Fintech

Wise posted a 55% jump in profit in the first half of its 2025 fiscal year Wednesday, citing customer growth and expanding market share. The British digital payments firm said that its first-half profit totalled £217.3 million, up from £140.6 million in the same period a year ago. That came on the back of a […]

UK regtech Konsentus has been selected by the Bank of Namibia to establish API guidelines for the central bank’s integration of open banking. The Reading-headquartered open banking firm has been engaged to “identify, recommend and facilitate the development of the API standards”, according to a statement. This is to also include establishing “appropriate rules” for […]

LONDON — Buy now, pay later firm Affirm launched Monday its installment loans in the U.K., in the company’s first expansion overseas. Founded in 2012, Affirm is an American fintech firm that offers flexible pay-over-time payment options. The company says it underwrites every individual transaction before making a lending decision, and doesn’t charge any late fees. Affirm, which […]

Digital payments platform Checkbook is joining the J.P. Morgan Payments Partner Network. The partnership will enable J.P. Morgan’s corporate clients to send digital checks, the companies said in a Monday (Nov. 4) news release. “Digital checks bring security and speed to the payment landscape, giving recipients more freedom by offering an additional method to receive funds,” the companies said […]

While the world may be getting smaller, the challenges of sending payments across national borders are not. Inconsistent handling of the various national faster payment services and requirements, both to prevent crime and to protect personal privacy, are among the factors making cross-border payments cumbersome and complex. These are problems worth solving. Speaking at the […]

While today’s digital-first students navigate campus life through smartphones, many colleges and universities still rely on fragmented, analog payment systems. These systems introduce inefficiencies that disrupt cash flow and undermine student satisfaction — factors critical to the long-term success of any higher education institution. Unified digital commerce systems are the next-generation alternative, offering not only […]

Bank of America “has been, and plans to continue, implementing enhancements” to its AML/BSA and sanctions compliance programs, as it cooperates with regulators, the lender said in Tuesday’s filing. The bank’s discussions with regulators continue, “and resolution of these discussions may include one or more public orders by the regulators,” the filing noted. The bank […]

Many merchants are hesitant to take the plunge on new payment methods because they are concerned about the time or resource investment, as well as the ever-present threat of fraud. However, in many cases, the benefits of adopting emerging payments dramatically outweigh the drawbacks. For instance, many younger consumers might not qualify for a credit card, but […]

Despite stretched household budgets and concerns about the economy, American shoppers are expected to spend more—and take on more debt—this holiday season. Consumer spending on gifts, food, decorations, and other seasonal items is expected to hit a record of $902 per person, $25 more than last year, according to the National Retail Federation’s annual survey. […]

Federal regulators have taken action against VyStar Credit Union following a “botched” online banking launch. As the Consumer Financial Protection Bureau (CFPB) said in its announcement Thursday (Oct. 31), VyStar in May 2022 switched to a new and “dysfunctional” digital banking platform that made it difficult for members to perform basic banking features for weeks or months on end, leading these […]