Square may soon offer small-business checking and savings accounts, app code shows

The code indicates the company will not charge monthly service fees, minimum balance fees or overdrafts on its checking account, and will offer a 0.5% interest rate on its savings account through 2021, Bloomberg reported.

By Dan Ennis • May 25, 2021

Fed paper this summer aims to spur 'broad conversation' on CBDC

"Our key focus is on whether and how a [central bank digital currency] could improve on an already safe, effective, dynamic and efficient U.S. domestic payments system," Chair Jerome Powell said Thursday in a video statement.

By Lynne Marek • May 21, 2021

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

Neobank Lance targets gig economy's income volatility

The New York City-based challenger divides a user's payments into sub-accounts for salary, tax withholdings, business expense balance and a savings account.

By Anna Hrushka • May 18, 2021

Green Dot doubles down on tax refund processing

The prepaid card company-turned-bank's plan to buy Republic Bank's tax refund processing unit for $165 million is expected to close in this year's fourth quarter.

By Lynne Marek • May 14, 2021

Facebook-backed Diem withdraws Finma application, shifts to US

Diem Networks U.S. will register as a money services business with the Financial Crimes Enforcement Network, and Silvergate Bank will become the exclusive issuer of Diem's dollar-backed stablecoin.

By Anna Hrushka • May 13, 2021

Climate First Bank finds fintech partner with a similarly green mission

Atmos launched in January with a savings product, and allows customers to donate to 41 climate, clean energy and sustainability nonprofits directly from their accounts.

By Anna Hrushka • May 12, 2021

JPMorgan tech exec promotions show modernization plans, data priorities

James Reid and Melissa Goldman will move to their new positions as the bank prepares to reopen its U.S. offices.

By Katie Malone • May 10, 2021

'We cannot stay still': Inside Green Dot's path to BaaS growth

The Pasadena, California-based company has made a name for itself as a financial services enabler for some of the nation's biggest brands. But competition in the space could create new headwinds.

By Suman Bhattacharyya • May 10, 2021

Square's Bitcoin revenue soars, eyes lending, Tidal app engagement

After exceeding earnings estimates, Square looks to drive user engagement and individual lending through its CashApp.

By Vaidik Trivedi • May 7, 2021

Cryptocurrency fuels ransomware payments. Without regulation, it could get worse

The rapid ascent of crypto, like other emerging technologies before it, has far outpaced the federal government's ability to regulate it.

By Samantha Schwartz • May 7, 2021

Traditional banks mirror challengers with new digital offerings

"There's a story behind every one of these kinds of overdrafts," said Jimmy Stead, chief consumer banking officer at Frost Bank, which launched an overdraft grace feature last month.

By Anna Hrushka • May 7, 2021

Citi sits on the cusp of a crypto push

The bank, however, won't make any rash decisions on digital asset offerings. "This isn't a space race," Itay Tuchman, Citi's head of global foreign exchange, told the Financial Times. "There is room for more than just one flag."

By Dan Ennis • May 7, 2021

California regulator orders Chime to stop calling itself a bank

The fintech has until May 15 to revise its website and advertising in accordance with the California regulator's order and has until June 15 to perform quality control and testing of the changes.

By Anna Hrushka • May 6, 2021

FIS links with NYDIG to offer Bitcoin services

The rise in Bitcoin's value over the past year has spurred a host of companies to rethink their initial skepticism of cryptocurrencies.

By Lynne Marek • May 5, 2021

Cryptocurrency startup Ripple hires new CFO amid SEC lawsuit

Kristina Campbell spent five years as CFO of billing and payments firm PayNearMe and, previously, served in various operations and management roles at fintech Green Dot.

By Jane Thier • May 5, 2021

Massachusetts credit union blends tech, financial-coaching focus

Workers Credit Union's latest branches feature interactive holograms, video ATMs — and employees aiming to de-stigmatize money.

By Anna Hrushka • May 4, 2021

How Quontic Bank adapts to crypto, remote work and wearable tech

Since purchasing the institution in 2009, CEO Steven Schnall, an entrepreneur and former mortgage banker, has been molding the bank to reflect his vision.

By Anna Hrushka • April 30, 2021

First Horizon breach highlights rising cyber threats against banks

The compromise affected fewer than 200 online accounts for a loss of less than $1 million. But three-quarters of financial institutions saw a rise in cybercrime in the year after March 2020, according to a BAE Systems report.

By David Jones • April 29, 2021

Neobank Current adds crypto to product roadmap after $220M funding boost

"There is a need and a demand for a company like Current to explain and shepherd people into this new world," CEO Stuart Sopp said.

By Anna Hrushka • April 28, 2021

Barclays US to offer merchants buy-now-pay-later feature

"We plan to use this to supercharge our growth and give our partners and our customers more options to buy stuff with," said Barclays US CEO Denny Nealon.

By Anna Hrushka • April 27, 2021

What now? 3 steps for taking a post-COVID approach to FSI customer engagement

Learn 3 steps to accelerate digital-first customer engagement in the post pandemic world.

April 26, 2021

Crypto exchange Binance hires ex-OCC chief Brooks as US CEO

Hiring an executive with intimate knowledge of U.S. regulations presumably would help the exchange, initially based in China, expand its stateside operations without raising red flags.

By Dan Ennis • April 20, 2021

Policy questions remain as global governments explore CBDCs

Bank Policy Institute's chief examines the impact and drawbacks of various models of digital coin as the Fed and other countries forge ahead.

By Anna Hrushka • April 19, 2021

JPMorgan Chase reports $14.3B profit, boosted by $5.2B reserve release

During a call with analysts, CEO Jamie Dimon teased several upcoming features, including personalized apps, robo investing and global wallets, as the bank tries to keep pace with fintech innovations.

By Anna Hrushka • April 14, 2021

With neobank purchase, Avant mirrors SoFi's path

Buying Level gives Avant direct access to customers' account information, allowing it to look at people's cash flow, spending, bill pay — data points for which Avant currently pays an aggregator.

By Dan Ennis • April 13, 2021