Banking Industry News
A collection of Banking latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Banking-as-a-service startup Unit closes on $100M at a $1.2B valuation
Image Credits: Bryce Durbin / TechCrunch Unit, a banking-as-a-service startup, has closed on a $100 million Series C round of funding led by Insight Partners. Existing backers Accel, Better Tomorrow Ventures, Aleph, and Flourish Ventures also…
Insight Bet Values Banking Software Startup Unit at $1.2 Billion
Insight Partners led a $100 million equity funding round that values financial-technology startup Unit at $1.2 billion, almost quintuple the $255 million it last commanded. New York-based Unit, which makes software that allows companies to offer…
The hunt for Goldilocks: central banks search for neutral rates
Getting the balance between growth and inflation just right is fraught with difficulty Receive free Monetary policy updates We'll send you a myFT Daily Digest email rounding up the latest Monetary policy news every morning. Almost all central…
Credit unions are acquiring community banks-here's why
A Michigan-based credit union becomes the seventh this year seeking to acquire a community bank. ommunity bankers say credit unions are abusing their tax-exempt status to outbid banks in acquisitions and derive an unfair competitive advantage.
Dutch central bank chief raises prospect of 0.5% ECB rate rise in July
Euro rises after Klaas Knot becomes first council member to suggest faster rate increases Receive free European Central Bank updates We'll send you a myFT Daily Digest email rounding up the latest European Central Bank news every morning. The…
UK cloud banking fintech Thought Machine doubles valuation to $2.7bn
Unicorn brings Morgan Stanley on board as client and investor We'll send you a myFT Daily Digest email rounding up the latest Fintech news every morning. London-based fintech Thought Machine has doubled its valuation to $2.7bn as the cloud banking…
Manchin Says He'll Back Barr as Fed's Chief Banking Supervisor
Senator Joe Manchin says he will support Michael Barr's nomination to be vice chair of supervision at the U.S. Federal Reserve, adding key support for the Treasury Department veteran as President Joe Biden continues working to fill central bank…
Sachin Bansal's firm fails to secure India bank permit
Image Credits: MONEY SHARMA / AFP / Getty Images The Indian central bank has rejected the application of Chaitanya India Fin Credit seeking permission to become a bank in a major setback to Flipkart billionaire Sachin Bansal, who has been looking…
The Tories are trying to blame the Bank of England for our economic crisis
Viewers of the Treasury Select Committee's evidence session yesterday were treated to the uncomfortable spectacle of MPs trying to persuade officials from the Bank of England that the imminent arrival of double-digit inflation and a global economic…
The Scion Of A Banking Family Crafts A Fintech Future
Luvleen Sidhu's first job in finance was at Lehman Brothers. It was 2008, the year the investment bank, founded in 1847, went bankrupt. “I called and asked, should I come in?” Sidhu told me in a recent interview. Yes, she was told. So…
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Macron told Israel's Bennett he is concerned about West Bank settlement plans
PARIS, May 17 (Reuters) - French President Macron on Tuesday told Israel's Prime Minister Naftali Bennett about his concerns over the country's latest announcements on settlements in the West Bank, the Elysee said in a readout after the two…
Cash holdings by investors surge on stagflation fears: Bank of America
Investors have boosted cash holdings to the highest level since September 2001, Bank of America said Tuesday. The 'extremely bearish' fund managers survey showed stagflation fears have increased. The top tail risk for markets is hawkish central…
How 29-year-old Amanda Robson went from Canadian immigrant trying to break into investment banking to the youngest partner ever at Cowboy Ventures
Robson became the first internal promotion to partner at Cowboy Ventures. She spent years in investment backing before turning to early-stage startup investing. Robson, a Toronto, Canada native, cold-called potential employers to find her first job…
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EXCLUSIVE ECB's Lagarde gives national central bank chiefs louder voice on policy
FRANKFURT, May 17 (Reuters) - European Central Bank President Christine Lagarde has given national central bank chiefs a bigger say in policy meetings, asking her own board to speak less and set aside more time for debate, sources familiar with the…
Fed's Bullard Says Markets Have Priced in Central Bank Tightening
Federal Reserve Bank of St. Louis President James Bullard reiterated Tuesday that the U.S. central bank is on track for half-percentage-point rate rises at the next couple of policy meetings. “We have a good plan for now” and it's up…
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