Merrill, Bank of America’s wealth management arm, is putting its resources where its customers are. The firm has 20 teams catering to ultra-high-net-worth individuals in Florida – those with at least $10M to invest – and plans to double that over the next few years.
Read MoreSquare wants to be a one-stop shop for small businesses, and with the launch of industrial bank Square Financial Services, the new bank will offer businesses deposits and loans.
Read MoreStock trading app Robinhood is in discussions with The Financial Industry Regulatory Authority (FINRA) to settle probes into options-trading practices and outages that took place in March of 2020
Read MoreDevon Sherman, Senior Managing Director of MassChallenge FinTech and HealthTech
Read MoreCoinbase just filed its paperwork to go public through a direct listing, becoming the first cryptocurrency exchange that will list on the Nasdaq.
Read MoreA series of payments systems operated by the Fed went down for several hours on Wednesday due to an “operational error,” affecting multiple services, including the automated clearinghouse system (FedACH), a lifeline that connects financial institutions sending electronic credit and debt transfers.
Read MoreStreamlabs, a Logitech-owned company that specializes in tools to help streamers increase engagement, is including a tipping option in its mobile website builder Willow.
Read MoreThe Federal Reserve Bank of Richmond has appointed Sunayna Tuteja, TD Ameritrade’s former head of digital assets and distributed ledger technology, as its chief innovation officer.
Read MoreAlthough its pre-tax profit fell 34% in 2020 compared to the year prior, HSBC’s annual earnings beat expectations despite a tough year due to the coronavirus pandemic.
Read MoreStandard Chartered Bank India is rolling out a video KYC (know your customer) process for account onboarding, eliminating the need for customers to go to physical branches to validate documents.
Read MoreStripe, a firm whose tools allow merchants to accept payments, has named Mark Carney to its board of directors. Carney, a former governor of the Bank of England and the Bank of Canada, is currently the United Nations envoy on climate action and finance.
Read MoreA week after Canada’s central bank confirmed that its plans for a central bank-backed digital currency (CBDC) have accelerated during the pandemic, government-backed digital currencies cleared hurdles in two other markets.
Read MoreAmid the GameStop trading frenzy in recent weeks, the U.S. House Financial Services Committee heard from tech CEOs, including Robinhood CEO Vlad Tenev, on Thursday, Feb. 18.
Read MoreThe Federal Deposit Insurance Corporation (FDIC) has appointed fintech executive Sultan Meghji as its first-ever chief innovation officer.
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.
