Roberto Campos Neto, the president of Brazil’s central bank, is reportedly planning to establish a FinTech firm in Miami following the conclusion of his term in December. Campos Neto, who is renowned for his successful management of inflation in Brazil, aims to use his expertise in...
The evolution of money movement, and of banking, are intrinsically linked. That’s why, as money became digitized and embedded, so too did banking, via the first iteration of the banking-as-a-service (BaaS) model. But as digital, instant payments become regarded as the norm, and the BaaS...
British banking-as-a-service (BaaS) platform Griffin is now officially a fully operational bank. The company announced Sunday (March 10) that it had received approval from the U.K.’s financial services regulators, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), to lift restrictions, allowing Griffin to...
Chime has partnered with Upside to launch a fee-free cash-back feature. The new Chime Deals allows Chime members to take advantage of cash-back opportunities on everyday spending on things like gas, groceries and dining, the company said in a Monday (March 4) press release. These offers are available at...
Mastercard is preparing to launch a new digital account opening experience for select U.S. debit and prepaid products. The program will use open banking solutions to streamline and secure the account opening process, Mastercard said in a Wednesday (Feb. 28) press release. It is expected...
Finland-based payment processor Enfuce is expanding its operations in the United Kingdom. The FinTech said in a Tuesday (Feb. 27) press release that it received an electronic money institution (EMI) license from the U.K.’s Financial Conduct Authority, allowing it to provide issuing and payment solutions...
Fidelity National Information Systems (FIS) reported fourth-quarter earnings results that showed momentum in recurring revenue metrics as financial institutions expand their digital banking initiatives and offerings. Earnings materials Monday (Feb. 26) detailed that banking and capital markets-related revenue growth in the fourth quarter showed 7%...
FairMoney, a digital bank based in Lagos and headquartered in Paris, is reportedly in talks to acquire Umba, a digital bank operating in Nigeria and Kenya. The talks involve a $20 million all-stock deal, but negotiations are in their early stages, TechCrunch reported Tuesday (Feb....
Brazilian neobank Nubank is predicting it will someday become Latin America’s largest financial service company. “I think that will happen eventually,” CEO David Vélez told the Financial Times (FT) Tuesday (Feb. 6), referring to the company’s ambitions to lead its industry in terms of customer numbers. “We’re now in the...