March 4, 2024
FinTech FuturesThe CIEF has been launched to provide funding to Community Development Finance Institutions (CDFIs). CDFIs are non-profit lenders including community development banks, credit unions, loan funds and venture capital funds which service underserved communities specifically with small business loans, real […]
March 4, 2024
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 […]
March 1, 2024
FinTech FuturesBack in 1957, 1TB of storage capacity would have cost $9.2 billion, while 1TB of memory would have cost $411 trillion. Today, the same storage and memory capacity costs just $14 and $2,100, respectively. Banking has evolved in lockstep. We […]
February 29, 2024
FinTech FuturesThe group – which is headquartered in Kansas City and includes CRB Securities and embedded finance solutions vendor Cross River Bank – says the new division will work to advise fintechs on “their most critical decisions, including mergers and acquisitions, […]
February 29, 2024
FinTech FuturesIn its recently published Q4 and full year financial results for 2023, Green Dot states that the matters addressed in the proposed consent order “relate to activities and practices that commenced prior to the company’s Chief Executive Officer transition in […]
February 28, 2024
FinTech FuturesThe deal with see the bank transfer the debt from its branded credit card programme in the US to Blackstone’s credit and insurance segments, which were consolidated last September. Barclays says the transaction is part of a move to release […]
February 27, 2024
FinTech FuturesTerraPay says the partnership will enable the bank to “facilitate direct account deposits from any part of the world”, allowing customers and expatriates residing outside of the country to send “real-time money transfers to their loved ones in Uganda“. Willie […]
February 26, 2024
Banking DiveCiti has appointed Viswas Raghavan as head of banking and executive vice chair, CEO Jane Fraser said in a memo Monday. Raghavan will oversee Citi’s investment, corporate and commercial banking businesses, which is one of the company’s core units. He […]
February 23, 2024
DailyFXGerman GDP fell by 0.3% in Q4 2023 compared to the third-quarter, and by 0.4% on the same quarter a year ago, data released by the Federal Statistics Office (Destatis) today confirmed. “The German economy ended 2023 in negative territory. […]
February 22, 2024
FinTech FuturesTemenos, which has recently been forced to refute allegations made by Hindenburg Research of client dissatisfaction and accounting irregularities, claims its Infinity system will provide the US private bank with increased operational efficiency and personalised customer experiences. Commerce says it […]
February 22, 2024
TechBullionAs the business world continues to evolve, so too does corporate banking. From digital transformations to innovative financial solutions, staying ahead of the game is essential for success in today’s competitive market. In this blog post, we’ll explore the top […]
February 21, 2024
Banking DiveOn Valentine’s Day, fintech Neon Money Club launched an app to help financially like-minded people find love. Potential suitors will find one unusual hurdle prior to swiping right, though: They must have at least a 675 credit score. The app, […]
February 20, 2024
FinTech FuturesThe regulator has extended the stay of its special representative at Deutsche Bank until 30 October 2024 to report on and assess the progress of the bank’s implementation of safeguards against money laundering and terrorist financing. The representative was first […]
February 20, 2024
FinTech FuturesThe US bank first acquired a 48.5% stake in Viva Wallet in December 2022 in an effort to tap the European payments market, with WeRealize, led by Viva Wallet founder Haris Karonis, retaining the remaining share. However, reports have suggested […]
February 19, 2024
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 […]
February 19, 2024
DailyFXMarkets have not been deterred by the fact that Japan has entered into a recession, still indicating a high probability that the Bank of Japan will vote to hike interest rates by 0.1% to exit its long-standing negative interest rate […]
Activity, Capital and Risk, Credit, Retail Banking
February 16, 2024
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 […]
February 15, 2024
YahooFortune magazine again recognized U.S. Bank as one of the 2024 World’s Most Admired Companies, naming it No. 1 in the Superregional Banks category for the 14th consecutive year. Within the Superregional Banks industry category, U.S. Bank topped the list […]
February 15, 2024
JD SupraThe CFPB’s announcement of a proposed rulemaking to remove medical bills from consumers’ credit reports, as well as the special focus placed on medical debt in its annual report, indicates that reporting medical debt will continue to be a priority. […]
February 14, 2024
JD SupraCryptocurrency, a digital form of currency that uses cryptography for security, has become a significant part of the global financial landscape. As such, it has also become an important consideration in estate planning. This Dechert OnPoint provides an overview of […]