LendingClub saw growth across its business in the first quarter as it prepares to rebrand to Happen Bank and continues to expand its offerings into areas such as home improvement. “All of our consumer businesses showed strong growth, supported by the compelling experience and value...
BMO has debuted a platform for small and midsized enterprises (SMEs) and emerging middle market (EMM) customers. “While most U.S. banks focus digital solutions on retail consumers or large commercial enterprises, many SMEs lack a platform tailored to how owners and growing teams manage their everyday...
Pennsylvania-headquartered Customers Bank plans to deploy artificial intelligence (AI) across its commercial banking operations in a new multiyear strategic collaboration with OpenAI. Aiming to become “one of the first AI-enabled regional banks in the United States,” Customers Bank will leverage OpenAI’s advanced models to reimagine...
Three years ago, First Citizens BancShares acquired failing crypto/tech-focused lender Silicon Valley Bank (SVB). Now, First Citizens says it’s time for an SVB rebrand, according to a Thursday (April 23) news release. Starting in the fourth quarter of this year, Silicon Valley Bank will be divided into two units:...
LendingClub plans to mark its multi-year transition from online lender to diversified full-service bank by rebranding LendingClub Bank as Happen Bank. The company will roll out the new brand this summer across its website, mobile app, marketing and advertising materials, social media and customer communications,...
Consumers are still spending, and for Capital One, that remains the foundation of its cards business while the financial service giant continues to eye longer term artificial intelligence and platform buildouts. “The U.S. consumer remained healthy, and the overall economy remained resilient through the first...
Revolut is reportedly targeting a $200 billion valuation in its eventual public listing. That’s according to a report Tuesday (April 21) from the Financial Times (FT), citing investors who have been briefed by the U.K. FinTech on its plans for a stock market debut. The report comes one...
There’s no shortage of issues testing community banks these days. Managing real-time payments, attracting Gen Z and integrating AI are just a few. But there’s one test community banks might have pushed down on the list. It’s the “everyday test” and it’s the central issue...
Revolut’s chief executive says the FinTech wants to go public, just not right away. Speaking with Bloomberg News in an interview published Monday (April 20), Nik Storonsky said an initial public offering (IPO) for the digital bank might not happen until at least 2028. “Two years away,”...