The San Francisco company hopes to lower its costs by driving out human intervention as much as possible. To get there, it has made the counterintuitive decision to locate its operations staff in one of the countrys most expensive cities.
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Here's what's happening around the world
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The first credit unions enrolled in the Federal Reserve's FedNow instant payments platform say it will fundamentally change the way they serve consumers and businesses across multiple categories.
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Google's $700 million antitrust settlement is part of a series of legal battles that are eroding Big Tech's control over checkout, cracking a door for other transaction processors and the bank-led Paze wallet from Zelle's developers.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Morgan Stanley and Goldman Sachs have arranged two term loans totaling $395 million that will back Hubbard Radio's acquisition of 17 radio stations from Bonneville International, according to sources.
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Putnam Investments announced a new suite of income-oriented funds designed to help advisers better serve their clients' retirement issues.
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Some companies on SourceMedia’s Best Fintechs to Work For list offer their employees extra time off to live boldly.
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The federal banking agencies will not hold a hearing on a proposal to reduce the number of residential real estate transactions that require an appraisal.
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The Senate Banking Committee's vote on Mark Calabria's nomination to lead the agency comes amid speculation about congressional and administrative GSE reform plans.
The Consumer Financial Protection Bureau's overdraft proposal would set fees at $14. With fee income under attack from many sides, bankers say they would have to further restrict credit.
In comments to reporters, Sen. Elizabeth Warren, D-Mass., underscored what she said was a conflict of interest between Elon Musk's DOGE's actions at the Consumer Financial Protection Bureau and his business interests with X Money.
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Banks need to come together to create interoperable tokenized deposits, as part of an effort to bridge the gap between traditional finance and blockchain.
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Government has an exciting opening to use its unprecedented reach and newfound trust among small-business owners to connect entrepreneurs with sources of capital that can help them grow.
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The central bank has a long history of diluting the effectiveness of the Community Reinvestment Act.
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The $4.6 trillion-asset company's report comes after it committed to funneling $1.5 trillion into industries deemed important to national security.
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The housing agency director told Sen. Cortez Masto a Federal Home Loan Bank reform review is ongoing and took issue with Sen. Warren's inquiries about meeting transparency.
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JPMorgan estimates the effort, which will ramp up the amount of capital, resources and personnel that it dedicates to a variety of sectors, such as rare earth minerals, pharmaceutical precursors and robotics, will add as much as $500 billion to what it would've provided anyway.
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Firms like Brex and Ramp are adding new tech faster than legacy banks, according to payment experts.
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The Office of Management and Budget issued reduction in force notices to Treasury staff working in the Community Development Financial Institution office Friday, saying that the layoffs are necessary to "implement the abolishment" of the fund.
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Former City National CEO Kelly Coffey has a new venture in wealth management; Erin Siegfried is Northwest Bancshares' new chief legal counsel and corporate secretary; Flagstar Bank secures OCC approval to merge its holding company into the bank; and more in this week's banking news roundup.
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- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
Ghiawadwala, who climbed Mount. Kilimanjaro last year, is helping Citi's commercial banking business reach new heights.
Public sector banking doesn't have a line on Citi's income statement. But Monaco's global influence is threaded throughout the bank's work with government finance ministries, central banks and other sovereign entities.
The 23rd annual ranking of women leaders in the banking industry.
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