Boosting SMB Loan Approval Rates with Artificial Intelligence
Financial institutions are investing in small business lending technology as AI presents an opportunity to boost approval rates. In the fourth quarter of 2024, fewer than half of small business loan applications in the United States were approved, according to Statista. “Despite the fact that a lot of things have improved with technology, small business […]
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Huntington Bank Resolves Technical Outage Affecting Customers
Huntington Bank has been experiencing transaction processing delays. A spokesperson at the $210 billion bank told Bank Automation News: “Due to a processing issue, some Huntington Bank customers may have experienced issues accessing account information and delays in the processing of certain transactions. The issue has been resolved.” Bank customers reported outages via real-time outage […]
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How SMBs in Tech-Forward Cities Are Leveraging AI for Growth
Small businesses in tech-forward cities are rapidly adopting AI to streamline operations and regain their most valuable resource — time. Forty percent of SMBs in Boston and San Diego have adopted AI tools, according to a Chase report published May 5 in conjunction with National Small Business Week, which runs from May 4 through May […]
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Fiserv, Global Payments, and FIS Drive Growth Through M&A Strategy
Global Payments, FIS and Fiserv saw gains in the first quarter, driven by strategic acquisitions and expanded payments solutions. Tech provider Q1 earnings Global Payments expands with Worldpay Payments solutions provider Global Payments today posted $2.2 billion in adjusted net revenues, up 1% from Q1 2024. Global Payments reported: $1.7 billion in Merchant Solutions revenues, […]
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Fiserv Resolves Major Data Center Outage Affecting Financial Services
Fiserv’s network issues are resolved following Friday’s outage, which stemmed from a planned network enhancement at one of its data centers. The data center glitch affected peer-to-peer payment provider Zelle’s transactions during the outage. “On Friday morning, we experienced an internal issue that temporarily disrupted service,” Fiserv told Bank Automation News. “The issue was fully […]
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Auto Aftermarket Sees Rising Demand for Buy Now, Pay Later Services
As President Donald Trump’s tariffs start to take effect, the auto industry is slashing its outlook for the year and experts anticipate existing car owners will look to buy now, pay later options to finance aftermarket vehicle products like accessories and services costs amid an uncertain economic environment. “As tariff tensions continue to disrupt the […]
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