Kate Fitzgerald

Alliance Data Systems, which saw key clients like Pier 1 Imports shuttered during the pandemic, has diversified into buy now/pay later loans and other credit products it offers to consumers directly and through merchants.

Card networks are poised to connect to nonfungible tokens, issuers are revamping rewards, and regulators are taking greater interest in installment loans. These developments and more bear watching in the year ahead.

Alloy Labs Alliance, a consortium of community banks, is working with the fintech Payrailz on a project called "Chuck" that would route peer-to-peer payments over different networks, based on which is least expensive for each transaction.

The charity has added digital and contactless options to its traditional cash collections.

The Consumer Financial Protection Bureau has ordered Affirm, Afterpay, Klarna, PayPal and Zip to provide information about the potential risks their products pose.

The issuer will help Skipify develop technology that recognizes returning customers at e-commerce sites, pre-fill payment details and provide access to loyalty programs.

Its new widget allows consumers to initiate a payment from their phone's home screen instead of opening an app to potentially reveal their full banking details to prying eyes.

The company says that marketing its deposit products could help build deeper customer relationships, particularly with student loan borrowers. “We're not just a credit card issuer,” CEO Roger Hochschild told analysts.

Purchases by adults between the ages of 25 and 40 have risen 50% over 2019, and the same group accounts for 75% of sign-ups for American Express’s pricier new cards.

Immigrants from Brazil, Nigeria and Kenya will be able to get scores based on their home country credit histories under a partnership between American Express and Nova Credit.

The fintech is working with Discover, Ally and Alliance Data to offer a wider range of products on top of interest-free installment loans.

Americans are looking for immediate ways to offset rising costs, rather than saving points for future travel. Cash rewards, which were already growing in popularity, are now even more coveted.

A financial literacy and aid program from a coalition of mayors will distribute 10 monthly payments of $350 to 125 youths via the Mastercard-branded Crescent City Card.

The card network chose the majority-Black city as the site of its new operations center in part to improve the racial makeup of its workforce and create a new path to leadership for minorities.

A focus on getting work done more efficiently has prompted these midsize banks to rearrange responsibilities, eliminate red tape and use technology to automate repetitive or tedious tasks. Some are also enhancing leadership development and increasing employee benefits amid an increase in turnover.

The cobranded Amex-Morgan Stanley brokerage card replaces one that offered loyalty points instead of cash.

The largest of the 2021 Best Banks to Work For, those with more than $10 billion of assets, are trying new recruiting tactics and ramping up diversity efforts.

The partnership with the e-commerce giant could help PayPal overcome muted fourth-quarter sales due to supply-chain issues and other factors changing consumer spending.

The smallest of the Best Banks to Work For have figured out how to thrive in an environment where many employees are working fully or partly from home. Some are using flexibility as a tool to stave off burnout.

Executives at the 90 institutions that made the ninth annual ranking are boosting benefits to attract new employees, amid intense competition for talent. They're also rethinking how they approach recruiting and increasing their diversity efforts.