Stark Bank, a growing FinTech startup based in Sao Paulo, Brazil, reportedly caught the attention of investors including Jeff Bezos’ family office, Bezos Expeditions, which participated in the firm’s 2022 Series B round. The company is one of the few Latin American startups backed by...
Velmie launched its Business Banking Platform designed to help financial services providers and FinTechs broaden their product offerings. The platform enables these companies to cater to business client needs, including corporate payroll, automatization of payments, invoice factoring, cryptocurrency payments and business deposits, the FinTech company...
While other lenders are cutting staff, Silicon Valley Bank (SVB) is reportedly hiring. The financial institution, whose failure in March of 2023 set off a larger banking crisis, has added about 200 bankers since then and has openings for dozens more, President Marc Cadieux told Bloomberg News Thursday (Feb. 15). “So...
U.S. Bank said Thursday (Feb. 15) that more than 2,000 of its clients have been approved for personal loans over the past few months thanks to the technology and credit intelligence network enabled by the bank’s partnership with Pagaya Technologies. The bank teamed up with...
PNC Bank will invest $1 billion to open more than 100 new locations and renovate 1,200 existing ones through 2028. The bank currently has about 2,300 brick-and-mortar locations across the country, PNC Bank said in a Wednesday (Feb. 14) press release. With this investment, the...
Europe’s new top bank regulator wants lenders to beef up plans for dealing emerging risks. “Many of the issues dominating today’s headlines were inconceivable a decade ago,” Claudia Buch said in her first speech as chair of the European Central Bank’s Supervisory Board Monday (Feb. 12), per a report...
America’s three biggest consumer banks saw their overdraft fee revenues fall 25% in 2023. J.P. Morgan Chase, Bank of America and Wells Fargo collected $2.2 billion in total in those fees last year, a recent CNBC report said, citing data from the Federal Financial Institutions Examination Council (FFIEC). That figure...
American lenders have loaned so-called “shadow banks” more than $1 trillion, and regulators are worried. That’s according to a report Saturday (Feb. 10) by the Financial Times (FT), which cites recent figures from the U.S. Federal Reserve showing that U.S. banks’ loans to non-deposit-taking financial...
FIS has debuted a platform that lets its clients’ customers share banking data. The Florida-based global FinTech has signed agreements with data networks Akoya, Envestnet, Yodlee, MX and Plaid to integrate into the FIS Open Access platform, the company said in a Thursday (Feb. 8) news release. This open banking platform, the release...
