Colorado bank renamed to reflect Latvian owners' focus on payments

The new name, Transact Bank, is meant to convey "the range of payment processing and card issuing solutions" the bank will be providing, CEO Mark Moskvin said in a press release.

By Dan Ennis • April 2, 2020

Banks, fintechs prepare for flood of SBA loan applications

As small businesses across the country shutter amid the pandemic, many fintech lenders are concerned traditional lenders won't be able to process loans quickly enough to get business owners the cash they need.

By Anna Hrushka • March 31, 2020

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

Green Dot hires former Netspend chief as CEO

The prepaid card provider renewed its most valuable partnership last year but lost hundreds of thousands of customers — and about 60% of its stock price.

By Dan Ennis • March 26, 2020

Unbanked would get digital accounts for virus relief under Senate bill

Legislation is aimed at giving more than 8 million U.S. households — and even more underbanked Americans —​ access to outbreak-related stimulus checks.

By Anna Hrushka • March 25, 2020

Report: Banks risk 5% loss in revenue to fintechs if they don't change

Banks' use of hidden fees that leverage consumers' money mismanagement is hurting them on trust, but they have an opportunity to change that, an Accenture report finds.

By Robert Freedman • March 11, 2020

Coronavirus could hit fintechs hard as card transactions drop

Fintechs’ reliance on the fees merchants pay when consumers make credit and debit purchases will be tested as people stay home. 

By Robert Freedman • March 4, 2020

Banks mostly fear payments and money transfer fintechs, survey finds

Less of a concern among banks is competition from online investment and crowdfunding upstarts. 

By Robert Freedman • March 3, 2020

FDIC, Fed, Treasury IGs and OCC probe AmEx sales tactics

Investigators are looking into whether payment network employees misled or cowed Costco small-business cardholders into signing up with AmEx when the retailer ended its partnership with the company.

By Dan Ennis • Updated Jan. 8, 2021

UK fintech Curve offers 'over-the-top' banking service in card, mobile app

The startup's eponymous card is designed to unify all existing debit and credit card accounts, but will face heavy payments competition when it attempts to enter U.S. markets.

By Kate Patrick Macri • Feb. 20, 2020

Online lender Kabbage rolls out 3-day small-business loans

The company's co-founder and president, Kathryn Petralia, says the new product is a result of customers' tendency to repay early.

By Dan Ennis • Feb. 5, 2020

Visa further delays swipe-fee changes until April 2021

Separately, Visa and American Express extended through April 2021 a deadline for U.S. gas stations to comply with chip card technology. The moves are meant to alleviate the coronavirus crisis's impact on merchants.

By Dan Ennis • Updated May 7, 2020

Competition intensifies in immigrant banking market

As the digital bank Majority expands nationwide, the remittance company Remitly launches Passbook, a bank aimed at first-generation Americans.

By Anna Hrushka • Feb. 4, 2020

Gen Z has more card debt than millennials — and higher credit scores

More lenient underwriting has led nearly double the number of subprime borrowers age 18 to 24 to have credit cards than in 2012, TransUnion found.

By Dan Ennis • Feb. 3, 2020

Expensify amps up charitable giving with 'Karma Points'

A San Francisco company's corporate card gives a slice of its swipe fees to organizations fighting homelessness, hunger and climate change, depending on the cardholder's spending.

By Kate Patrick Macri • Jan. 31, 2020

Zelle reports adding 100 financial institutions last quarter

Year-over-year payment values on the P2P platform increased by 57%, while transaction volume jumped 72%, network operator Early Warning Systems reported Tuesday.

By Anna Hrushka • Jan. 28, 2020

American Express catches up to Visa, Mastercard in acceptance, it reports

The payment network pushed efforts, including sign-on bonuses, to entice small businesses. Now it looks to alter perception in the market that it's accepted in fewer places because of higher swipe fees.

By Dan Ennis • Jan. 24, 2020

Morgan Stanley muscles in on traditional bank accounts with CashPlus

The shift in strategy comes after the investment bank announced it's cutting 1,500 jobs and reducing bonuses.

By Dan Ennis • Jan. 24, 2020

The Clearing House quadruples single real-time payment limit to $100K

The move is meant to boost the network's attractiveness in comparison to those with a $25,000 ceiling operated by ACH or the Federal Reserve.

By Dan Ennis • Jan. 23, 2020

Banks boost borrowers' card limits without telling them, report finds

Capital One analysis found customers carry the same percentage of debt regardless of their ceiling. Executives tweaked the bank's practices in response to bottom-line pressure, according to Bloomberg.

By Dan Ennis • Jan. 23, 2020

Vodafone quits Facebook's Libra, doubles down on M-Pesa

The British telecommunications conglomerate wants to expand the mobile payments app beyond its mostly African base to better serve the underbanked.

By Dan Ennis • Jan. 22, 2020

Mobile wallets let local markets leapfrog card payments

Fintech innovations have enabled many countries to skip over certain payment methods in their financial evolution, writes Steve Villegas, a vice president at PPRO.

By Steve Villegas • Jan. 21, 2020

Visa's Plaid deal pushes open banking, third-party security to forefront

The $5.3 billion acquisition may spur more fintech-on-fintech M&A, but the crux may lie in the card network's desire to stay relevant, analysts say.

By Anna Hrushka • Jan. 17, 2020

Citi narrows gender pay gap to 27% in second yearly report

The nation's third-largest bank is using the gulf between the raw and adjusted pay gap figures to call for more women and minorities to fill management roles.

By Dan Ennis • Jan. 16, 2020

Visa to acquire Plaid for $5.3B

The payment card network was revealed as an investor in the Silicon Valley-based startup in September, along with competitor Mastercard.

By Anna Hrushka • Jan. 13, 2020

Dropping 'digital' from digital banking: 5 trends for 2020

Tech companies that want to bank could have a breakout year. Meanwhile, businesses will continue to go paperless, people cashless, and banking-as-a-service will court greater buy-in, a Mastercard executive writes.

By Jeff Hindle • Jan. 13, 2020