Long gone are the days when venture capital was flowing into fintech startups with bold ideas — and little to show in terms of business metrics and fundamentals. Bloomberg | Getty Images AMSTERDAM — The financial technology industry is embracing a new normal — with some industry executives and investors believing the sector has reached … Read more
The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021. Rebecca Cook | Reuters A humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — … Read more
Chris Ratcliffe | Bloomberg | Getty Images Apple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday. Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in … Read more
Cultura Rm Exclusive/twinpix | Image Source | Getty Images Home equity is near all-time highs. But tapping it may be tough due to high interest rates, according to financial advisors. Total home equity for U.S. mortgage holders rose to more than $17 trillion in the first quarter of 2024, just shy of the record set … Read more
Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al Drago | Bloomberg | Getty Images There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors … Read more
The Credit Suisse Group AG headquarters in Zurich, Switzerland, on Thursday, Aug. 31, 2023. Bloomberg | Bloomberg | Getty Images A group of Credit Suisse bondholders filed a lawsuit against the Swiss government, seeking full compensation over the contentious decision to write down the failed bank’s Additional Tier 1 (AT1) debt. As part of Credit … Read more
With Prime Minister Narendra Modi-led BJP failing to secure a simple majority on its own in the Lok Sabha election, global brokerage firm CLSA has tweaked its India portfolio to make it more defensive. It has replaced L&T with HCL Tech in India-focus portfolio. “Recognising these uncertainties, we take out L&T from our India focus … Read more
A press preview held for the ‘The Future of Money’ exhibition at the Bank of England Museum in London, United Kingdom on February 27, 2024. Rasid Necati Aslim | Anadolu | Getty Images LONOND — Banknotes featuring a portrait of King Charles III entered circulation on Wednesday for the first time, the Bank of England … Read more
Raman Bhatia, incoming chief executive officer of Starling. Bhatia moved over from OVO Energy Ltd., where he was CEO. Zed Jameson | Bloomberg | Getty Images AMSTERDAM — Digital bank Starling will not re-apply for a European Union banking license and instead pursue international expansion through its software business, the incoming CEO said, in a … Read more
SINGAPORE — Customers in Asia-Pacific have picked their favorite banks as lenders scramble to meet consumer expectations in a fast-changing environment. After a prolonged period of high inflation — and interest rates — banks in the region are starting to navigate the global trend of lower rates. They’re also facing technological innovation that has the … Read more
