Fintech

The amount of money parked at a major Federal Reserve facility climbed to yet another all-time high, surpassing the $2 trillion milestone for the first time, as investors struggled to find places to invest their cash in the short term.  

The Swedish buy now/pay later company Klarna Bank saw its borrowing costs rise to their highest level on record as rising rates hit the company’s debt and equity valuation. 

Strong spending trends, combined with a reduction in card repayment rates, contributed to 17% loan growth last month. The data suggests that rising fears of a recession aren’t yet changing consumers’ behavior.

Perennial No. 1 Oregon Bancorp, which operates as Willamette Valley Bank, boasts strong sources of fee and interest income, sound underwriting and vibrant geographic markets. It’s a formula shared by many on American Banker's list of the 200 highest-performing publicly traded small banks.

NatWest Group is considering launching a separate digital lender for small businesses in the U.K. to find a new avenue of growth for the bank.

The Federal Reserve’s forceful moves to fight inflation are resetting expectations about how quickly banks will need to start raising their deposit rates.

The credit card provider is one of only a few fintechs around the world to have female CTO.

Star Alliance — the largest of the three global airline groups — is planning to offer a co-branded credit card that will allow cardholders to redeem points across all 26 members.

The buy now/pay later provider Klarna Bank is pushing further into the retail industry by offering traditional stores a platform to stream and video-chat with online customers.

Deserve, a credit card technology startup, said it secured a $250 million credit facility from banks led by Goldman Sachs Group.