The Big Tech is reportedly developing a suite of proprietary financial services dubbed Breakout—here’s why it won’t be easy.
OakNorth’s 2021 results offer best practices for challengers: The UK neobank attributed a 73% increase in pre-tax profits to its underwriting approach and customer referrals.
Despite only holding about $9.1B in assets, the US bank has attracted big-name fintech clients and another funding round.
Bill aims to include privacy protections in US CBDC: Legislation calls for the US Treasury Department to conduct a pilot program for a central bank digital currency (CBDC).
FDIC hands big banks a climate framework: The US regulator wants large financial institutions (FIs) to anticipate risks connected to climate change. The document could also serve as an action plan to execute on pledges.
Despite their extensive climate commitments, banks invested $742B in fossil fuel companies during 2021.
N26 barred from adding customers in Italy: The Bank of Italy’s decision follows an anti-money laundering (AML) review. The Germany-based neobank faced similar troubles in its home market.
Fiserv strikes open banking collab with Finicity: The deal will let financial institutions (FIs) offer data-sharing to consumers, helping smaller players better compete with fintechs.
Connecting to the mobile bank-to-bank system lets Slice increase payment options and capture a larger share of volume.
Rohit Chopra’s proposed punishments for recidivists range from loss of FDIC coverage to breakups.