Fintech: Page 12
The latest fintech news for banking professionals.
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Chris Hondros via Getty Images
Viva Wallet CEO sues JPMorgan, claiming bank is limiting growth
Haris Karonis alleges JPMorgan, which owns 48.5% of Viva, is seizing on "perverse incentives" that allow the bank to take full control of the fintech if its value falls below €5 billion next year.
By Gabrielle Saulsbery • Feb. 15, 2024 -
Plaid names Cloudflare vet as its first president ahead of ‘eventual’ IPO
The fintech's hiring of Jen Taylor, Cloudflare's ex-chief product officer, comes months after Plaid appointed its first CFO and named another executive as head of Europe.
By Dan Ennis • Feb. 14, 2024 -
Explore the Trendline➔
da-kuk via Getty Images
TrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
Anna Hrushka/Banking Dive
Q&AAdyen eyes growth in North America
Davi Strazza, North America president at Adyen, pointed to the Dutch processor’s single technology platform as setting it apart in a crowded field of payments players.
By Caitlin Mullen • Feb. 14, 2024 -
Mario Tama via Getty Images
Citi moves deeper into e-commerce through digital couponing
The bank recently launched a browser extension that searches for coupons on merchant checkout pages, suggests applicable codes and can activate cash-back offers.
By Suman Bhattacharyya • Feb. 12, 2024 -
Courtesy of https://press.bunq.com/media_kits/228411/
Dutch neobank Bunq withdraws application for US banking charter
Bunq is the latest in a line of European neobanks to back out of pursuing a U.S. banking charter, though it stated plans to reapply, American Banker reported.
By Rajashree Chakravarty • Feb. 8, 2024 -
Permission granted by Aeropay
Aeropay partners with Cross River, UBank on gaming payouts
A record 67.8 million people are expected to place bets on this year’s Super Bowl, the American Gaming Association said Tuesday. Aeropay aims to get winnings paid out as fast as possible.
By Gabrielle Saulsbery • Feb. 7, 2024 -
Permission granted by MoneyLion and EY
MoneyLion, EY partner to co-build ‘turnkey’ solutions for banks
The partnership will help to drive deposits for mid-sized banks and help diversify their existing revenue streams by implementing comprehensive digital marketplaces inside their ecosystems.
By Rajashree Chakravarty • Feb. 7, 2024 -
Permission granted by Fiserv
Fiserv CEO details special bank charter pursuit
The processing and acquiring company, which seeks a “very specific” special bank charter, doesn’t intend to compete with its financial institution partners, Fiserv CEO Frank Bisignano said Tuesday.
By Caitlin Mullen • Feb. 7, 2024 -
Courtesy of Peterbilt
Fleet fintech ditches Visa for Mastercard
Fuel card startup AtoB, with $112 million in financial backing, plans to take on dominant fleet service rivals Wex and Fleetcor.
By Lynne Marek • Feb. 6, 2024 -
Anna Hrushka/Banking Dive
Republican lawmakers raise concerns over FDITech
“[D]uring your tenure, the FDIC has moved innovation backwards,” the GOP lawmakers noted in the letter to the Federal Deposit Insurance Corp. Chair Martin Gruenberg.
By Rajashree Chakravarty • Feb. 5, 2024 -
Just_Super via Getty Images
Genesis Global settles SEC suit for $21M
The settlement will, among other things, "eliminate the risks, expenses, and uncertainty associated with protracted litigation against the SEC."
By Gabrielle Saulsbery • Feb. 2, 2024 -
David Ryder via Getty Images
SellersFi, Amazon team up to offer up to $10M in credit lines
The SellersFi credit lines are offered through Citi, which, with asset manager Fasanara Capital, led a $300 million credit facility for the company.
By Suman Bhattacharyya • Jan. 31, 2024 -
Permission granted by Plenty
Plenty aims to help couples build wealth together
Emily Luk and Channing Allen fell in love while working together at a fintech startup. Now, they want to help other couples manage and grow their money.
By Gabrielle Saulsbery • Jan. 31, 2024 -
hapabapa via Getty Images
Nasdaq to cut jobs to streamline operations: report
The second-largest U.S. stock exchange is planning to cut its workforce as it integrates software provider Adenza into its business to improve efficiency, Bloomberg reported.
By Rajashree Chakravarty • Jan. 31, 2024 -
ultramarine5 via Getty Images
The banking industry outlook on 2024: The year of wait-and-see
A capital requirements proposal, fintech regulation and the CFPB itself hang in the balance as opinions (from the public and a court) and an ever-ticking clock loom large.
By Dan Ennis • Jan. 30, 2024 -
fotostorm via Getty Images
One in four companies ban GenAI
The research by Cisco found that generative artificial intelligence tools are putting many companies’ sensitive data at increased risk of public exposure.
By Alexei Alexis • Jan. 30, 2024 -
Retrieved from OCC.
‘Troubled’ Blue Ridge Bank enters consent order with OCC
The OCC alleged that Blue Ridge’s BSA/AML program experienced “systemic internal controls breakdowns,” among other issues, in its second regulatory action against the bank in 18 months.
By Gabrielle Saulsbery • Jan. 29, 2024 -
Creative via Getty Images
Carlyle expands its reach on student loans as banks back out
The private-equity firm bought a $415 million portfolio, reportedly from Truist, and invested in student loan specialist Monogram.
By Dan Ennis • Jan. 25, 2024 -
Permission granted by Novo
Novo rolls out an embedded payroll tool for small businesses
Powered by Check, the new tool, Novo Payroll, aims to help small businesses manage their finances from a single platform.
By Rajashree Chakravarty • Jan. 24, 2024 -
Permission granted by ModernFi
ModernFi raises $18.7M in Series A
“Faced with fundamental shifts in the behavior of deposits, institutions benefit from modern tools to manage and grow their funding,” said Paolo Bertolotti, ModernFi CEO, who cofounded the fintech with a Columbia University chum.
By Gabrielle Saulsbery • Jan. 24, 2024 -
Courtesy of Brex
Brex cuts workforce by 20% in profitability push
The company’s chief tech officer, who is transitioning to an advisory role, shared on LinkedIn a spreadsheet of employees impacted by the job cuts. Nearly 175 opted in, and 71 had “software engineer” in their title.
By James Pothen • Jan. 24, 2024 -
Caitlin Mullen/Banking Dive
Klarna adds subscription plan
With an IPO on the horizon, the BNPL firm is offering customers a subscription service for $7.99 per month.
By Caitlin Mullen • Jan. 24, 2024 -
Creative stock via Getty Images
Figure eyes SEC approval for interest-bearing stablecoin
The company’s token would be redeemable at 1 cent per certificate, rather than $1, and interest would accrue daily and be paid monthly to the user, according to paperwork filed with the agency.
By Dan Ennis • Jan. 23, 2024 -
Sukanya Sonlila via Getty Images
BaaS to require strong commitment, investment in 2024, experts say
While demand for embedded banking services will continue to propel the BaaS space, experts say regulatory scrutiny will likely separate committed banks from those with a casual interest in the model.
By Anna Hrushka • Jan. 22, 2024 -
Permission granted by Arc Technologies
Neobank Arc looks to fill SVB gap with venture debt platform
Arc Technologies CEO and co-founder Don Muir likened Arc Capital Markets to Uber Black, describing the platform as a dedicated concierge service that meticulously vets its lenders.
By Anna Hrushka • Jan. 17, 2024
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