Technology: Page 3
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Permission granted by Sezzle
Q&ASezzle evolves alongside BNPL industry
The company now offers more products but also faces more regulatory pressure, Sezzle CEO Charlie Youakim said.
By Patrick Cooley • Sept. 25, 2024 -
Matt Sampson Photography/ iStock / Getty Images Plus via Getty Images
Silvergate exec cites ‘supervisory pressure’ in bankruptcy filing
The crypto-heavy bank's parent company has no remaining lines of business and followed its subsidiary into Chapter 11 on Tuesday.
By Gabrielle Saulsbery • Sept. 19, 2024 -
Explore the Trendline➔
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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 -
Permission granted by Brex
Brex rolls out embedded payments tool
With the new offering, the fintech aims to capture a larger share of the B2B payments market, working with partners in addition to selling directly, Brex's president said.
By Rajashree Chakravarty • Sept. 18, 2024 -
Douglas Rissing via Getty Images
Fed payments proposal pits big banks against small rivals
Large institutions welcome the move to extend the operating hours of two interbank payments systems, but smaller ones may feel the squeeze of increased workload, staffing and competition.
By Lynne Marek • Sept. 18, 2024 -
Anna Hrushka/Banking Dive
FDIC seeks tougher recordkeeping on fintech partners
The regulator also approved a policy update to consider small business and residential loan originations, in addition to deposits, when evaluating a merger’s competitive effects.
By Gabrielle Saulsbery • Sept. 17, 2024 -
Mario Tama / Staff via Getty Images
BNY CFO: Archer purchase fills ‘capability gap’
In the balance of build-vs.-buy, the bank was creating too much from scratch, and to build its own retail wealth pathway would have been a “bridge too far,” BNY CFO Dermot McDonogh said last week.
By Caitlin Mullen • Sept. 17, 2024 -
Spencer Platt / Staff via Getty Images
Citi tech chief to share data responsibility with COO: memo
Anand Selva will co-lead the data program with Tim Ryan. Japan Mehta, the outgoing data chief, will transition Ashutosh Nawani into the new role of head of enterprise data office and data transformation, the memo said.
By Rajashree Chakravarty • Sept. 16, 2024 -
Courtesy of U.S. Bank
U.S. Bank reaches its proving ground
The super-regional is at an “inflection point” after recent acquisitions and tech updates, CEO Andy Cecere said at the bank’s investor day. One analyst, however, is calling for “a new set of eyes at the top.”
By Caitlin Mullen • Sept. 13, 2024 -
Spencer Platt via Getty Images
JPMorgan Chase to equip 140K workers with genAI tool
The bank expects up to $2 billion in artificial intelligence-related upside, President Daniel Pinto said at this week's Barclays conference.
By Lindsey Wilkinson • Sept. 12, 2024 -
Permission granted by SpringFour
Debt recovery software firm acquires SpringFour
Under the acquisition by C&R Software, social impact fintech SpringFour plans to continue innovating and bringing new solutions and products to the collections and debt recovery market.
By Rajashree Chakravarty • Sept. 4, 2024 -
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VersaBank completes purchase of tiny Minnesota bank
The purchase gives the Canadian lender a bank charter and access to federal deposit insurance as it strives to grow its primary point-of-sale lending product.
By Gabrielle Saulsbery • Sept. 4, 2024 -
Win McNamee via Getty Images
CFPB slammed with EWA commentary
The Consumer Financial Protection Bureau asked for public feedback on its earned wage access rule proposal and it got an earful.
By Lynne Marek • Sept. 4, 2024 -
Spencer Platt via Getty Images
Viral JPMorgan Chase glitch is ‘fraud, plain and simple,’ bank says
Some customers deposited bad checks and immediately withdrew funds before the checks bounced in a glitch that went viral on TikTok. Now, some users have holds on their accounts.
By Gabrielle Saulsbery • Sept. 3, 2024 -
Just_Super via Getty Images
Custodia cuts 25% of its staff amid Fed lawsuit: report
The digital asset-focused bank, chartered in Wyoming, is putting its resources toward an ongoing lawsuit with the Federal Reserve, which denied the lender a master account last year.
By Gabrielle Saulsbery • Aug. 30, 2024 -
Permission granted by TDECU
Texas credit union discovers year-old data breach
TDECU fell victim to last year’s MoveIt data breach, but only found out in July. The credit union said the incident is not expected to impact its acquisition of a Louisiana bank.
By Gabrielle Saulsbery • Aug. 29, 2024 -
Courtesy of U.S. Bank
U.S. Bank works to simplify SMB banking, payments
To stand out from competitors, the Minneapolis-based lender has also expanded its SBA loan program over the last year, said Shruti Patel, chief product officer for business banking.
By Caitlin Mullen • Aug. 29, 2024 -
Sarah Silbiger via Getty Images
Fed’s Waller questions faster cross-border payments ties
There could be more fraud and money laundering if countries move too quickly to link their faster payments systems, the central bank governor said Wednesday at a conference.
By Lynne Marek • Aug. 29, 2024 -
Permission granted by Unit Finance
Unit launches business continuity tool for bank partners of fintechs that fail
If a fintech powered by one of Unit’s partner banks fails, the bank can immediately connect to end users, with no service disruption, CEO Itai Damti said.
By Gabrielle Saulsbery • Aug. 28, 2024 -
Just_Super via Getty Images
Abra settles SEC charges over unregistered securities
All assets, plus interest, have been returned to Abra Earn customers since the program shuttered in 2023, CEO Bill Barhydt said Monday on social media.
By Gabrielle Saulsbery • Aug. 27, 2024 -
Dan Kitwood via Getty Images
Kraken must face SEC lawsuit, judge rules
The Securities and Exchange Commission sued the crypto firm in November for allegedly operating an unregistered securities exchange. A judge denied Kraken’s motion for dismissal Friday.
By Gabrielle Saulsbery • Aug. 26, 2024 -
Permission granted by Kenady Ghent
Zions vet looks to optimize TAB’s ‘sweet spot’ as new CIO
“Technology can be as critical an enabler as you want it to be,” said Tami Fisher, who spent 18 years at the Salt Lake City regional before jumping to TAB in July.
By Caitlin Mullen • Aug. 26, 2024 -
Leon Neal / Staff via Getty Images
Partner of former FTX exec hit with campaign finance charges
Now, Ryan Salame has asked a New York judge to void his guilty plea, which he attests was made following a verbal agreement with prosecutors that they would drop their probe into his partner Michelle Bond.
By Gabrielle Saulsbery • Aug. 23, 2024 -
heyengel via Getty Images
Lettuce Financial gets $15M in fresh funding
The tax and accounting fintech has had a busy year announcing two funding rounds, launching a major product and inking several partnerships to serve the solopreneur community.
By Gabrielle Saulsbery • Aug. 21, 2024 -
Permission granted by Money 20/20
Q&AMarqeta CEO says his platform is no ‘single-trick pony’
Simon Khalaf cites the need for banks to change their behavior to focus on customer service. He also says upcoming underwriting tech could put the banking sector “on steroids.”
By Rajashree Chakravarty • Aug. 21, 2024 -
Courtesy of U.S. Bank
U.S. Bank doubles down on AR with Billtrust
The Minneapolis-based bank’s new offering seeks to accelerate the accounts receivable process — sometimes viewed as a laggard in the race to automate finance.
By Maura Webber Sadovi • Aug. 20, 2024
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