Banking

Known for giving away its signature canary-hued Converse to employees and clients, this small API-centric fintech is poised to become a significant player in open banking thanks to parent company Mastercard and its vendor status with Fannie Mae and Freddie Mac.

For just $1,000, clients can sign up for the firm’s purely digital automated advice service.

Given the current nest egg shortfall in America, and that $1.7 trillion may not move the needle, Bloomberg’s Nir Kaissar says the message to save is key.

The CEO of Chase Consumer Banking and a member of JPMorgan’s leadership team, Thasunda Brown Duckett has been tapped to replace Roger Ferguson as CEO of the retirement services provider.

Unsecured personal lending has fallen as many consumers have stashed away cash and paid down credit card balances during the pandemic. The trend probably won’t reverse course anytime soon.

The automated investing tool is part of Goldman Sachs's effort to be a full-service digital bank and to help partners like Apple and Stripe offer financial products, according to Stephanie Cohen, global co-head of consumer and wealth management.

Banks weren't involved in the trading frenzy, but some observers say the regulatory response should address risks to all financial institutions.

In the new Form CRS, firms must justify whether they place client assets in advisory or broker accounts.

Acquisitions of wealth management, insurance, fintech and other firms are expected to pick up as banks seek new sources of fee income and look to improve digital capabilities.