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Banking-as-a-service has traditionally had sponsor banks for doing everything themselves: issuing accounts, holding deposits, processing payments and financing lending. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
Payments and treasury technologies have traditionally been positioned by the banks powering them as purely infrastructure. The same way baseball players need a field to play ball, the thinking went, financial services needed the indispensable machinery powering payments that helps clients move money, manage liquidity...
The Federal Reserve is seeking comment on a proposal that it said would modernize rules for mutual banking organizations and increase their flexibility to raise capital. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
Lineage Bank, which was a partner bank for Synapse, the banking-as-a-service (BaaS) provider that went bankrupt in 2024, has reached a consent order with the Federal Deposit Insurance Corporation (FDIC). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
Chime Financial plans to lay off about 150 people, or 10% of its workforce, Bloomberg reported Friday (July 31), citing a memo to employees from Chime CEO and Co-Founder Chris Britt. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
The Office of the Comptroller of the Currency (OCC) has issued a revised compliance guide for the community bank leverage ratio (CBLR) framework. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
Fifth Third Bank sent personalized welcome packages to Comerica customers this week and plans to complete the transition of current Comerica accounts to comparable Fifth Third products on Sept. 8, the bank said in a Thursday (July 30) press release. Get the Full Story Complete...
Artificial intelligence (AI) will play a key role in Lloyds Banking Group’s new strategic plan that runs through 2030. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
