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Site title: Tearsheet – Authority, insight and honesty on the financial services industry and money.

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Cross-border payments have a structural problem. A transaction that crosses borders typically travels through two, three, or four correspondent banks before reaching its destination – each one adding time, cost, and opacity. Most consumers and businesses have accepted this as a given. Wise has spent 14 years arguing it shouldn’t be.

Over the pas...


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Big banks are rebuilding consumer banking on their own terms.

Leading US banks are overhauling their consumer banking businesses in varied ways. It’s not another wave of ‘banks go digital’ hype. It’s a...


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In January 2026, U.S. Bank announced the launch of a generative AI assistant on its developer portal to accelerate and improve partner API integrations. Just last week, the bank closed its deal for Amazon’s small-business credit card portfolio – viewed internally as both a portfolio expansion and a way to reach more SMBs. Around the same time, it also extended home-im...


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The pressure building on commercial banks today comes from several directions at once. Corporate treasurers are younger, more digitally native, and less tolerant of manual reconciliation. Business structures are more complex: A franchisee group running fifty locations needs fifty entities managed cleanly, not fifty separate bank accounts generating a month’s worth of reconcil...


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For two decades, Squarespace has been the platform entrepreneurs turn to when they want to build something that looks like they hired a designer. But over the past few years, something has changed. Squarespace has been building a financial stack. Payments launched in 2023. Capital followed in 2025, offering merchants flexible financing based on their sales history. And just t...


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