PayThink is focused on the rapidly changing, inter-connected markets of debit, credit, mobile, prepaid and digital payments. As the payments industry strives for faster innovation to launch new products ahead of competitors, PayThink provides insight from market participants and innovators leading the way. PayThink is designed for executives looking to stay relevant in the ever-changing payments ecosystem by finding and honing their competitive edge.
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Technology that was seen as best-in-class 10 years ago is practically table stakes for banks today and does not differentiate one bank from another. Branches do.
January 27
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Wells Fargo kept Chief Executive Charlie Scharf's pay at $24.5 million for 2022, a year in which both profit and stock tumbled and the bank continued to grapple with the fallout from a raft of scandals.
January 27
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It is rare for banks, especially large ones, to receive unsatisfactory ratings in their Community Reinvestment Act examinations. The San Antonio bank has now done it twice in a row.
January 26
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While not committing to any specific strategy, the card network may find opportunity in the merger and acquisition market, CEO Al Kelly said.
January 26
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The San Antonio bank reported an 89% spike in net income, aided by rising interest rates and the company's expansion into Dallas and Houston.
January 26
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Jamie Hargrove, the founder of Hargrove Firm LLP, is an attorney and certified public accountant with nearly four decades of estate planning experience. He is also co-founder of NetLaw, a technology platform that powers Hargrove Firm's online estate planning services. Previously, he led a 160-attorney estate and trust practice for a Kentucky-based law firm.
January 26
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The company formerly known as Alliance Data Systems produced strong fourth-quarter sales, but was unable to report a profit due to factors such larger loan-loss reserves for its acquisition of the American Automobile Association's credit card portfolio.
January 26
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North Carolina-based First Citizens blamed a rise in problem credit on certain office loans that it acquired in the CIT Group merger. Connecticut-based Webster also expressed caution about the segment, which has been impacted by remote work policies.
January 26
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As deposits grow scarcer, the Stamford, Connecticut-based bank's acquisition of interLINK earlier this month promises to yield billions of dollars in core funding it can put to work paying down borrowings or purchasing securities, CEO John Ciulla says.
January 26
