Fintech

Fearful of being the last one standing, banks and credit unions of all sizes will become more aggressive about real-time payments — or risk getting left in the past.

The New York bank said Wednesday that its first-ever credit card has brought in nearly $2 billion of loans in less than six months.

Mastercard is partnering with issuer processor EML and technology startup CleverCards to allow any business to send digital Mastercard payment cards directly to an employee’s or customer’s mobile wallet by SMS/text, email or any messaging app such as WhatsApp.

NatWest is partnering with prepaid card and business expense management provider Soldo to provide loans and working capital directly to Soldo's prepaid card users.

The credit union has returned payouts of $5 million or more for each of the last eight years and has issued a dividend of some sort every year since the mid-1990s.

Brian Moynihan said banks must be mindful of pricing and risk as they contend with lower yields on loans and securities.

HSBC has launched its Treasury APIs to offer treasurers easier access to payment and account services, as well as to initiate the transfer of funds for B2B payments.

The specific impetus for the Federal Trade Commission's inquiry into Visa and Mastercard's debit transaction routing processes is not entirely clear, but it likely stems from the effect that advanced payments technology has had on Durbin amendment compliance.

The banking giant is counting on continued growth in cards, deposits and digital accounts to drive returns higher in 2020.

The country's biggest bank is leaning more on fee income to offset rate pressures, expanding in selected U.S. cities and laying the groundwork for operations in China that CEO Jamie Dimon hopes will endure “for 100 years.”