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.
Metro Bank, the lender founded by U.S. entrepreneur Vernon Hill, plunged to a record low after it disclosed that British regulators are probing how it misclassified assets, an incident that prompted a share sale.
Metro Bank, the U.K. challenger bank seeking to fix a shortfall on its balance sheet, said it expects to raise about £350 ($464 million) through selling shares.
The country is lagging behind others when it comes to ensure that a consumer’s financial data is available to third parties, and regulators need to step up.
JPMorgan Chase, which employs about 10,000 people in London, has asked "several dozen" employees to relocate across the European Union before the U.K. formally leaves the bloc in March next year.
The authentication software and hardware provider is shifting its focus to identity verification and account onboarding, another sign that the newest generation of bank customers is not interested in coming into a branch to set up an account.
Call it mutual respect. Bankers from mutually owned British building societies and similarly structured U.S. thrifts recently gathered in New England to address common challenges and share ideas about staying relevant at a time of rapid change in financial services. Here are the takeaways from their meetings.
British banks that deal with the Russian oligarchs and companies on a new American sanctions list will face "consequences," according to a senior U.S. Treasury official.
