Mobile-first bank Moven has signed a memorandum of understanding (MoU) with financial services provider SBI Group, the Japanese owner of SoftBank. According to a report in The American Banker, SBI will receive one seat on Moven’s six-member board, and the companies will create a joint venture in...
On the face of it, China’s announcement that it would open its financial markets to increased ownership by foreign companies seems a sea change. But then again, refocus a bit and the waves look like ripples. The facts are thus: Earlier this month, Finance Minister...
Will China’s invitation get the party started? Put a different way: If you open a country’s financial markets, will the (foreign) banks bring the capital? News came last week that China offered up plans to let outside investors into its markets — allowing for stakes big...
Call it the “opening of China,” redux. China has taken, what The Wall Street Journal termed, “a major step” in boosting global access to its financial sector. Through a series of announcements from the government, there has been some lifting of rules governing foreign ownership of...
November 23, 2017
On the face of it, China’s announcement that it would open its financial markets to increased ownership by foreign companies seems a sea change. But then again, refocus a bit and the waves look like ripples. The facts are thus: Earlier this month, Finance Minister Zhu Guangyao said foreign stakes in financial companies can increase […]
May 09, 2019
Bank of America Merchant Services (BAMS) is considering bringing its payment processing completely in-house, potentially scrapping a joint venture with First Data Corp., the payments company. According to a report in the Wall Street Journal, citing people familiar with the matter, BAMS wants to go it alone so it has more control, aiming to capitalize […]
February 01, 2018
Mobile-first bank Moven has signed a memorandum of understanding (MoU) with financial services provider SBI Group, the Japanese owner of SoftBank. According to a report in The American Banker, SBI will...
November 17, 2016
In the continuing movement of Volkswagen to embrace technology to advance autos — from electric vehicles to digital functionality — the automaker is in talks with Chinese companies, exploring joint...
