Tuesday, May 30, 2023
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American Express Plans to Use AI in Validating Transactions, Approving Cards and Credit Lines

Currently, the Digital Labs arm of the company is working on utilizing LLMs for analyzing customers’ feedback and inquiries. American Express (NYSE: AXP) has joined the new wave of companies adopting AI to scale their businesses. The financial services corporation is planning to deploy AI in validating transactions and approving lines

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Bolivia Sells Gold for Dollars, Argentina Bans Fintech Crypto, Fitch Upgrades El Salvador’s Credit Rating – Bitcoin News

Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia passes a law to sell gold for dollars, the Central Bank of Argentina bans fintech companies from using crypto, and Fitch improves El Salvador’s

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US Banking Crisis Looms as ‘Credit Tightening’ Mentions Reach Record Highs on Company Calls – Economics Bitcoin News

Recent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning “credit tightening” more frequently in earnings calls than during the 2008 financial crisis. Additionally, Google Trends data indicates a surge in search queries related to bank failures and crises. The findings suggest

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Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals – Economics Bitcoin News

Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating

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Fed Interest Rate Hikes Impact Everything from Credit Cards to Student, Auto, and Home Loans

While inflation may be slowing, Americans are groaning under the direct and indirect impact of the Fed increasing the interest rate. The US Federal Reserve (Fed) has continued raising the interest rate and on Wednesday increased the rate by another 0.25 percentage point, causing worry about the potential impact. The apex

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