Application programming interfaces allow software programs to talk to each other. They are a potential solution to the current industry standoff over sharing of bank customer data with aggregation sites; in the long term, they could transform how banking is done, making customer relationships less sticky but opening up new revenue models for financial institutions. This paper lays out the basic issues surrounding APIs.
Disaster relief is capturing a large share of philanthropic giving from banks such as Truist Financial and Western Alliance Bank.
The U.K. axed its payments regulator in an effort to reduce red tape as part of the prime minister's Plan for Growth. The move was lauded by industry, but some are concerned the FCA won't give payments the attention they deserve.
Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau's rule barring medical debt from credit reports.
The country's central bank cited geopolitical uncertainty and the increased reliance on digital payments as a reason to focus on offline payments as a backup. Also, a look at U.K. bank outages and other news in American Banker's global payments and fintech roundup.
The Abu Dhabi sovereign wealth fund-backed AI investment company initiated the largest investment ever paid in crypto.
The regional bank, which hired a commercial banking team away from Citizens Financial Group, has identified growth opportunities not only in the Garden State, but also in Pennsylvania and Texas.
