The Fed's new real-time payments service could help small banks but hurt big ones
FedNow might be received by smaller community banks will, but it will put the Federal Reserve at odds with some of the biggest banks in the world
Australian neobank Judo secures $247 million in Series B funding
Judo attracts massive funding as the neobank wave rises worldwide — but players shouldn't sacrifice regulatory obligations in search of rapid growth.
Morgan Stanley launches digital vault for wealth management
Morgan Stanley launched a "digital vault" encrypted platform for its wealth management clients to more easily share financial documents.
PayPal's SMB lending division hit $10 billion in a major acceleration
BI PRIME: PayPal announced that its small business lending division hit $10 billion in cumulative volume.
US open banking fintech unicorn Plaid has launched in the UK
Plaid, the US fintech valued at $2.7 billion, has officially launched in the UK — marking its first expansion outside North America.
Facebook plans to launch its cryptocurrency in 2020
Facebook will roll out its digital currency in around a dozen countries by the first quarter of next year, and plans to begin testing it this year.
TransferWise just doubled its valuation to $3.5 billion — and it points to a strong public listing
Fast-growing UK-based fintech TransferWise has seen its valuation double following a $292 million secondary share round.
A new report shows insurers aren't catering to emerging risks for consumers
Emerging risks are affecting global customers' lives in a variety of ways, and insurers are struggling to meet customer demands.
Alipay's new partnership enables a "Pay later" option on AliExpress
BI PRIME: Alipay is partnering with Klarna and Adyen to offer Klarna's "Pay later" option at checkout on Alibaba-owned marketplace AliExpress.
Hong Kong is facilitating big tech's banking push
Hong Kong's Monetary Authority (HKMA) has granted virtual banking licenses to four big tech banks.
Doxo is now offering overdraft protection via bill pay
Doxo is partnering with Plaid, a fintech that enables consumers to connect their bank accounts to other financial services providers through APIs.
The Monetization of Open Banking Report 2019 - Business Insider
Business Insider Intelligence identifies various open banking monetization strategies and outlines actionable steps to make them successful.
UK customers are swarming to Goldmans Marcus
Goldman Sachs' digital-only challenger Marcus has signed up more than 250,000 customers less than eight months after launching in the country.
Unskilled staff threaten banks' ability to adapt to digital transformation
Technological disruption has a large effect on how banks operate, and it seems unlikely that the pace of change will decelerate anytime soon.
Singapore is exploring virtual banking licenses
The Monetary Authority of Singapore is evaluating whether it should allow fintech companies to operate in the city under a virtual banking license.
Mastercard is acquiring Transactis to deepen its bill pay play
BI PRIME: Mastercard announced that it will acquire bill pay platform Transactis for an undisclosed amount.
First Data and Fiserv each reported a strong Q1 ahead of their merger
BI PRIME: Fiserv and First Data both announced their Q1 2019 earnings, providing insights into their performance ahead of their upcoming merger.
US fintech Divvy bags $200 million in venture capital
Divvy, a US-based fintech startup that helps businesses manage expenses, has secured a $200 million Series C round led by NEA.
Venmo's 40 million US users show its dominance in the P2P space
PayPal's strong Q1 2019 was highlighted by results from Venmo that indicate the service's dominance in the US peer-to-peer (P2P) payments space.
