Public comments revealed that many feel like the plan for banks and card companies falls short.
The Kansas Fed said the bank’s activities didn’t reflect safe and sound banking practices.
Despite slower spending growth, both companies managed to pull in more customers—positioning them well in the long term.
Consumers want a quick application process and immediate access to their new account. But an experiment found that banks can take up to two weeks.
Although the country made enormous progress with its first-mover advantage, regulatory hold-ups could help other countries dethrone it.
As more UK branches close, more shared banking hubs are promised. But only four are operational. That’s not enough to fill the growing gap.
The card network’s volume grew 7% YoY in its fiscal Q1. Falling fintech valuations might help fuel long-term growth for Visa.
Three fintechs that specialize in anti-money laundering controls—including one powered by AI—caught investors’ eyes amid regulatory crackdowns.
To avoid more record fines from regulators, the bank reprimanded employees who were using the unapproved platform .
Online banking, mobile banking, and customer service were their top reasons for switching accounts in Q3 2022. Then they set a record in Q4.
The card network’s gross payment volume increased 8% YoY during Q4, but it anticipates a slowdown in revenue growth this quarter.
Community banks and credit unions are spending their tech budgets on fintech solutions that improve their operational efficiency.