HSBC takes aim at Revolut and Wise
The bank’s cross-border transaction service opens a new lane for customer acquisition in an increasingly competitive niche.
Has the fintech movement lived up to its promise?
The fintech revolution has been more successful at working with banks than at trying to replace them, points out Gene Ludwig, former Comptroller of the Currency, chair of the Ludwig Institute for Shared Economic Prosperity, and co-founder of Canapi Ventures. Those with “must have” products will fare far better in 2024 than those with “nice […]
Colorado is mapping a dangerous path on access to credit
A new law will make Colorado a much more difficult place for cash-strapped citizens to get credit. Other states should avoid following in its footsteps.
Spot bitcoin ETFs are coming, but not as soon as their advocates think
Before a spot bitcoin ETF is approved, we’re going to need to see much more clarity about how applicants draw the line between custody and trading.
With bank-owned insurance agencies, not everyone is sold
Banks’ sales of insurance agencies for eye-popping multiples emerged as one 2023’s notable trends. Though the bandwagon shows no sign of slowing, several prominent community banks appear to be holding on to their insurance operations.
Mortgage investor JER files for bankruptcy, is latest property firm to crash
The real estate investment trust — which counts the private equity firm C-III Capital Partners among its top shareholders — owes more than $100 million to creditors but has less than $50 million of assets, according to a Chapter 11 petition.
Michael Shriner named CEO of New Jersey’s BCB Community Bancorp
The community banking veteran will succeed Thomas Coughlin, who spent nine years as CEO of the Bayonne, New Jersey-based bank.
5 fintechs that got into legal hot water in 2023
Frank, Daylight, Greenwood, Totem and Brigit faced lawsuits, disputes and penalties.
Who will drive stablecoin innovation in 2024?
Projects are underway at a number of payment firms including PayPal, Circle and Ripple. Location and regulation will also play a big role in what the market looks like in the next year.
Big banks are afraid of open banking. That’s a good thing.
Making it easier for consumers to switch between competing banks will increase competition, resulting in major benefits for account holders.