Fintech

While the intermediaries that record and verify transactions such as payments are removed, the remaining parties may not be ready for shifting responsibilities to guarantee transactions, writes Sebastian Venderzeil, a director at Cornerstone.

Petal has received a $13 million funding round from Valar Ventures, a New York-based venture capital fund that specializes in financial technology, to use artificial intelligence to fill holes in legacy risk vetting.

The Colorado-based credit union will disburse payments to members all year long.

Credit unions in the Gem State had a $638 million economic impact, according to a newly released study.

Outstandings top 2008 high mark, prompting some concerns; big banks are expected to take $31 billion in writeoffs from fourth quarter earnings due to tax reform.

The McLean, Va., company said that the personnel moves were unrelated to either its financial performance or its risk performance.

The payments company will pay $321 million for Crestmark Bank, a commercial lender that focuses on asset-based lending, equipment finance and government-guaranteed loans.

The iBelong Campaign in the Keystone State marks two milestones: its 10th anniversary and seeing CU membership in Pennsylvania surpass 4 million.

Alliance Data Systems is developing a co-branded credit card and a private-label credit card program with Sweden-based Ikea’s U.S. furniture store operations.

The late-payment rate on loans frequently used to consolidate credit card debt hit its highest level in more than four years.