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Variables unique to the past year, such as the effect of government stimulus, are not fully considered in typical credit scores. For a more complete picture, the industry should accelerate a digital transformation in scoring models.

President Biden said he hasn’t spoken with Federal Reserve Chair Jerome Powell since taking office more than two months ago, citing respect for the central bank’s independence and marking a sharp turn from his predecessor, Donald Trump.

JAM FINTOP Banktech will fund startups that offer services designed for the banking industry. All 66 limited partners are banks.

Digital identity data provider Ekata is launching a merchant onboarding process to help payment service providers, B2B lenders and marketplaces quickly add micro merchants and sole proprietors as customers.

In his annual letter shareholders, JPMorgan Chase CEO Jamie Dimon said banks are facing "enormous competitive threats — from virtually every angle."

The data aggregator, whose planned merger with Visa was called off in January, intends to use the funds to accelerate its global expansion.

The Crypto Council for Innovation wants a voice in how bitcoin is regulated; the #GetBanked public awareness campaign aims to help people without accounts get stimulus checks faster.

The fintech is one of several that have drawn capital to eliminate the challenges of international commerce.

Companies that can pay people quickly and flexibly will have an advantage, says Payslip's Fidelma McGuirk.

Policymakers have scrutinized social disparities in the financial system and banks' climate-change risks. That has led to a new line of attack from Republicans who say agencies such as the Federal Reserve should stay in their lane.