CBDC ecosystem risks fragmentation, trade group says

A set of common rules and standards, allowing for interoperability between public and private blockchains, would be crucial to building an international system, the Faster Payments Council said.

By Lynne Marek • June 5, 2023

Fed issues consent order to Silvergate to ensure wind-down

Silvergate must submit a self-liquidation and wind-down plan within 10 days to the central bank and California’s Department of Financial Protection and Innovation.

By Gabrielle Saulsbery • June 2, 2023

Explore the Trendline➔

Artificial 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

TD’s Cowen shuts down crypto unit

Cowen had launched digital asset services in March 2022. An email seen by Bloomberg indicated May 31 was “the last day” for the unit and its 10 employees.

By Gabrielle Saulsbery • June 1, 2023

Goldman Sachs’ playbook for keeping innovation alive

The investment bank's technology fellowship program allows engineers to advance into tech leadership roles.

By Matt Ashare • June 1, 2023

JPMorgan applies for patent on ChatGPT-like tech for investment advice

"We've recognized the power and opportunity of these tools and are committed to exploring all the ways they can deliver value for the firm,” JPMorgan Chief Information Officer Lori Beer said.

By Dan Ennis • May 26, 2023

5 questions on Dave’s in-app moneymaking feature

Making money from surveys isn’t some Craigslist scam. It’s a fintech feature — and Dave CEO Jason Wilk said it’s made members $1 million since December.

By Gabrielle Saulsbery • May 24, 2023

Apple’s financial moves could offer lesson for fintechs

The tech giant’s foray into financial services poses a threat and opportunity for fintechs to innovate and grow their digital-first strategy.

By Rajashree Chakravarty • May 24, 2023

Fifth Third acquires embedded payments fintech Rize

Acquiring Rize bolsters Fifth Third's existing embedded payments business and adds to its treasury management business, the bank said.

By Gabrielle Saulsbery • May 23, 2023

First Citizens sues HSBC over departure of 42 SVB bankers

The North Carolina bank accused a former SVB executive of helping HSBC, his new employer, incite a mass migration of talent and trade-secret information.

By Dan Ennis • May 23, 2023

Crypto company offers 6 months of free custody for female-founded firms

Clear regulations will bring more women into the space, Aegis Custody CEO Serra Wei said.

By Gabrielle Saulsbery • May 19, 2023

Truist launches its first gamified finance app

The app is the first product of Truist Foundry, the startup within the bank that focuses on creating digital solutions for clients.

By Rajashree Chakravarty • May 18, 2023

Ripple buys Swiss crypto custody firm Metaco for $250M

“I think this [deal] will really be a mark of a crypto spring,” Ripple CEO Brad Garlinghouse told CNBC.

By Dan Ennis • May 17, 2023

Bank of America launches fintech accelerator program

Participants in Breakthrough Lab — which is offered at no cost — are not expected or required to exchange equity with Bank of America, the bank said.

By Anna Hrushka • May 17, 2023

Dave sees profitability within a few quarters

The neobank’s CFO credits AI technology, smart marketing spend and a "good value proposition." Dave’s most popular product, ExtraCash, accounted for roughly 80% of the company’s revenue in the first quarter.

By Gabrielle Saulsbery • May 12, 2023

MoneyLion to add ChatGPT-powered search to its marketplace

MoneyLion CEO Dee Choubey believes tools like the popular text generator will eventually become table stakes in the finance sector.

By Anna Hrushka • May 10, 2023

Binance exec speaks out against US crypto regs

It’s “very difficult” to do business in the U.S. right now, the exchange's chief strategy officer, Patrick Hillmann, said, adding the country is in a “weird place.”

By Gabrielle Saulsbery • May 10, 2023

US arm of crypto exchange Bittrex files for bankruptcy

The company ceased U.S. operations in April, the same month it was charged by the SEC for allegedly operating an unregistered exchange.

By Gabrielle Saulsbery • May 9, 2023

Catawba Indian Nation passes code to woo banks, fintechs

The Catawba Digital Economic Zone hopes to gain regulatory approval for de novo banks to receive charters under the laws of the reservation’s federally recognized land.

By Anna Hrushka • May 8, 2023

How near-site solutions help CTOs manage print needs and free up valuable resources

CTOs are exceptionally vulnerable to aging IT infrastructure, especially when coupled with the elusive goal of reduced spending.

May 8, 2023

NY AG proposes landmark crypto bill

Letitia James has come out as a strong proponent of crypto regulations in recent months, suing multiple crypto companies since January.

By Gabrielle Saulsbery • May 5, 2023

Savana takes on Woodforest National Bank integration

As the operational layer above the bank’s core, Savana will deploy its software across Woodforest’s call center, back office and branch operations.

By Anna Hrushka • May 3, 2023

How Capital One is democratizing machine learning to curb fraud

The bank found opportunities for cross-unit collaboration, using tech to spot potential fraud more efficiently.

By Roberto Torres • May 2, 2023

FDIC orders Cross River to correct ‘unsafe’ lending practices

The $9 billion-asset bank, which neither admitted nor denied the charges, is not allowed to enter into any new partnerships with third parties or offer new credit products without the regulator’s approval.

By Anna Hrushka • May 1, 2023

FTX to sell derivatives platform LedgerX for $50M

FTX bought LedgerX in October 2021 to expand its regulated futures and options offerings in the U.S.

By Gabrielle Saulsbery • April 27, 2023

Former Amex execs raise $78M for early stage fintech fund

Women-led Vesey Ventures, which has already invested in five startups, aims to bridge the gap between companies in need of new technologies and those building them.

By Rajashree Chakravarty • April 26, 2023