Updates to the letter Sign up for myFT Daily Digest to be the first to know about Letter news. Fractional reserve banking is a system in which only a fraction of bank deposits are backed by cash on hand and available for withdrawal. The system is risky (Opinion of July 23). For hundreds of years, […]
U.S. fintech Galileo announced Monday that it is funding RoarMoney, a new demand deposit account offered by digital consumer finance platform MoneyLion. According to Galileo, RoarMoney is designed to meet the financial needs of consumers today and as they change – from faster access to their funds to safe and secure contactless payment options. RoarMoney […]