The Week in Review

The Week in Review

Friday April 13, 2018 –

Here are the new and noteworthy stories we have been following this week.

HSBC applies AI to track financial crime

HSBC is working with Quantexa to identify and track money laundering.

PayPal Makes a Move Toward Traditional Banking

PayPal is looking at offering checking accounts and debit cards in partnership with small banks.

Chinese A.I. start-up raises a record $600 million in funding round led by Alibaba

SenseTime raises $600 million from Alibaba – largest investment in the AI sector.

Dutch payments company Adyen eyes June IPO: sources

Adyen planning IPO at a $7 – $11 billion valuation.

Verifone to be taken private for $2.6 billion in cash

Francisco Partners takes Verifone private for $2.6 billion.

LendingClub Founder Is Back and Wants to Replace Credit Cards

Upgrade is launching a ‘Personal Credit Line’ that combines fixed rate installment payments with the flexibility of a revolving credit line.

Investing app Stash partners with Green Dot to expand into banking

Stash is partnering with Green Dot to offer banking services – checking accounts and debit cards.

Santander launches the first blockchain-based international money transfer service across four countries

Santander has launched a blockchain based international payments service to retail customers in Spain, UK, Brazil and Poland.

JP Morgan first-quarter profit easily tops expectations

Chase generates revenue of $28.5 billion in Q1.

Citigroup earnings: $1.68 per share vs. $1.61 expected

Citi earns $18.9 billion in Q1.

BRIEF-Wells Fargo Preliminary Q1 EPS $1.12

Wells reported $21.9 billion in Q1 revenue.