Banking

The Cincinnati, Ohio, bank targeted Rize Money due to its "ease of accessibility," according to Fifth Third's head of wholesale payments. The acquisition comes as the $205 billion-asset bank has seen wealth and asset management revenue decline in recent years.

Zest AI and Origence designed a new white-labeled product for institutions that lack the resources to develop a custom platform based on artificial intelligence.

Experts say banks should start stepping up their encryption now, because hackers can steal it now and decrypt it with quantum computing later.

After First Citizens acquired SVB in March, HSBC poached 42 bankers, misusing SVB's confidential, proprietary and trade secret information to execute their scheme, according to a complaint filed Monday in federal court in Northern California.

The $15 a share price represents a 121% premium to where Greenhill's stock traded at the close of Friday, before the deal was announced.

As the Federal Housing Finance Agency considers how to prepare the system for the future, it can keep member liquidity steady while still boosting affordable housing.

The fact that SoftBank, one of the world's most aggressive tech investors, is looking at private credit is more evidence of the market's rapid growth.

Customers of banks that provide small-dollar loans are still turning to higher-cost lenders, according to a recent survey. The significance of the findings has sparked a debate between the payday lending industry and its critics.

The move threatens to upend efforts by the billionaire German Larrea's Grupo Mexico to purchase the retail operations of Banamex, one of the country's oldest banks, from Citigroup.

Louisiana Credit Union League names new CEO, scammer who helped criminals pose as bankers jailed for 13 years, Jack Dorsey leads funding round for bitcoin voucher company and more in this week's banking news roundup.

Lazard posted a surprise loss for the first quarter and in April announced plans to reduce its workforce by 10% this year, predicting a slowdown in M&A advisory business will last through 2023.

Artificial intelligence can help cut bias out of credit models. The Consumer Financial Protection Bureau should make it easier for lenders to adopt it.

After the departure of a key Small Business Administration official, lawmakers from both parties are calling on the SBA's chief to delay rules that could open the agency's biggest lending program to more nonbanks — or even consider reversing the changes.

Chicago has one of the largest unbanked populations in the country, so United Credit Union rolled out a loan program aimed at those people who would typically use a payday lender.

The West Virginia company says COO Jeffrey Jackson will become chief executive in August instead of January. He will succeed Todd Clossin, who will retire earlier than planned and describes Jackson as "well prepared."

During the pandemic, many banks adopted programs that helped struggling families find stability. Make that a permanent strategy.

The bank's new Long Game app rewards users for saving and dangles the chance to win cash prizes.