Mastercard to buy Finicity for $825M in open banking play

The Justice Department's approval of the tie-up stands in sharp contrast to the legal action it has undertaken to stop chief competitor Visa's proposed $5.3 billion acquisition of data aggregator Plaid.

By Anna Hrushka • Updated Nov. 19, 2020

Banks strive to make virtual meetings more social to counter video fatigue

"There's sometimes an underestimation of how much glue is needed for an organization to be successful, and the glue is in informal social interactions," said Eleonore van Boven, chief people officer at N26.

By Suman Bhattacharyya • June 22, 2020

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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

Eastern Bank to go public as pandemic accelerates need for tech

"The capital raised in the offering will allow us to increase our investments in new technologies to develop and implement an increasingly sophisticated array of banking and other financial services," the bank said in a filing.

By Anna Hrushka • June 22, 2020

Banking by appointment could stick as a post-COVID-19 customer habit

"Appointment setting allows you to triage customers, manage the staff levels in the branch" and decide which issues can be resolved digitally, said Jean-Pierre Lacroix, whose firm develops strategy for Regions Bank.

By Anna Hrushka • June 19, 2020

Welcome Technologies, Green Dot target Hispanic immigrants with bank account, card

Welcome is banking on the trust it says it's built to serve a community largely reluctant to use traditional financial institutions. But the company faces a twofold challenge, an analyst tells Banking Dive.

By Ken McCarthy • June 19, 2020

Former Citi executive's AI platform identifies bias in banking

Marcia Tal, a 20-year banking veteran, says her new product uses a predictive model to identify prejudice within customer and employee complaints at financial institutions.

By Anna Hrushka • June 18, 2020

Kabbage rolls out simplified PPP process for Uber drivers, contractors

At least 40% of coronavirus relief applicants through the online lender are self-employed, said the company's co-founder, Kathryn Petralia, adding that Kabbage is the fourth-largest PPP provider.

By Kate Patrick Macri • June 16, 2020

Credit Sesame acquires Canadian challenger bank Stack

Stack began working with Credit Sesame last year to develop Sesame Cash. That product, which launched in March, marked Credit Sesame's first foray into the digital banking space.

By Anna Hrushka • June 16, 2020

How Mambu plans to expand in North America's core banking market

"Because of the agility of our technology, we were able to quickly say, 'If we can do this for lending, then let's look into banking,'" said Johanna Pugh, a managing director with the company.

By Anna Hrushka • June 15, 2020

Fraud caused collapse of crypto exchange Quadriga, regulator says

About 76,000 customers claim they were left without access to $163 million since the exchange went offline last year. Their lawyers asked the Mounties to exhume founder Gerald Cotten's body to prove he was dead.

By Dan Ennis • June 12, 2020

Will COVID-19 push contactless payments into the mainstream?

Reports show contrasting figures on the adoption of touch-and-go tech, but the coronavirus — and perhaps a push from card issuers or retailers — may prove the catalyst to change consumer behavior.

By Tatiana Walk-Morris • June 11, 2020

Truist's BB&T app tops J.D. Power mobile banking satisfaction study

The award comes as the company builds an app that combines the best features from BB&T and SunTrust's legacy products, Truist's chief digital and client experience officer told Banking Dive.

By Anna Hrushka • June 10, 2020

Morgan Stanley CEO sees 'flight to quality' erasing fintechs' banking inroads

Fintech app outages demonstrate that customers deserve better, James Gorman said Tuesday, and they're going to big banks to find it. Deposits at the 25 largest U.S.-based commercial banks rose by about $1.3 trillion from February to May.

By Dan Ennis • June 10, 2020

3 in 4 bankers think AI will separate 'winners from losers,' survey finds

Nearly 60% of respondents in a Temenos survey agreed branch banking would be dead by 2025, as AI enables banks to experience customer service, safety and security benefits.

By Anna Hrushka • June 9, 2020

Regions eases customers' digital adoption to prep for post-COVID banking

Virtual seminars and chat forums are just part of a push for more widespread app and mobile use, as the bank uses the pandemic to accelerate technological literacy.

By Suman Bhattacharyya • June 8, 2020

How digital bank Current builds products for essential workers

The coronavirus pandemic "has really cleared up who is providing value and who is not," CEO Stuart Sopp told Banking Dive.

By Anna Hrushka • June 4, 2020

Capital One ordered to disclose third-party analysis of 2019 breach

The bank argued a business agreement with cybersecurity firm Mandiant, which performed a post-mortem investigation of the breach, made the report a protected legal document.

By Samantha Schwartz • June 1, 2020

Brex lays off 62 employees amid 'restructuring'

"Three months in, it's clear that the impact of COVID-19 won't be short-lived," Brex's co-founders wrote in a blog post. "We know that the pace of growth won't be what we expected for the foreseeable future."

By Anna Hrushka • June 1, 2020

Goldman takes a swipe at crypto, but maybe they're better off apart

As its cash management business booms, the investment bank calls bitcoin's volatility "unsuitable" for its clients. Meanwhile, the crypto exchange Gemini finds a suitor in Samsung.

By Dan Ennis • May 28, 2020

Why BFS Capital chose to sit out PPP

Concerns about back-end liquidity and sudden changes to the SBA's loan program pushed the company to focus on a pivot to incorporate real-time changes to lending criteria.

By Hillary Richard • May 26, 2020

Shopify to launch banking services this year for merchants

The Canadian e-commerce company is also rolling out Shop Pay Installments, a buy-now, pay-later option at checkout that will let customers split purchases into four equal payments over time.

By Tatiana Walk-Morris • May 22, 2020

Plaid Exchange aims to level the API playing field for banks

"The last thing we would want is a future where the digital options for customers of Wall Street banks are different from the digital options of the customers of Main Street banks," said John Pitts, Plaid's head of policy.

By Anna Hrushka • May 19, 2020

Remitly partners with Cross River Bank to speed up cross-border payments

As the coronavirus limits access to brick-and-mortar locations across the globe, the digital remittance company's CEO says the deal gives its customers more choices to send money internationally.

By Anna Hrushka • May 14, 2020

Telegram scraps crypto project amid court battle with SEC

The encrypted messaging app has agreed to pay $18.5 million and return $1.2 billion to investors as part of a settlement with the Securities and Exchange Commission.

By Dan Ennis • Updated June 30, 2020

JPMorgan extends banking services to crypto exchanges Coinbase, Gemini

The nation's largest bank continues to warm up to crypto technology, despite CEO Jamie Dimon's historic position as an outspoken bitcoin detractor.

By Dan Ennis • May 12, 2020