Friday January 18, 2019 –
Here are the new and noteworthy stories we have been following this week.
Open banking: the quiet digital revolution one year on
The UK’s open banking initiative is one year old, but public awareness of the service and its benefits remains low.
Fintech firms want to shake up banking, and that worries the Fed
The OCC and the FDIC are at odds on a banking charter for fintech firms.
Fiserv to buy First Data in $22 billion stock deal
Fiserv to buy First Data in a $22 billion all-stock deal.
Goldman dealmakers shine in Solomon’s maiden quarter
Goldman reported $2.3 billion in Q4 profits but perhaps the more interesting news is the $35 billion in deposits that Marcus has gathered.
Swift introduces Pay Later API for instant loan financing
Swift introduces an API standard which will enable banks to provide consumers POS installment loan financing for e-commerce purchases.
KeyBank To Acquire Online Lending Business Laurel Road
KeyBank is acquiring the online lending business of Laurel Road including its technology platform and team.
Fed Says Student Debt Has Hurt the U.S. Housing Market
According to the Fed, rising student debt has led to a drop in homeownership among young Americans.
American Express More Than Doubles Annual Profit
Amex reported $2 billion in net income for Q4 compared with a loss of $1.2 billion a year ago driven by a broad based improvement in the business.
Square takes another step into banking with a debit card for businesses
Square is launching a debit card for businesses that gives them immediate access to sales made on the Square payments system.
Momo, Vietnam’s top payment app, lands big Series C investment led by Warburg Pincus
Momo receives a Series C investment in Momo (which DealsAsia reports could be $100 million.)