Category: digital currencies

The jury is still out on whether or not January is officially Financial Wellness Month. But savings platform Plinqit isn’t waiting around for any verdict. The Ann Arbor, Michigan-based fintech announced this week that it has partnered with SUMA Federal Credit Union to help give the institution’s 7,000+ members the resources they need to become…

Citizens Financial Group will continue to modernize its cloud-based digital platforms and move away from internal applications in 2023 following last year’s cloud migration efforts. WHY IT MATTERS: In 2022, the $225 billion Citizens moved its direct-to-consumer digital platform Citizens Access to a cloud-based platform and will continue take to the cloud through its newly…

LendInvest received increased funding from Lloyds Bank this week, bringing its total warehouse investment to $367 million (£300 million). The boost in investment will help LendInvest enter the homeowner mortgage market, a $1.5 trillion (£1.2 trillion) opportunity. LendInvest now has more than $4.4 billion (£3.6 billion) in funds under management. U.K.-based property finance asset manager…

Goldman Sachs turned its focus to Platform Solutions growth in the fourth quarter of 2022 as the section saw a 171% increase in revenue year over year to $513 million and help with the offset of its shrinking team.   WHY IT MATTERS: Goldman reported a “disappointing” and “challenging” Q4 with a 25% year-over-year decline…

Pensioners feeling the pinch are increasingly turning to buy-now, pay-later services, the latest sign of how the cost-of-living crisis is squeezing the UK population. Almost a fifth of over 65-year-olds said they had used the popular short-term credit offered by fintechs, according to a December survey of 2,061 adults commissioned by the Centre for Financial…

KYC/KYB specialist Kyckr has agreed to be acquired by tech entrepreneur and billionaire Richard White. Terms of the transaction were not disclosed. Kyckr is an alum of our developers conference, FinDEVr Silicon Valley 2016, where the company presented “Corporate Identity on the Blockchain.” Kyckr, a technology company that provides corporations with authoritative real-time data on…

The five-day World Economic Forum (WEF) began today. The annual event gathers leaders from across the globe in Davos, Switzerland to discuss the latest economic, social, and political issues. This year’s theme is Cooperation in a Fragmented World and many of the sessions are relevant to the fintech industry. I combed through the agenda and…

Splitit partnered with Alipay to power the firm’s Pay After Delivery payment option. Splitit is leveraging Checkout.com’s payment-acquiring capabilities to facilitate Alipay’s Pay After Delivery. Splitit was founded in 2012 as PayItSimple. The company rebranded in 2015 under its current name. Installments-as-a-service company Splitit announced a new tie-up with global payments platform Alipay this week.…

Wells Fargo is keeping to its multiyear digital transformation path and planning further investments in its online platforms in 2023. WHY IT MATTERS: Since 2020, the $1.8 trillion Wells Fargo has decreased its headcount by more than 10%, or 30,000 people, and there are more gross expenses within the company that can be reduced, Chief…

Bank of America continued to invest in technology and people during its fourth quarter amid global economic uncertainty.  WHY IT MATTERS: The $3 trillion bank’s Q4 non-interest expenses rose 8% year over year to $5.1 billion, “primarily driven by investments in technology and employees, including hiring, higher costs from return to work, and client engagement,”…