Fintech

Black-owned OneUnited is getting grief for its depiction of the abolitionist on a debit card; the bank plans $4.5 billion in cost cuts, with 35,000 jobs cut.

A joint venture of Belgian banks and the national postal service has hired Diebold Nixdorf to manage ATMs and update the fleet to accommodate modern cash usage.

A 2019 report from the Federal Trade Commission shows consumer losses to “romance scams” rose more than 300% between 2015 and 2018. Credit union leaders say the real numbers may be much worse.

Gulf Power Company Employees CU will merge into Tallahassee-based FSU Credit Union later this year, pending regulatory and member approval.

Trish Burgess, who helped lead Apple Card and Apple Pay, will lead P2P payments at Banco Santander, which is spending $22 billion on digital projects over the next four years.

It can be hard to spot insider fraud, duplicate invoices and service glitches by hand, says AppZen's Anant Kale.

Ken Montgomery, who is heading up the Federal Reserve's faster payments network, says the agency is taking an incremental approach to launching the service.

To address immediate market demand but allow time for the project to be done right, the official leading implementation of FedNow says the central bank envisions an initial release in 2023 or 2024 followed by subsequent updates.

The fintech, which translates foreign credit reports to help immigrants get loans, says it has raised millions from venture capital firms and celebrities like Alex Rodriguez and U2's The Edge because its product addresses important economic and social needs.

The Radcliff, Ky.-based credit union wants to serve more Kentuckians and is hoping a name change will help achieve that goal.