Scott Smith is co-founder and chief operating officer at Fizz, a money app for students. He previously studied finance, economics, accounting and real estate at Cornell University's School of Hotel Administration.
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The U.K. fintech has launched a series of products that expand on its core payments business and compete with banks and other payment technology firms.
July 10
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The AI and cybersecurity-focused startups completed the vetted proof-of-concept program to prepare for their next level of growth.
July 10
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Bill Martin, a real estate developer and athletics executive who founded the community bank in 1996, said he considers the privately held institution to be "like one of my kids."
July 10
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The megabank announced it would invest $16 million to grow its footprint in the North Carolina banking mecca.
July 9
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The labor market was a bigger point of discussion in the Federal Reserve's most recent monetary policy-setting meeting, but officials were divided about the path of future actions.
July 9
Growing loans was a tall order in 2024, but banks that could do just that were able to outperform their peers.
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
Seven of the 20 top-performing banks with $2 billion to $10 billion of assets last year were based in Texas. But it's not about being bigger.
Fifteen banks have failed since 2019, with the most recent one occurring on Jan. 17.
Fedwire has migrated to ISO 20022, a messaging standard designed to make it easier for digital real-time processing rails to work together. It's a difficult lift for banks, but the agency promises it will be worth it.
Scott Smith is co-founder and chief operating officer at Fizz, a money app for students. He previously studied finance, economics, accounting and real estate at Cornell University's School of Hotel Administration.
Flagstar Bank wants to merge its holding company into the bank, which would cut $15 million in annual expenses and eliminate regulatory oversight by the Federal Reserve, leaving the OCC as its primary regulator. The bank's CEO, Joseph Otting, is a former comptroller of the currency.
Fifteen banks have failed since 2019, with the most recent one occurring on Jan. 17.
Fedwire has migrated to ISO 20022, a messaging standard designed to make it easier for digital real-time processing rails to work together. It's a difficult lift for banks, but the agency promises it will be worth it.
Scott Smith is co-founder and chief operating officer at Fizz, a money app for students. He previously studied finance, economics, accounting and real estate at Cornell University's School of Hotel Administration.
Bankers are concerned about stablecoins gaining traction due to the passage of the GENIUS Act, and also continue to sound the alarm about the failure to resolve check fraud disputes, according to the latest quarterly survey from IntraFi.
Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.
The CEO of First Northwest Bancorp is promising to fight a lawsuit claiming the lender helped a client perpetrate a Ponzi scheme that bilked a hedge fund out of more than $100 million.
Most Influential Women in Payments honorees say the dramatic expansion in technology presents new opportunities and challenges as employers evolve away from traditional business models.
Honorees from American Banker's Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
Each year, American Banker recognizes the women who are advancing the payments industry in banking, retail, acquiring, processing and more.
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The banks have invested in gen AI and embedded finance, respectively.
August 12 -
John Buran shares how his New York bank and its small business customers are faring with tariff uncertainty — and how some have quickly changed suppliers and modified business plans — in the latest American Banker podcast.
July 15
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U.K. regulators said Monzo didn't properly vet new customers, while Vocalink was dinged for risk management lapses. Also, Paxos launched a dollar-backed coin in the European Union; and more news in the weekly global payments and fintech roundup.
July 9
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The case has put chief information security officers on notice that they could be personally liable for false statements about security policies and practices.
July 9
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Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.
July 9
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New Jersey state lawmakers have introduced a state-level Community Reinvestment Act that would include online lenders and credit unions — who are exempt from the federal law — in its scope.
July 9
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One of the oldest U.S. banks is taking on custody of RLUSD, as stablecoins continue their perceived march toward general acceptance.
July 9
