February 26, 2021

This new facility includes $100 million from Silicon Valley Bank (SVB), and $26.6 million from Trinity Capital. It is Petal’s first asset-backed facility with SVB and Trinity Capital. The firm says it complements its existing $300 million facility with global […]

February 26, 2021

Levels of employment for the insurance industry are “holding up much stronger than the overall economy,” the leader of an insurance search firm said recently, reporting that insurers have added almost 20,000 jobs since March 2020. The actual number, 19,700 […]

February 25, 2021

Jobless claims fell sharply last week despite severe winter storms that swept across Texas and other parts of the South, the Labor Department reported Thursday. First-time filings for unemployment insurance totaled 730,000 for the week ended Feb. 20, well below […]

February 25, 2021

Robinhood’s user growth, brand recognition and valuation appear to be stronger than ever as the online brokerage recovers from the GameStop trading chaos. Demand for Robinhood shares in private markets is surging as the start-up likely benefited from headlines and […]

February 25, 2021

When JPMorgan Chase’s blockchain unit, Onyx, wanted to test payments capabilities between digital devices, it thought big. Like, universe big. “The idea was to explore [Internet-of-Things] payments in a fully decentralized way,” Onyx CEO Umar Farooq told Reuters. “Nowhere is […]

February 24, 2021

The San Francisco fintech is hoping to obtain an Industrial Loan Company (ILC) licence from the Federal Deposit Insurance Corporation (FDIC). This is the same licence US digital payments firm Square landed just shy of a year ago. Square had […]

February 24, 2021

Active management of intraday liquidity and intraday stress-testing should be a key part of a bank’s operations. Where once they might have been seen as a burdensome regulatory requirement, more and more banks are adopting them as best practice. There […]

February 23, 2021

BBVA and Google Cloud today announced a new strategic partnership to transform the bank’s security strategy by optimizing and improving its security infrastructure. As part of this global agreement, BBVA will collaborate with Google Cloud in the development of groundbreaking […]

February 23, 2021

The Greek bank is also offloading 80% of its loan services provider Cepal Holdings. It is expecting to reduce Alpha’s non-performing exposure, and non-performing loans, to 24% and 13% respectively. Known as Galaxy, the portfolio sale is the second-largest securitisation […]

February 23, 2021

Wells Fargo plans to sell its asset-management business to two private-equity firms — GTCR LLC and Reverence Capital Partners — for $2.1 billion, according to a statement Tuesday. The unit has $603 billion of assets under management and employs more […]