Fintech

The Society for Worldwide Interbank Financial Telecommunication, or Swift, has named David Scola, a former Barclays exec, its new head of North America operations.

Free checking peaked nearly a decade ago, but more than half of all credit unions continue to offer it, despite new players fighting for that business.

Canada’s credit unions have been losing out to the country’s banks in terms of business banking market share, and have struggled to keep up with the banks’ capacity for technological innovation. Central 1 wants to redress this imbalance in the credit unions’ ability to compete with the banks.

Wirecard is expanding its reach in Brazil by enabling small businesses and to send funds and pay bills through its digital platform, with plans to add card payments this year.

Small and midsize banks are most at risk as commercial loan volume fails to ignite; the cutbacks are partly the result of lower origination volume.

When Chris Winship, partner of FTV Capital, paid $35 million in private equity funds for a slice of the digital gift card player Tango Card in May 2018, he did so with the expectation that he would quickly find a buyer.

The Texas bank, which partners with the U.S. Treasury to dispense federal benefits via prepaid cards, is alleged to have dropped the ball as hundreds of cardholders say their money was forwarded to fraudsters posing as them.

Celebrating the winner of the 2018 Credit Union Chili Challenge, and a host of other ways credit unions are taking part in community events and making a difference.

Larger community banks are favoring bigger targets — or relying more on organic growth — to expand.

It’s great for bragging rights, but when banks make large investments in technology they run the risk of irritating investors who think they’re spending too much money for too little payback.