While check usage has been in decline for years, for many businesses it is still a primary method of payment.
According to the Federal Reserve we processed over three billion commercial checks in 2023 valued at over $8 trillion.
PositionChairman
JoinedOct. 8, 2010
Articles2,859
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Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.
Pipe is launching a new embedded finance product to help small businesses. Their Capital-as-a-Service product has three launch partners.
Those of you following along closely will know that Fintech Nexus sold its event business to Fintech Meetup in June of last year. We have been focused on digital media since then.
Fintech Nexus is for sale and we are currently seeking expressions of interest.
Earnings season for financial services officially kicked off this morning, with three of the top four banks reporting earnings. Let's look at JPMorgan first. By most measures, they crushed it. The country's largest bank reported $13.42 billion in profit on $41.93 billion in revenue - that is for the first quarter folks, not a year.
Fighting fraud for banks and fintechs is more challenging today than ever before. But there is reason for optimism in this fight says the CEO and Co-Founder of Alloy.
We learned a couple of weeks back that the former head of Marcus, Swati Bhatia, had taken a job at Santander to lead U.S. consumer and business banking.
Yesterday, we learned more details about what this new job is going to entail.
We learned a couple of weeks back that the former head of Marcus, Swati Bhatia, had taken a job at Santander to lead U.S. consumer and business banking.
Yesterday, we learned more details about what this new job is going to entail.
In May of last year, Petal announced it had raised a new funding round and was spinning off its infrastructure unit, Prism Data.
But then we heard in November that Petal was struggling and looking for a buyer.
Anyway you slice it, we have not been doing a good job in stopping money laundering.
It is estimated that we only catch 1-2% of all illicit money flowing through the banking system. Yet as an industry, we spend many billions of dollars in this fight.