Fintech

The Federal Reserve has allowed more than $1 trillion of assets to roll off its balance sheet. Chair Jerome Powell says he doesn't believe reserves in the banking system are nearing a level that would cause the Fed to slow down or stop.

How are banks and the financial sector likely to perform in the coming year? The Americas chief investment officer of UBS Global Wealth Management shares her insights.

The fintech is the second in two months to launch a secured credit card. Upgrade's version will offer up to 3% cash back and elevate users to the unsecured version over time.

CaixaBank assembled a team of more than 100 people focused on generative artificial intelligence products, Ripple changed the name of RippleNet to Ripple Payments, and more.

If banks reached the same market penetration among U.S. customers of Latin American descent that they have among white Americans, they could tap an additional $155 billion in annual revenue, according to new research from the consulting giant McKinsey.

Michael Rhodes, who has spent the last dozen years in various executive roles at TD Bank Group, will become president and CEO of Discover Financial Services. The move comes four months after the unexpected departure of Discover's longtime CEO Roger Hochschild.

Visa, Mastercard, SAP, Circle and many other financial firms are launching digital card accounts with an emphasis on B2B clients.

Once the pace of private equity-backed sales of middle-market companies picks up, the Rhode Island-based bank expects to benefit. CEO Bruce Van Saun says that Citizens' recent expansions in private banking and wealth management will provide opportunities to cross-sell to corporate clients.

Top industry executives said this week that price increases are abating, even if they haven't yet fully abated. Their remarks reflect increased confidence that the Federal Reserve will hold interest rates steady — or perhaps even cut them — in the first half of 2024.

The Ohio-based regional bank has laid out an ambitious expansion blueprint, including new health care asset-based lending, a Native American financial services unit and a push into commercial banking in North Carolina and South Carolina.