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 14, 2024
Via: Banking DiveThe Office of the Comptroller of the Currency fined JPMorgan Chase $250 million Thursday, and the Federal Reserve added a $98.2 million penalty, asserting the bank failed to adequately monitor client trading activities for market misconduct between 2014 and 2023. […]
March 14, 2024
Via: Payments DiveFor the report, Consumer Reports evaluated the mobile banking apps of five large traditional banks: Bank of America, Capital One, JPMorgan Chase, U.S. Bank and Wells Fargo, as well as those of five digital banks: Albert, Ally, Chime, Current and […]
March 14, 2024
Via: DailyFXThe U.S. dollar experienced a slight dip on Wednesday, although its descent was cushioned by an uptick in U.S. Treasury yields. In any case, FX volatility remained subdued as traders appeared to refrain from taking large directional positions ahead of […]
March 12, 2024
Via: YahooThe latest trading session saw U.S. Bancorp (USB) ending at $43.21, denoting a -0.71% adjustment from its last day’s close. The stock’s change was less than the S&P 500’s daily gain of 1.12%. At the same time, the Dow added […]
March 11, 2024
Via: FinTech FuturesIn a statement on the company’s website, Oxygen says it officially commenced the “account closure process” on 8 March, with both consumers and business users being informed that their accounts will be closed on 29 March. The firm adds that […]
Capital and Risk, Credit, Regulations
March 8, 2024
Via: FinTech FuturesThe ruling has lowered the charge from its previous figure of $32, in a move that the regulator hopes will save account holders more than $14 billion a year while axing what it describes as business models founded on “penalties, […]
March 5, 2024
Via: Insurance JournalLloyd’s of London has hit a short-term target of filling 35% of leadership roles with women, although less than half of firms in the commercial insurance market had hit the mark, it said on Tuesday. Lloyd’s said it needed to […]
March 5, 2024
Via: Banking DiveBanco San Juan Internacional filed an amended lawsuit Thursday, seeking damages exceeding $150 million from the Federal Reserve Bank of New York and the Fed’s board of governors. The complaint, filed in the U.S. District Court for the Southern District […]
March 4, 2024
Via: 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
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 […]
March 1, 2024
Via: 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
Via: 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
Via: 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 27, 2024
Via: 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
Via: 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 22, 2024
Via: 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
Via: 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
Via: 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
Via: 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 […]