Illinois bank taps a partner to help launch trust business
Rosemont, Illinois-based Signature Bank has recently launched Signature Trust, a new trust division, in response to a surge in trust-related enquiries from clients. The bank, which primarily serves family-owned small businesses and legal firms, previously lacked the necessary trust capabilities and was required to refer clients to third-party companies, a practice that was far from […]
Varo raises $124 million despite widening net losses
Varo Bank Secures $123.9 Million Amidst Balance Sheet Contraction Varo Bank, a San Francisco-based neobank, announced on Monday that it had secured $123.9 million in new capital, providing a much-needed boost as the bank continues to grapple with net losses despite a record high in operating income. This announcement comes days after the bank released […]
NewEdge snags 24-person, $1.4B team from Ameriprise
NewEdge Capital Group Expands RIA Channel with Acquisition of ClearTrust Wealth Advisors NewEdge Capital Group has made a significant move in expanding its channel for Registered Investment Advisors (RIAs) with the acquisition of a 24-person team from Ameriprise. This mammoth team, previously affiliated with ClearTrust Wealth Advisors, brings a wealth of experience and expertise to […]
Flagstar returns to profitability | Banking Dive
Flagstar Bank’s Remarkable Turnaround Two years after a surprise loss nearly locked Flagstar Bank into a death spiral, the Long Island-based lender has returned to profitability, as reported in the fourth-quarter earnings report released by the bank on Friday. Flagstar reported a net income of $29 million between October and December, marking a significant improvement […]
2026: The year BFSI shifts from modernisation ambition to governed intelligence
In the year 2026, the Banking, Financial Services, and Insurance (BFSI) sector is predicted to undergo substantial modernisation. This transformation will be driven by the need for AI sovereignty, model governance, and controlled Agentic AI deployment. The BFSI industry is shifting from exploratory pilots in cloud, AI, automation, and modernisation towards operationalised, compliant, and measurable […]