Globalization has dramatically altered the B2B payments landscape, revealing significant trade opportunities for SMEs and transaction services for corporate banks. Yet many banks, weighed down by tight regulation and legacy infrastructure, find themselves ill equipped to service the needs of an increasingly digital-first client base. Download this white paper from a 2016 FinTech Forward company to learn how banks can effectively transform digital processes and realize new revenue opportunities through payments innovation.
After recording a $35.9 million quarterly loss, the online small-business lender said that it plans to reduce its annual expenses by $20 million, cut 11% of its staff and more than double its loan-loss provision from a year earlier.
Banks are woefully unprepared to face potential cybersecurity threats stemming from third-party technology providers, according to a report issued Wednesday by the Federal Deposit Insurance Corp.’s independent watchdog.