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What We Learned From Banks’ Opening Earnings Salvo
Friday 15th January - 6:30 pm
In the first wave of Q4 earnings reports, J.P. Morgan Chase, Citigroup and Wells Fargo showed the pandemic’s impact on critical lending and spending, and of course debt repayment, may not ...Citi Q4 Earnings Show Digital Banking Growth, Drop In Card Spending
Friday 15th January - 6:05 pm
Citigroup reported stronger than expected Q4 earnings Friday (Jan. 15) that showed a solid digital business, but fell short on expected revenue. Earnings fell by 7 percent to $4.63 billion, ...Wells Fargo’s Provision For Credit Losses Drops $823 Million
Friday 15th January - 2:35 pm
Wells Fargo reported on Friday (Jan. 15) as part of its Q4 2020 earnings that its provision for credit losses fell $823 million. The bank attributed the drop mostly to ...ECB Officials Fear Banks Will Get Hit Hard By Pandemic Fallout
Friday 15th January - 1:33 pm
European Central Bank (ECB) officials are concerned that Euro-area banks will get hit hard in 2021 by fallout from the COVID-19 pandemic as weakened businesses slide into bankruptcy.
“The main issue ...JPMorgan’s Mobile Customers Surge 10 Pct; Management Cautious On Economic Environment
Friday 15th January - 12:04 pm
J.P. Morgan Chase posted fourth-quarter earnings results on Friday (Jan. 15) that showed the impact from the pandemic and economic headwinds were not as bad as might have been feared ...OCC Finalizes Long-Held Rule On Banking Equality
Thursday 14th January - 11:00 pm
The Office of the Comptroller of the Currency (OCC) released a finalized rule on ensuring fair access to banking services from large national banks, federal savings associations, and federal branches ...Today In Digital-First Banking: Goldman Sachs Taps Marqeta To Fuel Marcus Checking; X1 Card Notches $12 Million In Funding
Thursday 14th January - 10:25 pm
In today’s top digital-first banking news, Goldman Sachs has selected FinTech startup Marqeta to power digital checking accounts for Marcus, while California credit card startup X1 notched $12 million in ...HSBC Unveils Cash Flow Management Tool As Pandemic Scrambles Balance Sheets
Thursday 14th January - 9:34 pm
As small businesses and other companies struggle with cash flow management amid the coronavirus pandemic, HSBC wants to help.
The Vancouver-based bank on Thursday (Jan. 14) rolled out a “Cash Flow ...Commerzbank Says It Was 'Deceived' By Wirecard Fraud
Thursday 14th January - 5:50 pm
Commerzbank has told lawyers that the bank was a victim of fraud in the ongoing Wirecard case, Reuters reported Thursday (Jan. 14).
The lender was “deceived” by the executives and auditors ...Saudi Arabia’s Open Banking Plan Aims To Advance Digital Innovation
Thursday 14th January - 2:39 pm
The Saudi Arabian Monetary Authority (SAMA) is introducing an open banking policy to advance digital innovation in the financial services sector.
Saudi Arabia’s central bank said the plan is for open ...Upgrade’s New Debit Rewards Product Takes New Approach To Mobile Banking
Thursday 14th January - 6:01 am
There is no shortage of digital-only banks offering a smoother onboarding process, a slick mobile interface and fee waivers in an effort to tempt consumers to leave their traditional bank.
Which, ...NEW DATA: Relevance Test: Majority Of Consumers Find Bank Web Content Lacking
Thursday 14th January - 4:00 am
Since the onset of the pandemic, banking activities like opening new accounts and applying for loans are now being done virtually to socially distance and help curb the spread of ...Rho Technologies Raises $15 Million For AP Integration
Wednesday 13th January - 7:51 pm
Rho Technologies, the FinTech behind Rho Business Banking, has raised $15 million in a Series A round, according to a press release.
The round was led by M13 Ventures with participation ...Today In Digital-First Banking: Sea Purchases Indonesian Bank BKE; PSCU Extends Partnership With Fiserv
Wednesday 13th January - 6:59 pm
In today’s top digital-first banking news, Singapore tech startup Sea has reportedly bought Indonesia’s PT Bank Kesejahteraan Ekonomi (Bank BKE), while credit union service organization (CUSO) PSCU has lengthened its ...Citi Taps Khaliq To Lead Treasury And Trade Solutions
Wednesday 13th January - 3:04 pm
Citi has named Shahmir Khaliq as its new head of Treasury and Trade Solutions (TTS), according to an internal memo from Paco Ybarra, global head of Citi’s Institutional Clients Group ...Singapore Tech Startup Sea Buys Indonesian Bank BKE
Wednesday 13th January - 11:57 am
Singapore tech startup Sea has acquired Indonesia’s PT Bank Kesejahteraan Ekonomi (Bank BKE) for an undisclosed amount, Bloomberg reported on Wednesday (Jan. 13), citing unnamed sources.
