DriveWealth purchased Cuttone & Company

What to read today: The Payments Ecosystem: Insider Intelligence examines the payments ecosystem today, as well as the pandemic's impact on growth drivers and the industry's future. The report traces the path of in-store and online payments from processing to settlement across key stakeholders. It then unpacks pandemic-driven changes in usage of various payment methods, and forecasts growth and defines drivers for key digital payment channels and transaction types as the pandemic accelerates digitization..

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January 23, 2021 DriveWealth sets up shop on NYSE floor with Cuttone & Co. acquisition. US-based API platform DriveWealth purchased institutional broker-dealer Cuttone & Company. DriveWealth experienced strong 2020 growth thanks to the surge in fractional share trading, funding its war chest to pursue the acquisition. And with the acquisition, DriveWealth can further blur the lines between institutional and fintech brokers, enhancing its value proposition. Fintechs can now leverage DriveWealth's platform to offer retail investors access to institutional-level trading services. Insider Intelligence's Victor Chatenay has the full story. BRIEFING HIGHLIGHTS BofA Q4 earnings missed the mark, but digital engagement rose Bank of America countered lower-than-expected Q4 2020 earnings as interest rate cuts and tempered demand for consumer loans squeezed margins. Read More → Kroger tests Caper's smart shopping carts to expand digital solutions Kroger and Caper partnered to introduce a smart shopping cart offering for Kroger customers—enabling Caper to extend its reach in autonomous checkout.. Read More → Ecommerce provided major boost for December retail sales There could be brighter days ahead for the retail sector, with another round of stimulus payments likely underway and vaccine distribution ramping up. Read More → Revolut enhances super app with broadened insurance offerings Revolut's partnership with Chubb demonstrates its strategy of shaping itself into a hub that caters to its customers' full financial lives. Read More → What a Biden administration could mean for the payments industry Insider Intelligence outlined what Biden's presidency may mean for the payments industry as well as consumer spending and small business recovery. Read More → Why Chase should make engagement more important than acquisition Chase's overall new active mobile banking users leveling out suggests it should prioritize engagement among existing users. Read More → Foresters Financial to roll out IoT-enabled well-being platform Foresters Financial is partnering with an insurtech on an IoT-enabled platform that promotes healthy lifestyle choices. Read More → European alt lenders strike multimillion-dollar funding lines European alt lenders Nucleus and creditshelf have secured multimillion-dollar funding lines to ease SMB financing. Read More → Here's who stands to benefit most in the age of embedded finance The benefits available to FIs that facilitate embedded finance are almost irresistible—but pursuing them comes with risks. Read More → BofA, Citi, Chase, Wells Fargo see card volume improvement in Q4 Bank of America, Citi, JPMorgan Chase, and Wells Fargo reported slight improvements in card volume growth in Q4. Read More → RESEARCH IN FOCUS The Payments Ecosystem Insider Intelligence examines the payments ecosystem today, as well as the pandemic's impact on growth drivers and the industry's future. The report traces the path of in-store and online payments from processing to settlement across key stakeholders. It then unpacks pandemic-driven changes in usage of various payment methods, and forecasts growth and defines drivers for key digital payment channels and transaction types as the pandemic accelerates digitization. Get the full report → AI in Insurance Insider Intelligence assesses the business impact of forward-looking insurers implementing AI in their front, middle, and back offices, with real-world examples of each. The report then explores the key risks arising from AI use that insurers need to keep in mind. Get the full report → The Embedded Finance Explainer This report defines the concept of "embedded finance" and explains its potential impact on how financial services and products are distributed and consumed. It also provides real-world examples to illustrate how embedded finance works in practice. Get the full report → BECOME A SUBSCRIBER Did you know the Daily is just a preview of everything Business Insider Intelligence has to offer? Our Briefing subscriptions deliver analysis on the biggest trends and decisions shaping the future of a specific industry. Stay on top and subscribe today to receive: A cornerstone industry report Daily Morning newsletters Opportunities to join the conversation Get Started Today → FOLLOW US Email sent to: nguyenvu1187.love5@blogger.com Manage your email preferences  |  Unsubscribe  |  Terms of Service  |  Privacy Policy © 2021 Insider Inc. 1 Liberty Plaza, New York, NY 10006