Explore financial systems, trends, and expert advice to manage money and understand tech's impact on finance.
Banking
Deep within JPMorgan Chase’s data centers, an artificial intelligence project is quietly reshaping the world’s largest bank. Known as LLM Suite, the platform is designed to harness large language models (LLMs) from leading AI developers, including OpenAI and Anthropic, and bring them directly into the bank’s workflows.
Banking
Pittsburgh-based PNC Financial Services Group announced Monday it will acquire FirstBank Holding Co., a privately held Colorado lender, in a $4.1 billion cash-and-stock deal designed to expand PNC’s footprint in the western United States and push its coast-to-coast ambitions. The acquisition will add nearly 100 branches in Colorado
Finance
After years on the sidelines, Citi is stepping back into the premium credit card arena with the launch of its new Strata Elite Card, a direct answer to Chase’s Sapphire Reserve and the American Express Platinum Card. With a clear focus on travel, dining, and high-end perks, Citi is
Banking
Revolut, one of Europe’s leading fintech firms, is reportedly seeking a new funding round that could push its valuation to an impressive $65 billion, according to a recent report from the Financial Times. The London-based company is said to be in advanced discussions to raise approximately $1 billion through
Artificial Intelligence (AI)
Stripe, the global fintech powerhouse, made a splash at its annual Stripe Sessions event on Wednesday, unveiling a wave of new products and capabilities that signal its growing ambition in AI, digital payments, and global financial infrastructure. AI-Powered Payments Take Center Stage Leading the announcements was the launch of Stripe’
Finance
Plaid, the fintech infrastructure company that powers connectivity between consumer bank accounts and financial apps, has confirmed it raised approximately $575 million through a common stock sale at a $6.1 billion post-money valuation. The deal, led by Franklin Templeton and joined by heavyweights including Fidelity, BlackRock, NEA, and Ribbit
Funding
Seattle-based venture capital firm Madrona Capital is marking its 30th anniversary with a significant milestone: raising $770 million in fresh capital, its largest fundraise to date. This achievement surpasses the $690 million raised across two funds in 2022, highlighting the firm’s enduring appeal to investors, even in a challenging
Economy
A Pew Research poll in 2024 revealed that only 23% of Americans viewed the U.S. economy positively. However, data from the Bureau of Economic Analysis (BEA) painted a different picture, showing the economy grew from $27.72 trillion in 2023 to $29.17 trillion in 2024. With more income
Finance
Credit card debt in the United States has reached unprecedented levels, with significant variations across different states. As of the third quarter of 2024, the average credit card balance per cardholder was $6,380, marking a substantial increase from previous years. Top 3 States With the Highest Credit Card Debt
Real Estate
The average rate for a 30-year fixed mortgage in the United States has dipped slightly to 6.81%, offering a small relief to prospective homebuyers amid a challenging real estate market. This follows a modest decline from the previous week's rate of 6.85%, according to data released
Construction
The U.S. faces a massive housing shortage, with millions of homes needed to meet growing demand. However, builders are struggling to deliver. A combination of rising costs, labor shortages, and regulatory hurdles is stalling construction, even as home prices soar. The Housing Crisis in Numbers The U.S. currently
Small Business
President Donald Trump's policies have significantly influenced small business borrowing in the United States. His administration's approach to taxation, regulation, and trade has created both opportunities and challenges for small business owners seeking financing. Tax Policies and Incentives The 2017 Tax Cuts and Jobs Act, enacted