Sea, Southeast Asia’s biggest tech ...Citi, JPM And Wells Fargo Lead Big Earnings Week For Banks
Wednesday 13th January - 11:45 am
The start of earnings season typically is marked by banks’ reports – and a slew of them report this week, clustered on Friday (Jan. 15).
That day, we’ll hear from marquee ...FinTechs, FIs Uniting Over Distributed Banking For Disbursements
Wednesday 13th January - 9:30 am
Ingo Money CEO Drew Edwards recently told PYMNTS that “Historically, banks have viewed FinTechs through an ‘us versus them’ lens — and rightly so, because, in so many cases, the ...Wells River Savings Bank To Access TCH’s RTP Network
Tuesday 12th January - 6:03 pm
Wells River Savings Bank will gain access to the RTP® network built by The Clearing House (TCH) via SHAZAM, Inc., according to a Tuesday (Jan. 12) announcement from the Vermont-based ...Today In B2B: Small PPP Loans Cause Controversy; Bank Profits Sink
Tuesday 12th January - 2:30 pm
Today in B2B payments, some small businesses received less than $99 in Paycheck Protection Program (PPP) loans, and U.S. bank profits are expected to sink. Plus, Pilot Company collaborates on ...The Instant Payments Divide: How Lenders Can Use Disbursements To Create Lasting Trust
Tuesday 12th January - 10:00 am
The lending industry was hit hard during the pandemic’s early months, with many banks and traditional lenders rapidly adjusting their standards and rates to accommodate businesses’ and consumers’ shifting needs. ...Open Banking Matures As FIs Eye Commercialization
Tuesday 12th January - 8:00 am
More jurisdictions around the world are making headway in their open banking plans, and as this week’s roundup reveals, markets’ initiatives are maturing. While Saudi Arabia is gearing up to ...Cargomatic Taps Geocoding To Avert Last-Mile Delivery Mistakes
Tuesday 12th January - 4:02 am
Merchants that wish to avoid lost sales and unhappy customers must have the most up-to-date information for the final steps of delivery. Inaccurate addresses, in particular, can be a huge ...US Banks' Q4 Profits May Drop Up To 40 Pct
Monday 11th January - 7:14 pm
When the largest banks in the U.S. start reporting fourth-quarter results, it is expected that profits will be down by as much as 40 percent from last year, Reuters reported ...How One Community Bank’s RTP Journey Offers A Path For Others
Monday 11th January - 3:46 pm
Legacy banks and financial institutions (FIs) keep scrambling to add new consumer-centric bank tech and digital experiences that layer sizzling consumerization onto sluggish B2B payments.
PYMNTS’ latest Real-Time Payments Report done ...Today In Digital-First Banking: Revolut Seeks UK Financial Services License; Capital One Joins Fiserv’s MoneyPass ATM Network
Monday 11th January - 3:25 pm
In today’s top digital-first banking news, British challenger bank Revolut is seeking a U.K. financial services license, while Capital One has agreed to join Fiserv’s surcharge-free MoneyPass ATM network. Plus, ...Capital One Joins Fiserv’s MoneyPass ATM Network
Monday 11th January - 12:43 pm
Capital One has signed on to join Fiserv’s surcharge-free MoneyPass ATM network.
Under the deal, MoneyPass will be made available at over 1,500 Capital One ATMs at Capital One branches, Capital ...NCR’s $1.7 Billion Cardtronics Bid Signals Appeal Of ATM, Debit Network
Monday 11th January - 10:37 am
Cash. Digital. Even cryptos – and post-pandemic, a quickening embrace of the ATM.
