Allica Bank, one of the United Kingdom’s fastest-growing challenger banks, has made a decisive move into embedded finance with the acquisition of small and mid-sized business (SMB) lending FinTech Kriya. Announced Wednesday (Oct. 22), the acquisition will enable Allica to integrate Kriya’s PayLater platform and extend flexible working capital options to SMBs — a market … Read more
Telcoin, a blockchain-based financial services provider, has raised $25 million in an ongoing pre-Series A funding round to help launch Telcoin Digital Asset Bank in the U.S. and introduce its new bank-issued stablecoin, eUSD Digital Cash. With regulatory approval in hand, Telcoin is positioning itself to redefine the financial sector by combining the security and … Read more
Fifth Third Bancorp is positioning itself for robust growth through its strategic focus on embedded finance and its upcoming acquisition of Comerica. CEO Tim Spence highlighted the bank’s continued expansion, particularly in the Southeast U.S., and the promising outlook for its embedded finance solutions. This comes as the bank reported a 6% increase in loan … Read more
U.S. Bank — one of the nation’s largest lenders and global custodians — is officially deepening its bet on blockchain and digital finance.The bank announced Wednesday (Oct. 15) that it has established a dedicated Digital Assets and Money Movement organization focused on four major areas: The new division will focus on both product innovation and … Read more
The Federal Reserve is taking a major step toward real-time, near-continuous settlement for large-value payments.The central bank said it will extend operating hours for its Fedwire Funds Service and the National Settlement Service (NSS) to 22 hours per day, six days a week, running from Sunday through Friday — including weekday holidays. The initiative, known … Read more
America’s largest banks are reporting a wave of robust earnings, powered by equity market gains, steady dealmaking, and surprisingly resilient consumer spending.Goldman Sachs, JPMorgan Chase, Wells Fargo, and Citigroup all described their latest quarterly results as “solid,” according to remarks shared Tuesday (Oct. 14). Investment banking revenues have rebounded sharply as mergers and capital markets … Read more