Fintech: Page 22
The latest fintech news for banking professionals.
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Fiserv hired ‘thousands’ of workers this year, CEO says
Even as the payments and fintech company cut employees this year, it hired “thousands” of workers, Fiserv CEO Frank Bisignano said in an interview.
By Caitlin Mullen • Dec. 19, 2022 -
Chris McGrath via Getty Images
Binance.US to buy Voyager Digital’s assets in $1B deal
Binance.US CEO Brian Shroder said he hopes the deal marks the end of “a painful bankruptcy process,” which was affected by the FTX bankruptcy.
By Gabrielle Saulsbery • Dec. 19, 2022 -
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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 -
Photo by Pavel Danilyuk on Pexels
Wise, VizyPay target US hiring
Some payments companies have plans for extensive hiring next year, despite the economic headwinds that led other players to contract this year.
By Lynne Marek • Dec. 19, 2022 -
Screenshot, House Financial Services Committee YouTube
FTX seeks to sell its 4 functional businesses, including LedgerX
The company filed documents in bankruptcy court Friday seeking permission for the sales.
By Gabrielle Saulsbery • Dec. 16, 2022 -
Chime made two offers up to $2B to buy DailyPay: report
DailyPay, which was founded in 2015 by Jason Lee, may be content to wait for a better offer, or perhaps lean on its track record of successful fundraising going forward.
By Anna Hrushka • Dec. 16, 2022 -
Permission granted by Huntington Bank
Huntington Bank partners with app to help neurodiverse people bank better
Magnusmode offers free step-by-step guides to everyday tasks such as using a phone to deposit a check, creating and tracking a budget and disputing a transaction.
By Gabrielle Saulsbery , Anna Hrushka • Dec. 16, 2022 -
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Apex, Unifimoney partner on digital investment solutions for banks
Oklahoma-based First Fidelity Bank is the first customer to go live with the services offered by the partnership.
By Rajashree Chakravarty • Dec. 14, 2022 -
Permission granted by Current
How Current pivoted to free
"We had a lever that other people didn't have, which was we can actually cut costs sufficiently that we don't need to fill that hole with a subscription fee,” said Trevor Marshall, the company's CTO.
By Suman Bhattacharyya • Dec. 14, 2022 -
Screenshot, House Financial Services Committee YouTube
8 takeaways from the House committee hearing on FTX
CEO John Ray didn't mince words when discussing FTX's business dealings under Sam Bankman-Fried, at one point calling it "old-fashioned embezzlement."
By Gabrielle Saulsbery • Dec. 14, 2022 -
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Q&ABrex maintains hiring for key roles, some replacements
The fintech doesn't anticipate workforce reductions in 2023, but the broader industry isn’t done with job cuts, Chief People Officer Angela Crossman predicted.
By Caitlin Mullen • Dec. 14, 2022 -
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Custodia is denied default judgment in Fed master account case
U.S. District Judge Scott Skavdahl gave the central bank until Feb. 9 to submit a step-by-step breakdown of its decision-making process with regard to the crypto-focused bank’s master account application.
By Dan Ennis • Dec. 13, 2022 -
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CBA: Most consumers want more oversight for crypto, fintech firms
The trade group’s study saw an age gap. About 46% of baby boomers and 42% of Gen Xers sought higher regulatory standards for the companies, compared with 24% of millennials and 18% of Gen Zers.
By Gabrielle Saulsbery • Dec. 13, 2022 -
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DOJ, SEC charge Sam Bankman-Fried with defrauding investors
The former FTX CEO, who was arrested Monday in the Bahamas, was supposed to appear in front of the House Financial Services Committee on Tuesday. FTX’s current CEO will testify instead.
By Gabrielle Saulsbery • Dec. 13, 2022 -
SBA bars fintechs Womply, Blueacorn after PPP report
The agency is also investigating Cross River Bank, Celtic Bank, Customers Bank and nonbank lenders Fountainhead, Harvest, Capital Plus, Benworth and Prestamos, as well as individuals and entities connected to them.
By Dan Ennis • Dec. 9, 2022 -
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Female CMOs are building some of fintech’s fastest-growing brands
They're "rapidly expanding financial services by ... creating brands that deeply resonate with their customers,” said Jennifer Tramontana, founder of fintech-focused marketing firm The Fletcher Group.
By Gabrielle Saulsbery • Dec. 7, 2022 -
Plaid cuts 260 employees
The 20% downsizing comes on the heels of moves by neobank Chime to slash 12% of its workforce and Morgan Stanley's effort, announced Tuesday, to trim headcount by 1,600.
By Dan Ennis • Dec. 7, 2022 -
Zhanna Hapanovich via Getty Images
Newtek gets OCC green light to acquire NBNYC
The approval comes 16 months after Newtek proposed to reposition itself as a bank holding company. The acquisition should strengthen Newtek’s foothold as the third-largest lender in the SBA’s 7(a) program.
By Rajashree Chakravarty • Dec. 6, 2022 -
Permission granted by Circle
Circle’s $9B SPAC deal falls apart
The stablecoin issuer and the blank-check company that had hoped to take it public terminated their agreement over the wait for SEC approval, they said.
By Dan Ennis • Dec. 6, 2022 -
Permission granted by Apiture
Apiture’s new tool helps banks drive customer engagement
Data Engage allows financial firms to deliver tailored messages such as pop-ups, sales and marketing notices, tutorials and guides to customers through their digital banking platform.
By Rajashree Chakravarty • Dec. 6, 2022 -
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10 top reads from Banking Dive
If you're new, welcome. Here's a chance to catch up on some of our best work.
By Dan Ennis • Dec. 4, 2022 -
Panel blasts fintechs for missing ‘obvious and preventable’ PPP fraud
Womply and Blueacorn’s lack of fraud controls made them the “paths of least resistance” for fraudsters, a House subcommittee said. Another fintech included in the report blamed the SBA’s “sh***y rules.”
By Anna Hrushka • Dec. 2, 2022 -
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FTX ex-CEO says he ‘unknowingly commingled funds’
In his first public appearance since his former company's collapse, Sam Bankman-Fried said he doesn’t think he has criminal liability, but what happens with him is “not the important part.”
By Gabrielle Saulsbery • Dec. 1, 2022 -
Getty Images/Staff via Getty Images
Kraken cuts workforce by 1,100 people
Thousands of crypto jobs have vanished in 2022 as a result of the ongoing crypto winter, and the Kraken team is back to the size it was a year ago.
By Gabrielle Saulsbery • Nov. 30, 2022 -
Permission granted by Novo
Novo grows customizable small-business banking platform, eyes lending
The fintech, which raised $35 million from GGV Capital last week, announced a new partnership Wednesday with LegalZoom to provide entity formation services to Novo customers.
By Anna Hrushka • Nov. 30, 2022 -
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BlockFi sues Bankman-Fried’s holding company
The lawsuit, to recover shares in Robinhood, came the same day BlockFi filed for Chapter 11 bankruptcy protection, in part because of its exposure to FTX, which Bankman-Fried founded.
By Gabrielle Saulsbery • Nov. 29, 2022
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