Revolut is reportedly wrapping a $3 billion fundraising effort valuing the FinTech at $75 billion. The British company has been notifying investors of the allocation of shares they’ll receive from this oversubscribed funding round, Bloomberg News reported Friday (Oct. 17), citing sources familiar with the...
BBVA’s hostile bid to take over fellow Spanish bank Banco Sabadell has ended after 18 months. Banco Sabadell shareholders representing 25.47% of the voting rights of the company accepted the takeover bid, a figure that fell short of the 30% that was required, Spain’s National...
JPMorgan Chase is reportedly “looking at” banks in Europe and Latin America. Reuters reported that JPMorgan Chase CEO Jamie Dimon said this Thursday (Oct. 16), without specifying if he meant the bank was considering acquisitions. A JPMorgan spokesperson declined Reuters’ request to elaborate on the...
Santander’s digital consumer banking unit Openbank and its consumer finance business are merging. The banking giant announced the merger Wednesday (Oct. 15), saying it plans to eventually operate its European consumer finance businesses under the Openbank brand. “This combination will strengthen our position in key...
All banks talk about using technology to lower costs; esh Group is wagering customers should see the results. The Israel-based, digital-only startup says it will pay account holders every week by splitting the bank’s net interest income evenly with them. “For the first time in...
Community banks remain vital to the U.S. economy but face mounting pressures to modernize amid competition from larger banks and FinTechs. At the Federal Reserve’s 2025 Community Bank Conference, Treasury Secretary Scott Bessent, Federal Reserve Vice Chair for Supervision Michelle W. Bowman, and Governor Michael...
FIS integrated Glia’s artificial intelligence-powered customer interaction platform into its online banking platform. The integration of Glia’s AI for All into FIS’ Digital One provides AI agents that respond to routine inquiries and route more complex issues to human agents, the companies said in a...
Southern California-based East West Bank can now refer its business and commercial banking clients who are seeking in-store and online payment solutions to Worldpay. The bank and the payments technology and solutions company have formed a long-term agreement that gives East West Bank customers access...
As FinTechs seek to broaden their reach, many are turning to bank charters as a means of expanding product lines, cutting through state-by-state licensing and gaining direct access to the U.S. financial system. From Stripe’s merchant acquirer charter in Georgia to Nubank’s bid for a...