The Swedish financial institution adds P2P payments as it tries to bolster its neobank aspirations. Payment firms don't like the U.K.'s potential restrictions on stablecoins and more in the American Banker global payments and fintech roundup.
By banding together, banks can negotiate better terms with startups and other tech companies, FIS' chief operating officer says.
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Many businesses are slow to adopt payment automation. Amex shared new B2B research with American Banker, and execs R.J. Ancona and Widad Chaoui discussed the firm's strategy to lure corporates to digital payments in an interview at the recent Payments Forum conference and over email.
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The U.K. axed its payments regulator in an effort to reduce red tape as part of the prime minister's Plan for Growth. The move was lauded by industry, but some are concerned the FCA won't give payments the attention they deserve.
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The country's central bank cited geopolitical uncertainty and the increased reliance on digital payments as a reason to focus on offline payments as a backup. Also, a look at U.K. bank outages and other news in American Banker's global payments and fintech roundup.
Disruptive upstarts. Glitches galore. Open banking adoption. Financial institutions are being challenged on multiple fronts — here’s a look at how they’re coping.
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The 2018 Credit Union Cherry Blossom 10-Mile Run and SacTown run helped CUs raise hundreds of thousands of dollars for Children's Miracle Network hospitals. Here's a look at some of the day's festivities.
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BMO Wealth Management aims to modernize its investment service and give advisers better equipment. Others offering automated advice solutions include UBS, Wells Fargo and JPMorgan.
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The information request is the 11th issued by the agency since acting CFPB Director Mick Mulvaney in January launched a review to examine the bureau's practices.
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Over the past year, bankers have been able to sit back and field calls from borrowers eager to take advantage of low rates. Now, with rates rising, many in the industry will likely adopt a more aggressive approach.
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The FHFA’s forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.
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Like the fintechs SoFi and LendingClub, DLP Real Estate Capital is acquiring a community bank largely to lower the cost of funding loans.
The Independent Community Bankers of America wants Congress to eliminate tax exemptions for credit unions with more than $1 billion of assets, scaling back an earlier request that would have targeted the entire credit union sector.
The legislation would direct the department to assess the federal government's ability to respond to a host of systemic challenges including war, pandemic and financial crisis.
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If Capital One successfully buys Discover Financial Services, it would create an entity with an enormous amount of power. That could lead to abuses of vulnerable consumers.
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The decision will turn on whether regulators think the merged company would lessen competition or pose a significant threat to the broader economy if it runs into financial distress.
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On both sides of the Atlantic, regulators have failed to live up to their promises about how they would approach bank failures. Until they do, the industry operates in legal limbo.
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Despite attracting $2 billion in deposits, the cloud-native unit proved too expensive to maintain, prompting a strategic retreat by parent company SMBC.
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Analysts say credit card companies could face a major hit to earnings, while banks would also be under pressure.
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The American Bankers Association and other groups contend the president's plan to cap credit card interest rates at 10% would drive consumers toward less regulated, more costly alternatives.
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A report from the Cato Institute, a libertarian think tank, released Thursday found that most sudden account closures were spurred by supervisory pressure rather than political or religious bias on the part of the banks, a finding that is at odds with the White House's framing of the issue.
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Research from American Banker finds that bankers are still extremely worried about fraud, but hope that raising budgets for artificial intelligence could help.
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Banks will start reporting their fourth-quarter earnings on Tuesday. But it's what bankers say about the next 12 months that will probably attract the most interest from industry observers.
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President Trump said he would prohibit large institutional investors from buying single-family homes. While the executive couldn't bar such investments on its own, a legislative ban could gain bipartisan support.
The company's asset and wealth management business is completely cutting ties with proxy advisors, opting to build its own research and public company voting system. JPMorgan is the first bank to stop using firms such as Glass Lewis and ISS.
The 23rd annual ranking of women leaders in the banking industry.
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