Technology

CEO Alex Chriss contends the payments company can get a boost from greater access to mobile payment technology while competing against the technology giant on other fronts.

The Wilmington, North Carolina-based institution is pursuing a model that cuts out the middleman and embeds its services directly into fintech partners' platforms.

Investing in data governance, compliance and staffing appropriately can help manage the risks of offering banking as a service, experts say.

New funding would increase valuations for both firms, reversing a slump that has impacted the entire industry for the past two years.

Financial institutions that entered the space before regulatory oversight intensified need to calculate whether the price of talent, risk planning and technology is worth the return.

Fostering financial well-being among the country's fastest-growing demographic group is essential to the future of the American economy. And, not incidentally, it's also good for business.

While the federal banking agencies are not changing any current rules, they issued a joint statement Thursday cautioning banks about risks in third-party deposit partnerships. They are also seeking public input on bank-fintech partnerships more generally.

Project Fortress encompasses four initiatives Deputy Secretary Wally Adeyemo hopes will "improve the security and resilience of the financial services sector."

The big box retailer's move comes amid a broader decline for the traditional payment option.

The Consumer Financial Protection Bureau reversed itself, declaring that earned wage access programs, which conduct no underwriting and charge no interest, are loans. This is a disservice to the industry and consumers.