Fintech

The London-based neobank plans to invest $500 million in the U.S. over the next few years amid stiff competition from fintechs, other neobanks and legacy banks.

Fintechs and the technology behind cryptocurrency are becoming popular, putting trillions in transaction value at risk for banks, according to Accenture.

With an application for a U.S. bank charter, the global super app provider aims to expand its offerings and compete with established domestic challengers.

By acquiring the ATM firm, Brink's hopes to expand in retail commerce. Plus, Revolut issues a card to compete with Amex; Standard Chartered has a new payments chief; and more in American Banker's global payments and fintech roundup.

Fifty years of sanctions has forced the Middle Eastern country to develop its own isolated financial system. But money has still found a way to move in and out of the country.

Recent reports from JD Power suggest that more customers choose payment alternatives to avoid surcharge fees.

Federal Reserve Gov. Lisa Cook said AI could boost productivity, but warned the transition may raise unemployment and force difficult tradeoffs between inflation and jobs.

Federal Reserve Bank of Chicago President Austan Goolsbee said the central bank should focus on getting inflation to its 2% target before making any additional cuts to short-term interest rates.

Credit One Bank agreed to a $10.2 million settlement after almost five years of litigation with a group of California district attorneys. The suit alleged that the bank's vendors made harassing phone calls to borrowers.

Federal Reserve Gov. Christopher Waller said during an appearance Monday his decision on whether or not to support a cut to short-term interest rates depends on labor market indicators.