Financial institutions (FIs) continue to confront one of the most significant upheavals in the banking industry’s history as they continue to grapple with the pandemic and its ensuing economic downturn. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Citibank has announced that it is rolling out Citi Plus, its Hong Kong project which it recently brought out of beta, according to a press release. The company touts the project as a new way to get people into digital banking. Get the Full Story...
In today’s top news in digital-first banking, Wells Fargo announced that it has made a deal to sell its asset management business for $2.1 billion, while a Federal Deposit Insurance Corporation (FDIC) report discovered that bank profits fell 36.5 percent in 2020. Plus, Alkami Technology...
J.P. Morgan Chase is launching an investment product specifically to support Black-owned banks, Bloomberg reported. The financial services firm also made equity investments in four minority banks as part of a mission to reduce the racial wealth gap. Get the Full Story Complete the form...
U.S. bank profits fell 36.5 percent in 2020 compared to the previous year due to the large volume of money set aside to cover potential losses caused by the coronavirus pandemic, according to a report from the Federal Deposit Insurance Corporation (FDIC). Get the Full Story...
In today’s top news in digital-first banking, Brex has filed to open an industrial bank in Utah, while MYBank is getting in on China’s moves toward launching a cryptocurrency. Plus, LINE Corp. and Mizuho Financial Group have agreed to strengthen their investment in LINE Bank...
LINE Corp. and Mizuho Financial Group have agreed to increase their investment in LINE Bank Preparatory Co. and to make changes to its management structure as part of creating a new bank in Japan. The companies said in a press release that the goal is to...
San Francisco-based Brex, which makes financial management software for businesses, announced Friday (Feb. 19) it has filed to open an industrial bank in Utah, according to a press release. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
In today’s top digital-first banking news, Bank of America inventors filed a record number of patents, while Klarna is collaborating with cryptocurrency exchange Safello. Plus, Deutsche Bank has introduced a modern payment system for its Thailand customers to support local collections. Get the Full Story...
