Cari has lined up five banks so far to support tokenized deposits for transactions such as real-time payments.
Banks will need to evolve further and faster to reach consumers in an interconnected, always online world, according to industry leaders.
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Following a judge's rejection of a 2024 settlement with merchants, the card networks are offering a slightly higher interchange reduction and easing card acceptance rules. It's the latest attempt to end a legal fight that's two decades old.
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Consumers' and merchants' penchant for 0% loans are boosting the buy now/pay later lender in its first fiscal quarter ended Sept. 30, as gross merchandise volume hit a record.
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Eric Girard, who became the bank's head of embedded banking and co-head of commercial product in October, is aiming to make the technology more accessible.
In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.
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The deal is the banking titan's latest investment in fintech.
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After several years when the scandal-plagued bank was focused on cost cutting, CEO Charlie Scharf indicated Tuesday that the company has opportunities to expand revenue across every line of business.
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The Texas company has set up commercial banking offices in Charleston and Greenville, and it has established a private banking office in Atlanta. Its long-term goal is to build a branch network in some key Southeastern markets.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
The Consumer Financial Protection Bureau has seen a rapid drop in the effectiveness of its cybersecurity program, according to a new report from the Fed's Office of Inspector General.
The Senate allowed the nomination of a permanent director of the Consumer Financial Protection Bureau to lapse, giving acting Director Russell Vought more time to lead the agency on a temporary basis.
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The ongoing turmoil in the Middle East has highlighted the complexities of successful anti-money-laundering compliance in a conflict zone. U.S. banks need to step up their game in order to stay safe.
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Rocket Mortgage's acquisition of Redfin has been mischaracterized as harming competition in the mortgage lending space. The truth is that it could be a major boon for mortgage borrowers.
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Federal grants funding nonprofits that help people build strong credit are being slashed. The result will be more foreclosures, evictions, bankruptcies and out-of-business signs at small businesses across the country.
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While the Office of the Comptroller of the Currency's recently published stablecoin rule bars stablecoin issuers from offering yield on holdings, there is enough wiggle room in the proposal — and unfinished business in Congress and the courts — for rewards to ultimately be accepted.
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The Chicago-based lender service provider, which has helped build Northeast Bank in Maine into an SBA powerhouse, has expanded its capacity with an AI-driven technology upgrade.
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The House Financial Services Committee passed a legislative package heavily favored by banks in a 26-16 vote
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By acquiring the ATM firm, Brink's hopes to expand in retail commerce. Plus, Revolut issues a card to compete with Amex; Standard Chartered has a new payments chief; and more in American Banker's global payments and fintech roundup.
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The blockchain technology firm has added new processing tools for digital assets and traditional money, pitching itself as a destination for crypto-curious banks.
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Banco Santander's bid to buy U.S. regional bank Webster Financial could face surprise challenges following a dustup between President Trump and Spain's leaders over the war in Iran.
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Banco Santander's bid to buy U.S. regional bank Webster Financial could face surprise challenges following a dustup between President Trump and Spain's leaders over the war in Iran.
Traditional banks warn the Fed's decision to grant Kraken a limited-purpose account introduces systemic risks before final rules are even in place.
The 23rd annual ranking of women leaders in the banking industry.
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