Finance

Fintechs providing installment loans are attracting significant funding from investors who see opportunities in developed economies for consumer financing products, which are already well established in emerging markets.

The card builds on Mastercard’s goal of expanding products for underbanked consumers in sub-Saharan Africa.

The bank helped raise $25 million for the fintech because of its potential to bring banks and nonbanks together in a virtual marketplace.

Goldman Sachs Group Inc. is making another bet on a Latin American financial-technology startup, providing a secured credit facility of as much as $100 million to Mexico’s Konfio Ltd.

Higher net interest income and securities gains boosted quarterly profit to $62.6 billion, which was 4% higher from a year earlier. But potential trouble signs from lower interest rates may emerge.

A new kind of institution wants to make the interest rate the Federal Reserve pays to its member institutions more widely available, but that could have big implications for monetary policy.

Loans and net income continued to rise while delinquency rates improved. Other major trends continue, including ongoing consolidation amid sustained membership growth.

Pockets of job growth — in technology and compliance as well as from branch openings in new cities — are offsetting some of the dramatic cuts elsewhere at the world’s largest lenders.

A growing number of companies, led by Walmart, are offering payroll advance loans to their workers; Christian Sewing said he will invest 15% of his net earnings in the German bank’s struggling shares.

The case of a pastor wrongly-accused by Wells Fargo has mandatory arbitration back in the spotlight; JPMorgan started buying securities long before talk about rate cuts; more banks are turning to M&A to acquire talent; and more from this week's most-read stories.