Technology: Page 40
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Chime customers file hundreds of CFPB complaints over locked accounts: report
In an attempt to root out fraud related to government-backed pandemic aid, the fintech may have inadvertently closed hundreds of legitimate customer accounts, ProPublica reported Tuesday.
By Anna Hrushka • July 7, 2021 -
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Binance.US hires ex-leader of California's 'mini-CFPB'
Manny Alvarez, who left the state's Department of Financial Protection and Innovation last month, will oversee risk, compliance and legal under former Acting Comptroller Brian Brooks.
By Dan Ennis • July 7, 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 -
Chime, Current lead US banking app downloads in first half of 2021: report
The top 10 digital-first banking apps in the U.S. recorded 16.33 million installs during the first half of 2021, according to a report that indicated European neobanks are lagging their U.S.-based competitors in market share gains.
By Anna Hrushka • July 6, 2021 -
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Credit Suisse poaches tech, risk execs from Goldman Sachs
Weeks apart, Goldman loses a pair of 24-year veterans — David Wildermuth and Joanne Hannaford — who will become the Swiss bank's next chief risk officer and CTO/COO, respectively, early next year.
By Dan Ennis • Updated July 27, 2021 -
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Fintech Karat aims to become influencers' bank, raises $26M
The company plans to move beyond credit cards and offer a suite of tools, including bank accounts and tax preparation services, for the creator economy.
By Anna Hrushka • July 2, 2021 -
Justin Sullivan via Getty Images
Wealth management fintech gets boost from Florida community bank
A $2.5 million investment from Coral Gables-based Amerant Bank accounted for half of a Series A funding round for Marstone, whose CEO says the pandemic has accelerated every institution's digital roadmap.
By Anna Hrushka • June 30, 2021 -
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Quarles: Fed-backed digital currency poses 'significant' risks, 'unclear' benefits
His comments Monday, in which he compares cryptocurrencies to parachute pants, show the central bank is far from unified on digital dollar development.
By Dan Ennis • June 29, 2021 -
Chris Hondros via Getty Images
JPMorgan Chase eyes 3rd fintech acquisition in the past year
The latest tie-up follows a busy year of deal activity for the U.S.'s largest bank, which is also eyeing growth opportunities in the U.K. and Brazil.
By Anna Hrushka • June 29, 2021 -
Dan Kitwood/Getty Images News via Getty Images
British regulator warns Binance to halt UK activity
Twitter, meanwhile, has seen complaints from Binance customers who said they were prevented from withdrawing pounds using the U.K.'s Faster Payments system.
By Dan Ennis • Updated July 9, 2021 -
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Neobanks expand, add products for US immigrant market
Majority secured $19 million in seed funding to help it expand nationally. Remitly's Passbook debuted a series of new features. And Fair officially launched.
By Anna Hrushka • June 25, 2021 -
Justin Sullivan via Getty Images
Citi launches digital assets unit, confirming crypto plans
The bank becomes the second U.S.-based SIFI, after State Street, to form a crypto-centered business this month — at a time when central banks are casting doubt over the tokens' volatility.
By Dan Ennis • June 25, 2021 -
Dan Kitwood via Getty Images
ColumnBIS report shows growing divide on crypto
Central banks strike a second blow against digital tokens. Stablecoins, too, this time. The dissonance between market and government may come down to timing, or an age-old pattern concerning risk.
By Dan Ennis • June 24, 2021 -
Courtesy of Fifth Third
Fifth Third to acquire healthcare fintech Provide
The Cincinnati bank follows another Ohio-based lender in tailoring its financial services to the healthcare industry. Cleveland-based KeyBank launched Laurel Road for Doctors in March.
By Anna Hrushka • June 23, 2021 -
Dan Kitwood via Getty Images
Fiserv partners with NYDIG to offer Bitcoin services
The deal comes a month after NYDIG inked a Bitcoin services agreement with fellow payments processor FIS, and as big banks broaden their offerings surrounding cryptocurrency.
By Vaidik Trivedi • June 23, 2021 -
Dan Kitwood via Getty Images
Goldman Sachs expands transaction banking services to UK
The bank said last year it wants to move more money around the world for large companies — a more stable revenue stream than trading. Goldman says its technology platform can open accounts in minutes instead of months.
By Dan Ennis • June 22, 2021 -
Courtesy of General Assembly
Discover makes a crypto move with new hire
With the hiring of a new manager for blockchain and digital currency, Discover Financial is planting a flag in the card company race to grab a share of money increasingly flowing through cryptocurrencies.
By Lynne Marek • June 22, 2021 -
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Sponsored by Ubiquity3 keys to maximizing the digital banking customer journey
Customers want engaging, personalized digital service on their own schedule.
June 21, 2021 -
Courtesy of Verizon
Verizon targets Gen Z market with new digital banking app
For a $5.99 monthly fee, Family Money lets parents monitor and cap their children's spending, block certain spending categories and set up allowances.
By Anna Hrushka • June 18, 2021 -
Permission granted by Better Financial
Neobank Better Financial aims to cushion financial shocks for gig workers
The startup uses account holders' current payroll data and past payroll history to underwrite low-interest emergency loans.
By Anna Hrushka • June 17, 2021 -
Justin Sullivan via Getty Images
American Express launches business checking accounts
The card network's subsidiary, Kabbage, rolled out a soft launch of the checking account product last summer, before AmEx acquired it.
By Anna Hrushka • June 15, 2021 -
Justin Sullivan / Staff via Getty Images
National banks outpace regionals in digital satisfaction: J.D. Power study
Bank of America bested JPMorgan Chase in mobile app satisfaction among national banks. Regions Bank and Huntington Bank took the highest marks among regionals in online and mobile app satisfaction, J.D. Power found.
By Anna Hrushka • June 14, 2021 -
David Ramos via Getty Images
Sunwest Bank launches new account opening portal to boost geographic reach
The portal allows the bank to expand its services to commercial clients outside of the four states where it has a physical presence, said Dwight Flenniken, Sunwest's chief marketing officer.
By Anna Hrushka • June 10, 2021 -
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Basel suggests clamping down on crypto as State Street rolls out digital-asset unit
The panel recommended the highest possible risk weighting — 1,250% — be applied to a bank's exposure to Bitcoin and some other digital tokens.
By Dan Ennis • June 10, 2021 -
Permission granted by U.S. Bank
Why some lenders are going all-in on video banking
OceanFirst Financial plans to extend its video banking services to mobile devices, while U.S. Bank recently added video to its co-browsing service.
By Anna Hrushka • June 8, 2021 -
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Challenger bank Dave to go public through $4B SPAC deal
Victory Park Capital, the Chicago-based investment firm sponsoring the merger, provided a $100 million credit facility to Dave in January, the fintech said.
By Anna Hrushka • June 7, 2021
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