Fintech: Page 9
The latest fintech news for banking professionals.
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Smaller credit unions face hurdles despite NCUA’s fintech rule
The financial innovation rule may open the door to more partnerships, but larger institutions still have advantages on tech, budget and risk management, experts say.
By Ken McCarthy • Feb. 28, 2024 -
Courtesy of Green Dot
Green Dot faces Fed’s proposed consent order
The digital bank set aside $20 million to cover a potential penalty stemming from compliance risk management issues predating the company’s current management.
By Gabrielle Saulsbery • Feb. 28, 2024 -
Explore the Trendline➔
Permission granted by O’Malley Hansen Communications
TrendlineCustomer service
Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.
By Banking Dive staff -
Permission granted by Treasury Prime
Treasury Prime has laid off half its staff
The banking-as-a-service platform is shedding its fintech-bank liaison duties — and about 40 to 50 employees — to focus exclusively on providing software to banks.
By Gabrielle Saulsbery • Feb. 28, 2024 -
Chime to pay California regulator $2.5M over customer service flaws
The agency investigated accuracy and responsiveness to customer complaints. The consent order offered few details but the time frame aligns with COVID-era account closures.
By Dan Ennis • Feb. 28, 2024 -
sefa ozel via Getty Images
AI could spark change in the SMB lending space: white paper
Financial institutions, including fintechs, can leverage artificial intelligence technology like machine learning to automate lending decisions, a white paper commissioned by Uplinq said.
By Rajashree Chakravarty • Feb. 21, 2024 -
Permission granted by Neon Money Club
Neon Money Club launches dating app for those with good credit
Score, which is only available for those with a score of 675 or better, highlights the importance of discussing finances in relationships — even in new ones.
By Gabrielle Saulsbery • Feb. 21, 2024 -
Chip Somodevilla via Getty Images
Cross-border payments remain focus for Fed
Tools that “automate processes, reduce costs and promote effective safeguards across jurisdictions” may help improve cross-border payments, a Federal Reserve official said last week.
By Lynne Marek • Feb. 20, 2024 -
Justin Sullivan via Getty Images
PayPal invests in AI startup Rasa
The investment is the first that the digital payments pioneer is making from its new artificial intelligence venture fund.
By Tatiana Walk-Morris • Feb. 20, 2024 -
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 -
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 -
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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
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