Harit Talwar, who has been Goldman Sachs’ global head of consumer business and the public face of its Marcus unit since 2015, is leaving his position, according to a Bloomberg report.
Read MoreWells Fargo has signed an agreement to enable API-based secure data sharing with aggregator Envestnet Yodlee, allowing customers to securely share data with 1,400 third-party financial applications
Read MoreCitibank and the Citi Foundation committed $1B in funding to enhance access to financial services for communities of color.
Read MoreCitibank has named Jane Fraser to become CEO of the megabank. She will assume the role once current CEO Mike Corbat retires in February.
Read MoreGoldman 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 MoreAmerica’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 MoreAmid 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 MoreBritish bank TSB is getting rid of branch cashiers next year, affecting 929 jobs.
Read MoreFifth Third Bank is partnering with San Diego-based digital estate planning fintech Trust & Will to offer online estate planning services to its customers.
Read MoreIn 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 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 MoreThe 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 MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
