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This Sequoia Capital-Backed Neobank Raised $750M To Scale Operations

CB Insights

The round drew participation from Sequoia Capital, Tiger Global Management, General Atlantic, SoftBank Group, and Dragoneer Investment Group. California-based Chime collaborates with regional banks to create member-centric financial products, coining itself as a financial technology firm rather than a bank. Want the full post?

Capital 78
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Federal Banking Regulators Seek Comments for Additional Capital for Large Banks

Perficient

The FRB and FDIC are looking to improve financial stability by limiting contagion risk ( the spread of an economic crisis from one market or region to another) by reducing the likelihood of uninsured depositors suffering loss. Current Capital Requirements. The current long-term debt calibration for U.S. of total leverage exposure.

Capital 275
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Amazon Seeks 100K Workers For Operations Roles

PYMNTS

As it plans to bring 100 new operations facilities online in September, Amazon announced on Monday (Sept. The eCommerce retailer indicated that it has opened more than 75 new facilities, including regional air hubs, sortation centers and delivery stations, in the U.S. and Canada this year.

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Boost Broadens Biz Card Network To 30 Regions

PYMNTS

4) said Boost Payment Solutions is expanding its commercial cards network to new regions around the world, a move the company said would strengthen its international acquirer relationships and broaden the reach of its straight-through processing (STP) solution, Boost Intercept. A press release Wednesday (Sept.

Regional 108
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Why Venture Capital Is Accelerating In Asia — Why It’s Different From The Valley

PYMNTS

Despite the pandemic, venture capital dollars are flowing freely to nascent firms in Asia that are tackling the need for contactless interactions and platforms that match supply and demand — setting the stage for innovation on the other side of the public health crisis. Many of them are government, corporate or university led, Dixon said.

Capital 298
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Square Capital Distributed 76K PPP Loans Totaling $820M

PYMNTS

Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported. Last year, Square Capital did $2.3 Of that number, 60 percent of the borrowers had never before received a loan through Square Capital.

Capital 141
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What Relationship Pricing Means for Bank Performance

South State Correspondent

The Issue with Relationship Pricing and Profitability The US banking industry has been unable to consistently earn a return on capital equal to its average cost (approximately 11% over the last few decades). Banks can then calculate SVA by subtracting their cost of capital from net operating profit after tax for each client.

Resources 195