Data monetization and real-world asset tokenization company Datavault AI is set to acquire Wyoming financial institution BankWyse. “This acquisition adds the final piece to Datavault AI’s data monetization ecosystem,” the company said in a news release Wednesday (Aug. 19). “BankWyse operates under a Special Purpose Depository Institution charter...
British neobank Monzo was sending customers to its backup bank Wednesday (Aug. 19) morning as it dealt with an outage. “We’ve identified some issues affecting Monzo and activated Monzo Stand-in, our fully independent backup bank,” the bank said in a post on X. “As a result,...
Automated global broker Interactive Brokers (IBKR) has integrated Paysafe’s SafetyPay to enable eligible IBKR clients in Latin America to fund their IBKR accounts directly from personal bank accounts in local currencies, IBKR said in a Tuesday (Aug. 18) press release. This integration expands the number...
Citi has debuted Custody+, a suite of near or real-time custody solutions. The banking giant announced this new offering Tuesday (Aug. 18), noting that it is happening as “institutional investors navigate compressed settlement cycles, continuous markets and AI-driven decision making.” “Citi’s Services business invests over...
Monzo’s chairman is departing the British neobank months after shareholders lobbied for his removal. Gary Hoffman, who joined Monzo in 2019, will leave his post next month, the company said in a statement provided to PYMNTS Tuesday. Karen Peacock will become the company’s interim chair...
On Wall Street, “cheese” is slang for money. In Italy, they decided the metaphor needed collateral. Deep inside climate-controlled warehouses in Emilia-Romagna, hundreds of thousands of wheels of Parmigiano-Reggiano sit on shelves while securing loans from Credito Emiliano, Fortune reported Monday (Aug. 10). It’s banking...
Private credit firms are reportedly moving away from an industry perk called payment in kind. As the Wall Street Journal (WSJ) reported Tuesday (Aug. 11), payments in kind (PIK) have become a widely-used “sweetener” in the private credit space, a sort of escape valve for...
Digital banking software firm Alkami Technology has reportedly put itself up for sale. The move came after the company saw interest from potential buyers and increased pressure to sell from activist investor Jana Partners, Reuters reported, citing sources familiar with the matter. Those sources said Alkami’s advisors have begun...
Watch more: Digital Shift With Increase’s Darragh Buckley An engineer sits across the table from a bank examiner. How does that conversation go? Better than you might think, Darragh Buckley would argue. The engineer wants to know what the system is doing at every step....