JPMorgan to buy investment analytics fintech Aumni

The bank did not disclose the value of the deal, set to close by June. But Aumni was worth $232 million after its latest funding round in 2021, according to Pitchbook.

By Anna Hrushka • March 23, 2023

Bank failures could cause SMB credit crunch

“The current banking crisis could directly lead to a small business crisis if they are not able to quickly access the capital they need to sustain and expand their operations,” Biz2Credit’s CEO said.

By Anna Hrushka • March 22, 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

Mercury moves to close the gap created by SVB collapse

The startup-focused neobank raised its FDIC insurance and launched new features for VCs to meet the growing demand from former Silicon Valley Bank customers, CEO Immad Akhund said.

By Rajashree Chakravarty • March 22, 2023

Apto Payments, Sardine team on anti-fraud tools

Apto Payments and Sardine are joining forces to offer commercial customers issuing cards better anti-fraud tools.

By Tatiana Walk-Morris • March 22, 2023

With tech’s favorite banks in turmoil, some are choosing loyalty

After a week of several high-profile bank failures and near-failures, some fintechs don’t see jumping ship as an option.

By Gabrielle Saulsbery • March 17, 2023

A look at SVB’s new CEO, Tim Mayopoulos

The former Fannie Mae CEO on Tuesday urged clients who left SVB in the past week to return. The FDIC allegedly has targeted Mayopoulos since 2017 as someone who could steer a seized bank.

By Anna Hrushka • March 16, 2023

How fintech founders navigated the SVB collapse

While many have moved their funds to other banks, some are staying put for now.

By Gabrielle Saulsbery • March 15, 2023

Fintechs offer expanded FDIC insurance in wake of SVB failure

“It is abundantly clear that $250K FDIC insurance is not enough for startups,” Immad Akhund, CEO of neobank Mercury, said after Silicon Valley Bank’s collapse.

By Rajashree Chakravarty • March 15, 2023

‘Meme stock in reverse’: SVB collapse portends new era of viral bank runs

Silicon Valley Bank’s demise gave the banking sector a glimpse into how social media and digital banking can turn a financial institution from operational to insolvent in a matter of hours.

By Anna Hrushka • March 15, 2023

Anchorage Digital cuts 20% of staff

“The need for better crypto infrastructure is growing ever clearer,” the company told Bloomberg amid a seven-day span that has seen the closure of three banks heavily invested in the crypto sector.

By Dan Ennis • March 15, 2023

Payments players caught in SVB fallout

As the banking crisis spread, payments players, such as FIS, and venture-backed firms, including Payoneer, were caught in the contagion.

By Lynne Marek , Caitlin Mullen • March 13, 2023

Regulators take over Silicon Valley Bank

The California Department of Financial Protection and Innovation closed the embattled bank and appointed the FDIC as receiver, regulators said Friday.

By Anna Hrushka • March 10, 2023

Grasshopper Bank leans on fintech partners to weather economic downturn

“We understand partnerships. And the one thing that I tell people is, once you refer to one of your fintech partners as a vendor, then you're in a bad place,” CEO Mike Butler said.

By Rajashree Chakravarty • March 8, 2023

HMBradley ends waitlist after landing new sponsor bank

The neobank tapped NYCB as its new sponsor bank after its former partner struggled to keep up with the rapid deposit growth.

By Anna Hrushka • March 8, 2023

Finance firms outpacing other industries in work flexibility: survey

Eighteen percent of the 76 banks surveyed said they are fully flexible, while that percentage jumped to 78% for fintechs, a Scoop study found.

By Dan Ennis • March 8, 2023

WaFd fintech spinoff Archway launches after $15M funding round

“We’re trying to close that digital divide so the community and regional banks can really foster those relationships without making them sacrifice the technology side,” said Dustin Hubbard, Archway’s president.

By Gabrielle Saulsbery • March 8, 2023

Brex offers ChatGPT-style CFO tools

The announcement comes as interest in ChatGPT is rapidly gaining momentum, even as some worry about potential privacy and security risks.

By Alexei Alexis • March 7, 2023

Banking technology provider Amount cuts 25% of staff

The Chicago-based fintech, which was valued at $1 billion in 2021, has initiated its second round of layoffs in less than a year.

By Anna Hrushka • March 6, 2023

Chime CTO: System optimization is key, including in a bear market

The fintech veteran, an alum of PayPal and eBay and a self-proclaimed "eternal optimist," said he isn't afraid of the market downturn.

By Gabrielle Saulsbery • March 1, 2023

First Fidelity Bank enters BaaS space with Episode Six partnership

Unifimoney, a San Francisco-based multi-asset digital wealth management platform, is the first customer to go live with the new BaaS solution.

By Rajashree Chakravarty • March 1, 2023

Remitly to shutter digital banking platform Passbook

The Seattle-based remittance fintech launched Passbook in 2020. The product, however, hasn’t garnered significant overlap with existing customers, Remitly CEO Matt Oppenheimer said.

By Anna Hrushka • Feb. 27, 2023

Circle CFO: Trust, transparency are key to crypto’s next phase

Stablecoin issuer Circle is moving to position itself as a player in crypto’s coming “utility phase,” and continuing its efforts to become a public company, its CFO said.

By Grace Noto • Feb. 24, 2023

Green Dot juggles customer changes

The banking-as-a-service company posted profits in the final quarter of last year even as it recovered from the loss of clients.

By Lynne Marek • Feb. 24, 2023

Cannabis banking fintech Dama Financial taps new CEO

Patrick O'Boyle will be responsible for overseeing Dama Financial's strategic direction, growth initiatives and the launch of new products, the firm said.

By Anna Hrushka • Feb. 22, 2023

Fintech suffered steep market cap declines last year

Although 2022 was “sobering,” there’s plenty to be optimistic about, fintech venture capitalist Abdul Abdirahman said.

By Gabrielle Saulsbery • Feb. 22, 2023