Revolut Bank S.A. has received a French full banking license and plans to begin expanding across Europe. The company received the license after a joint assessment by the French prudential regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), and the European Central Bank...
FIS has completed the global rollout of its Digital One Commercial platform by launching it in the Asia-Pacific (APAC) region, the FinTech company said in a Wednesday (Aug. 5) press release. The platform is already available across the United States and the Europe, Middle East...
Zaria Systems, a builder of real-time infrastructure for mark-to-market credit and structured finance, aims to secure a charter for a special-purpose national bank that will limit its activities to the operations of a trust company and related activities, the company said in a Wednesday (Aug....
Payments solutions platform Nayax is the latest FinTech seeking an American banking charter. The Israel-headquartered company announced Thursday (Aug. 6) that it had applied to the Connecticut Department of Banking to establish Nayax America Bank Inc., a “non-depository innovation bank” chartered under Connecticut’s Innovation Bank framework. “Payments are how we built...
Wells Fargo reportedly hopes to launch tokenized deposits for corporate/commercial customers. That’s according to a report Tuesday (Aug. 4) from the Wall Street Journal (WSJ), which calls the offering the latest example of how banking giants are embracing digital assets. Company officials told the WSJ that offering —...
Programmable money movement firm Dakota is seeking a national trust bank charter, according to a Tuesday (Aug. 4) message to customers. A charter from the Office of the Comptroller of the Currency would allow Dakota to become “a federally regulated provider of digital asset custody,...
Watch more: Need to Know With Bretton AI’s Will Lawrence Every artificial intelligence (AI) tool a bank adds to solve one risk problem gives it another vendor to vet, another platform to monitor and another set of decisions to explain to regulators. That’s the paradox...
Banking-as-a-service has traditionally had sponsor banks for doing everything themselves: issuing accounts, holding deposits, processing payments and financing lending. But latest earnings from two sponsor-bank operators suggest some flexibility in the model, where deposits can be managed independently from the FinTech relationship itself. First Internet...
Payments and treasury technologies have traditionally been positioned by the banks powering them as purely infrastructure. The same way baseball players need a field to play ball, the thinking went, financial services needed the indispensable machinery powering payments that helps clients move money, manage liquidity...