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Market Intelligence:
AI
Payments
Research
  • Payments
    How PayPal, GoDaddy are transforming tax payments

    PayPal is making it possible to "Venmo" an income tax payment, while GoDaddy is taking aim at simplifying sales tax calculations for its merchant clients.

    By John Adams
    Executive Editor, Payments
    March 28
    GoDaddy homepage
  • Technology
    Banks fight for tech talent as competitors swirl

    M&T Bank, Citizens Financial Group and KeyCorp are teaching staffers new skills and pitching themselves as innovative and fun places to work.

    By Miriam Cross
    Tech Reporter
    March 25
    Mike Wisler, chief information officer of M&T Bank
  • BankThink Bank leaders need to be mindful of own employees' financial struggles

    Most executives are keenly aware of the hardships customers face, but do they realize that many of their workers are also living paycheck to paycheck?

    March 25
    Dave Martin
    Dave Martin
  • Community banking
    Bank of Bird-in-Hand thrives in Amish Country with novel outreach efforts

    The Lancaster County, Pennsylvania, institution uses a fleet of traveling branches to reach far-flung customers who largely eschew modern technology.

    By Jim Dobbs
    Deputy Editor, Community Banks
    March 25
    Bank of Bird-in-Hand traveling branch
  • Payments
    Buy now/pay later matchmaker raises $44 million

    ChargeAfter doesn't offer installment loans. Instead, it's tapping into the BNPL craze by bringing together the banks and merchants that are active in the market.

    By Kate Fitzgerald
    Senior Editor, Payments
    March 25
    Meidad Sharon, ChargeAfter’s founder and CEO
  • Credit unions
    No Social Security number? No problem: ITIN loans fill a gap.

    Banks and credit unions that use Individual Taxpayer Identification Numbers to onboard customers without Social Security numbers are seeing sizable growth in loans and deposits from people who might otherwise be unbanked.

    By Robin Arnfield
    March 24
    W-7 ITIN application form
  • Politics and policy
    Waters requests 'detailed information' on U.S. banks' exit from Russia

    House Financial Services Committee Chair Maxine Waters has asked more than 30 trade associations, including banking groups, to describe how their members — company by company — have limited or ended their dealings in Russia since its invasion of Ukraine.

    Brendan Pederson Author Image
    By Brendan Pedersen
    Reporter
    March 24
    House Financial Services Chairwoman Maxine Waters
  • Regional banks
    Regional banks join forces to tackle climate change

    Zions Bancorp. and Webster Financial are among the inaugural members of the Risk Management Association’s climate-risk consortium for regional institutions. Like its large-bank counterpart, the group will work with banks to help guide the economy's transition to a low-carbon future.

    By Allissa Kline
    Reporter
    March 23
    Webster Bank is an inaugural member of the RMA Regional Bank Climate Risk Consortium.
  • Industry News
    Why Truist is working on a new community investment pledge

    The North Carolina bank’s earlier $60 billion plan, which was tied to the BB&T-SunTrust merger, is set to expire this year. Its new efforts are a sign that such deals aren't always one-off arrangements meant to grease the rails for an acquisition.

    By Jon Prior
    Staff Writer
    March 23
    Truist Financial 4Q Adjusted EPS Beats Estimates
  • Community banking
    Virginia's oldest bank enters a new market

    Burke & Herbert, which is based in Alexandria and has been in operation since 1852, has joined a long list of banks planting their flags in Richmond, where the overall deposit market has grown 32% in just five years.

    John Reosti Author Image
    By John Reosti
    Reporter
    March 23
    Burke & Herbert
  • Payments
    Alliance Data becomes Bread, taking buy now/pay later unit's name

    The change in branding reflects a shift in priorities for the retail credit card issuer, which saw several clients face bankruptcy during the pandemic.

    By Kate Fitzgerald
    Senior Editor, Payments
    March 23
    Bread
  • Commercial banking
    Fed approves Citizens' acquisition of New Jersey-based Investors

    The Federal Reserve's unanimous approval is a win for the Rhode Island company, though it will have have to take part in an additional round of stress tests in 2023.

    By Jon Prior
    Staff Writer
    March 22
    CITIZENS-INVESTORS-BLOOMBERG-03-22-22
  • Industry News
    JPMorgan hires diversity chief from Wells Fargo

    David Miree will become global head of diversity, equity and inclusion for the New York megabank. He will succeed Brian Lamb, who will move into a new role in the firm’s commercial banking business.

    By Allissa Kline
    Reporter
    March 22
  • Credit unions
    How First Tech Fed avoids being overshadowed in Silicon Valley

    Though it's one of the largest U.S. credit unions at $15 billion of assets, the organization still works with a number of fintechs to live up to its name.

    By Robin Arnfield
    March 22
    First Tech FCU signage
  • Payments
    Can Russia use China UnionPay to replace banned U.S. cards?

    Russian banks are reportedly courting the Chinese payment network to overcome the loss of Visa and Mastercard. The strategy would test China's willingness to provoke a response from the international community.

    By John Adams
    Executive Editor, Payments
    March 22
    UnionPay booth
  • Politics and policy
    How Philadelphia is laying the groundwork for a public bank

    The City Council recently voted 15-1 to establish a financial authority that would provide credit enhancements on loans to underserved borrowers. Public banking advocates say the effort is both an interim step for Philadelphia and a test case for other cities.

    By Allissa Kline
    Reporter
    March 21
  • Payments
    St. Jude using crypto to reach younger donors

    The children's research hospital is tapping into the fast-growing market for digital currency donations and NFT sales to appeal to millennials, who are more likely to have crypto investments.

    By John Adams
    Executive Editor, Payments
    March 21
    St. Jude's children's research hospital
  • Payments
    How Mastercard is linking banks to BNPL

    As Mastercard Installments nears launch, the card network is lining up tech partners to connect issuers to its buy now/pay later ecosystem.

    By Kate Fitzgerald
    Senior Editor, Payments
    March 21
    Mastercard318BL
  • Commercial banking
    BNY Mellon joins other U.S. banks pulling back in Russia

    In response to the war in Ukraine, the custody bank is no longer pursuing new business in Russia. Citigroup, JPMorgan Chase and Goldman Sachs have all announced similar moves.

    By Allissa Kline
    Reporter
    March 18
  • Consumer lending
    How buy now/pay later services are boosting American credit card debt

    Nearly a quarter of respondents in a recent Credit Karma survey said that their total debt increased after using “buy now, pay later” services, which allow users to pay off purchases in installments over a few weeks.

    March 17
    Klarna app
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