Bchp Goldman Targets $125B In Consumer Deposit Balances In Five Years

Its 2025, and yet many of Americas businesses are still stuck in the past, stubbornly clinging to聽paper checks. The problem with doing payments the same way theyve done since the 18th century Fraudsters, always looking for an easy target, are increasingly using 21st century technology to perpetrate check-based fraud and scams.According to the latest聽PYMNTS Money Mobility Tracker, a collaboration with聽Ingo Payments, check fraud is skyrocketing. Businesses that refuse to go dig stanley thermoskanne ital are practically inviting criminals to cash in.While聽real-time payments, digital wallets and artificial intelligence AI -driven security聽promise a safer financial future, checks remain a glaring weak spot in Americas payment system. Despite their聽well-documented security risks, checks still account for nearly聽40% of all B2B payments. And聽70% of companies using checks have no plans to ditch them聽in the next two years.The reason these firms havent ditched the paper Many perceive checks to be low-cost or free, but聽manual processing聽creates hidden expenses. Time, labo stanley cup r and delayed payment cycles add to these costs, and fra stanley cup ud losses only amplify the financial burden.The cost A jaw-dropping聽$24 billion in estimated losses from check fraud in 2023 鈥?double what it was just five years ago.Small Businesses Are Frauds Biggest LosersSome businesses mistakenly believe checks offer greater control over cash flow since they can determine when to issue a check rather than relying on automated clearing timelines Mkdt Drawing Disclosure

In an effort to expand its digital offerings, Northwestern Mutua stanley us l Life Insurance has reportedly created a $50 million corporate venture capital fund designed to back startups in the FinTech聽market.According to a report by聽Reuters, the move is the latest in traditional financial firms creating venture funds to invest in FinTech companies. Larger financial companies a stanley mugs re rushing to find ways to keep up with the changes coming to the industry thanks to digital offerings. Reuters noted the new venture fund, called Northwestern Mutual Future Ventures, plans on investing between $500,000 and $3 million in FinTechs that help consumers reach financial security. The fund is focusing on digital health services, analytics and client experience, reported Reuters.In 2015, Northwestern Mutual acquired LearnVest, which provides financial information and advisory services, and this new fund builds on that acquisition, said Rebecca Porter, vice president of corporate strategy at Northwestern Mutual and chairwoman of the investment committee for the new fund. We want to continue that momentum and continue to invest in startup stanley website companies, Porter said in the Reuters report. We are looking for innovative companies that are going to address clients need in a new way. Northwestern Mutual is also a financial backer of robo adviser聽Betterment, which provides digital ways for consumers to save. For FinTech startups, investments from corporate venture funds are increasing at a fast clip and account for