Klarna creates global ‘Consumer Council’
Point-of-sale lender Klarna, which has a banking license in Europe and partners with banks in other markets, is creating a new mechanism to acquire feedback as it evolves its products. The “Consumer...
View ArticleMexican digital bank Stori aims to assist the underbanked
Digital bank Stori, which is based in Mexico City, aims to reach customers with minimal access to financial services. Recent research highlights the problems the bank is attempting to solve. According...
View ArticleFIS touts client growth and loyalty partnership with PayPal
The modernization of core banking tools and loyalty point redemption mechanisms are key priorities for banking technology provider FIS. In a fourth-quarter earnings call last week, the Jacksonville,...
View ArticleWith ‘fintech startup mentality,’ MoneyGram launches text payments
MoneyGram is upgrading its digital capabilities beyond international cash pickup services with FastSend, a new feature that allows customers to send money to recipients’ accounts via mobile phone...
View ArticleWhy Peter Thiel’s $3.5B fintech is fleeing Britain
Defying the gloom around the financial services industry in post-Brexit Britain, the U.K. has maintained its edge in fostering the industry’s digital revolution. Lured by friendly regulators, fintechs...
View ArticleTipYo pitches digital tipping for hotel staff
There may no longer be an excuse for stiffing hotel staff who ferry bags to guest rooms. TipYo, an Alexandria, Va.-based payments startup, wants to simplify the tipping process through a method that’s...
View ArticleWorldRemit links with Alipay on one-tap global payments to China
WorldRemit is partnering with Alipay to reduce friction in cross-border payment transactions. The integration allows WorldRemit customers to send money to Chinese recipients by connecting with their...
View ArticleRBC fuses payments and messaging for business clients
Royal Bank of Canada is using digital money transfer service Interac to help corporate clients follow up with their customers on outstanding debts. The bank announced the feature, “Interac e-Transfer:...
View ArticleFacing pressure, HSBC rethinks US strategy
HSBC, a global bank with $2.7 trillion in assets, is blazing a new path for its U.S. business as it cuts $4.5 billion in costs and reallocates capital away from underperforming units. The top-10 global...
View ArticleFiserv dives into cashierless checkout
With the growth of smartphone use and online shopping, merchants are increasingly adding cashierless checkout options. This includes the Amazon Go-style “walk in, walk out” system, along with hybrid...
View ArticleRapyd taps Visa to grow its card-issuing business
Rapyd, a startup that converts international payments, announced a partnership with Visa this week to grow its card-issuing business. “A major opportunity for us, and we’re seeing this around the world...
View ArticleWith CardWorks, Ally gains tools to broaden customer reach
On Tuesday, Ally Financial announced plans to acquire CardWorks, a non-prime card and consumer finance lender, for $2.65 billion, a price that raised eyebrows among some analysts. The deal is subject...
View ArticleWeekly Wrap: Banner week for fintech acquisitions
Welcome to the latest episode of our Weekly Wrap series, for the week ending Friday, Feb. 21, 2020. In this episode, editors discuss the following news developments: Implications from LendingClub’s...
View ArticleIntuit nears deal to buy Credit Karma for $7B: WSJ
Intuit Inc. is close to buying Credit Karma Inc. for about $7 billion in cash and stock deal, the Wall Street Journal reported, citing people familiar with the matter it didn’t identify. The purchase,...
View ArticleEnvestnet executives mum on Yodlee sale, despite revenue pressure
The impact of Visa’s Plaid acquisition for $5.3 billion continues to fuel speculation about the future of data aggregator Yodlee, which Envestnet acquired in 2015 for $590 million. At issue is whether...
View ArticleBrex’s Arthur Levy to speak at Bank Innovation Ignite
Arthur Levy, vice president of business development at Brex, is attending Bank Innovation Ignite in Seattle, which takes place from March 2-3. He is speaking on a panel titled “How to make SME banking...
View ArticleCitizens looks to employees to evolve product roadmap
A “Shark Tank”-style pitch competition has been launched at Citizens Bank, allowing employees to compete for internal innovation fund dollars with ideas focused on the next generation of products and...
View ArticleRipple can’t escape XRP lawsuit it says could topple market
Ripple Labs Inc. failed to persuade a judge to throw out a proposed class-action lawsuit that the blockchain payment services provider said could topple the market for XRP, the world’s third-largest...
View ArticleBankers and aggregators disagree on data-sharing approaches
The parameters around how consumer financial information should be shared with third-party apps and platforms was the subject of debate at an industry forum organized by the Consumer Financial...
View ArticleFigure VP Tony Morosini to speak at Bank Innovation Ignite
Tony Morosini, vice president of banking and payments at Figure, will attend and speak at Bank Innovation Ignite on March 2-3 in Seattle. Morosini will share insights and perspectives on lessons banks...
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