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Tag: banking


Uncategorized

US core banking vendor Nymbus lands $53m top-up led by existing backer

February 15, 2021

Via: FinTech Futures

The investor’s principal, AJ Malhotra, will join Nymbus’ board of directors as part of the transaction. Driving new products The fintech wants to use the fresh capital, which marks its largest funding to-date, to turbocharge its Grow product. The service […]


Activity, Investment Banking, Trading

Bank Stock Roundup: USB, JPM, WFC & TFC in Focus on Restructuring Initiatives

January 8, 2021

Via: Yahoo

Over the past four trading sessions, performance of major bank stocks depicted a bullish picture. This optimism primarily seems to be driven by the hopes of more economic stimulus as the U.S. Congress confirmed Joe Biden’s victory in the Presidential […]


Retail Banking

US challenger Bella plans launch around conversational banking

October 30, 2020

Via: FinTech Futures

The entrant wants to offer coordinated checking and savings accounts. Like many up and coming new banks in the US, it offers no maintenance fees, and no minimum balance requirements. Its unique offering is a “karma account” through which users […]


Channels

How banks can be supported to achieve full open banking adoption

October 28, 2020

Via: FinTech Futures

Banks have been at the heart of this progress and are the gatekeepers to further advancements. However, commitment from all banks towards achieving full adoption hasn’t always been forthcoming, and in order to maximise the potential of open banking, the […]


Regulations

Citi to pay $400m OCC fine for risk management failures

October 12, 2020

Via: Banking Technology

The South Dakota-based bank was found to have “deficiencies” in enterprise-wide and compliance risk management, as well as its data governance and internal controls. As well as paying a hefty fine to the US Treasury, Citi will also have to […]


Capital and Risk, Operational

Global card spend grows 13% in 2019, mostly down to China’s UnionPay

October 9, 2020

Via: Banking Technology

The report cited three main drivers for the strong growth: financial inclusion initiatives in developing countries, rise of contactless in more mature markets, and the hygiene concerns around cash during COVID-19. UnionPay – the world’s largest card payment organisation based […]


Activity, Corporate Banking

Bank of America teams up with Black-owned Unity bank

October 9, 2020

Via: FinTech Futures

According to Black Business, BoA has acquired approximately 5% of the bank’s common equity. Its investment is aimed at offering benefits to the communities that Unity serves through services such as lending, housing, neighbourhood revitalisation, and more. “Unity remains committed […]


Capital and Risk, Credit

Ripple introduces Line of Credit

October 8, 2020

Via: Finextra

Today, Ripple launched Line of Credit, a new beta service on RippleNet that allows customers using On-Demand Liquidity (ODL) to source capital on demand to initiate cross-border payments at scale using the digital asset XRP. Limited access to working capital […]


Capital and Risk, Credit

Bank of America wades into payday loans business

October 8, 2020

Via: Finextra

Bank of America today introduced Balance Assist, a revolutionary new solution that provides a low-cost way for clients to manage their short-term liquidity needs, borrowing only the amount they need, up to $500. Balance Assist is the latest offering in […]


Uncategorized

BofA launches omni-channel approach to cross-currency transactions

October 7, 2020

Via: Finextra

Bank of America is responding to the dual imperatives of cross-currency transactions – technology innovation and client demand for improved efficiency – with an omni-channel offering that now includes API (application programming interface) and mobile connectivity. “We are pleased to […]