The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
State regulator says blockchain tools are key to detecting money laundering and sanctions violations.
The Bank of England may cap ownership, drawing ire from crypto groups that claim that will hinder innovation.
Visa is introducing a premium service to the Middle East, and Lloyds Banking says its cash protection product is showing results. Plus, Brex teams up with Doordash and more in the American Banker global payments and fintech roundup.
FinTech Forward, a collaboration of American Banker and BAI, brings together the research, media, and event capabilities of banking's top two professional information and education organizations.
-
The Minneapolis-based bank has rolled out payroll and bill pay features four months after unveiling a service to monitor card spending. An accounts receivable solution is on deck.
September 15
-
An alleged scandal involving the LA Clippers is just the latest reputation hit to the beleaguered fintech.
September 15
-
-
The AI-powered auto lender is the latest fintech to debut an IPO in recent months, even as a different auto lender filed for bankruptcy this week.
September 12
-
Pious claims about the importance of free data are a smoke screen. What the fintech industry really wants is to stick banks with the bill for organizing, securing and delivering customer data on their behalf.
September 12
-
The cross-border transfer platform is broadening its business model with a subscription-based membership and products like a digital wallet and cash advances.
September 11
-
Block's transfer service partnered with fundraising and donor management platform Givebutter for philanthropic payments in an effort to capture even more young consumers' payment volume.
September 11
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.
In the age of big data, banks should be king. After all, which industry knows more about people and how they behave than the holders of deposits? But all that data is useless without leaders who know how to effectively analyze it. American Banker recently polled data and analytics chiefs at banks about the trials and tribulations of big data and the art of finding insightful information. Here are some of their responses.
The era of banks and fintech companies cozying up to each other is in full bloom. Fintechs realize they can better disrupt the industry from within, while banks are looking for partners to help them navigate the digital world. Here's a look at how banks worldwide are buying, investing in and in some cases lending to fintech firms.