JPMorgan, Citi, Wells Fargo, and Bank of America reported double-digit card spending growth but are wary of economic conditions.
Personal banking revenues were strong and loan delinquencies remain low, but banks are stockpiling cash for expected loan losses. Investment banking was battered by slow merger and financing activities.
Apple and Goldman Sachs teamed for the new high-yield savings feature.
Citizens will be able to take out loans up to $30,000. The bank plans to offer even more services at post office locations soon.
As the cost of living rises, the range of different industries accepting BNPL is diversifying.
The coming generational wealth transfer means big changes for advisors.
Venture-capital-backed fintechs raised less cash in Q3, hitting a nine-quarter low.
Share2Pay lets teen shoppers send their shopping carts to their parents to check out, reducing cart abandonment.
Though the technology is still nascent, banks need to prepare now.
In response to market uncertainty, PayPal is pushing further into checkout to grow its in-store traction.
Wall Street’s biggest banks are likely to suffer from the slowdown in M&A, shrinking profits, and could set aside $4.5B to cover bad debt losses.
Colassano noted similarities between TCH’s RTP network pricing and FedNow’s and discussed real-time payment innovations.
The global economic downturn is putting pressure on FIs around the world. In the UK, firms are turning to tech and hiring to weather the storm.
Director Rohit Chopra said he’s looking into issues like P2P payments fraud, which could lead to stricter regulation down the road.
While many US adults report not using cash most weeks, just how much cash you use depends on who you are.
Railsr has become the latest embedded finance firm to raise money, netting $46M.
He wants to create the US version of WeChat. Twitter can help him do this, but there could be regulatory hurdles ahead.
The neobank is reportedly on the verge of a $100M raise ahead of a planned IPO.
The asset manager’s renamed division will be charged with managing critics from the political left and right.
US consumers lost an estimated $440 million in Zelle fraud and scams, and Sen. Elizabeth Warren wants regulators to take action.