In the next 10 years, as robots and other tech bring about the “greatest transfer from labour to capital” the industry has witnessed, per a report by Wells Fargo analysts, U.S. banks will slash over 200,000 jobs. Veteran Wall Street Analyst Mike Mayo noted that...
After starting out the week with a bang and announcing a big new partnership with Visa, Revolut today (Oct. 1) reported that in 2018, its losses doubled as a consequence of its aggressive push for global reach. The firm officially recorded a net loss of £32.8 million...
Challenger banks in the U.K. are having a hard time competing with the country’s big four financial institutions. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to...
Consumer bank Marcus, launched by Goldman Sachs in 2016, has lost $1.3 billion despite buying startups and building call centers in Utah and Texas, The Wall Street Journal reported Saturday (Sept. 28). Get the Full Story Complete the form to unlock this article and enjoy...
And now begins some more heavy lifting. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree...
Since California first declared marijuana “legal” for medical consumption in 1996, transactions involving legally permitted cannabis have been complicated things. In fact, in the intervening 23 years, the situation has arguably gotten even more complex as 31 states (plus the District of Columbia) have legalized...
The U.S. House of Representatives passed H.R. 1595, known as the Secure And Fair Enforcement (SAFE) Banking Act, on Wednesday (Sept. 25). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
Emirates banking group Emirates NBD has announced the creation of E20., a digital bank for the region, according to a release by the company. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
Among the biggest ongoing challenges and opportunities in payments – and a trend that will hold well into the 2020s, which are just about to start – is using mobile technology to bring more consumers into the formal financial sector. That can be easier said...
