JPMorgan Chase and Citigroup are among a number of big banks in the U.S. making a move to unload cash, and have asked some corporate clients to shift their funds from deposits to money market accounts, the Financial Times reported, citing sources. Get the Full Story...
Big Tech and FinTech firms are busy creating their own connected ecosystems while striking up relationships with banks, making traditional financial services firms part of the system, too. Google stands as a prime example, with Google Pay and Google Plex. And in other parts of...
In today’s top news in digital-first banking, LendingClub reported that loan originations grew by 63 percent quarter over quarter, while U.S. Bank is rolling out new offerings for special-purpose acquisition companies (SPACs). Plus, companies can now take automated clearing house (ACH) payments via Square Invoices....
France’s competition agency has concluded an investigation into banks, Big Tech and the financial technology (FinTech) sectors, with a warning that vigilance is needed due to “significant changes in the payments sector, characterized in particular by the arrival of major digital platforms.” Get the Full...
It is a widely held belief that open banking is an EU-based concept, driven by data privacy regulations like PSD2. And the U.S., the conventional wisdom goes, is behind the beat. But conventional wisdom, under more rigorous examination, doesn’t hold up too well. Open banking,...
U.S. Bank is rolling out new solutions for special purpose acquisition companies (SPACs), including segregated trust accounts for SPAC proceeds, statements and secure reporting of activity, and more, according to a press release. Get the Full Story Complete the form to unlock this article and...
In today’s top news in digital-first banking, NCR Corporation reported an increase in recurring revenue amid a shift to “NCR-as-a-Service,” while GoCardless rolled out Instant Bank Pay. Plus, Greenlight Financial Technology, Inc. raised $260 million in a Series D funding round. Get the Full Story...
In today’s top news in digital-first banking, Current raised $220 million in an Andreessen Horowitz-led Series D investment round, while Step has raised $100 million in Series C funding. Plus, Barclays is working with Amount to provide point-of-sale financing options. Get the Full Story Complete...
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