New York-based banking service provider MANTL launched a Business Account Opening service that automates up to 97% of new account decisions.
The booming cryptocurrency sector’s complaints that Washington has gone too far in cracking down on its unregulated products are getting tested in a lawsuit targeting digital coin XRP.
Rob Moffat, a partner at Balderton Capital, said that as well as higher inflation and interest rates increasing the risk on capital investment, institutional investors were also becoming more risk-averse.
"We couldn't be more excited to, essentially, be taking the reigns and bringing a stablecoin to market hopefully later this year," Silvergate CEO Alan Lane said.
Finance Minister Nirmala Sitharaman noted the moves during the country's annual budget speech to Parliament.
Remittances sent from the U.S. to Mexico increased by 37.7% between November 2020 and 2021, according to research published by BBVA.
Starting last year and picking up steam in January, about a dozen of the nation’s largest banks have begun taking steps to rein in bounced check and courtesy overdraft fees, in which they allow customers to spend more than they have available in their checking account and charge them a fee fo
Neobanks and traditional institutions face a period of intense change, driven by technology, but framed within new political realities.
Rohit Chopra, the director of the Consumer Financial Protection Bureau, has cautioned banks, credit unions and fintechs about fair-lending violations that may stem from reliance on artificial intelligence. His comments threaten to discourage financial firms from using the technology to crunch nontraditional data about borrowers, experts say.
I don’t know what the future of money is going to be any more than Mark Zuckerberg did, but I’m pretty sure it is going to be more radical than a chest of gold-pressed Latinum coins or a stablecoin for avatars in Big Tech’s virtual world.