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When Fiserv purchased First Data in 2019, it was part of an industrywide push to combine bank and merchant technology under one roof. A year later, a key piece of First Data’s technology — and its top executive — have become Fiserv’s path through the coronavirus crisis.
May 8
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Institutions need to think about revenue streams and portfolio diversification as the coronavirus affects much of the U.S. economy.
May 8
Alliant Credit Union -
The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account sudden deterioration in the economy brought on by the coronavirus pandemic.
May 8
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Stilt, which had already been offering unsecured loans to newcomers to the U.S., is working with technology and banking partners to offer them deposit accounts and debit cards.
May 8
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Members of West York Area School District Employees Federal Credit Union approved the merger into First Capital, and the deal is expected to close this summer.
May 8
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The pandemic has fostered the distribution of even more bad information on social media. Banks and other companies need to step up to solve the problem — including support of tougher legal restrictions on internet content.
May 8
Sustainability Center of BNP Paribas Asset Management -
Thomas Lopp cited health reasons for leaving Sterling Bancorp less than six months after becoming CEO. Sterling has been dealing with revenue issues after shutting down its biggest lending program over underwriting concerns.
May 8 -
Ronald Belle will lead the Rome, N.Y.-based institution after Mark Pfisterer retires.
May 8
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Trends in China such as mobile payments, omnichannel shopping and social commerce show us what a post-coronavirus world could look like for brands and retailers in the U.S., says Azoya International's Franklin Chu.
May 8
Azoya International -
Organizers representing five tribes aim to create a financial institution to serve their members.
May 8 -
A mix of consumer debt and economic anxiety is shining a light on firms that offer alternatives to revolving credit. This, in turn, creates a chance to further tie financing directly to checkout.
May 8
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The Independent Community Bankers of America accused the National Credit Union Administration of using the coronavirus outbreak to usher in additional changes without the normal amount of scrutiny.
May 8
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Mortgage rates are at record lows, but borrowers hoping to take advantage are running into the toughest loan-approval standards in years.
May 8
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JetBlue Airways Corp. sold loyalty points to Barclays Plc for $150 million, making the carrier among the first in the U.S. to use the method to raise cash as the coronavirus pandemic all but extinguishes demand for travel.
May 8 -
The SBA's long-standing Economic Injury Disaster Loan program has been so overwhelmed with applications that the agency has capped loan sizes; ECB finding few takers for a program in which it pays banks to make business loans.
May 8
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One of the selling points behind multi-account payment cards is the ability to shift spending on the fly or shortly after shopping, such as to fund a recent purchase with loyalty points. During the pandemic, this feature may become a key financial management tool.
May 8
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Consumers like having different payment options, and not just a few, says RS2 North America's Daniela Mielke.
May 8
RS2 of North America -
Up to 12% of loans under the $660 billion small-business rescue program could be tied to misleading or completely phony applications, fueling concerns about lenders' potential liability.
May 7
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Bisignano, who engineered a technology-driven recovery at First Data before it was acquired by Fiserv last year, will take Fiserv's top job as the company forges its coronavirus strategy.
May 7
