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Wells Fargo managing director Mike Mayo has claimed he expects automation to eliminate over 100,000 banking jobs over the next five years.
iCapital Network, which is helping to drive access and efficiency within the alternative investment sector, has received $440m in funding to hit a $4bn valuation.
RegTech100 company Theta Lake has joined Wells Fargo Startup Accelerator to help its innovation and growth efforts.
Subscription-based InsurTech for homeowners Super closed a $50m in an oversubscribed Series C round of funding led by financial services company Wells Fargo Strategic Capital.
Some of the biggest US banks have signed up for a government-supported pilot program aimed at using alternative data to provide credit for people with low or no credit score.
Forge Global, a private securities marketplace, has netted $150m in funding, alongside getting approval from FINRA to operate as a single broker dealer.
Financial market infrastructure platform Axoni has closed a $31m funding round from a wave of new strategic investors.
Hot on the heels of its $146m funding round in March, investment solution provider iCapital Network has now inked a deal to buy Wells Fargo's Global Alternative Investments (GAI) Feeder Fund Platform.
The US is spearheading the RegTech revolution. So why not find out more about the women leading the charge?
Legalwise, it has not been a great week for Wells Fargo. First it was ordered by a US regulator to pay $14m for failing to uphold conduct standards and then a jury ordered the financial services company to pay $200m for infringing on two patents.