Fifth Third Bank has introduced a new offering aimed at startups and growth companies. Fifth Third Innovation Banking, announced in a news release Thursday (Oct. 1), combines the bank’s Newline embedded banking platform with the tech and life sciences franchise from Comerica, which merged with Fifth Third earlier this...
When regulators closed Nano Banc on Friday (Sept. 25), among the details in the Federal Deposit Insurance Corp.’s announcement that stood out: Nano had a sole branch. The Irvine, California, commercial bank had reported $686 million in deposits and $736 million in assets as of...
Bank of America has introduced two new intelligence capabilities for customers using its CashPro tool and its Global Payments Solutions (GPS) employees. The banking giant on Monday (Sept. 28) announced the debut of Payments Insights a new CashPro capability designed to give corporate and commercial customers “actionable...
Brazilian digital bank Nubank is reportedly interested in buying U.K. FinTech Monzo. Such a deal would value Mozno at up to £10 billion ($13.2 billion), the Financial Times (FT) reported Saturday (Sept. 26), citing two sources familiar with the matter. Sources told the FT there...
Revolut is moving ahead with the completion of its acquisition of Argentine bank Banco Cetelem Argentina S.A. after receiving approval from the Central Bank of Argentina, the company said in a Thursday (Sept. 24) press release. Revolut is acquiring the bank from BNP Paribas Personal...
Bank of America plans to hire 1,000 additional apprentices over the next two years, together with the more than 800 it already hires each year, the bank said in a Thursday (Sept. 24) press release. The bank will also invest $150 million in workforce development...
Revolut and Nubank, the world’s two most-valued digital banks, want to conquer the United States, the Financial Times reported Wednesday (Sept. 23). Both companies obtained conditional approval for U.S. banking charters this year, and Brazil-based Nubank officially debuted its offering this month. However, the two...
In a bank’s back office, an employee pulls up a customer’s account on a decades-old terminal, reads the balance and types it into a newer web form to finish the file. The two systems don’t talk to each other. The person in the chair is...
Some of the world’s largest banks have reportedly handled billions of dollars for a Kremlin-backed FinTech that used forgery to enter the international financial system. An investigation by the Financial Times (FT) published Monday (Sept. 21) found that A7, a company established as an alternative...