Trump Tells Fed to Consider Fintech Access to Payment Accounts

AI

Primer lands $100m Series C, targets US expansion

The London-headquartered fintech will use the cash to further develop its Primer Companion AI agent and build out its team in the US.

How Can Banks Overcome Fear of AI Implementation Failure?

As AI in banking advances, Barb Morgan, Chief Product and Technology Officer at Temenos, explains how banks can capitalise on modernisation

Venture Capital

Fintech firm Mercury hits $5.2 billion valuation after funding round

Mercury, a fintech firm that provides banking services to startups, has raised $200 million in funding at a $5.2 billion valuation, CNBC has learned exclusively.

That valuation is 49% higher than the San Francisco-based company’s previous funding round just 14 months ago, bucking the downturn facing much of the fintech sector.

Payments

Trump tells Fed to consider fintech access to payment accounts

U.S. President Donald Trump signed an executive order on Tuesday calling on regulators and the Federal Reserve to review rules that may ‌be stifling financial innovation, including whether the central bank could expand fintech access to its payment rails, the systems that move money between banks.

The order asks the Fed to join other regulators in reviewing policies that could be updated to support ⁠fintech growth. It also calls on the Fed to examine its approach to granting access to payment accounts and services, and to consider options for expanding such access to fintechs and other non-bank firms.

Security

Cloud-Native Risk Management: FIS Launches Risk Suite on AWS

Global fintech solutions leader FIS moves its Enterprise Risk Suite to Amazon Web Services for cloud-native delivery to decrease disruption

Europe

Chase officially launches digital banking offering in Germany

JP Morgan Chase has officially launched its digital consumer banking offering, Chase, in Germany, debuting a fee-free digital savings account.

The launch follows the US financial institution's announcement last September of its planned entry into the German market. Daniel Llano Manibardo, formerly a regional executive at ING, has been appointed to lead Chase's operations in Germany.