Watch more: What’s Next in Payments With Matt Pearce of i2c The last decision a bank hands to a machine will likely be one that its employees will still have to explain to a customer or regulator. Releasing an account flagged for complex fraud activity...
Royal Bank of Canada (RBC) has decided to block third-party personal AI agents from direct access to online banking and other RBC digital properties due to concerns about fraud and consumer harm, the bank told its customers in an article posted Tuesday (Oct. 27). The...
Four European banks beat third-quarter profit forecasts, while a fifth bank reported earnings in line with expectations, Reuters reported Wednesday (Oct. 28). The banks reporting stronger-than-expected results Wednesday included Deutsche Bank, BNP Paribas, Standard Chartered and Santander, while the one that met expectations was UBS, according to the report. These results reassured investors...
British digital bank Monzo is continuing its European expansion with operations in Spain. The company’s launch in Spain represents Monzo’s first market in continental Europe, the company said in a news release provided to PYMNTS Wednesday (Oct. 28). It follows Monzo’s securing of a European...
SoFi’s financial services business is gaining momentum even as interest rates move in a direction the company didn’t anticipate, according to the company’s third-quarter earnings call Tuesday (Oct. 27). The digital finance company added a record number of members and products in the third quarter,...
British regulators are reportedly reviewing Revolut’s process for approving new products. The Bank of England’s Prudential Regulation Authority (PRA) issued what is known as a section 166 earlier this year to investigate risks surrounding the speed of Revolut’s product launches, the Financial Times (FT) reported...
Truist is seeking a buyer for specialty lender Afco Credit as the bank sharpens its focus on banking operations, Bloomberg reported Monday (Oct. 26), citing unnamed sources. Afco handles insurance premium financing, and Truist is unloading noncore lending businesses, according to the report. Truist is...
First Internet Bank of Indiana has cut compliance review times for Small Business Administration (SBA) loan applicants by 87% using AI agents, according to a case study from artificial intelligence compliance company Bretton AI. Reviews that took eight to 10 hours now take less than...
Citi’s new program that offers higher savings rates to reward clients who deepen their relationship with the bank went live Monday (Oct. 26). When announcing the program, Premium Boost, in a Sept. 24 press release, Citi said it adds enhanced savings rates to the other benefits it already offered...