For the banks, the urge to merge may get held up by regulators — who’d formerly been using decades-old guidelines by which to judge the merits of those deals. And to steal a line from Prince (at least a bit): No one’s going to party...
Wells Fargo has introduced specialized application programming interfaces (APIs) tailored for its commercial banking clients. “Our new APIs provide clients real-time, on-demand information so they can efficiently and seamlessly manage inventory, supply chain, and payments,” Daniel Pfeiffer, the bank’s head of receivables, trade and inventory finance, said...
Financial Institutions says it’s getting out of the banking-as-a-service (BaaS) business. The bank holding company, owner of Five Star Bank and Courier Capital, announced Monday (Sept. 16) it would begin “an orderly wind down” of its BaaS offerings. CEO Martin Birmingham said the change follows...
As open banking begins to reshape the financial landscape, the promise of enhanced consumer experiences and innovative services looms large. But a PYMNTS Intelligence report, “Can Banks and FinTechs Bridge the Divide to an Open Banking Future?,” created in collaboration with NCR Voyix, shows why the...
Barclays is reportedly having trouble unloading a stake in its U.K. merchant payments unit. That’s according to a report Friday (Sept. 13) by Reuters, which cited sources who say the difficulty is down to differing views on that business’s valuation. Brookfield, which manages more than...
New capital requirements could help Great Britain’s smaller lenders compete in the country’s mortgage market. That’s according to a report published by Reuters on Thursday (Sept. 12), the same day the Bank of England said it would scale back its capital rules. The goal here,...
Open banking, which allows third-party providers to access banking data through secure application programming interfaces (APIs), has gained momentum globally as a means to enhance financial services. Recent U.S. regulatory developments may pave the way for increased adoption, particularly for real-time payments. But a PYMNTS...
Private equity firm EQT is reportedly looking to sell its majority stake in payments processor Banking Circle. EQT is aiming for a deal that would value Banking Circle at more than $2 billion, including debt, Reuters reported Wednesday (Sept. 11), citing unnamed sources. The firm and investment...
Goldman Sachs CEO David Solomon reportedly said Wednesday (Sept. 11) that the bank’s exit from its credit partnership with General Motors is no “messier” than it expected. Solomon’s comments came during an interview on CNBC in which he was asked if the exit was messier than Goldman...
