The London-based neobank plans to invest $500 million in the U.S. over the next few years amid stiff competition from fintechs, other neobanks and legacy banks.
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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The founder and CEO of the buy now pay later giant spoke with American Banker about how agentic AI will soon revolutionize the way consumers shop, make purchases and manage their personal finances. That will be accretive for Affirm, especially in a world where agents are making payments on behalf of consumers.
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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.
Speakers from the Consumer Financial Protection Bureau, JPMorgan Chase and more outlined the ways they are hunting for much-needed technology talent, from pooled efforts to recruiting outside of the country.
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The Evansville, Indiana, company introduced a boutique-style wealth management business called 1834, which caters to high-net-worth clients.
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The business being sold to Madison Dearborn Partners provides trustee and administrative services to asset managers and retirement plans.
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The deal is the banking titan's latest investment in fintech.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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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.
At its first investor day in a decade and a half, the nation's second-largest bank pegged its guidance for return on tangible common equity at a slightly higher level than what it reported last quarter. Not all investors were impressed.
President Trump's concept, which is framed as a potential bipartisan effort, could mean a new route to a goal Dems targeted via foreclosure sale restrictions.
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Research from Cornell University suggests that people assign different levels of social status to others depending on how they choose to pay for goods and services.
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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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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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Traditional banks warn the Fed's decision to grant Kraken a limited-purpose account introduces systemic risks before final rules are even in place.
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Banks like Grasshopper are already starting to use AI agents where in the past they would have bought software as a service.
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The fresh scrutiny comes as financial firms like Goldman Sachs and Robinhood dabble with various prediction market options.
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Fifty years of sanctions has forced the Middle Eastern country to develop its own isolated financial system. But money has still found a way to move in and out of the country.
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Following a major Supreme Court ruling on tariffs, which drew a quick response from President Trump, banks and their commercial clients are expecting trade issues to remain in flux for the foreseeable future.
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Fifty years of sanctions has forced the Middle Eastern country to develop its own isolated financial system. But money has still found a way to move in and out of the country.
Following a major Supreme Court ruling on tariffs, which drew a quick response from President Trump, banks and their commercial clients are expecting trade issues to remain in flux for the foreseeable future.
The 23rd annual ranking of women leaders in the banking industry.
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