J.P. Morgan Chase is launching an investment product specifically to support Black-owned banks, Bloomberg reported. The financial services firm also made equity investments in four minority banks as part of a mission to reduce the racial wealth gap. Get the Full Story Complete the form...
U.S. bank profits fell 36.5 percent in 2020 compared to the previous year due to the large volume of money set aside to cover potential losses caused by the coronavirus pandemic, according to a report from the Federal Deposit Insurance Corporation (FDIC). Get the Full Story...
In today’s top news in digital-first banking, Brex has filed to open an industrial bank in Utah, while MYBank is getting in on China’s moves toward launching a cryptocurrency. Plus, LINE Corp. and Mizuho Financial Group have agreed to strengthen their investment in LINE Bank...
LINE Corp. and Mizuho Financial Group have agreed to increase their investment in LINE Bank Preparatory Co. and to make changes to its management structure as part of creating a new bank in Japan. The companies said in a press release that the goal is to...
San Francisco-based Brex, which makes financial management software for businesses, announced Friday (Feb. 19) it has filed to open an industrial bank in Utah, according to a press release. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
In today’s top digital-first banking news, Bank of America inventors filed a record number of patents, while Klarna is collaborating with cryptocurrency exchange Safello. Plus, Deutsche Bank has introduced a modern payment system for its Thailand customers to support local collections. Get the Full Story...
In today’s top digital-first banking news, Revolut Business is launching quick-response (QR) codes to facilitate socially distanced payments, while SeedFi has notched $65 million in funding. Plus, an official with the Boston Fed anticipates the economy gaining momentum in the second half of this year....
Digital-first is the mantra of the moment in commerce. Payments are being reconfigured and rewired, creating commerce ecosystems that move with consumers across channels. In a sense, the industry is witnessing a head-to-head matchup amid the scramble to digital-first on a crowded field. Get the...
In a mid-January conference call with analysts, J.P. Morgan Chase CEO Jamie Dimon told analysts that his firm, and other banks, should be scared “s—tless” by FinTechs. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
