Know-your-customer (KYC) checks are expensive partly because a bank isn’t simply verifying an identity. Compliance teams have to collect information from documents, reconcile it across systems, investigate potential risk factors and build an auditable record explaining how they reached a decision. Incore Bank, a Swiss B2B transaction bank, is testing how much of that work […]The post Incore Bank’s AI Hits 99% Accuracy on KYC Checks appeared first on PYMNTS.com.

Artificial intelligence (AI) security startup AIR publicly debuted Tuesday (Sept. 1) with $50 million in seed financing to help businesses monitor and secure the software supply chain developing around autonomous AI agents, according to a report by TechCrunch. The company was founded by CEO Yair Saban and Chief Technology Officer Niv Hoffman, both veterans of […]The post AI Agent Security Startup AIR Raises $50 Million to Guard Enterprise Supply Chains appeared first on PYMNTS.com.

The three words “supply chain compliance” have typically been more likely to inspire yawns than cross-border growth strategies when brought up by enterprise chief financial officers. With a new round of tariffs creating greater uncertainty across supply chains that have traditionally been viewed as secure and responsible, however, firms are realizing that the procurement function […]The post When Supply Chain Risk Hits, CFOs With Receipts Move First appeared first on PYMNTS.com.

Anthropic is changing a data retention policy for business customers following concerns from enterprise users about how their information would be stored and reviewed. The company announced Tuesday (Sept. 1) it is introducing Enterprise Frontier Safeguards, a system that will give businesses greater control over how their data is reviewed, stored and managed. Anthropic said […]The post Anthropic Revises Enterprise Data Retention Policy After Customer Pushback appeared first on PYMNTS.com.

OpenAI is connecting ChatGPT directly to Epic electronic health records, pushing the artificial intelligence bot deeper into the clinical workflow and giving healthcare workers a way to query patient information without manually assembling the medical history themselves. Healthcare organizations can now connect their Epic environments to ChatGPT for Healthcare, OpenAI said on a Tuesday (Sept. […]The post OpenAI Brings Epic Health Records to ChatGPT for Clinicians appeared first on PYMNTS.com.

A financial market that trades around the clock can’t wait until the next banking day to settle. A business selling digital services overseas has a different problem: the product can cross the border more easily than the payment. Both issues surfaced last week at the Jackson Hole Economic Policy Symposium. Separately, the G20 Innovation Ministerial […]The post Jackson Hole and G20 Map a Future of 24/7 Payments and AI appeared first on PYMNTS.com.

Fifth Third has launched of a new credit aimed at consumers seeking to reduce interest costs and consolidate higher-rate debt. According to a Tuesday (Sept. 1) press release, the Truly Simple Credit Card offers an introductory 0% annual percentage rate on purchases and balance transfers for 18 months. After the introductory period, the card carries […]The post Fifth Third Introduces Debt Consolidation Card appeared first on PYMNTS.com.

IKEA is reducing prices on 1,500-plus products in Europe amid ongoing cost-of-living pressures. The Swedish furniture retailer announced Tuesday (Sept. 1) that it was investing nearly $1.4 billion to mark down prices by 15% to 25%. “The investment is not an activity or short-term campaign—it’s about making IKEA more affordable when people need it most, […]The post IKEA Cuts Prices in Europe as Cost-of-Living Pressures Persist appeared first on PYMNTS.com.

Ads inside ChatGPT are now bringing in money at a pace equal to $1 billion a year, OpenAI said in a Monday announcement, a milestone the company reached less than 200 days after launching the ad product. OpenAI is guiding toward $2.5 billion in booked ad revenue for the full year, a pace it took […]The post ChatGPT Ads Hit $1 Billion Faster Than Google Ever Did appeared first on PYMNTS.com.

Block says it is opening its Cash App score to external lenders for the first time. Using Nova Credit as a distribution partner, Block will make Cash App’s proprietary, cash flow-based credit score available to lenders via Nova Credit’s Cash Flow Intelligence Platform, the company announced Tuesday (Sept. 1). “We built Cash App Score to […]The post Block Lets Lenders Access Cash App Credit Insights appeared first on PYMNTS.com.