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Market Intelligence:
AI
Payments
Research
  • Branch banking
    In rural Alaska villages, internet banking comes with challenges

    Remote deposit capabilities have vastly improved banking services for residents of villages in western Alaska. But unreliable service means some face difficulties when trying to access their banking apps or make payments.

    By Polo Rocha
    Staff Writer
    December 13
    IMG_2809.jpg
  • Credit unions
    'We aren't being recognized': Workers' union bid at one financial institution

    Employees of a Lake Michigan Credit Union branch say they're fighting to organize after upper management failed to respond to their complaints about pay disparity, COVID-19 benefits and more.

    By Frank Gargano and Polo Rocha
    December 13
  • Fintech
    J.P. Morgan partners with Trovata to enhance corporate cash management

    The deal is the banking titan's latest investment in fintech.

    Catherine Leffert Author Image
    By Catherine Leffert
    Reporter
    December 13
    jpmorgan-bloomberg-12-20
  • Fintech
    Are banking-as-a-service vendors partly to blame for banks' fintech problems?

    Regulators are chastising banks for compliance lapses among their fintech partners. But some say the software companies that connect them share some responsibility.

    Penny Crosman Cropped
    By Penny Crosman
    Executive Editor, Technology at Arizent
    December 13
  • Regulation and compliance
    ECB supervisor: 'Fraught' environment calls for strong risk management, collaboration

    Elizabeth McCaul, the first American to serve on the European Central Bank's supervisory board, talks crypto controls, systemic risk and the need for regulators on both sides of the Atlantic to do a better job of harnessing data.

    Kyle Campbell, Washington bureau, American Banker
    By Kyle Campbell
    Staff writer
    December 13
  • Commercial banking
    Glass half full? Bankers expect a recession, but not a severe one

    The overwhelming majority of top leaders at large U.S and Canadian banks expect a prolonged downturn in 2023, according to a recent survey. Almost none of them expect it to be particularly harsh, though.

    By Allissa Kline and Kevin Wack
    December 12
  • Cloud computing
    Microsoft plans to buy stake in and partner with London Stock Exchange

    The U.K. exchange will spend at least $2.8 billion on cloud services from the tech giant over the next decade.

    Catherine Leffert Author Image
    By Catherine Leffert
    Reporter
    December 12
    London Stock Exchange Group
  • Payments
    Card testing: An old crime gets a boost in the downturn

    Attacks designed to gauge the value of a stolen card are growing quickly as the transaction mix becomes more digital, with smaller and more frequent purchases.

    By John Adams
    Executive Editor, Payments
    December 12
    Megson-Will-Stripe
  • Industry News
    Greenwood launches upscale benefits with a $200 monthly fee

    The challenger bank for Black and Latino individuals introduced Elevate, a membership-only tier that includes access to private clubhouses and networking aimed at people of color.

    By Miriam Cross
    Tech Reporter
    December 9
    Ryan Glover, chairman and cofounder of Greenwood, left. Paul Judge, co-founder and board member of Greenwood, right.
  • Credit unions
    Remote work debate rages on at credit unions nearly three years into pandemic

    Many U.S. companies — including JPMorgan Chase, Morgan Stanley and Apple — have drawn attention for increasing pressure on employees to show up more at the office as COVID-19 concerns ebb. Some credit unions have taken similar steps, while others still insist a hybrid schedule is better for recruitment.

    Ken McCarthy Author Image
    By Ken McCarthy
    Reporter
    December 9
    Greg Mitchell, president and CEO of First Tech Fed; Navy Federal's Britt Bloch; Pinnacle CU's CEO Matt Selke
  • Payments
    In cross-border payments, the disrupted have become the disruptors

    After years of fintechs taking the lead in modernizing cross-border payments, fresh momentum is coming from traditional payments and banking infrastructure players, including the card networks and the 50-year-old SWIFT.

    By Kate Fitzgerald
    Senior Editor, Payments
    December 9
    Ripple XRP
  • Politics and policy
    House votes to ease banks' hiring of ex-convicts, while Senate snubs pot banking

    The House of Representatives adopted a defense authorization bill that includes a measure to make it easier for entry-level employees with criminal records to join a bank. Meanwhile, the Senate omitted a pot banking provision from its version of the must-pass spending legislation.

    John Heltman
    By John Heltman
    Washington Bureau Chief
    December 8
    The U.S. Capitol Building
  • Regulation and compliance
    'I just don't think they'll ever get approved': PNC's Demchak on M&A delays

    William Demchak, the Pittsburgh bank's CEO, is leery of acquiring banks amid elevated regulatory scrutiny. KeyCorp Chief Executive Chris Gorman has similar concerns, citing economic uncertainty in addition to the long waits for approval.

    By Jim Dobbs
    Deputy Editor, Community Banks
    December 8
    William Demchak, PNC CEO
  • Payments
    U.K. fintech Curve, flush with cash, takes aim at U.S. expansion

    A $1 billion investment from Credit Suisse gives the startup the means to bring its all-in-one payment card to a new market.

    By John Adams
    Executive Editor, Payments
    December 8
    OrsonAmandaCurve
  • Regulation and compliance
    Judge's report hammers three ex-Wells Fargo executives

    An administrative law judge has recommended that a trio of onetime Wells executives be ordered to pay a combined $18.5 million in connection with the bank's fake-accounts scandal.

    By Kevin Wack
    Banking Editor
    December 8
    Wells Fargo sign
  • Commercial banking
    U.S. Bank gives mixed update on impact of Union Bank addition

    Executives at the Minneapolis company said Wednesday that they expect earnings-per-share accretion to be higher than they previously anticipated. But their estimate for merger-related expenses also rose.

    Jordan Stutts Author Image
    By Jordan Stutts
    Reporter
    December 7
    U.S. Bank Union Bank.jpg
  • Consumer banking
    Fifth Third's Southeastern expansion effort is making headway, execs say

    After focusing its de novo branching plans on the Carolinas in recent years, the Cincinnati-based bank is ready to shift its attention to Florida and — eventually — to Nashville and Atlanta.

    John Reosti Author Image
    By John Reosti
    Reporter
    December 7
    Fifth Third Bancorp. branch
  • Consumer banking
    Comerica explains rationale for investments in tech, new geographies

    The Dallas-based company is expanding in the Southeast and the Mountain West, and overhauling its digital systems, as part of a plan that executives say will pay off over a two- to five-year period.

    By Frank Gargano
    Data Reporter
    December 7
    Comerica Bank
  • Technology
    Fintech plans to double workforce, add bank partners in 2023

    Houston-based Save, which lets consumers save and invest from the same account, closed on its most recent round of funding last month, led by BNP Paribas and joined by Webster Bank.

    Catherine Leffert Author Image
    By Catherine Leffert
    Reporter
    December 7
    Michael Nelskyla
  • ESG
    Bankers face ESG risk with potential to upend deals, study shows

    Investment bankers working on mergers and acquisitions need to review their due diligence processes to ensure deals aren't upended by an evolving set of ESG risks, according to Berkeley Research Group.

    December 7
    Goldman Sachs Facing SEC Probe Of ESG Funds In Asset Management
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