Chime has launched a premium membership tier that rewards members who make Chime their primary checking account. The new Chime Prime is automatically delivered to members who receive at least $3,000 per month in qualifying direct deposits, the FinTech company said in a Thursday (April...
SoFi is expanding its blockchain efforts with the debut of its Big Business Banking tool. The new offering is designed to let businesses manage fiat and cryptocurrency banking from a “single, nationally chartered bank,” the financial services company said in a new release provided to PYMNTS...
The New York Fed has named Citigroup CEO Jane Fraser to the Federal Reserve Board of Governors’ Federal Advisory Council. The Federal Reserve Bank of New York announced Fraser’s appointment on Tuesday (March 31), though her one-year term began in January. The council is made up of one...
Neobanks have spent the better part of a decade refining digital-first models and then attempting to transplant them into new markets—with at least some strategy that what works in in one geography would travel cleanly into another, as living life digitally is a global phenomenon....
JPMorgan Chase has launched a program aimed at boosting economic opportunity around the U.S. The “American Dream Initiative” will focus on six areas, with an early emphasis on small businesses, the banking giant said in a Tuesday (March 31) news release. “The American dream is alive, but...
Money transfer FinTech Wise is making a new push into the banking space. The company on Monday (March 30) announced the launch of its UK Current Account, framing it as a challenge to Great Britain’s retail banking sector. “Banks haven’t kept pace with what customers expect for their current...
Citigroup is considering acquiring a major U.S. regional bank or a brokerage, Bloomberg reported Friday (March 27), citing unnamed sources and adding that Citigroup said the report was “baseless speculation.” The bank’s executives are weighing the move to gain more deposits that could fuel Citibank’s...
The earliest interactions between a consumer and a financial provider rarely take place in a branch, and the account opening is just the beginning. The most important moment, arguably, happens when money arrives into accounts, and ease of fund flows and accessibility carry weight that...
German embedded finance platform Solaris is cutting 20% of its workforce, about 80 roles out of 400, as it transforms itself into an “AI-native bank,” Tech.eu reported Wednesday (March 25). This restructuring follows Solaris’ previous job cuts, a write-down and a November 2024 rescue funding...