Visa vs. Mastercard: Who had a stronger quarter?

Member Exclusive, The Quarterly Review

The Quarterly Review: BNY’s Carl Slabicki is pushing toward practical innovation

• Carl Slabicki is Head of Commercial for Global Payments & Trade at BNY, where he leads client strategy across payments, liquidity, and trade for the firm's global commercial clients.
• This quarter, Slabicki is focused on connecting capabilities across BNY, driving practical modernization, and grounding conversations around digital assets and AI in client execution.

Member Exclusive, Opinion

The infrastructure paradox: The better you become, the harder customers are to keep

• Financial infrastructure is becoming part of the business itself, changing what customers are willing to outsource.
• Providers now have to grow with their customers and keep expanding their value as those customers begin to question how much of the stack they should continue to outsource.

Business of Fintech, Member Exclusive

Financial firms are building new businesses from the layers beneath their products

• Intuit is opening up its financial intelligence to AI agents, while SoFi is making its infrastructure programmable.
• Both firms are betting that the layers beneath their products can become businesses in their own right, creating value across new interfaces, businesses, and customer relationships.

Business of Fintech, Member Exclusive, Policies & Playbooks

The antitrust question is moving up the stack: What California’s new push and NVIDIA’s retreat mean for finance

• California lawmakers are weighing whether antitrust law needs to draw a clearer line between growing an ecosystem and using market power to shape it.
• Antitrust is now becoming a front-end strategy issue for financial services, not a back-end legal concern.

10-Q, Member Exclusive

Goldman Sachs built its talent pipeline around apprenticeship. AI is now testing what that means

• How does the apprenticeship model evolve when AI takes over the work that once taught the trade?
• AI can accelerate junior employees’ output while slowing the learning curve that once came from doing the work themselves.