Square has been aggressively ramping up its marketing costs this year as the COVID-19 pandemic drove increased consumer adoption of new digital finance products. (Photo by Christiann Koepke on Unsplash)
Square has been aggressively ramping up its marketing costs this year as the COVID-19 pandemic drove increased consumer adoption of new digital finance products. (Photo by Christiann Koepke on Unsplash)Payment services provider Square said Monday that it will raise roughly $1 billion from new convertible notes, just days after the fintech revealed it will substantially increase spending on new hires, marketing and potential new acquisitions.

A general view of Pfizer Manufacturing Belgium in Puurs, Belgium, Monday, Nov. 9, 2020. Pfizer said Monday that early results from its coronavirus vaccine suggest the shots may be a surprisingly robust 90% effective at preventing COVID-19. (AP Photo/Virginia Mayo)
A general view of Pfizer Manufacturing Belgium in Puurs, Belgium, Monday, Nov. 9, 2020. Pfizer said Monday that early results from its coronavirus vaccine suggest the shots may be a surprisingly robust 90% effective at preventing COVID-19. (AP Photo/Virginia Mayo)Charles Schwab, TD Ameritrade and Merrill Lynch brokerage clients reported service outages on Monday as news of coronavirus vaccine developments sent stocks soaring to all-time highs.

In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York. (AP Photo/Richard Drew, File)
In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York. (AP Photo/Richard Drew, File)JPMorgan Chase has opened north of 120 branches this year and will continue to plow ahead with expansion while many smaller rivals opt to shutter brick-and-mortar locations amid a pandemic-accelerated shift to digital banking, an executive said.

Centene said Monday it has entered into an agreement to acquire health care analytics company Apixio in a move that will provide the health insurer with artificial intelligence options to add to its technology lineup.

Goldman Sachs Chairman and CEO David Solomon testifies before the House Financial Services Committee during a hearing in Washington, D.C. (AP Photo/Patrick Semansky, File)
Goldman Sachs Chairman and CEO David Solomon testifies before the House Financial Services Committee during a hearing in Washington, D.C. (AP Photo/Patrick Semansky, File)AccessFintech, a startup that specializes in supply chain management for financial firms and is backed by several major banks, said Monday that it is teaming up with investor Goldman Sachs to offer a service meant to make the cash settlement of derivatives more convenient.

Children are learning more about money during the pandemic without actually having cash in hand. (AP Photo/Kelvin Chan)
Children are learning more about money during the pandemic without actually having cash in hand. (AP Photo/Kelvin Chan)Fintech Strive formally launched in the U.K. on Friday as a"challenger bank" with plans to appeal to famlies by offering products geared at children, including special debit cards and savings accounts.

The Oslo Opera House in Oslo, Norway, the city where Norges Bank is headquartered. (Photo by Oliver Cole on Unsplash)
The Oslo Opera House in Oslo, Norway, the city where Norges Bank is headquartered. (Photo by Oliver Cole on Unsplash)A Norwegian central bank official raised alarm over the possibility of central bank digital currencies spurring possible instability in the financial system, joining a chorus of global officials urging caution on moving forward with digital currency proposals.

Blackstone is a major backer of Paysafe Group. (AP Photo/Mark Lennihan)
Blackstone is a major backer of Paysafe Group. (AP Photo/Mark Lennihan)Paysafe Group, a payment services company backed by private equity firms Blackstone and CVC, is in talks to combine with a special purpose acquisition company supported by dealmaker Bill Foley, Bloomberg reported on Friday.

Two horse-pulled chariot sculptures are seen on top of the BBVA bank in Madrid. (AP Photo/Paul White)
Two horse-pulled chariot sculptures are seen on top of the BBVA bank in Madrid. (AP Photo/Paul White)BBVA’s Turkish unit is rolling out several new mobile banking features including a gold investment function, the nation's second-largest private bank said on Friday, as customers seek to protect their savings from rising inflation.

In this Friday, Oct. 23, 2020, photo, an employee sits at the Ant Group office in Hong Kong. (AP Photo/Kin Cheung)
In this Friday, Oct. 23, 2020, photo, an employee sits at the Ant Group office in Hong Kong. (AP Photo/Kin Cheung)China’s senior financial regulators said the country will take a more “uniform” approach to supervising fintechs, just days after the government blocked Ant Group’s record $34 billion public initial offering.

