Merchant

Net income was boosted by a $1.6 billion release of loan-loss reserves.

The fintechs Nymbus and Segmint teamed up to translate the gibberish on bank statements into actionable data.

When it was launched a year ago, the program was criticized for glitches and a focus on larger borrowers. Since then technical improvements have been made, smaller loans have been prioritized, and other changes favored by lenders have been implemented.

The location will replace traditional menus with self-serve kiosks and feature order-ahead pickup cubbies, allowing customers to walk in, grab their food and go.

While U.S. regulators pressure Visa and Mastercard, there's ample choice, particularly when compared to the national debit rails that exist in most of the world, says Intrepid Ventures' Eric Grover.

Federal Reserve Chair Jerome Powell said the central bank is involved in a large-scale research and development project on the digital dollar, and that questions of whether adopting such a currency would provide a public benefit have yet to be resolved.

Walmart, Amazon, Facebook, Apple and Google are just a few of the non-financial companies that are using scale and innovation to compete in financial services.

The Baltimore community bank is experimenting with fee-based checking accounts that bundle cellphone protection, roadside assistance and other perks with an app that makes such services easier to use. Early returns are promising.

Other fintechs’ rush to become banks is being driven by investors seeking “crazy returns," says CEO Dan Price. But he acknowledged that at some point Gravity may need a charter of its own to remain competitive.

Lending options at the physical point of sale are going to play a significant role in how consumers take part in a post-pandemic economic recovery. But as with many payment methods, they risk leaving out the underbanked.