The proposed merger of Fifth Third Bancorp and Comerica moved a step closer to completion Tuesday (Jan. 6) as shareholders of the two banks voted to approve the combination. The transaction remains subject to other customary closing conditions but is expected to close during the...
JPMorgan Chase has launched a service designed to offer clients more insights into its expertise. The banking giant’s “Special Advisory Services” initiative, announced Monday (Jan. 5), is designed to offer advice beyond standard merger and acquisition (M&A) or financing. “Clients will have access to the firm’s expertise in...
Relaxed rules in the U.S. around banking mergers have reportedly caught the eye of activist investors. That’s according to a report Tuesday (Dec. 30) by The Wall Street Journal (WSJ), which said this uptick in interest comes amid a rebound in banking deals. As of early December,...
Banks have spent years tuning front-end digital experiences, yet a growing share of revenue risk now sits deeper inside the institution, where billing logic, pricing governance and data visibility intersect. That is the central message of the PYMNTS Intelligence Digital Financial Services Tracker, “From Back...
British bank Lloyds is reportedly ending its small-business-focused invoice financing program. The factoring program will close by the year’s end, the Financial Times (FT) reported Sunday (Dec. 28), citing two sources familiar with the matter. The report characterizes the move as a blow to Lloyd’s...
Silicon Valley-focused banking startup Erebor Bank is expected to raise $350 million, Bloomberg reported Tuesday (Dec. 23). The funding round would value Erebor at $4.35 billion, according to the report, which cited unnamed sources. Backed by billionaire Peter Thiel and named for the dragon-guarded mountain...
Digital bank Monzo is set to expand to Ireland and other European markets after securing a full banking license from the European Central Bank and the Central Bank of Ireland. Monzo will first expand into Ireland, with its European headquarters and a team located in...
FinTech company Mercury has applied for a national bank charter with the Office of the Comptroller of the Currency (OCC) and for federal deposit insurance with the Federal Deposit Insurance Corporation (FDIC). Mercury aims to combine its existing financial software with the strength and stability...
The Federal Deposit Insurance Corporation (FDIC) approved a deposit insurance application to establish Erebor Bank, a new national bank that plans to provide deposit and lending products to businesses and individuals in the technology, payments systems, investment and defense industries, including participants in virtual currency...