Technology: Page 33
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Istock/AzmanJaka
Sponsored by BackbaseRe-architect banking around the customer
Backbase delivers complete, end-to-end solution with the help of Microsoft.
Nov. 22, 2021 -
Chip Somodevilla via Getty Images
Fed's Waller warns against bank-only stablecoins
"While regulations are necessary, they also limit free entry into at least some of the markets in which banks operate," Waller said. "As a result, regulatory oversight can insulate banks from some forms of direct competition."
By Robin Bradley • Nov. 18, 2021 -
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 -
N26
German challenger bank N26 to shutter US operations
Accounts for the fintech's 500,000 U.S. customers will be closed Jan. 11. The company is aiming to expand into more countries in eastern Europe and still plans to launch services in Brazil.
By Dan Ennis • Nov. 18, 2021 -
Permission granted by U.S. Bank
U.S. Bank to buy travel and expense management fintech TravelBank
After a yearlong partnership, the Minneapolis lender opted to buy the fintech outright, in a deal reportedly worth $200 million.
By Robin Bradley • Nov. 17, 2021 -
Column
Ripple puts SEC on losing end in crypto regulation proposal
The company said the existing framework can be adapted to fit crypto and touted legislation that would de-emphasize the SEC's role in favor of the CFTC.
By Dan Ennis • Nov. 17, 2021 -
LMI lender Oportun to buy digital bank Digit in $213M cash-equity deal
The deal will result in Digit and Oportun having access to a combined 1.4 million members, to whom both entities plan to cross-sell their products.
By Anna Hrushka • Nov. 16, 2021 -
Getty
Connecticut bank, fintech merge with an eye toward digital national bank
Stamford-based Patriot National Bank will pay $119 million to buy American Challenger Development Corp., a company that had been pursuing a de novo charter, in a deal announced Monday.
By Robin Bradley • Nov. 15, 2021 -
Permission granted by BankMobile
BM Technologies to buy Seattle community bank to 'accelerate earnings power'
The $23 million deal, set to close in the second half of 2022, will allow BM Technologies to supplement fee-based income with net interest income, CEO Luvleen Sidhu said.
By Anna Hrushka • Nov. 15, 2021 -
Michael M. Santiago via Getty Images
Banks outpace other industries in cyber investments, defense strategies: report
"Still, we view the banking sector as high risk in terms of cybersecurity, because of how attractive it is as a target for many different types of attackers," said Lesley Ritter, a vice president and senior analyst at Moody's.
By David Jones • Nov. 15, 2021 -
Dan Kitwood/Getty Images News via Getty Images
Crypto creeps into the checkout line
Payments firms are betting on crypto's growth as an asset class to fuel crypto adoption at checkout.
By Suman Bhattacharyya • Nov. 10, 2021 -
Permission granted by Step
How neobanks are cashing in on the Gen Z market
While parents' banking habits influence their children, researchers found, the difference in those habits is getting progressively wider.
By Anna Hrushka • Nov. 10, 2021 -
Michael Nagle via Getty Images
Hiring tech talent a 'major priority' for Chase, CIO says
As competition heats up in the hiring space, some large banks are leveraging flexibility in the form of hybrid work schedules and larger salaries.
By Robin Bradley • Nov. 8, 2021 -
Permission granted by Current
Why Current built its core technology in-house
Curbing the need for a third-party processor helps money move faster, said the fintech's CTO, Trevor Marshall. "When I think of a checking account, I think of a parking lot," he said. "Current is about movement."
By Suman Bhattacharyya • Nov. 8, 2021 -
Opinion
Is finance ready for the super-app revolution?
With a market of specialized fintech offerings and a customer base hungry for streamlined solutions, there's a race to become the provider of all services. The burden lies on the platform provider to deliver an exceptional experience.
By Kathryn Petralia • Nov. 5, 2021 -
Permission granted by Jiko
Digital bank Jiko accelerates banking-as-a-service strategy
The Jiko app is still available for consumers to download, and the company plans to keep enhancing its features, but its main use will serve as a "showroom" for Jiko's technology, CEO Stephane Lintner said.
By Anna Hrushka • Nov. 4, 2021 -
Regulators to issue policy on crypto, stablecoins, FDIC chair says
Jelena McWilliams shared details about the interagency "crypto sprint" involving the FDIC, the OCC and the Fed, and said the agencies plan to issue a series of policy statements in the coming months.
By Anna Hrushka • Oct. 26, 2021 -
Justin Sullivan via Getty Images
Why Green Dot is bullish on brick-and-mortar retail
CEO Dan Henry said he is confident Green Dot's partnerships with select retailers that are expanding help it fulfill a need for a demographic that still relies heavily on cash.
By Anna Hrushka • Oct. 26, 2021 -
Mark Wilson via Getty Images
Pandemic widens mobile's lead as preferred way to bank, survey finds
About 44% of customers rated mobile the top option since the pandemic began — an 11-point jump from pre-COVID times, according to the ABA. Over that time, in-branch visits fell by the same margin.
By Robin Bradley • Oct. 26, 2021 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo aims to debut revamped mobile app, virtual assistant next year
The bank's digital user interactions trail JPMorgan and Bank of America. But Wells last year brought onboard an executive who helped develop BofA's Erica.
By Dan Ennis • Oct. 25, 2021 -
Permission granted by Vast Bank
Vast Bank's new platform aims for the 'crypto curious'
"Banks for centuries have been safe keepers and custodians of what people value," said CEO Brad Scrivner. "And in today's world, that's now digital assets."
By Anna Hrushka • Oct. 21, 2021 -
Chris Hondros via Getty Images
Goldman Sachs, AmEx debut cloud-based payments service for corporate clients
The investment bank is partnering with the world's largest card issuer for businesses in an effort to make payments easier and more efficient for institutional clients.
By Robin Bradley • Oct. 20, 2021 -
Courtesy of Coinbase
Coinbase sees single regulator, new framework for crypto supervision
The approach would keep companies from having to comply with several agencies, which are adapting old laws to new tech, and help maintain the U.S.'s status as a "shaper" of oversight, Coinbase said.
By Dan Ennis • Oct. 18, 2021 -
Truist Financial
Truist nets $1.6B profit, marks major conversion milestone in Q3
"We're committed to having a business that has positive operating leverage and has industry leading efficiency," new CEO Bill Rogers said Friday. "I feel more confident about that today than I did the day we announced the merger."
By Anna Hrushka • Oct. 15, 2021 -
Automation helped Black borrowers get more out of PPP at fintechs, big banks: study
"The human brain is a much scarier black box than any machine-learning algorithm," said Sabrina T. Howell, the paper's lead author. The ICBA, however, disputed some of the study's findings.
By Anna Hrushka • Oct. 12, 2021 -
Justin Sullivan via Getty Images
Andreessen Horowitz poaches 2 crypto execs from Facebook's Novi
It wouldn't be the first adversity the social network's digital currency effort has faced — nor the first time this year a pair of executives have fled an established market player in tandem for a more startup-like environment.
By Dan Ennis • Oct. 12, 2021
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