Once a cause for concern as possible rivals, fintechs increasingly are now regarded as partners for banks in a range of business activities.
From Amex going head-to-head with Visa and Mastercard in courting fintechs with card perks to Citigroup partnering with IntraFi to launch Yankee Sweep, here are six recent developments in the industry that should have banks on high alert.
Norwegian fintech Vipps' consumers can use iPhones to make digital payments following Apple's settlement with regulators. Klarna gets hit with a money-laundering fine and more in our weekly global payments roundup.
The bank has hired an advisory firm to assess a potential sale, a capital raise or a strategic partnership after a prior merger fell through.
A report by the Federal Deposit Insurance Corp.'s Office of Inspector General revealed deficiencies in the FDIC's preparedness for large bank failures.
In testimony before the Senate Banking Committee Wednesday morning Consumer Financial Protection Bureau Director Rohit Chopra said that he has no plans to resign ahead of President-elect Donald Trump's inauguration, suggesting he will wait to be fired instead.
Workers in the bank's conduct management intake group joined colleagues at 23 Wells Fargo branches in approving a union.
Financial institutions are adopting AI technology into virtually every aspect of the business. Analysts and fintechs share a framework for protecting data and bank reputations.
