Klarna is increasing its digital banking efforts as it prepares to go public again. As the Financial Times (FT) reported Monday (June 27), the Swedish company has been branching out from the buy now, pay later (BNPL) products that were its core business, launching new...
Banco Sabadell is reportedly considering selling its U.K. unit, TSB, to Banco Santander or Barclays to avoid a hostile takeover by BBVA. The bank is accepting offers for TSB through Friday (June 27) and is likely to then select one bank with which to negotiate a potential deal, Bloomberg reported Friday. It is...
Neobank Starling Bank, based in the United Kingdom, is exploring a “range of expansion options” in the United States, a Starling spokesperson told PYMNTS in a Thursday (June 26) email. The comments followed PYMNTS’ inquiry about a report that Starling aims to support its expansion...
The Federal Reserve reportedly voted Wednesday (June 25) to advance a proposal that would ease the “enhanced supplementary leverage ratio” that determines the amount of capital banks must hold against relatively low-risk assets. The Fed board voted 5-2 to advance the proposal, Reuters reported Wednesday....
Santander Bank has made a deal to sell seven branches in Pennsylvania as it continues its transformation into a national, digital-first bank. The firm agreed to sell the branches to Syracuse, New York-based Community Bank, which operates about 200 branches in Pennsylvania, New York, Vermont and Massachusetts. The transaction...
On June 20, Nissan North America’s financial services arm, Nissan Motor Acceptance Corp. said it submitted an application with state and federal regulators to form Nissan Bank. The application with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions is the...
Mastercard will begin allowing U.K. banks and financial institutions to access its fifth-generation account-to-account (A2A) instant payments via a sandbox later this year. This offering will allow U.K. banks and financial institutions to innovate, test and refine new payment services within a trusted and secure...
In 2000, USA Today was the most circulated newspaper in the United States. More than 1.6 million copies were printed each day. Over 6.6 million readers picked it up. It sat in every hotel lobby and at every airport gate. It was the newsprint on...
For decades, banking infrastructure meant heavy metal — mainframes, on premises, in-house and legacy systems layered upon legacies. Batch systems and processing, and a set schedule of money movement. The systems are creaky and limited in an age where money movement now is moving toward...