Innovation within the financial services and payments space tends to center around two poles: FinTechs, and cryptocurrency. In its newly released 2024 annual report, the U.S. Financial Stability Oversight Council (FSOC) took care to illustrate the risks, as well as the potential benefits, of both...
Who will become Latin America’s dominant digital banking force, MercadoLibre or Nubank? It’s a question posed Tuesday (Dec. 10) in a report by Bloomberg News, which noted that MercadoLibre — which has its roots in the eCommerce world — is increasingly seeking the same turf...
Banks rely on core tech to handle the basics: transactions, deposits, loans and more. But the kicker is that most of these systems were built decades ago. As in 1980, not 2010. Back then, “digital transformation” through the lens of a financial institution (FI) meant...
The Financial Stability Oversight Council (FSOC) said Friday (Dec. 6) that Congress should pass legislation ensuring that relevant agencies have the examination and enforcement powers they need to oversee their regulated entities’ third-party service providers. The FSOC said these relevant agencies include the Federal Housing Finance Agency...
December 11, 2024
Innovation within the financial services and payments space tends to center around two poles: FinTechs, and cryptocurrency. In its newly released 2024 annual report, the U.S. Financial Stability Oversight Council (FSOC) took care to illustrate the risks, as well as the potential benefits, of both sectors as they relate to the traditional banking landscape. The […]
December 06, 2024
The broader tech-heavy NASDAQ was 1.1% higher through the last five sessions, while the Dow hit a record before backing off a bit. But the FinTech IPO Index saw the...
December 02, 2024
The eventual resolution of the key question in the wake of the Synapse bankruptcy — namely, where the money went — will take time. And those seeking answers are turning...
November 26, 2024
A reevaluation of risk management and regulatory oversight is transforming the bank-FinTech partnership model. At the center of this shift is the April collapse of Synapse, a banking-as-a-service (BaaS) provider,...
December 19, 2024
Chime Financial reportedly submitted a confidential filing for an initial public offering (IPO). The FinTech company plans to go public in 2025, though the timing of the IPO has not been finalized and could change, Bloomberg reported Wednesday (Dec. 18), citing unnamed sources. Reached by PYMNTS, Chime declined to comment on the report. The company was […]
December 10, 2024
Who will become Latin America’s dominant digital banking force, MercadoLibre or Nubank? It’s a question posed Tuesday (Dec. 10) in a report by Bloomberg News, which noted that MercadoLibre —...
December 06, 2024
The Financial Stability Oversight Council (FSOC) said Friday (Dec. 6) that Congress should pass legislation ensuring that relevant agencies have the examination and enforcement powers they need to oversee their regulated...
November 18, 2024
The Federal Deposit Insurance Corp. (FDIC) has extended the public comment period for its proposed rule on recordkeeping for banks’ custodial accounts. Previously scheduled to end Dec. 2, the comment...
