Way before he was a Broadway star, Alexander Hamilton was a formidable presence on another stage — in this case, the development of the U.S. financial system. He made the case at the end of the 18th century for sweeping changes, arguing for a cohesive...
Truist Financial on Monday (July 18) rolled out two accessible account options that will extend banking services to new customers while avoiding overdraft fees, a press release said. Called Truist One Banking, the two new accounts will help clients “build a stronger financial future,” according...
The banks see strength — in consumer spending, debit, credit and in a recession that may prove short-lived. But they are preparing for some bumpiness in the months ahead and some weakness in those same metrics. Watch what they say, in other words, and what they do....
Uprise, a FinTech which aims to help Gen Z manage money in a “digital family office,” has launched after raising $1.4 million in a seed funding round. The company already has a 7,000-strong waiting list in the U.S., AltFi reported Tuesday (July 12), and plans...
Eighty-four percent of the entire U.K. population still banks with the top seven high street banks, which include the “Big Four” clearing banks: Barclays, Lloyds, HSBC, and NatWest. That data, published in a recent Bank of England (BoE) report, shows the highly concentrated nature of...
This week in the news, the U.K is to get two new neobanks as Ashman and Kroo are granted licenses. Ashman has been issued a banking license “with restrictions” by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). It announced on its...
Australian challenger bank Volt is returning more than $100 million to its estimated 6,000 customers next week and handing its banking license back to regulators after the FinTech startup failed to raise enough capital to keep growing. “Volt is doing everything possible to return the...
There’s an old saying in the newspaper business: Never argue with someone who buys ink by the barrel. The implication of that statement is that some people or entities, wield so much power that battling against them becomes an uphill battle. We’re reminded of that...
Digital banking has become the standard banking method over the past several years, largely due to the boost it received during the course of the pandemic as bank branches shut down or reduced their hours, forcing consumers to turn online to do their banking. More...
