Big banks get into embedded finance; credit unions buy banks
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
Embedded finance opportunities beckon large banks: The rise of ecommerce and vertical software-as-a-service platforms are prime opportunities for large banks to sell payment processing, card issuance and other banking capabilities.
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Streak of bank sales to credit unions heats to record pace: Atlanta Postal Credit Union's bid to acquire Affinity Bank marked the 11th deal overall this year involving a credit union buying a bank, matching the total for all of 2023. Separately, members voted against the merger of two credit unions in Indiana.
Coming up in 3 weeks: Join us to learn about the Bank of the Future at our?Digital Banking Conference , June 24-25 in Boca Raton, Florida.
City National shows progress, offers 18-month timeline for turnaround: The beleaguered Los Angeles-based bank reported its strongest quarterly results in more than a year, but executives at its Canadian parent company cautioned that improvements may not be linear.
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The state of self-checkout at major retail stores: Retailers like Walmart, Target and Dollar General are changing the ways they collect payments in person. This, in turn, could influence payment habits, but it is unlikely to slow the overall momentum of digital transactions.
Does Numisma open or close the door for more novel banking charters? Numisma, a Connecticut-chartered uninsured bank, was granted a Federal Reserve master account last week — the first bank with a novel charter to do so since the Fed issued its master account guidelines in 2022. Whether others can do the same is an open question.
American Banker news quiz: June 3. In this edition of the American Banker news quiz, test yourself on topics such as Visa and Mastercard's shift away from relying on interchange, the Federal Reserve's efforts for balance sheet reduction, which financial services sector consumers trust the most and more.