U.S. bank profits fell 36.5 percent in 2020 compared to the previous year due to the large volume of money set aside to cover potential losses caused by the coronavirus pandemic, according to a report from the Federal Deposit Insurance Corporation (FDIC). Get the Full Story...
San Francisco-based Brex, which makes financial management software for businesses, announced Friday (Feb. 19) it has filed to open an industrial bank in Utah, according to a press release. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
In today’s top digital-first banking news, Bank of America inventors filed a record number of patents, while Klarna is collaborating with cryptocurrency exchange Safello. Plus, Deutsche Bank has introduced a modern payment system for its Thailand customers to support local collections. Get the Full Story...
Payments and shopping platform Klarna, known for its buy now, pay later (BNPL) option, is now offering consumer bank accounts in Germany as it moves closer to becoming an all-in-one app for its users. Get the Full Story Complete the form to unlock this article...
Wells Fargo, trying to invest more in Black-owned banks, has put equity investments into six of them thus far, according to a Monday (Feb. 8) press release. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
Call it financial IQ. 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 completing this form, you agree to receive marketing...
Within financial services, artificial intelligence (AI) is typically deployed in various efforts to identify and stop fraud. But advanced technologies can also be leveraged to help financial institutions (FIs) operate more efficiently, improving the end-to-end payments experience for their consumers. Get the Full Story Complete...
To get a sense of the present state — and future — of instant payments, look to Italy. It has pulled ahead of its EU neighbors in developing real-time payments technology and in recruiting banks to adopt it. Get the Full Story Complete the form...
It may not seem to be an easy connection to make, but as financial institutions (FIs) continue their quest for innovation, they may learn something from a toy: Legos. Because fashioning new payments initiatives must mean paying attention to the small details and approaching it...
