Investments

Galileo Processing has created a digital banking product that seeks to provide wealth managers with the offering they generally lack: an in-house savings account that pays competitive rates.

A German fintech firm that counts PayPal Holdings Inc. among its investors wants to expand its internet platform for bank-savings products to the U.S.

Although higher corporate debt could hurt the economy, Federal Reserve Chair Jerome Powell argued changes made since the last crisis will guard against a meltdown.

A year after trying to save faltering payday lender Wonga, Balderton Capital is investing in the other side of the model by leading a $19 million Series A funding round in Wagestream, a U.K. startup that provides flexible payroll technology to avoid payday loans.

The comptroller, now a year and a half on the job, discusses his attempts to revamp the supervision process for national banks and make the agency run more efficiently.

The Pittsburgh bank says it is selling the assets to Federated Investors to focus its PNC Capital Advisors unit on providing outsourced services.

The investments that Rana Yared's team makes in startups help Goldman Sachs in two ways: Besides earning a profit, the company also uses a lot of the technology the startups develop as part of its internal digital transformation.

The venture capital firm New Enterprise Associates has led a $200 million funding round in Divvy, a business payments and expense management platform provider.

The company, which has invested $3 million in fintech in recent years, said the value of the portfolio is nearing $14 million.

Built Technologies will use the money to invest in research and development while it builds out its client base.

On Dec. 31, 2018. Dollars in thousands.

Wall Street moves to compete with the low-fee financial services giant; activist investor has an uphill climb for a seat at this week’s annual meeting.

The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter.

An industry working group might seek legislation to eliminate the need for investor consent in the shift to a new benchmark interest rate. But any legislative fix is almost certain to be challenged because choosing an alternative to Libor will inevitably favor one party in a transaction over another.

Wells Fargo is once again flirting with something that no major U.S. bank has done in a decade: have a dividend yield north of 4%. Don't expect a celebration.

The investment platform, which is in the early stages of development, will be part of Marcus, the consumer bank Goldman launched in 2016.

The company could use its share of proceeds from the IPO to repay debt and pursue bank acquisitions.

The initial public offering of payment-service company Nexi SpA raised 2.01 billion euros ($2.3 billion), making it the biggest listing in Europe so far this year and the third major IPO of a payment-processing institution in the region in less than a year.

Over time, Pinterest has built a powerful e-commerce and payments engine underneath its social network site. This enables any Pinterest post to double as a portal for commerce — one that is especially powerful on mobile.

B. Riley FBR initiated equity coverage of the mortgage giant, citing housing finance reform proposals that could result in Fannie and Freddie Mac being released from conservatorship.