The government is pushing for a sharper divide between Alipay and Ant Group’s loan business by making the latter spin off the division—which includes short-term loan product Jiebei and virtual credit card Huabei—into a standalone app.
Akoya adds TD Bank to its data-sharing system: Bringing another of its investors onto its financial data network will help the open-banking provider in the competition to become a de facto dominant standard in the US.
The banking giant’s plan to roll up its marketing and digital teams amid the departure of its chief marketing officer is consistent with how its digital head and his peers view these evolving functions.
Better.com acquired UK fintech Property Partners, which lets users buy shares in property portfolios, to enhance its value proposition ahead of its SPAC by tapping into the next homebuying innovation.
The BNPL provider delivered triple-digit growth in gross merchandise volume and active merchants, with CEO Max Levchin highlighting some of the key factors that contributed to growth, like Affirm’s expanded Shopify partnership.
BofA picks lead digital banking exec as tech chief: Naming Aditya Bhasin—who led its online and mobile banking channels—to its top technology post bodes well for the bank, building on tech successes spanning digital usage to patents.
Wells Fargo gets carrot and stick from federal regulators: Hit with a $250 million fine from the Office of the Comptroller of the Currency (OCC), the banking giant also got a pat on the head for improvement as a Consumer Financial Protection Bureau (CFPB) decree ended.
The UK neobank is the latest to join the hot and crowded installment-payments space—and cross-promotion to its 5 million users could ramp it up quickly.
ING is closing its PFM app Yolt to focus on B2B open banking platform YTS, a welcomed focus as other players bet on consolidation.