Technology
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Sponsored by EncaptureThe countdown to 1071: Why automation is a must-have for banks
Upcoming rules demand action — banks must act now. Learn why automation is key for compliance.
By Brynna Desantiago, Head of Marketing at Encapture • Nov. 25, 2024 -
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HSBC hires Citi vet to lead ex-SVB unit
Emily Turner, a 13-year veteran at Citi, will become the CEO of the HSBC Innovation Banking UK unit, starting in February.
By Rajashree Chakravarty • Nov. 21, 2024 -
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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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Deep DivePayPal CEO pushes beyond payments
After a year as CEO of the digital payments pioneer, Alex Chriss is spearheading an expanded role in commerce for the company.
By Lynne Marek • Nov. 20, 2024 -
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Robinhood buys wealth management platform TradePMR
Ahead of what’s projected to be the largest wealth transfer in history, Robinhood is bringing financial advisers directly to its 24 million customers.
By Gabrielle Saulsbery • Nov. 20, 2024 -
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Sponsored by SnowflakeNailing your AI strategy for banking is more important than you think
What data leaders in banking and financial services should consider for a successful enterprise AI strategy.
By Snowflake • Nov. 18, 2024 -
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Community banks need to step up third-party practices: survey
Community and mid-size banks lack due diligence and rigorous contract negotiations with third-party vendors, including fintechs, leading to potential risks, a Jones Walker survey said.
By Rajashree Chakravarty • Nov. 13, 2024 -
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Block recalibrates crypto approach
The payments firm is winding down its bitcoin-focused TBD business and investing in its self-custody wallet and bitcoin mining businesses.
By Gabrielle Saulsbery • Nov. 13, 2024 -
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Underbanked US population grows to 14.2%, FDIC finds
Separately, the unbanked proportion of U.S. households dropped to 4.2% last year, the regulator said in its biennial survey. But racial disparity persists: 32.3% of unbanked households are Black and 33.4% are Hispanic, the FDIC found.
By Caitlin Mullen • Nov. 13, 2024 -
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Klarna files for IPO
The buy now, pay later company announced Tuesday it had filed confidentially with the Securities and Exchange Commission for an initial public offering.
By Patrick Cooley • Nov. 13, 2024 -
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Cross River drops lawsuit against Fiserv subsidiary
The Fort Lee, New Jersey-based lender dismissed its lawsuit against First Data Merchant Services, which was filed in October 2023, without disclosing a reason.
By Rajashree Chakravarty • Nov. 6, 2024 -
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Fed aims to make instant payments the norm
“It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at an industry conference last week.
By Lynne Marek and Patrick Cooley • Nov. 5, 2024 -
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Stablecoins face obstacles to widespread adoption
The digital currencies could simplify cross-border payments, but consumers are wary of using them, payments and fintech executives say.
By Patrick Cooley • Nov. 4, 2024 -
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Flagstar taps CIO, credit review chief
The bank has brought on a number of new executives this year and also completed the sale of its mortgage business to Mr. Cooper on Friday.
By Gabrielle Saulsbery • Nov. 4, 2024 -
CFPB fines VyStar $1.5M over 2022 outage
The order requires the Jacksonville, Florida-based credit union to reimburse fees and costs to members from the botched rollout of an online banking system.
By Rajashree Chakravarty • Nov. 1, 2024 -
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Kraken cuts staff, appoints co-CEO and CFO
The crypto exchange has cut about 400 employees, sources told The New York Times, in an effort to be “leaner and faster.” The move comes alongside changes in the company's C-suite.
By Gabrielle Saulsbery • Nov. 1, 2024 -
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Singh, fourth FTX exec sentenced, avoids prison
Former FTX engineering chief Nishad Singh showed an “eagerness to assist” the prosecution during its case against Sam Bankman-Fried, and a similar energy to help CEO John Ray in FTX's bankruptcy case.
By Gabrielle Saulsbery • Oct. 31, 2024 -
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Consensys to slash 20% of workforce
The blockchain software firm best known for its self-custodial MetaMask wallet cited regulatory uncertainty and a push toward “rigorous decentralization.”
By Gabrielle Saulsbery • Oct. 30, 2024 -
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JPMorgan Chase sues customers who exploited viral ‘glitch’
With four nearly identical lawsuits, the nation’s largest bank wants users to return hundreds of thousands of dollars taken in a scheme promoted on TikTok.
By Gabrielle Saulsbery • Oct. 29, 2024 -
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Citi taps Google Cloud for app migration, AI adoption
The bank, as part of a broad modernization push, announced a multiyear partnership Monday with the hyperscaler.
By Matt Ashare • Oct. 28, 2024 -
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Pay-by-bank to be used for bills, Plaid CEO predicts
Plaid CEO Zach Perret expects consumers to use pay-by-bank services for mortgage and utility payments, but is skeptical they will be used to pay at restaurants or for groceries any time soon, he said.
By Patrick Cooley • Oct. 28, 2024 -
TU IS
Kraken to launch its own blockchain
Ink will be rolled out to retail and institutional users early next year, with the aim to offer decentralized finance to a larger audience.
By Gabrielle Saulsbery • Oct. 28, 2024 -
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Goldman, Apple to pay CFPB $89.8M over Apple Card issues
The bank and tech firm failed to address disputed transactions from their joint Apple Card program, the bureau alleged, and misled cardholders about interest-bearing products.
By Gabrielle Saulsbery • Oct. 23, 2024 -
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Santander debuts digital bank in US
With Openbank, already established in Europe, the lender aims to accelerate its U.S. growth strategy by generating more deposits to fund its auto lending.
By Rajashree Chakravarty • Oct. 22, 2024 -
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Fiserv may grab competitive edge with new bank charter
The payments processor can undercut rivals on price because it won’t be paying bank fees, industry consultants say.
By Patrick Cooley • Oct. 21, 2024 -
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OCC hits Florida bank over AML concerns
Maitland-based Axiom Bank agreed to revamp its BSA/AML program and look back at its suspicious activity reporting history.
By Gabrielle Saulsbery • Oct. 18, 2024
