Category: Doing Business Overseas

Finovate Podcast host Greg Palmer wrapped up a year’s worth of fintech conversations with this handful of episodes featuring Finovate Best of Show winners, innovative bankers, and insightful venture capitalists. Find the Finovate podcast at Soundcloud and follow Greg Palmer on Twitter for the latest in programming news and updates. Rob Antoniades, Co-founder and General Partner, Information Venture Partners…

Stripe and Amazon have agreed to “significantly expand” their partnership. Under the agreement, Stripe will process a notable portion of Amazon’s total payments volume. The two have been partners since 2017. Payments infrastructure company Stripe announced today that Amazon has agreed to “significantly expand” its use of its core platform, recruiting the California-based company as…

Earnix, an Israel-based company that provides insurers and banks with real-time, dynamic pricing and rating solutions, introduced a new Chief Executive Officer this week. Robin Gilthorpe will take over the top spot at the firm effective February 1st, replacing outgoing CEO Udi Ziv, who served as Earnix’s CEO for six years. “Today’s end-customer demands unparalleled…

What are the biggest obstacles to digital transformation in banking and financial services? For Leda Glyptis, self-described “recovering banker” and author of the new book, Bankers Like Us: Dispatches from an Industry in Transition, the fault lies not in the stars, but in bankers themselves. Fortunately, Glyptis sees bankers as the solution, as well. “For…

Ally Financial is looking to capitalize on recent layoffs of tech talent to grow its own digital platforms despite potential economic turbulence to come this year.  WHY IT MATTERS: The $191 billion bank plans to survey the workers being laid off at tech-driven companies and see who available, as major tech companies such as Amazon,…

Truist Financial closed its acquisition of finance company BankDirect Capital Finance in the fourth quarter of 2022. The deal for the finance company to operate under the bank’s Truist Insurance Holdings arm was announced Sept. 6, according to a Truist release. BankDirect brings life insurance, new team members and enhanced risk management solutions to Truist,…

Huntington Bancshares is planning to accelerate its automation efforts using savings gained from shuttering 63 branches in 2022. WHY IT MATTERS: Huntington outlined during its August 2022 Investor Day some core tech initiatives, including automating and enhancing the customer experience. “To further accelerate the execution of these strategies and support increased efficiency, we will be…

Truist Financial increased its non-interest expenses in the fourth quarter of 2022 as minimum wage increased and the bank invested in technology, acquisitions, revenue-generating business and call center staff. The $548 billion bank’s adjusted non-interest expenses grew 8% year over year to $3.4 billion, according to its Q4 earnings presentation. WHY IT MATTERS: Although expenses…

Fifth Third Bank saw higher technology-related expenses during the fourth quarter as it continued to invest in “platform modernization,” including the launch of its new cloud-based mobile app, Chief Financial Officer Jamie Leonard said during today’s earnings call.  WHY IT MATTERS: Fifth Third increased technology and communications spend 8% year over year to $111 million…

Capital One Financial Corp. eliminated hundreds of technology positions this week, the result of the credit-card giant spending years investing in systems meant to improve its efficiency. More than 1,100 workers were affected, according to a person familiar with the matter who asked not to be identified discussing a private matter. Those employees have been…