To that end, and as reported, NCR is looking to buy Cardtronics, in a deal that takes place ...How The Pandemic Is Shifting Home Loan Disbursement Expectations
Monday 11th January - 9:30 am
The pandemic’s impacts on the financial and lending spaces are stretching into the new year, with both borrowers and lenders having adjusted how they approach loans in a world where ...J.P. Morgan Looks Toward Payments Modernization
Monday 11th January - 4:00 am
The impact of the global pandemic on corporates’ digitization journeys has been undeniable. Whether businesses were establishing their modernization roadmaps for the first time or simply accelerating the plans they ...Today In Digital-First Banking: BBVA To Close Simple Bank; Stimulus Debit Cards Mailed To 8 Million Households
Friday 8th January - 4:22 pm
In today’s top digital-first banking news, clients of BBVA subsidiary Simple Bank are reportedly getting emails telling them that Simple is closing and the intent is to move them to ...PrimeLending Taps AI To Digitize Loans, Speed Up Disbursements
Friday 8th January - 4:00 am
The pandemic is continuing to have a broad impact on the financial sphere at the start of the new year, with businesses as well as consumers adjusting their banking habits ...Fides Expands Connectivity For Finance Professionals
Thursday 7th January - 6:50 pm
Fides Treasury Services, which works in multibank connectivity and communications, has rolled out new details about its plans to extend its shop for corporate treasury and finance solutions, according to ...BBVA To Close Simple, Move Customers Over To BBVA USA
Thursday 7th January - 5:54 pm
Customers of Simple Bank are receiving emails telling them the bank is closing and that the intent is to transfer them to BBVA, a report from Talk Android says.
After Simple ...Today In Digital-First Banking: Green Dot Debuts GO2bank; Stimulus Checks Pose Challenges For TurboTax, H&R Block
Thursday 7th January - 11:39 am
In today’s top news in digital-first banking, California FinTech Green Dot is rolling out the GO2bank mobile banking to help cash-strapped individuals, while stimulus checks are reportedly posing challenges for ...M&A Emerges As Key Strategy To Drive SMB Finserv Collaboration
Thursday 7th January - 8:00 am
In an environment in which connecting small- to medium-sized businesses (SMBs) to vital financial services and products is more imperative than ever, the world of SMB banking and FinTech is ...Today In Payments Around The World: i2c Tapped To Power Digital-Native Financial App; Orange Bank Purchases Anytime
Wednesday 6th January - 5:28 pm
In today’s top payments news around the world, i2c has been selected to power Pakistan’s inaugural digital-native financial super app, while Orange Bank has purchased neobank Anytime. Plus, Neat recently ...Green Dot Introduces GO2bank To Help Cash-Strapped Consumers
Wednesday 6th January - 4:41 pm
California FinTech Green Dot is rolling out the mobile bank GO2bank to assist people who are living paycheck to paycheck.
“Too many Americans struggle to access their money, are paying too ...Orange Bank Buys Neobank Anytime To Serve SMBs, Professionals
Wednesday 6th January - 3:44 pm
Orange Bank has purchased the neobank Anytime, which focuses on small companies, independent professionals and associations, through a deal whose terms were not made known, according to a Wednesday (Jan. ...Today In Digital-First Banking: OCC OKs Stablecoins, INVNs For Banks; States Sue Banking Watchdog Over ‘True Lender’ Regulation
Wednesday 6th January - 12:10 pm
In today’s top news in digital-first banking, the Office of the Comptroller of Currency (OCC) has OK’d independent node verification networks (INVNs) and stablecoins for federal banks, while multiple states ...FinTech Jeff Aims To Boost Lending To The Underbanked In South Asia
Wednesday 6th January - 4:01 am
With no credit scores, limited financial transaction histories, and a huge amount of people who don’t even have a bank account, lending money in Vietnam is no simple task. While ...How Mexico’s Central Bank Plans To Move Payments To Digital
Wednesday 6th January - 4:00 am
In Mexico, the pandemic is moving the needle toward digital payments — specifically mobile payments — to become more widely embraced by businesses and consumers alike.
Slowly.
In an interview with PYMNTS’ ...Opportunity Fund Teams With CUs For SMB Lending Campaign
Tuesday 5th January - 7:15 pm
Longtime small business microlender Opportunity Fund is teaming up with a trio of credit unions (CUs) as part of the nonprofit’s bid to invest $1 billion in “marginalized businesses” across ...Today In Digital-First Banking: Oxygen Lands $17 Million Series A; SVB Financial To Buy Boston Private Financial Holdings
Tuesday 5th January - 4:59 pm
In today’s top news in digital-first banking, Oxygen has completed a $17 million Series A funding round, while SVB Financial Group plans to acquire Boston Private Financial Holdings. Plus, China’s ...US Currency Comptroller OKs INVNs, Stablecoins For Federal Banks
Tuesday 5th January - 1:30 pm
The U.S. Office of the Comptroller of Currency has stated that national banks and federal savings associations can participate in independent node verification networks (INVNs) and use stablecoins for payments.
In ...
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