FedNow may draw in low-income users

The real-time payments system due later this year could have particular appeal to unbanked and underbanked Americans, Fed researchers say.

By Lynne Marek • March 9, 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

Explore the Trendline➔

Data-driven disruption

More often than not, an innovator may see disruption as an enhancement to be embraced. And sometimes the innovators are the establishment.

By Banking Dive staff

Behind Synchrony’s decision to join Project Black

The private-label card issuer decided it needed to do more to support entrepreneurs of color and women business owners, so it teamed up with Ariel Alternatives.

By Tatiana Walk-Morris • March 6, 2023

Senators urge Fed, OCC, FDIC and NCUA to keep close eye on Zelle

Five Democrats blasted the platform for its use of murky language, such as “authorized” transactions, in fraud-related reimbursements of customers.

By Rajashree Chakravarty • March 3, 2023

Partners drop Silvergate amid delays, financial review

Coinbase, Paxos and others reconsider their relationship with the crypto-heavy bank after it delays filing its 10-K document as an audit wraps up.

By Gabrielle Saulsbery • March 2, 2023

Credit union trade group preemptively blasts Durbin bill

NAFCU said a bill to curb the processing of credit card transactions would reduce credit union members’ revenue from swipe fees and limit loyalty programs, fraud protection and free checking.

By Lynne Marek • Feb. 27, 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

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

FedNow aims to avoid Zelle-type fraud

As the Federal Reserve prepares for a midyear launch of its instant payments system, it’s zeroing in on anti-fraud tools to protect users.

By Lynne Marek • Feb. 23, 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

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

Retailers oppose banks seeking more time on debit routing rule

Banks requested a delay in implementing a debit routing rule, but a retail and merchant trade group argued it’s high time the card issuers comply.

By Lynne Marek • Feb. 15, 2023

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

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

Stripe CFO exits to handle ‘family matters’

Dhivya Suryadevara is exiting the payments software provider on the brink of a potential IPO and deal with Amazon.

By Elizabeth Flood • Feb. 3, 2023

Small banks, fintechs ask CFPB for more time to phase out screen scraping

A CFPB proposal aims to eliminate screen scraping by requiring banks to establish APIs, standardized software widely regarded as a more secure way to connect consumers’ accounts to financial apps.

By Anna Hrushka • Feb. 1, 2023

PPP, EIDL borrowers with ‘questionable’ Social Security numbers got $5.4B: panel

The SBA disbursed loans to 69,323 applicants with SSNs that either didn’t exist or didn’t match name or birth date information, the Pandemic Response Accountability Committee found.

By Gabrielle Saulsbery • Jan. 31, 2023

Varo slows burn rate, shifts marketing strategy

The bank cut its marketing budget and shifted its focus from maximizing user numbers to growing the segment that uses Varo as its primary bank.

By Anna Hrushka • Jan. 31, 2023

The crypto world is sending mixed signals

Nearly 2,000 crypto workers have been laid off in 2023, but the value of Bitcoin climbed enough in January for Goldman Sachs to take note.

By Gabrielle Saulsbery • Jan. 27, 2023

Mexico’s largest department store now offers banking services to Mexican Americans

Customers can use their government-issued Mexican ID to set up a Coppel Access account, which provides access to a digital and physical debit card and convenient remittance services.

By Gabrielle Saulsbery • Jan. 25, 2023

Paymentus to accept payments via Green Dot Network

Paymentus is tapping Green Dot’s network to extend the number of locations where it accepts cash bill payments from consumers.

By Tatiana Walk-Morris • Jan. 23, 2023

Big banks to launch digital wallet operated by Zelle parent: report

The wallet, which is expected to launch in the second half of the year, aims to compete with PayPal and Apple, sources told The Wall Street Journal. But serious competition may take a while, an analyst said.

By Anna Hrushka • Jan. 23, 2023

Fintech wreckage spells opportunity for bargain-hunting banks

Following a challenging year for the fintech sector, enterprising banks may be able to acquire startups whose previous valuations put them out of reach in prior years, said Klaros Group’s Jonah Crane.

By Anna Hrushka • Jan. 18, 2023

Affirm users jolted by multiple charges

The buy now, pay later provider said it encountered a “technical issue” that has now been resolved, with user transactions to be corrected at banks within a week.

By Lynne Marek • Jan. 13, 2023

Will PayPal get a new CEO?

CEO Dan Schulman faces speculation about his exit. “We think he could move on from PayPal, legacy intact,” one analyst team wrote.

By Lynne Marek • Jan. 9, 2023