A financial solution built for America’s changing workforce

Something even more disruptive than perpetual job-hopping is underway.

Nov. 14, 2022

Sam Bankman-Fried steps down as FTX CEO amid bankruptcy filing

FTX.com’s assets were frozen in the Bahamas, where the company is headquartered. Crypto lender BlockFi also paused withdrawals because of its exposure to FTX.

By Gabrielle Saulsbery • Nov. 11, 2022

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

Green Dot focuses on tech modernization amid leadership shakeup

The company named a CFO, COO and chief revenue officer, and said two BaaS partners recently extended their contracts.

By Suman Bhattacharyya • Nov. 11, 2022

SEC, DOJ probe FTX as Binance backs out of acquisition

Regulator investigations have been going on for months but came to light amid Binance’s now-canceled bid to purchase the exchange.

By Gabrielle Saulsbery • Nov. 10, 2022

Puerto Rico’s FV Bank launches digital asset custody

The bank joins exclusive company in allowing clients to hold, transfer and settle crypto and fiat currencies in one account. But the move comes as confidence in crypto appears shaken.

By Rajashree Chakravarty • Nov. 10, 2022

How Upgrade became a ‘marketing engine’ for deposit-hungry banks

The neobank is leveraging its network of more than 200 community banks and credit unions to offer users one of the industry’s highest savings rates.

By Anna Hrushka • Nov. 9, 2022

Binance to acquire rival FTX amid ‘liquidity crunch’

FTX founder Sam Bankman-Fried announced the deal two days after Binance CEO Changpeng Zhao said he’d dump his holdings of FTX native coin FTT.

By Gabrielle Saulsbery • Nov. 8, 2022

A CBDC could make cross-border payments faster, safer: NY Fed

Researchers designed a prototype digital currency and blockchain and simulated foreign exchange spot transactions that cleared within 10 seconds but said the study doesn’t endorse a CBDC or assume the Fed will issue one.

By Rajashree Chakravarty • Nov. 8, 2022

FedNow gives fee holiday in 2023

The Fed reiterated the fees the banks will ultimately charge — namely, customer credit transfer and customer credit transfer return fees of $0.045 per-item and a participation fee of $25 per routing transit number per month.

By Lynne Marek • Nov. 7, 2022

Indiana-based First Financial to cut 10% of its branch footprint

The bank plans to consolidate seven of its 72 locations by the first quarter of 2023, citing customers' shift to digital platforms in what may stand as a microcosm for a national trend.

By Rajashree Chakravarty • Nov. 3, 2022

Digital bank Chime cuts 12% of workforce

Chime co-founder and CEO Chris Britt said the move would allow the company to flourish “regardless of market conditions," according to an internal memo.

By Gabrielle Saulsbery • Nov. 2, 2022

Safe Harbor to buy cannabis banking, payments fintech

The deal will add 300 accounts to Safe Harbor’s portfolio and expand the firm’s operations to more than 30 states.

By Anna Hrushka • Nov. 2, 2022

Small business owners want more advice from banks, study finds

A J.D. Power study found that small businesses trust banks and are seeking practical advice to pull through tough economic conditions.

By Rajashree Chakravarty • Nov. 1, 2022

How hyperautomation transforms the bank customer experience

Though banks are early adopters of technology and their customers are eager to take full advantage of innovation; traditional financial services companies face a big dilemma, especially when it comes to delivering the many benefits of automation to their customers.

Oct. 31, 2022

New OCC office to focus on fintech

The regulator said it plans to open the office next year in response to the growing complexity of bank-fintech partnerships.

By Anna Hrushka • Oct. 28, 2022

Here’s what Brett Harrison expects in the crypto market

The "decade of free money" is ending, but the future is bright, said the former president of FTX US. 

By Gabrielle Saulsbery • Oct. 27, 2022

Boost Mobile ventures into banking

“We've got millions of customers coming into Boost stores who are paying in cash every month,” CEO Stephen Stokols said. “We thought, ‘We give them the connectivity. Can we give them the banking services, as well?’”

By Anna Hrushka • Oct. 27, 2022

FedNow will be a ‘public utility model,’ Waller says

The central bank governor equated the nascent system with an interstate highway on which private companies will provide "on-ramps" and "off-ramps."

By Lynne Marek • Oct. 26, 2022

New Truist innovation team includes Long Game engineers

“The decisions that banks make over the next two to three years from a technology perspective are going to define who wins over the next decade,” said Christina Bechhold Russ, head of strategic initiatives at Truist Ventures.

By Suman Bhattacharyya • Oct. 26, 2022

Marqeta launches demand deposit accounts in banking push

The company's suite of seven banking products includes early wage access, bill pay and instant funding. The latter two will be available in beta next year.

By Gabrielle Saulsbery • Oct. 25, 2022

Banking-as-a-service grows as regulators play catch-up

The BaaS space is expected to reach $74.55 billion by 2030, and has emerged as an enticing revenue stream for community banks. Meanwhile, the OCC has hinted more regulation is forthcoming.

By Anna Hrushka • Oct. 25, 2022

Meeting your customers where they are—5 tips to keep banking secure from anywhere

Modern technology, including environmental sensors and cloud-managed smart cameras, provides innovative solutions and in fact has never been more important for banking institutions.

Oct. 24, 2022

Wells Fargo taps Google AI on virtual assistant launch

“This partnership will expand our customers’ digital financial support network by enabling meaningful money conversations,” the bank’s head of digital said.

By Gabrielle Saulsbery • Oct. 24, 2022

JPMorgan taps ex-Celsius exec for crypto legal post

The bank appears to be expanding its digital assets legal team despite CEO Jamie Dimon’s well-known skepticism. Aaron Iovine began the year at Cross River Bank before an eight-month stint at Celsius.

By Gabrielle Saulsbery • Oct. 19, 2022

Climate-conscious neobank Aspiration names new CEO

The leadership transition comes a year after the company announced plans to go public through a merger with special-purpose acquisition company InterPrivate III Financial Partners Inc.

By Anna Hrushka • Oct. 18, 2022