Fintech: Page 23
The latest fintech news for banking professionals.
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Permission granted by Grasshopper Bank
Q&AGrasshopper 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 -
Permission granted by HMBradley
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 -
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 -
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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 -
Permission granted by Archway
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 -
BlackJack3D via Getty Images
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 -
pcess609 via Getty Images
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 -
Permission granted by Chime
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 -
Permission granted by First Fidelity Bank
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 -
Permission granted by Remitly
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 -
Dan Kitwood via Getty Images
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 -
Courtesy of Green Dot
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 -
Drew Angerer via Getty Images
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 -
solarseven via iStock
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 -
sefa ozel via Getty Images
MoneyLion partners with Column Tax on free tax-filing service
Customers with RoarMoney accounts who file their tax returns through MoneyLion’s app gain access to returns two days earlier than if they used another service provider, the neobank said.
By Rajashree Chakravarty • Feb. 22, 2023 -
Courtesy of https://www.prnewswire.com/news-releases/american-fintech-council-afc-selects-phil-goldfeder-as-ceo-301752973.html
Cross River exec named CEO of American Fintech Council
Phil Goldfeder will head the group at a pivotal time for fintech, as nonbank entities are coming under increased scrutiny from regulators and lawmakers, ranging from their involvement in the PPP to their partnerships with banks.
By Anna Hrushka • Feb. 22, 2023 -
Courtesy of Klarna
Klarna touts US as largest market
The Swedish buy now, pay later provider aims to keep growing in the U.S. with new services despite the intense competition.
By Lynne Marek • Feb. 22, 2023 -
Now Africa/BigStock
Sponsored by CCG CatalystThe evolution of BaaS: Minimizing risk and increasing value
Is BaaS dead or alive, or catching its breath?
Feb. 21, 2023 -
Permission granted by Comun
Latino-first neobank Comun raises $4.5M in seed funding
The challenger bank offers traditional financial services, including access to a checking account connected to a physical and virtual debit card, direct deposits for payroll and 24/7 support.
By Rajashree Chakravarty • Feb. 15, 2023 -
Permission granted by Pinwheel
Pinwheel pushes for payroll data inclusion in open banking rule
“How could you possibly argue that how much you make isn’t your data?” Pinwheel CEO Kurtis Lin said. “From where we sit, it feels like a no-brainer.”
By Anna Hrushka • Feb. 15, 2023 -
hqrloveq via Getty Images
Payments firms gear up for new ISO standard
The Clearing House and other payments players, including Swift, are readying for the March rollout of an international payments standard.
By Lynne Marek • Feb. 15, 2023 -
ferrantraite via Getty Images
Back to the future with Worldpay
FIS CEO Stephanie Ferris and her Worldpay sidekick Charles Drucker, reclaiming a role at the business, will be under pressure to avoid “dis-synergies.”
By Lynne Marek • Feb. 14, 2023 -
Permission granted by Office of the Comptroller of the Currency
Key merger metric doesn’t account for online banking, nonbanks: OCC
The Herfindahl-Hirschman Index, which measures a bank’s market presence based on deposit share, is becoming a less effective predictor of competition across product lines, the agency’s chief counsel said.
By Anna Hrushka • Feb. 13, 2023 -
metamorworks via Getty Images
Quontic, NYDIG vet aims to bridge ‘translation layer’ between banks, fintechs
Patrick Sells, a former chief innovation officer, wants to speed up the time it takes for banks to find a fintech whose services match their needs.
By Anna Hrushka • Feb. 8, 2023 -
Permission granted by Fierce
Former NYSE CIO launches an app to make you feel good about your finances
He called Fierce “kind of like the Ted Lasso of finance.”
By Gabrielle Saulsbery • Feb. 8, 2023 -
Permission granted by Stash
Stash’s CEO takes the helm as fintech matures from hyper-growth
New chief Liza Landsman said the company is exploring paths toward acquisition, private financing or an initial public offering, backing off earlier reports that suggested a stronger focus on IPO.
By Suman Bhattacharyya • Feb. 7, 2023
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