Adding a FinTech partner has become much easier than managing dozens of them over time. To that end, banks and credit unions have been relying on outside providers for everything from payments and digital onboarding to fraud prevention and data analytics. Partnerships remain central to...
The sale of British digital lender Atom Bank is reportedly in danger of falling through. That’s according to a report Monday (June 28) from the Financial Times (FT), which says an auction for Atom Bank failed to attract bids at the 600 million pound ($756 million) range hoped...
Federal Reserve Vice Chair for Supervision Michelle W. Bowman has completed a reorganization of the agency’s bank oversight unit that she announced in October, Bloomberg reported Wednesday (June 24). The reorganization is meant to focus supervision on core financial risks, according to the report, which...
Green Dot has moved one step closer to separating its banking and FinTech operations. The company announced Tuesday (June 23) that its shareholders had approved the sale of Green Dot Bank to CommerceOne. That sale is part of a larger process that involves CommerceOne forming a new publicly traded...
Happen, formerly known as LendingClub, has announced the official launch of its digital bank. The new Happen Bank brand is available now on the company website, mobile app and via customer communications and advertising, the lender said in a news release Monday (June 22), the same day...
Private capital asset manager Pollen Street plans to acquire Finastra’s global core banking software business, Universal Banking (UB), and support UB as it becomes a standalone business. Pollen Street will provide investment to UB to help the company accelerate product innovation, strengthen customer delivery and expand capabilities, the companies said in a Friday (June...
The European Union is preparing to make it easier for banks to move funds between EU member states, the Financial Times reported Thursday (June 18), citing a leaked report from the European Commission that is set to be released in July. This is one of several measures the EU plans...
NatWest CEO Paul Thwaite said artificial intelligence (AI) is going to change the bank’s workforce, though he didn’t say whether it would reduce the size, Finextra reported Friday (June 19). Speaking at a business summit hosted by The Times, Thwaite said, per the report: “In effect there will be roles...
The planned acquisition of Connecticut-headquartered Webster Bank by Banco Santander has moved a step closer to getting the regulatory approvals it needs. The Office of the Comptroller of the Currency (OCC) approved the application for the bank merger on Friday (June 12), Webster Bank holding company Webster Financial said in a filing with the Securities and...