Capital markets

Alliance Data plans to make Bread’s buy now, pay later options available to credit card-issuing merchant clients.

The company's Silicon Valley Bank unit reduced its loan-loss cushion by $52 million. Private-equity and VC clients have warmed to the practice of doing deals virtually, which increases lending opportunities, SVB executives said.

Mexican payments startup Klar has raised $15 million in a Series A round in an effort to challenge traditional banks by expanding access to debit cards and credit lines.

Visa on Monday made an investment in Global Processing Services, which powers the payment rails for several challenger banks and fintechs. It's similar to a January investment Mastercard made in Marqeta, an open API card issuing and processing platform.

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses.

Morgan Stanley’s $7 billion purchase of Eaton Vance marks the latest wager that finding a big partner is critical to survival in the asset management industry.

New York-based earned wage access (EWA) startup Clair has raised $4.5 million in a seed fundraising round to target the small-business market.

Tipalti, whose platform supports cross-border B2B supplier payments, has raised $150 million in its latest funding round, bringing the total it’s raised from outside investors to $280 million.

Looking to expand beyond its current role in providing compliant digital payment options for legal cannabis businesses, AeroPay has caught the attention of fintech investors.

Atlanta-based fintech Greenlight has raised $215 million in a Series C round and announced that it has achieved a valuation of $1.2 billion, giving it unicorn status.