Recognizing that many of the region's consumers are choosing startups, companies like Citigroup, JPMorgan Chase, Goldman Sachs, Santander and Scotiabank are taking stakes in nascent payment providers.

Working with Bumped, TAB Bank is offering customers “cash back” as fractional shares of popular retailers.

The "super app," which incorporates shopping, savings and other offerings, was well received by PayPal's users, but inflation and supply chain issues are likely to weigh on spending through the first half of this year, CEO Dan Schulman said.

The online lender and challenger bank is offering customers a way to shop and receive cashback rewards at 20,000 merchants from its app.

The bank technology provider Amount has acquired Linear Financial Technologies to supplement its consumer and buy now/pay later offerings with digital small-business loans.

In her last week in office, the Federal Deposit Insurance Corp. chair discusses why she worries about the dwindling number of community banks and minority-owned banks, why she has made serving low-income communities a priority during her tenure, and what she might do next.

The online-only bank sees opportunities to boost revenue and lower its customer acquisition costs by providing more behind-the-scenes services to fintechs offering financial products.

The transfers are among the fastest and least expensive in the region. The quicker service will please users but the fintech faces a challenge in trying to differentiate itself from rivals, analysts said.

The retailer is funding a challenger bank called One that would be formed from the combination of several fintech firms. The startup would have a strong product set and cash position but could struggle to stand out in a crowded neobank field.

Esusu, a financial technology company that aims to help bridge the racial wealth gap by reporting rent payments to credit agencies, has become one of only a few Black-owned startups to reach a valuation of $1 billion after closing a Series B round led by SoftBank Vision Fund 2.