Financial institutions (FIs) continue to confront one of the most significant upheavals in the banking industry’s history as they continue to grapple with the pandemic and its ensuing economic downturn. Digital banking has become many consumers’ primary avenue for bank interaction, with 80 percent of...
In today’s top news in digital-first banking, Wells Fargo announced that it has made a deal to sell its asset management business for $2.1 billion, while a Federal Deposit Insurance Corporation (FDIC) report discovered that bank profits fell 36.5 percent in 2020. Plus, Alkami Technology...
In today’s top news in digital-first banking, Brex has filed to open an industrial bank in Utah, while MYBank is getting in on China’s moves toward launching a cryptocurrency. Plus, LINE Corp. and Mizuho Financial Group have agreed to strengthen their investment in LINE Bank...
LINE Corp. and Mizuho Financial Group have agreed to increase their investment in LINE Bank Preparatory Co. and to make changes to its management structure as part of creating a new bank in Japan. The companies said in a press release that the goal is to...
In today’s top digital-first banking news, Revolut Business is launching quick-response (QR) codes to facilitate socially distanced payments, while SeedFi has notched $65 million in funding. Plus, an official with the Boston Fed anticipates the economy gaining momentum in the second half of this year....
In today’s top digital-first banking news, Carol Nelson will head up American expansion for Monzo as its first female chief executive, while Figure is launching a special purpose acquisition company (SPAC) to raise $250 million. Plus, Opportunity Financial (OppFi) has entered into an agreement with...
Stockholm-based Northmill Bank has pulled in 250 million in Swedish krona (about $30 million). The financial technology company (FinTech) said in a press release that “the new capital will be used for continued geographical expansion and to accelerate the development of new products.” The FinTech...
Going global isn’t as easy as setting up an eCommerce site and waiting for the orders to come in. It requires compliant and complex banking relationships. As Monneo Managing Director Lilia Metodieva told PYMNTS, virtual IBANs can facilitate the secure global movement of money.
It’s hard to find an executive in the financial service and commerce business who isn’t convinced that the digital-first economy is here to stay. But what isn’t so clear as the new year rolls out is that the digital-first economy has become the main competitive...
