Category: Finance

Dive Brief: Wakefern Food, which runs grocery banners such as ShopRite, Price Rite and Fairway Market, has opened an autonomous convenience store with frictionless checkout technology from Trigo at its corporate campus in Edison, New Jersey, the East Coast retailer cooperative said Tuesday in an emailed press release. Called The Pantry, the store is a […]

Dive Brief: U.S. payments startups lured venture capitalists to more fundraising rounds than any other part of the world during last year’s fourth quarter, but it trailed other parts of the world in dollars raised, according to a CB Insights report released Wednesday. The U.S. tallied 65 payment startup investments, 35% of the world’s 188 overall, […]

Dive Brief: Amid possible consolidation in the buy now, pay later sector, New York-based installment payment provider Splitit is on a path to acquire technology assets. “We’re not looking to be acquired,” CEO Nandan Sheth said in an interview at the National Retail Federation conference in New York on Tuesday. “We are interested in [acquiring] potentially […]

Dive Brief: Payoneer has named Webster Bank alum Bea Ordonez as its deputy CFO with the expectation that the board will appoint her to succeed the company’s current CFO, Michael Levine, after he steps down from the role in March, according to a Wednesday press release. Levine, an 11-year company veteran, will stay on at the […]

The mergers and acquisitions landscape in 2023 could be promising for banks on the hunt for fintech deals, experts say. Following a challenging year for the fintech sector, which has experienced a global drop in funding and mass layoffs, enterprising banks may be able to acquire startups whose previous valuations put them out of reach […]

Grasshopper Bank is partnering with Ramp to give the digital bank’s customers access to corporate cards and financial automation software, the company announced Wednesday. The $600 million-asset bank will offer small and midsize business clients access to Ramp’s platform, including its virtual and physical corporate cards based on referral, the New York City-based bank said. […]

When Atlanta-based private equity firm ACRE found out the 400-unit multifamily property it bought in Houston four years ago had been allowing about 80 residents to split their monthly rent into two payments, the regional manager wanted to put an immediate halt to the practice. ACRE COO Melanie Gersper told her to hold up; she […]

The Federal Reserve and the Office of the Comptroller of the Currency approved Bank of Montreal’s $16.3 billion acquisition of San Francisco-based Bank of the West, the regulators announced Tuesday. The combination will create the 13th-largest U.S. commercial bank with roughly $256 billion in assets, according to OCC figures. That would put it squarely in […]

The six largest U.S. banks have until July 31 to submit data to the Federal Reserve, to be used in the central bank’s pilot climate scenario analysis, the Fed said Tuesday. JPMorgan Chase, Bank of America, Citi, Wells Fargo, Goldman Sachs and Morgan Stanley must detail the impact two natural disasters — within the span […]

Dive Brief: Banks whose size inhibits their abilities to address internal weaknesses and comply with regulations may need to be broken up, the acting head of the Office of the Comptroller of the Currency said Tuesday. The size and complexity of such “too-big-to-manage” banks can cause risk management breakdowns and negative surprises to occur too […]