The Federal Deposit Insurance Corp. (FDIC) is reportedly in talks with potential buyers for Republic First Bancorp., a Philadelphia regional bank that does business as Republic Bank. The regulator is approaching potential buyers and seeking bids for the bank, which has traded at a market value of less...
The digital transformation of banking continues to reshape how financial institutions (FIs) are meeting the evolving expectations of consumers. And central to this evolution are partnerships, which play a pivotal role in enhancing customer experiences and streamlining financial processes. A recent collaboration between Bankjoy, a provider of digital...
Startup-focused banking FinTech Mercury is getting into the consumer banking business. The company has launched Mercury Personal, designed to help builders in the tech sector optimize their money, according to a Wednesday (April 17) news release. “Many founders and investors are not happy with their bank accounts today...
The former chair of the FDIC is looking for signs of weakness in regional bank earnings. “I’m worried about a handful of them,” Sheila Bair, who headed the Federal Deposit Insurance Corp. during the financial crisis of 2008, said in an interview with CNBC Tuesday (April 16). “I think some...
U.S. Bancorp is forecasting a decline in net interest income for this year. In announcing its earnings Wednesday (April 17), the lender said it anticipates net interest income (NII) of $16.1 billion to $16.4 billion, down from earlier projection of at least $16.6 billion for the...
The largest U.S. banks are reporting a slowdown in lending. Bank of America and PNC were the latest to do so, with the former reporting Tuesday (April 16) that lending was “sluggish” and the latter saying its lending dropped 1%, the Financial Times (FT) reported Tuesday. With their earnings reports...
Saxo Bank is reportedly pursuing a possible sale following an ill-fated attempt to go public. The Danish bank, which offers digital investment and trading services, recently invited investment bankers to audition for advisory roles in a possible sale, sources told Reuters in a report published Tuesday (April...
There are 69 million consumers in the U.S. who are between the ages of 12 and 27. They are described as the first digitally-native generation — a generation that has lived with mobile phones and apps for most of their lives. The iPhone was introduced...
Arizona Financial Credit Union (AZFCU) has launched a partnership with retail banking firm NCR Atleos. According to a Tuesday (April 9) news release, AZFCU has picked Atleos’ ATM as a Service (ATMaaS) offering to boost operational efficiencies within its self-service banking channel. “As many of the credit union’s...
