The president's big loan from, and sizable deposits with, Professional Bank in Boca Raton have raised some eyebrows. But the bank's chairman says it recruits relationship bankers from larger rivals to get just these kinds of customers.
A Wells Fargo customer was interrogated, fingerprinted and mistakenly arrested for check forgery after a series of mistakes on the bank's part. He was cleared, and Wells says it made an error, but they are now fighting in civil court.
In his first extensive interview since taking the job this year, Javier Rodriguez Soler talks about banking as a service, how to keep customers happy and where he sees AI and other tech innovations heading.
Leaders in bank innovation have ideas for improving financial services with high-speed, highly responsive 5G networks — ideas they say could be implemented relatively quickly.
The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter.
The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.
The Silicon Valley partnership represents an extension of — but also a departure from — the consumer strategy that Goldman has been pursuing since the launch of its digital consumer bank, Marcus.
Given the size of the deal — which includes about $9 billion of Worldpay’s debt on top of a $34 billion bid — the pressure’s on to build a global powerhouse that can counter other major fintech mergers announced in the past weeks. FIS must also emerge as a nimble rival to the startups that threaten the old order.