Fintech

Net income soared 32% thanks to higher interest rates that contributed to a wider net interest margin and its most interest income in a quarter in years.

Financial crisis-era rebel Simple is turning to payments innovation — along with its traditional combativeness on fees and rates — to stay relevant against the many fintechs lurking at the edges of the banking world.

Banks are still in their experimental phase of using virtual and augmented reality to interact with customers, and the key to their success will be embracing the technology's social nature. And sometimes that means making an app designed for non-customers.

Citigroup spent years reeling in customers with promotional rates, many of which have expired or soon will. The bank thinks it can keep a large number of those customers and make more money off of them.

Cross-border e-commerce is seeing explosive growth, driving a race among payment providers and acquirers to equip online sellers with the technology to accept any kind of payment in virtually any region. Credit and debit cards are the dominant payment type North American merchants accept, but are much less common elsewhere.

The payments industry stood out as an active market for mergers and acquisitions during the first three quarters of 2018 with a 33 percent increase in transactions over the same period last year.

American Express is launching Early Pay, a digital financing service that allows large U.S. companies and their suppliers to benefit from discounted bill payments.

While businesses' ability to transact internationally has expanded, the act of settling payments has gotten more complex, expensive and time-consuming. That means opportunity for companies that can provide solutions.

Augusta VAH Federal Credit Union in Augusta, Ga. has announced plans to merge into SRP FCU, across the state line in nearby North Augusta, S.C.

The Montana company will spend $200 million to buy Idaho Independent and Community 1st Bank.