Digital bank users are not simply early adopters of new payment methods. They represent a distinct slice of the U.S. banking population, shaped by age, income, education and daily payment habits in ways that set them apart from customers of traditional banks. That portrait comes through clearly in “Pay by...
Startup-focused lender Erebor has become the first bank chartered under the second Trump administration. The bank aims to fill the void left by the 2023 implosion of Silicon Valley Bank, which catered to tech companies, founders and venture capital outfits, The Wall Street Journal (WSJ)...
Nubank’s effort to get a banking license in the United States is part of a global expansion planned by the digital bank, Bloomberg reported Thursday (Feb. 5). The company’s 2024 investment in digital banking group Tyme Group, which operates TymeBank in South Africa and GoTyme...
Treasury Secretary Scott Bessent used his House testimony Wednesday (Feb. 4) to spotlight an urgency for new bank formation. More than half of community banks have disappeared since the financial crisis, he told lawmakers, as PYMNTS reported, and “there have been virtually no de novo...
Fictor Holding filed for bankruptcy protection in Brazil, with its holding company and a financing firm seeking to restructure 4 billion reais (about $763 million) in debt, Bloomberg reported Monday (Feb. 2). The Brazilian firm’s other companies, including Sao Paulo Stock Exchange-listed Fictor Alimentos, are...
The merger between Fifth Third Bancorp and Comerica Incorporated closed Monday (Feb. 2), forging an institution with roughly $294 billion in assets and signaling a reshaping how regional banks compete across mobile banking, commercial payments and middle-market services. The transaction establishes the ninth-largest U.S. bank...
Visa, JPMorgan Chase and Bank of America are among the companies that will support Trump Accounts. Set to be launched this year, Trump Accounts will be tax-advantaged investment accounts for U.S. citizens under the age of 18, according to a U.S. government website about the...
Trust has always been central to payments, but it is changing as payments evolve. Traditionally, trust resided in the network brand stamped on a physical payment card, and consumers trusted these networks to resolve disputes and protect them from fraud. Today, as payments go digital,...
British FinTech Revolut has officially launched its banking operations in Mexico. Revolut Bank S.A Institución de Banca Múltiple is the first bank the company has established and launched outside continental Europe, Revolut said in a Tuesday (Jan. 27) news release. “Revolut’s technology will empower millions across Mexico with...