March 18, 2024
Via: FinTech FuturesThis analysis begins with a look at some of those that did it first. Although a well-established retailer and grocer, it would take 78 years for British supermarket Tesco to tap the financial services market, a push led by the […]
March 4, 2024
Via: FinTech FuturesDescribed as a “transformative step” for the firm by company CEO Romi Savova, PensionBee hopes its US operations will match or exceed the scale of its UK business within the next decade, adding that the US defined contribution pension market […]
February 19, 2024
Via: JD SupraOn February 14, the Federal Reserve Bank of New York (NY Fed) published a blog post evaluating different households’ use of buy now pay later (BNPL) products, which it generally described as “loans that are payable in four or fewer […]
Activity, Capital and Risk, Credit, Retail Banking
February 16, 2024
Via: FinTech FuturesThe partnership will see the bank adopt its partner’s embedded lending technology and credit intelligence network to induce a “second review” of a loan application should the applicant fail to meet its traditional lending requirements the first time around. A […]
January 2, 2024
Via: FinTech FuturesNews of the sale first broke in May 2021, with HSBC reportedly having paid more than €1 billion for New York-based private equity firm Cerberus Capital Management to take its loss-making French branches off its hands. As of 1 January […]
November 29, 2023
Via: FinTech FuturesThe US tech titan has proposed ending its credit card and savings account partnership with the bank within the next 12 to 15 months, according to sources at the Wall Street Journal and CNBC. The pair first came together back […]
November 17, 2023
Via: Payments DiveBank of America attributes the rise in small business credit card balances in part to increased spending in 2021 and the first half of 2022. The report focused on small businesses noted that credit card spending has remained at about […]
Activity, News, Retail Banking
November 9, 2023
Via: FinTech FuturesThe programme serves purchasers and owners of General Motors vehicles, enabling them to earn rewards on their spending through the GM credit card. Goldman Sachs beat out a small number of bidders, including Barclays, in October 2020 to purchase the […]
October 30, 2023
Via: FinTech FuturesNamed Paze, the new service will be offered by participating financial institutions in a bid to deliver an improved payment experience for consumers shopping online and fend off the growing advances of Big Tech giants in the financial services space. […]
October 27, 2023
Via: Payments DiveTogether, UPS and Happy Returns will help provide “easy digital experience and established drop-off points with UPS’s small package network and footprint of close to 5,200 The UPS Store locations,” UPS CEO Carol Tomé said in a press release. Using […]
October 23, 2023
Via: FinTech FuturesThe solution leverages Mastercard’s open banking technology to enable consumers to share their financial data to pay third parties directly from their bank account using traditional ACH banking rails. This process eliminates the need for customers to manually enter their […]
Activity, Capital and Risk, Credit, Retail Banking
October 3, 2023
Via: Payments DiveHoliday shoppers this year may have less room on their credit cards, and little enthusiasm for making that worse. In July, 61% of U.S. consumers lived paycheck to paycheck, 2 percentage points more than a year ago, according to research […]
September 13, 2023
Via: Bank DirectorFor banks competing with an increasing number of fintechs and nontraditional lenders for depositors, offering attractive deposit pricing is crucial. As deposit rates have risen rapidly, customers are increasingly cognizant of where they’re putting their money. “Higher interest rates, as […]
September 12, 2023
Via: Banking DiveCitizens Financial Group unveiled plans to launch a private bank later this year at the Barclays Global Financial Services Conference in New York City Monday. Citizens Private Bank will offer personal banking, mortgage and retail lending, wealth management and business […]
September 5, 2023
Via: FinTech FuturesUtilising Network International’s acceptance solutions and “decades of expertise” in card processing and value-added services, JP Morgan Payments aims to “expand and complement” its existing payment offerings in the region. Founded in 1994 and headquartered in Dubai, Network International offers […]
August 15, 2023
Via: Banking DiveCitizens Bank of Edmond CEO Jill Castilla’s latest venture combines two key elements of her professional life: financial services and the military. For the past several years, the bank executive and military veteran has been building a national digital bank […]
Activity, Regulations, Retail Banking
August 8, 2023
Via: Banking DiveA shareholder sued KeyBank on Friday, claiming the Cleveland-based lender misled investors about its liquidity when it revised its projection for net interest income this year. The bank adjusted its NII estimate to a range of 1% to 4% — […]
Activity, Regulations, Retail Banking
August 7, 2023
Via: FinTech FuturesFrom 2 September 2023, Revolut’s US customers will no longer be able to place buy orders for crypto with the bank, with access due to be fully disabled a month later. A spokesperson for the bank told FinTech Futures that […]
Activity, Channels, Retail Banking
July 31, 2023
Via: Banking DiveElon Musk last week unveiled a sweeping rebrand of Twitter, the social media site he acquired for $44 billion in October. The billionaire replaced the platform’s iconic bird logo with an ‘X,’ the site’s new name and reflection of his […]
July 25, 2023
Via: FinTech FuturesFollowing earlier speculation that it might pursue the German market, Dimon finally confirmed the move with regional newspaper Handelsblatt on Friday, sharing that the US banking giant has “ambitions plans” for its arrival. Chase’s European debut has so far only […]