Their earnings largely reflected the same results as US banks reported, though their profits weren’t hit as hard by loss provisions.
LevelField’s acquisition of an FDIC-insured bank likely won’t be enough to harmonize digital and traditional assets.
The funding round shows there are opportunities for fintechs serving North Africa’s substantial underbanked population.
Challenger banks that cut costs and prioritize lucrative revenue streams are carving out the profits that still elude most.
Higher rates and the risk of increased defaults are hurting their business. They’re also losing market share to specialized fintechs.
Just as the tech blows up in banking, UK startup Evident has created a non-biased index that scores banks on AI development and implementation.
It wants to lower the amount credit card issuers can charge in late fees—which would hurt a key source of issuers’ revenues.
FIs can access multiple fintechs through one connection while giving consumers control over their data.
Embedded finance fintechs and those with disruptive potential are still attracting investment despite the funding decline.
In a saturated market and during a cost-of-living crisis, the investing app may struggle to win new customers.
It’s applying for state regulatory licenses—but it still needs to deal with other hurdles standing in the way.
Travelers may want to let loose on vacation, but they want their premium travel credit cards to be locked down tight. The most in-demand feature of these cards is free identity theft insurance, with 53% of prospective users in the US saying it was “extremely valuable” to them, according to our “US Premium Travel Credit Card Emerging Features Benchmark 2022” report.
Lenders are cutting bankers’ bonuses by up to 70% to cut costs in response to a dealmaking slowdown.
Financing restrictions, political wrangling, and lending support could all be set to increase for banks.