series B round to help reduce student debt. The firm embeds its student debt and savings optimization platform within the digital experiences of partners like employers, retirement recordkeepers and financial services companies to help users pay down their student debt faster and more cost effectively, Candidly said in […]

  • Crypto Exchange Gemini Denies JPMorgan Chase Ended Banking Relationship

    Cryptocurrency exchange Gemini has denied reports that J.P. Morgan Chase has ended their banking relationship. “Despite reporting to the contrary, Gemini’s banking relationship remains intact with JPMorgan,” Gemini said Wednesday (March 8) in a post on Twitter. Despite reporting to the contrary, Gemini's banking relationship remains intact with JPMorgan. — Gemini (@Gemini) March 8, 2023 […]

  • Half of Subscription Firms Say They Face Challenges Attracting Customers

    As subscription businesses look to weather the year ahead, customer acquisition poses a major challenge. For the PYMNTS study “The State Of Subscription Business: Best Practices And Business Performance Drivers,” done in collaboration with FlexPay, we surveyed 200 executive decision-makers at companies that offer subscription-based services and products. The September study sought to understand the […]

  • Coinbase Simplifies Entry to Web3 With Wallet-as-a-Service

    Coinbase has launched a business service that makes it easier for companies to onboard their users to Web3. The new Wallet-as-a-Service (WaaS) enables companies to build fully customizable on-chain wallets for their customers that will store digital assets, facilitate transactions and act as the user’s digital identity, Coinbase said in a Wednesday (March 8) blog […]

  • When Customer Service Underdelivers, Merchants Risk Consumer Rage

    There’s a crisis in customer satisfaction, and brands that get it are likely to come out on top. The Wall Street Journal (WSJ)reported Tuesday (March 7) on results of the latest National Customer Rage Survey conducted periodically by Customer Care Measurement & Consulting and the W.P. Carey School of Business at Arizona State University. In […]

  • 25% of Bankers Say Banking-as-a-Service Tech Will Boost Revenue

    Businesses that neglect digital experiences risk losing business and falling behind their more innovative peers. This, as digital banking has quickly become a default means of financial interaction. PYMNTS research in the most recent “Embedded Finance Tracker,” a March collaboration with Galileo, found that 25% of bankers view Banking-as-a-Service (BaaS) technology solutions as a crucial […]

  • Mars Taps Store-Hailing for D2C Ice Cream Sales

    Mars is trialing hail-able mobile stores to offer on-demand D2C ice cream sales. The confectionery giant announced Tuesday (March 7) that it is partnering with Conjure, the company formerly known as Robomart that creates mobile shops that can be hailed via mobile devices in the style of Uber or Lyft rides, to offer mobile ice cream stores. “We are […]