A man walks past ICICI Bank in Mumbai, India, Jan. 31, 2012. (AP Photo/Rafiq Maqbool)
A man walks past ICICI Bank in Mumbai, India, Jan. 31, 2012. (AP Photo/Rafiq Maqbool)ICICI Bank is looking to attract India’s huge millennial population with a set of offerings that leans toward simplicity and digital-first banking and loan products, as well as a physical location targeted at the age bracket.

In this photo, a woman walks below a Google sign on the campus in Mountain View, Calif. (AP Photo/Jeff Chiu, File)
In this photo, a woman walks below a Google sign on the campus in Mountain View, Calif. (AP Photo/Jeff Chiu, File)India plans to limit the share of transactions that can be managed by third-party processors on the country’s most popular digital payments platform, prompting Google, a top player in the rapidly growing space, to warn that the move could stifle innovation.

The Golden Gate Bridge and San Francisco skyline from the Marin Headlands above Sausalito, Calif. (AP Photo/Eric Risberg, File)
The Golden Gate Bridge and San Francisco skyline from the Marin Headlands above Sausalito, Calif. (AP Photo/Eric Risberg, File)SoFi co-founder and former CEO Mike Cagney, ousted from the fintech over a sexual harassment scandal, has applied for a national bank charter for his own blockchain lending startup.

The logo hangs outside a branch of Lloyds Bank in London, Thursday, Jan. 28, 2016. (AP Photo/Kirsty Wigglesworth)
The logo hangs outside a branch of Lloyds Bank in London, Thursday, Jan. 28, 2016. (AP Photo/Kirsty Wigglesworth)The U.K.’s largest commercial lender Lloyds Bank and London-based working capital fintech Demica said Friday that they teamed up on a new supply chain finance platform for Britain’s businesses, as such projects pose increasing appeal during the COVID-19 pandemic.

In this photo, new buildings form part of the skyline in Boston's Seaport district. (AP Photo/Steven Senne)
In this photo, new buildings form part of the skyline in Boston's Seaport district. (AP Photo/Steven Senne)Two years from its acquisition of financial services provider Charles River Systems, Boston-based State Street is relying on the platform for new client growth after a disappointing third quarter amid the continued COVID-19 pandemic.

Pleasanton, California, home of cyber insurtech Cowbell. (Michael C. Berch/Creative Commons)
Pleasanton, California, home of cyber insurtech Cowbell. (Michael C. Berch/Creative Commons)Cyber insurtech Cowbell partnered with Mylo, a digital selling tool created by Lockton, the world’s largest private insurance broker, to expand its reach with small business clientele.

“We want to put more force behind some of the trends that we’ve seen within our space, such as artificial intelligence and also cryptocurrency, specifically Bitcoin,” Square CEO Jack Dorsey said. (Photo by Dmitry Demidko on Unsplash)
“We want to put more force behind some of the trends that we’ve seen within our space, such as artificial intelligence and also cryptocurrency, specifically Bitcoin,” Square CEO Jack Dorsey said. (Photo by Dmitry Demidko on Unsplash)Square Chairman and CEO Jack Dorsey suggested that the fintech may increase its bet on Bitcoin and other cryptocurrencies next year, after its consumer digital wallet platform booked a record $1.63 billion in third-quarter Bitcoin sales.

WhatsApp got permission to operate its payments service in India.(AP Photo/Martin Meissner, File)
WhatsApp got permission to operate its payments service in India.(AP Photo/Martin Meissner, File)WhatsApp received approval from regulators in India on Thursday to expand operations of its payments service across the country, following months of setbacks in the long-anticipated rollout of the platform.

People gather in a bar with the skyline of Barcelona in the background. (AP Photo/Manu Fernandez)
People gather in a bar with the skyline of Barcelona in the background. (AP Photo/Manu Fernandez)A group of Spanish banks and insurance companies that includes Banco Santander, CaixaBank and Mapfre said on Thursday that they have partnered to work on a digital user identity based on blockchain, an offering that is meant to offer personal-data control and simplicity when signing up for services.

This June 19, 2015 photo shows the U.S. Securities and Exchange Commission building, in Washington. (AP Photo/Andrew Harnik)
This June 19, 2015 photo shows the U.S. Securities and Exchange Commission building, in Washington. (AP Photo/Andrew Harnik)U.S. personal lending startup Upstart wants to raise up to $100 million in an initial public offering, making it the latest fintech trying to capitalize on red-hot capital markets.