As non bank lenders continue to gain market share across different loan segments, we wanted to give a complete overview...
Banks and fintech firms are in competition over payments systems and each thinks real-time payments should be run differently; Bank...
Big banks like Citi and JPMorgan Chase are trying to beat fintechs at their own game with launches of new...
The National Restaurant Association has asked Congress to mandate the reduction of credit card interchange fees during the current crisis;...
A couple of weeks after rebranding, Bread Financial launched a feeless, unlimited 2% Cashback Amex Express credit card.
In this week’s PeerIQ Weekly Update the company covers the recent spate of bank earning reports, securitization news and issues another round of hiring updates; banks have seen a continued drop in fixed income and commodities trading revenue, picking up the slack has been lending and wealth management; Citigroup and Morgan Stanley had strong reports while Goldman Sachs and American Express missed the mark; SoFi is issuing a $720mn securitization deal, Moody’s rated the A classes AAA; PeerIQ also lists five new hires stemming from the $12mn round last summer. Source.
Banks are seeing some good early signs in repayments with a significant number of borrowers committing to restart normal payment...
JPMorgan Chase, American Express and HSBC said they are leading a $40mn round into Menlo Security; banks are usually a lot more secretive about security investments but they see a wider industry potential in using isolation technology; the technology can better defend against phishing attacks which account for most breaches as employees click on a fake link that then causes malware to infect the computer; when a user clicks on a link they open a browser that really is a one time instance in the cloud and prevents malware from downloading onto a computer; while some big banks have started using the technology more there has not been a significant rush yet. Source.
Branchless banks have started to show their staying power when it comes to deposits in recent quarters even as they...
Ramp is a credit card startup focused on corporate cards; the company is New York based, founded by a team...