Santander wants to fix financial inclusion in Mexico: It plans to launch its digital-only brand OpenBank there in 2024. But it picked a problem that may be too big to handle.
Secretary Yellen emphasized its stability and endorsed the rescue efforts. The Fed gave a picture of emergency lending.
Many of them banked solely with SVB. Recent events taught them to take their finances more seriously, and to work with multiple banks.
On today's episode, we explore the evolution of the payments ecosystem and discuss the trends to look out for in 2023. In our “Headlines” segment, we discuss (among other things) buy now, pay later; credit card fees; and crypto. In “Story by Numbers,” we examine payments at retail stores. And in “For Argument’s Sake,” we debate whether interest rate scrutiny by regulators will impact credit card rewards programs. Tune in to the lively conversation between our host Rob Rubin and analysts David Morris and Jaime Toplin.
Visa, Mastercard, and several paytechs said their businesses were mostly uninterrupted despite ties with the now-collapsed bank.
The number of Gen Z mobile banking users will reach 33.7 million in the US this year and continue to grow at a compound annual growth rate of 12.4% through 2026, per our forecast.
Its valuation took another big dip, but the raise could encourage other cash-hungry fintechs. Stripe’s OpenAI tie-in can open doors for both firms.
The bank received $52 billion in aid from the Swiss central bank. But central banks may also be aiding the global banking turmoil through rate hikes.
Fear perpetuated by social media led customers to withdraw uninsured deposits in droves. But the bank will be saved with aid from the largest banks in the US.
Amid the turmoil, a neobank has an identity crisis: MoneyLion can’t sell the reason for owning a content studio.
Sen. Warren’s bill would tighten up the eased Dodd-Frank regulations, and Gov. Bowman praised financial regulators for supporting innovation. But a lack of support and clarity remains.
Fears of a global banking crisis aren't going away as Credit Suisse shares nosedived amid investors’ shaky confidence in its financial position.
Neobanks and Wall Street lenders have an opportunity to attract new start-up clients.