Form3 completed a $60 million Series C extension and said it will use the new funding to develop new products and services and support the growth of its cloud-native account-to-account (A2A) platform in the United Kingdom, Europe and the United States. The company’s newest investor,...
Bounti has come out of stealth and announced it raised $16 million in seed funding for its artificial intelligence (AI) teammate platform for sales, marketing and customer success teams. The company’s platform is designed to perform repetitive, non-revenue generating work that would otherwise be done by these...
Navient is exiting the federal student loan business as a regulator prepares to fine it $120 million. The company, formerly known as Sallie Mae, was sued in 2017 by the Consumer Financial Protection Bureau (CFPB) over its lending practices. Now, the regulator has filed an...
A new report suggests Americans will slow their holiday spending this year compared to 2023. The annual holiday retail forecast from consulting firm Deloitte, released Thursday (Sept. 12), projects that holiday retail sales for 2024 will increase between 2.3% and 3.3%, to $1.58 trillion to $1.59 trillion between...
Dutch neobank Bunq is reportedly launching a hiring spree as it aims to expand. The company’s chief executive told CNBC in a report posted Thursday (Sept. 13) that Bunq plans to expand its staffing levels by 72% this year, from 427 employees to 735, as it prepares to move...
The U.S. housing market has been in a state of gridlock for the past few years. The result is the cycle currently defining today’s landscape, where homeowners feel locked in, unwilling to sell and give up their favorable mortgage rates, while buyers are deterred by...
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...
Earlier this week, FinCEN reported that mail theft-related check fraud amounted to more than $688 million in a recent six-month period. The bulk of the reports were filed by banks, to the tune of 88% of all reports by filing. As to the costs of...
