Digital finance affords financial institutions and their customers an enhanced experience,
Mobile phones are only going to become a bigger part of how banks interact with their customers, so several institutions are looking to enhance that experience. They are focusing on better ways of opening accounts, verifying identities, interacting with customers and offering new services and features. Here are some of the improvements announced this year.
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The payments platform is preparing for expansion to a market that has a fast-growing real-time transaction rail, making the country a hot spot for international investment.
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City National Bank plans a new branch in California that fulfills one of its settlement obligations with the DOJ; Fiserv and PayPal expand their tech collaboration; Banc of California's Monica Sparks steps down; and more in this week's banking news roundup.
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The buy now/pay later company beat analysts' expectations on revenue, net income and earnings per share as it issued new guidance for the end of its next fiscal year. Its stock was up as much as 31%.
The subprime auto lender Prestige Financial Services used machine learning to make more effective lending decisions than its former model.
The Cleveland-based bank now has commercial lending teams in both markets, including a team it recently hired away from Huntington Bancshares.
House Financial Services Committee ranking member Maxine Waters, D-Calif., led a group of Democrats in challenging Treasury Secretary Scott Bessent over the current state of the Community Development Financial Institutions Fund.
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Far more than most people, financial services professionals ought to understand the compounding crisis of climate change.
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The simple act of disclosing their sensitivity to interest rate changes would bring market discipline to the banking industry's choices about interest rate risk.
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A pending new rule from the Consumer Financial Protection Bureau on customer data will force banks to improve customer service and be more competitive in their pricing.
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The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman.
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The megabank's multiyear effort to simplify its business model and improve its risk management is starting to pay off in the form of more consistent profitability and improved returns, CEO Jane Fraser told analysts.
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The credit infrastructure and analytics company secured $35 million in a Series D funding round, led by Socium Ventures, the venture capital division at Cox Enterprises, to expand cash-flow underwriting into auto lending and personal loans.
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Lebda, who died over the weekend in an ATV accident, built one of the first online financial marketplaces in 1998.
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Federal Reserve Chair Jerome Powell acknowledged skepticism around the central banks large-scale asset purchases during the pandemic, noting the Fed likely "should have stopped" sooner, but fell short of admitting that the purchase of MBS' contributed to housing disparities.
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JPMorganChase CEO Jamie Dimon said that his bank can improve its procedures to guard against fraud.
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Federal Reserve Gov. Stephen Miran reiterated his view that monetary policy has become more restrictive than economists think, but expressed increased urgency that the central bank take strong corrective action.
The 23rd annual ranking of women leaders in the banking industry.
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