Monzo, the U.K. mobile-only bank, now has a valuation of $1.3 billion, pushing the startup into unicorn status. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to...
AI and ML-powered services can help fight banking fraud. However, to layer the tech into viable solutions to assist customers with banking, robo-advisors need to truly become “smart,” intuitive — and conversational. In a new podcast, Brighterion CEO Akli Adjaoute tells Karen Webster that “smart...
A new survey has found that small businesses aren’t feeling the love from their banks. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter,...
Wells Fargo announced Wednesday (October 25) that its chief administrative officer Hope Hardison and chief auditor David Julian have begun leaves of absence from the bank and will no longer be members of the company’s Operating Committee. Get the Full Story Complete the form to...
The Federal Deposit Insurance Corporation (FDIC) is setting up an office of innovation to encourage banks to adopt financial technology changes. FDIC Chairman Jelena McWilliams made the announcement at an American Bankers Association conference in New York, revealing that federal bank regulators need to encourage...
The country’s four largest banks reported a combined 5 percent drop in U.S. deposits that earned no interest in the third quarter, compared with a year ago. According to The Wall Street Journal (WSJ), JPMorgan Chase, Bank of America, Wells Fargo and Citigroup revealed that customers withdrew...
Goldman Sachs is moving its Marcus business line into its wealth-management unit. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By...
Bank OZK, the Arkansas lender, saw its stocks plunge late last week after it took a more than $45 million write-down on two commercial real estate loans, stoking fears that small banks in the U.S. are taking on too much commercial real estate loan risk....
As cybercriminals ramp up their attacks, a growing number of FIs are turning to AI and machine learning to protect customers and assets. However, that isn't enough to stop fraudsters in their tracks, according to CEO Bill Nelson of FS-ISAC. In the latest Digital Banking...
