Swift aims to be a bridge for digital currencies
The international messaging system is participating in projects that test or develop central bank digital currencies, with a goal of making them interoperable.
Source: americanbanker.com
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Marqeta makes a $275 million bet on embedded finance
The company's first-ever acquisition, of Power Finance, will allow it to fuel a banking-as-a-service model for credit cards and other financial products under the direction of its new CEO, Simon Khalaf.
Source: americanbanker.com
Bread in the red: Loan charge-offs offset strong revenue
The company formerly known as Alliance Data Systems produced strong fourth-quarter sales, but was unable to report a profit due to factors such larger loan-loss reserves for its acquisition of the American Automobile Association's credit card portfolio.
Source: americanbanker.com
Visa's CEO: Falling fintech valuations a 'helpful characteristic'
While not committing to any specific strategy, the card network may find opportunity in the merger and acquisition market, CEO Al Kelly said.
Source: americanbanker.com
Despite headwinds, Mastercard reports strong consumer spending
The card network sees digital payment opportunities and upside from China's reopening, but inflation and the slower pace of travel spending could slow growth.
Source: americanbanker.com