After gaining a restricted banking license in the U.K. in July, Revolut is reportedly working to build out its banking operations there, expand globally and then launch an initial public offering (IPO). The company aims to become a global financial services app, Revolut U.K. CEO Francesca...
Verizon has launched a long-term partnership with Santander’s U.S. digital banking platform. The collaboration, announced Tuesday (March 18), offers a high-yield savings account on Santander’s Openbank platform to Verizon’s mobile and 5G customers in the U.S. The Verizon + Openbank Savings account, the companies said...
Mastercard has teamed with ICBA Payments, payments subsidiary of the Independent Community Bankers of America. The alliance is designed to help community banks modernize their card programs and offer enhanced payment services, according to a Monday (March 17) news release. “Today, we’re not only upgrading payments but also investing...
British bank Virgin Money has launched an open banking-focused partnership with Mastercard. The collaboration will let Virgin Money customers view all their credit card and current account balances and transactions from any provider on the company’s credit card app, Virgin Money said in a news...
The benefits of real-time payments may be readily apparent to financial institutions (FIs) — as they can serve their clients with new use cases, including pay by bank and immediate payroll deposits. They can foster strong relationships with commercial customers with speedier and more transparent...
Revolut is reportedly hiring 100 new staffers as it prepares to expand its U.K. banking business. The FinTech received its long-awaited British banking license last summer — albeit with some restrictions — and has already begun building that side of its business, Francesca Carlesi, Revolut’s...
Michael Haney describes himself as a “reformed banker.” As head of product strategy at composable banking architecture provider Galileo Financial Technologies, he has a unique perspective on payment modernization and paints a vivid picture of modern consumer expectations that some banking executives ignore at their...
Wells Fargo reportedly sued JPMorgan Chase on Monday (March 10), alleging that the bank knowingly made a loan based on faulty numbers, knowing that the loan would later be sold off in pieces to investors. In its lawsuit, Wells Fargo seeks to recover losses for...
While banks in the United States face obstacles to doing business in Canada, they are reportedly not clamoring for changes. Bank executives do not often bring up the issue, The New York Times reported Thursday (March 6) in an article fact-checking President Donald Trump’s social...