Fintech News Stories
Jane Fraser to become CEO of Citi next year
/Citibank has named Jane Fraser to become CEO of the megabank. She will assume the role once current CEO Mike Corbat retires in February.
Read MoreBuoyed by deposit growth, Goldman considers AI assistant for online bank Marcus
/Goldman Sachs’ digital bank Marcus is on the cusp of rolling out new offerings, including a checking account and possibly an AI assistant, per a report from Business Insider.
Read MoreJPMorgan Chase cuts the words ‘master,’ ‘slave,’ and ‘blacklist’ from internal code
/America’s reckoning on race relations is now impacting bank programming language. JPMorgan Chase is eliminating the terms ‘master,’ ‘slave,’ and ‘blacklist,’ from its technology policies, standards and control procedures, as well its programming code.
Read MoreJPMorgan Chase spoke with USPS about banking services at post offices
/Amid recent scrutiny of changes to USPS operations, The Capitol Forum reports JPMorgan Chase (JPMC) spoke with the postal provider about offering banking services at post offices.
Read MoreTSB to phase out branch cashier jobs as digital adoption grows
/British bank TSB is getting rid of branch cashiers next year, affecting 929 jobs.
Read MoreFifth Third Bank Launches Digital Wills
/Fifth Third Bank is partnering with San Diego-based digital estate planning fintech Trust & Will to offer online estate planning services to its customers.
Read MoreUK challenger bank Starling reports strong revenue growth during pandemic
/In a business update, U.K.-based digital banking startup Starling reported an annualized revenue run rate increase of more than 370% in wake of the pandemic, to £80M ($104.6M).
Read MoreCustomers Bancorp sells BankMobile to Megalith Financial Acquisition
/Customers Bancorp has agreed to sell subsidiary platform BankMobile to Megalith Financial Acquisition. The company would then merge with Megalith, change its name to BM Technologies, and go public.
Read MoreMixed fortunes for challenger banks
/The past week has been a mixed bag for challenger banks globally. U.S.-based Varo earned a national bank charter, clearing three years of regulatory hurdles and hefty investments; Australia’s DayTek Capital was granted a banking license, joining the likes of Xinja, Judo Bank and Volt; and U.K.-based Monzo posted $149M (£113.8M) loss for the year.
Read MoreGoldman develops M&A matching app for clients
/Goldman launched an app for clients called Gemini to help its clients find merger and acquisition prospects.
Read MoreRadius Bank Strengthens In-House PFM
/Radius Bank, a digital bank with $1.4B in assets, is incorporating goals-based saving into its app. Radius, which has partnered with many fintechs, is in the process of joining LendingClub upon the close of a $185M acquisition of the bank.
Read MoreFIS launches subscription-based model for community banks and credit unions
/Banking core technology provider FIS this week unveiled a flat-fee, month-to-month subscription model for community banks and credit unions called ClearEdge.
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