A roundup of the week’s most newsworthy financial industry press releases from PR Newswire, including Gen Z’s financial worries and BofA’s new supply chain solutions.

NEW YORK, Sept. 22, 2023 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the finance industry stay on top of the week’s most newsworthy and popular releases, here’s a roundup of stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

1. Financial Worry Is a Top Driver of Anxiety Among Gen Z, New EY Study Finds
   “The oldest Gen Z are aging out of their parents’ health care plans this year, and they are feeling the impact of financial independence amid economic uncertainty. These factors are shaping their views of work and life and what success looks like,” said Marcie Merriman, EY Americas Cultural Insights & Customer Strategy Leader.
2. World Vision and VisionFund launch Strong Women Impact Fund to promote economic empowerment for women in poverty
   The Strong Women Impact Fund supports innovative financial products designed to serve clients at the bottom of the economic ladder as they work to build financial resilience, improve household well-being, and break the intergenerational cycle of poverty.
3. Algorand Announces Membership in OpenWallet Foundation
   Algorand joins Google, Visa, Accenture, and others in global project to drive innovation and standards for digital wallets and payments.
4. BofA Continues to Modernize Trade Finance with the Launch of CashPro® Supply Chain Solutions
   “With global commerce operating 24/7, companies need the ability to view and act on information in as close to real-time as possible. Open Account Automation offers that transparency and the ability to self-serve,” said Jay Davenport, global co-head of Corporate Sales in GTS at Bank of America.
5. Mild Recession Remains Likeliest Outcome as Inflation and Labor Markets Cool
   “Our current prediction for a mild downturn in the first half of 2024 is predicated on the belief that consumers will begin pausing their spending, in part due to the exhaustion of those funds and having to realign to a more sustainable relationship between spending and incomes,” said Doug Duncan, Senior Vice President and Chief Economist, Fannie Mae.
6. Flex Raises $120 Million in Equity and Debt, Launching Finance Super App for Business Owners
   “Most B2B FinTech companies serve Silicon Valley tech startups or large enterprise companies, neglecting small businesses that are struggling to find the credit and tools they need to effectively manage their finances. Flex’s new offerings focus on supporting small businesses by giving them the credit they deserve and providing the essential finance back office tools they need to achieve success,” said Zaid Rahman, founder and CEO of Flex.
7. New Data Shows Significant Gaps in Access to Upskilling for Women, People of Color
   The report provides an in-depth look at American workers and companies and their interest and participation in skills development opportunities, which are critical in driving worker retention, career advancement, business growth and economic competitiveness in a complex global environment.
8. Nuveen Secures Investment from TIAA for U.S. Impact Housing Fund Dedicated to Affordable Housing
   The core-plus, open-end fund is focused on generating strong risk adjusted returns and creating housing opportunities for low-income residents across the U.S., primarily by investing in a geographically diverse portfolio of properties.
9. New Horizon Media Research Reveals 2023 Back-to-School Season As Financially – and Emotionally – Costly for Parents
   While they will not be forgoing shopping, parents are doing so with inflation in mind – with 80% of them expecting to be impacted by inflation as they shop for supplies.
10. Brex Gives Every Employee an Expense Assistant With AI
    “Brex is known for offering an amazing employee expense experience, and by giving everyone an assistant of this caliber, we’ve shipped our most groundbreaking experience yet,” said Henrique Dubugras, Brex’s co-founder and co-CEO. “Finance teams and managers can look forward to record-breaking employee compliance levels and increased productivity.”
11. Parks Associates: 75% of Small-to-Medium Businesses (SMBs) are Concerned about Inflation
    The new study highlights the role that IoT devices and services can play in controlling costs, including how small business can do “more with less” in response to labor shortages.

Read more of the latest finance-related releases from PR Newswire and stay caught up on the top press releases by following @PRNfinance on Twitter.

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