Wells Fargo has filed a trademark application for “WFUSD,” a new digital asset-centric platform. WFUSD would provide services “featuring software for tokenization of assets” and “cryptocurrency payments processing” and would “execute trades of digital assets,” the banking giant said in a filing Tuesday (March 10) with the U.S....
Revolut’s long journey to obtaining a U.K. banking license has reached its end. The London-based FinTech announced Wednesday (March 11) that it had landed regulatory approval from the Prudential Regulation Authority (PRA) to launch as a bank in Great Britain. Revolut has technically been licensed since July of 2024 — after undergoing...
The subscription economy has reshaped how consumers pay for entertainment, software and even groceries. Now a similar model is making inroads into retail banking, as FinTech platforms package financial services into tiered memberships designed to consolidate accounts, payments and rewards inside a single ecosystem. The...
The financial industry in the United States rests in part on an architecture of trust and institutional legitimacy. Access to the Federal Reserve’s infrastructure has long been viewed as the ultimate sign of that legitimacy and reliability. It is a badge that startup payment and...
Comptroller of the Currency Jonathan Gould said Thursday (Feb. 26) that he will consider sharing the unredacted bank charter application of World Liberty Financial, the decentralized finance company co-founded by members of the Trump family, with the chairman and the ranking member of the Senate...
Banco Santander is leveraging artificial intelligence (AI) as it works to boost its profit and its customer base over the next 24 months. The bank plans to achieve a profit of over 20 billion euros (about $23.6 billion) by 2028, up from the record attributable...
Updating the banking core has traditionally been viewed as akin to docking a cruise ship, with modernization serving as shorthand for incrementalism. Digitize the front end, bolt middleware onto aging cores and keep the balance sheet insulated from technological risk. But JPMorgan Chase’s decision to...
The Trump administration is considering requiring banks to collect citizenship information from both new and existing customers, The Wall Street Journal reported Tuesday (Feb. 24), citing unnamed sources. This requirement could be implemented by an executive order or other action, according to the report. Asked...
JPMorgan Chase’s latest company update, on Monday (Feb. 23) underscored that the firm’s technology agenda now extends well beyond internal productivity initiatives. Across the presentation and the question-and-answer session, executives consistently positioned artificial intelligence as a central component of competitive strategy, client engagement, with a...