Fintech

Digital wallet usage is skyrocketing, according to a recent J.D. Power study. It showed that almost half of Americans had used a digital wallet in the previous 90 days. They’re such a convenient way to store debit and credit cards, loyalty cards, gift cards, and more, that I often leave my actual wallet at home. […]

With the upcoming launch of its first digital bank, Egypt now has a massive opportunity to boost financial inclusion across the country, not to mention lay the groundwork for a thoroughly modern, customer-centric banking system. In early May, the Central Bank of Egypt (CBE) granted preliminary approval to Misr Digital Innovation (MDI), the investment subsidiary […]

In a letter to the World Bank Group this week, nine industry groups, including the Electronic Transactions Association and the Payments Leadership Council, expressed their “strong support” for the World Bank Group’s digital public infrastructure (DPI) initiatives, but expressed concern about DPI policies that don’t “adhere to international guidance and best practices.” The letter outlined […]

Spanish lender Santander (SAN.MC), opens new tab will have a full-service digital bank in the United States by the end of 2025, its executive chair, Ana Botin, said on Thursday. She made the comments during the Institute of International Finance conference in Washington. Santander formally launched its digital bank, offering high-yield savings accounts in the […]

This year they received 133,019 financial complaints compared to 93,114 in 2023. The majority of the complaints were related to banking and credit, with 101,031 complaints lodged in 2024, whilst only 56,690 were filed in 2023. In addition, in 2024 more than half of the banking and credit-related complaints were brought by professional representatives, as […]

Truist is among the top 10 in the US and 67th in the world rankings by assets ($535 billion.) As a large bank, there is opportunity for differentiation and specialisation that Ward believes helps Truist stand out among its regional and national peers. Ward joined the Charlotte, North Carolina-based institution, a key sponsor of the AFP conference […]

The survey collected data from over 1000 investment banks, brokers, and insurance firms. The results could indicate that more employees are willing to speak out when facing difficulties in the workplace, with not all participants in the survey having whistleblowing or disciplinary policies in place. 26% of the concerns were related to bullying and harassment, […]

Alternative investment firm Castlelake backs YouLend’s revenue-based lending with a three-year agreement as the platform expands its reach YouLend, an embedded finance provider that delivers revenue-based lending through partners including Amazon and eBay, has secured a financing facility from Castlelake to develop its US operations. The facility enables YouLend to extend up to US$1bn in revenue-based financing to […]

Santander launches US digital subsidiary Openbank, extending North American footprint as it targets deposit growth with cloud technology Santander, the Spanish banking group with €1.3tn (US$1.4tn) in deposits, is launching its digital banking subsidiary Openbank in the US market, marking the group’s first nationwide retail banking offering beyond its Northeast American branch network. The US […]

Google Cloud partners with financial regulatory body AIR to propose new guidelines for managing generative AI risks in financial institutions Financial institutions need to revamp their model risk management frameworks to account for the emergence of generative artificial intelligence, according to a new paper from Google Cloud and the Alliance for Innovative Regulation (AIR). The […]