Twitter snags money transfer license in Arizona

That’s the fourth state in which the social media company has received a license, inching it closer to creating the payments tool and super-app envisioned by owner Elon Musk.

By James Pothen • July 12, 2023

Criminals stole $20M from Revolut via payment loophole: report

Differences in the firm’s U.S. and European systems meant the neobank would use its own money to erroneously refund certain declined payments, the Financial Times reported.

By Anna Hrushka • July 10, 2023

Explore the Trendline➔

Artificial 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

[PODCAST] Digital identity opportunities in the financial services industry

This podcast explores the policy and regulatory trends shaping digital identity, including age-gating and social media bans.

By Banking Dive's studioID • July 10, 2023

Stripe cuts additional jobs

The digital payments services provider pared its workforce last week, following on more extensive cuts last year.

By James Pothen • July 7, 2023

SoLo Funds to bring peer-to-peer lending platform to Nigeria

Nigeria’s growing fintech sector made the region an attractive entry point to the continent, SoLo Funds founder Rodney Williams said.

By Anna Hrushka • July 5, 2023

Ramp acquires AI-powered Cohere

The finance automation platform acquired the startup to help drive AI-powered projects and solve problems for its customers, it said. 

By Rajashree Chakravarty • July 5, 2023

Visa to acquire Pismo for $1B

Visa said it has agreed to acquire the Brazilian company to provide more card issuing and banking services to fintechs and financial institutions.

By Lynne Marek • June 29, 2023

BNP Paribas deal signals end to Orange’s challenger bank status

The telecom company has taken more than €800 million in losses on its banking efforts since 2017, Bloomberg reported. Its CEO floated a strategy to invest more in cybersecurity and grow its core business in Africa.

By Dan Ennis • June 29, 2023

Remittance fintech launches neobank

Piermont Bank will provide the underlying banking services for Sendwave Pay, which offers users a debit card and reimbursements for international transaction fees when the card is used outside of the U.S.

By Anna Hrushka • June 28, 2023

Square tests credit card for merchants

The card aimed at providing more financial services to merchants comes amid a slew of competition to serve that clientele.

By Caitlin Mullen • June 28, 2023

U.S. Bank’s fintech acquisition materializes in card launch

U.S. Bank and TravelBank, which it acquired in 2021, this week launched a commercial rewards card for the emerging middle market.

By Gabrielle Saulsbery • June 28, 2023

Robinhood cuts around 150 jobs

The cuts amount to 7% of the brokerage's workforce and follow two rounds of layoffs in 2022.

By Gabrielle Saulsbery • June 27, 2023

Fintech startup TreasurySpring raises $29M amid bank turmoil

The startup is among fintech companies looking to capitalize on the Silicon Valley Bank collapse and other recent bank failures.

By Alexei Alexis • June 26, 2023

Goldman underwhelmed by GreenSky bids: report

Apollo, Sixth Street and Synchrony are among bidders for all or part of the installment-lending platform, sources told CNBC. Goldman may take a writedown on the sale.

By Dan Ennis • June 23, 2023

Plaid launches anti-fraud network for banks, fintechs

The collaborative anti-fraud network is “designed to stop the chain reaction of fraud that occurs when identities are stolen and accounts are compromised,” the company said.

By Anna Hrushka • June 23, 2023

Robinhood to buy card startup X1 in $95M deal

The online brokerage said it will take on X1 employees, including co-founders Deepak Rao and Siddharth Batra, but did not specify how many.

By Lynne Marek • June 23, 2023

US servicemembers ensnared by digital payment app scams

Servicemember complaints about digital payment apps surged last year, according to a CFPB report, which also highlighted military families’ susceptibility to payments fraud.

By Lynne Marek • June 22, 2023

Majority leans into subscriptions as consolidation hits fintech sector

Majority raised $9.75 million in new funding this month, some of which it plans to put toward a meet-up space it recently opened at the U.S.-Mexico border in Laredo, Texas.

By Anna Hrushka • June 21, 2023

Citizens partners with Wisetack on BNPL loans for SMBs

Citizens will focus on home improvement projects through Wisetack’s platform that connects in-person providers with buy now, pay later lenders.

By Rajashree Chakravarty • June 21, 2023

Shopify taps Adyen in bid for bigger clients

Canadian e-commerce company Shopify is upgrading its integration with Dutch fintech Adyen in an effort to serve larger merchants in North America and on the international stage.

By Caitlin Mullen • June 21, 2023

Fed publishes master account list

The move follows calls from Republicans for the Fed to shed light on the process by which it grants accounts, and comes as an increasing number of uninsured firms are vying for access to the central bank’s system.

By Anna Hrushka • June 20, 2023

Walmart-backed ONE offers 5% savings rate

As the fintech looks to grow in a competitive field, it plans to leverage Walmart’s distribution channels, and is rapidly expanding its presence in Walmart stores, a source said.

By Anna Hrushka • June 14, 2023

BNY Mellon, MoCaFi link up to bring digital payments to unbanked

The bank's treasury services clients will now be able to disburse payments to those without bank accounts through MoCaFi.

By Gabrielle Saulsbery • June 14, 2023

Visa launches fintech accelerator in Africa

The program is part of Visa’s effort to invest $1 billion in the continent’s digital transformation over five years.

By James Pothen • June 14, 2023

Jack Henry to eliminate screen scraping by end of summer

The fintech, which has API integrations with data exchange platforms Finicity, Akoya, Plaid, Envestnet | Yodlee and Intuit, started phasing out the practice five years ago.

By Anna Hrushka • June 14, 2023