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- First Citizens Bank & Trust Co. reached an agreement with the Federal Deposit Insurance Corp. to buy Silicon Valley Bridge Bank after a competitive bidding process. Terms include FCB’s assumption of $110 billion in assets, $56 billion in deposits, and $72 billion in loans. Starting Monday, the 17 SVB branches will operate as Silicon Valley Bank, a division of First Citizens Bank.
- Financial institutions using real-time transactions platform Pidgin can access fraud-monitoring services from Effectiv under a new agreement. The agreement comes as the Federal Reserve’s FedNow real-time payments network prepares to launch in July.
- Global Payments Inc. completed its $4 billion acquisition of merchant processor EVO Payments Inc.
- Onbe, a disbursements fintech, launched Send to Wallet, a service that lets users add a virtual card to a mobile wallet from a Web browser without having to download an app or enter bank details.
- Canadian food-delivery app Cookin announced a promotion in which American Express cardholders in Toronto can receive a $50 Cookin statement credit.
- RevoluGroup Canada Inc. said its RevoluPOS point-of-sale payment technology, aimed at small businesses, will offer prospects the ability to conduct two to three trial transactions of up to 250 euros without completing formal sign-up and compliance steps.
- Fraud-prevention provider Signifyd said it achieved Platinum Partner status in the Adobe Technology Program for Experience Cloud.
- Bolt Financial Inc., a developer of fast checkout technology, said its One-Click Checkout app has been endorsed by SAP, the Germany-based software developer.
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