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The installment loan provider Splitit, which recently raised A$12 million on the Australian Securities Exchange to fund its Asia-Pacific expansion, faces strong competition from Australian incumbents — and the prospect of stiffer regulation.

While many public policy initiatives focus on the 1.7 billion “unbanked,” we rarely hear about the nearly 1 billion people who do have a bank account and a smartphone but have no credit card nor cross-border-enabled debit, writes Eric Rosenthal, managing director of the Americas at Rapyd.

The Salt Lake City company, which connects small-business owners with lenders like JPMorgan and BofA, plans to use the funds to expand its partnerships and customer base.

OceanFirst in New Jersey shuttered more than a third of its branches but says nearly all the customers stuck with the bank because it trained employees to show customers how to go digital.

The vast majority of comment letters to the FDIC support the fintech’s banking venture, in stark contrast to the public outcry over the pre-crisis ILC bids by large retailers.

The agency began seeking comments in December through a "request for information" on how to improve the agency's process for considering new deposit insurance applications.

As robotic process automation expands into day-to-day lending operations, IBM is teaming up with UiPath, a startup that specializes in the new technology.

The bureau wants to further remove the threat of legal liability for firms that test products benefiting consumers, but the attorneys general say the agency cannot provide immunity from state law.

The moves are aimed at beefing up consumer lending and attracting deposits in markets where Citi has no branch presence.

The agency's update is good news for banks digesting data suggesting that nonbanks cut into their share of small-business loans during the partial government shutdown.