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US Banks Expected To Lose 200K Jobs To Technology

PYMNTS

In the next 10 years, as robots and other tech bring about the “greatest transfer from labour to capital” the industry has witnessed, per a report by Wells Fargo analysts, U.S. Mayo said, according to the outlet, “It’s been a rocky 25-year marriage for banking and technology, but it’s finally getting on course.”.

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FinTech Cloud Technology Fuels Banking Innovation

PYMNTS

As cloud technologies emerge to help financial institutions (FIs) drive digital innovation, Finastra has introduced its Fusion Payments To Go offering for small and medium-sized banks. By adopting Vault, we unlock new possibilities to deliver a seamless banking experience that will inevitably help us reach more customers.”. million.

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Drip Capital Aims To Create Trade Finance Network For Cross Border Buyers, Suppliers

PYMNTS

And enter Drip Capital , the middleman that serves as the financial grease that enables trade to flow, easing concerns of both buyers and suppliers. said Pushkar Mukewar , co-founder and CEO of Drip Capital in a conversation with PYMNTS’ Karen Webster. When you think of any cross-border transaction — let’s say an importer in the U.S.

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Capital One To Focus On Digital, Close 37 Locations

PYMNTS

Capital One is going to increase its focus on digitization and close 37 branches around the U.S., Our customers are increasingly engaging with us digitally,” said Capital One spokesman Derek Conrad. Banks like Bank of America, JPMorgan, Zions Bancorp and Huntington Bancshares have all been spending on technology upgrades.

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Fintechs seek US government funds to help make business loans

Bank Innovation

Financial-technology firms including PayPal Holdings Inc. Industry group Financial Innovation Now urged Congress in a letter to provide capital to online lenders including PayPal and Square Inc., are lining up to help speed lending to small businesses during the coronavirus crisis — and are pushing for a slice of emergency U.S.

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UK BaaS Railsbank Closes $37M Funding Deal To Support US Growth

PYMNTS

banking-as-a-service (BaaS) Startup Railsbank closed a $37 million funding deal co-led by MiddleGame Ventures and Ventura Capital. Also participating in the round were Anthos Capital, Global Brain, Clocktower Technology Ventures, Moneta VC, Mitsui Fudosan and Firestartr. “We

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Here Is How To Calculate Your Bank’s Cost Of Capital [Calculator]

South State Correspondent

the As interest rates go back up and volatility continues to remain high, banks’ cost of capital has undergone a significant shift up. Your cost of capital is essential to know for several reasons. Produce over your cost, and you will be able to attract more capital. Why Calculate Your Cost of Capital?

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