Five Star Bank Exits BaaS, Fifth Third Expands Finance Academy, Affirm Joins Apple Pay, AI's Business Impact, Adobe's New AI Tools

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Financial Institutions Inc., the parent company of Five Star Bank, announced it will exit the banking-as-a-service (BaaS) business due to regulatory changes and modest contribution to overall performance. The shift allows focus on core retail, commercial banking, and wealth management lines, with a wind-down projected by next year.

Fifth Third Bank is expanding its digital financial education programs to include junior high students, building on the success of their high school programs and Young Bankers Club for elementary students. These initiatives aim to improve financial literacy across 11 states.

Affirm has integrated its "buy now, pay later" services with Apple Pay, allowing U.S. users to make purchases via iPhone and iPad over time with no hidden fees. This new feature supports biweekly or monthly installments, adding flexibility and security for Apple Pay users.

A Kenyan study reveals mixed outcomes when using AI for business advice. Successful businesses saw performance boosts, while struggling ones experienced revenue decline. Experts recommend a balanced approach combining AI insights with human expertise for optimal results.

Adobe has unveiled new tools to measure the business impact of AI-generated content, integrating these innovations into the Adobe Experience Cloud. These tools help brands fine-tune their campaigns with real-time experimentation and actionable insights, emphasizing continuous optimization.