Financial services technology company FIS has agreed to buy Worldpay in a deal valued at $43 billion, which allows FIS to counter the transaction processing scale Fiserv received when it acquired First Data earlier in 2019. The merger price is based on a $34 billion bid plus $9 billion of Worldpay's debt.
BB&T-SunTrust deal came together with remarkable speed; Citi and Chase take on fintechs at their own game; CECL spells trouble for small banks, consumers; and more from this week’s most-read stories.
Chime, Chart IQ, Starling Bank and several other startups have raised millions of dollars from venture capital and private-equity firms this year. Here's what they plan to do with their haul.
Leading investors say too many traditional financial institutions, out of their depth in fintech investment, end up placing controls that slow down otherwise nimble young companies.
Flourish, a fund backed by Pierre and Pam Omidyar, invests in startups that address social and financial inequities yet (key caveat) are still promising moneymakers, a top official of the fund explains.
Royal Bank of Canada's Dave McKay told investors on Tuesday that he's increasingly worried about the so-called FANG companies — Facebook, Amazon.com, Netflix and Google parent Alphabet — getting into banking.
The rewards card offered by the fintech Stash will let users accumulate stock of companies at which they frequently shop. The company said Tuesday that it has raised $65 million from investors and will offer the card in partnership with Green Dot.
