Technology: Page 9
-
Permission granted by Robinhood
Robinhood co-founder steps down
Baiju Bhatt, who co-founded the fintech 11 years ago and was most recently chief creative officer, is moving on to “focus on his next enterprise.”
By Gabrielle Saulsbery • March 25, 2024 -
Warchi via Getty Images
Banks balance cloud, cyber priorities with AI eagerness
More than two-thirds of financial firms have made meaningful progress on core modernization, according to Broadridge data.
By Matt Ashare • March 25, 2024 -
Explore the Trendline➔
da-kuk via Getty Images
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 -
da-kuk via Getty Images
Bakkt names Andy Main as new CEO in leadership shuffle
The switch comes after the New York Stock Exchange threatened to delist the crypto platform over its share price. Bakkt’s next chief executive will detail his vision for the company March 25 in an earnings call.
By Rajashree Chakravarty • March 20, 2024 -
Michael M. Santiago via Getty Images
He could get 5 years. He could get 100. For how long will Sam Bankman-Fried go to prison?
Ryan Lee O'Neill, a New Jersey-based defense attorney, has represented countless defendants in the FTX founder's place. She has her own estimates.
By Gabrielle Saulsbery • March 20, 2024 -
Permission granted by Robinhood
Robinhood goes live in the UK
The company indefinitely postponed its U.K. launch in 2020 over technical issues but rolled out a waitlist in November. It did, however, pause margin investing for U.K. users.
By Gabrielle Saulsbery • March 20, 2024 -
FTC fines fintechs Biz2Credit, Womply $59M over PPP actions
The agency claimed Biz2Credit misrepresented the timeline for application processing, and Womply had inadequate customer service in the COVID-era crunch for small-business loans.
By Dan Ennis • March 19, 2024 -
Kevin Dietsch via Getty Images
SEC busts company behind $300M crypto Ponzi scheme targeting Latinos
Under the leadership of Gary Gensler, the SEC has intensified efforts to protect investors involved in what he calls the “Wild West” of crypto assets.
By Jim Tyson • March 15, 2024 -
Michael Lawrence via Getty Images
Morgan Stanley names firmwide AI chief
Jeff McMillan, a 15-year veteran of the bank, led the creation of Morgan Stanley’s generative AI-powered chatbot last year as chief analytics and data officer.
By Gabrielle Saulsbery • March 15, 2024 -
ipopba via Getty Images
A year later: SVB’s impact on fintech
Fintechs like Mercury and MoneyLion showed their resilience, offering innovative products and assisting their customers through difficult times.
By Rajashree Chakravarty • March 13, 2024 -
Anna Hrushka/Banking Dive
FDIC vice chair wants regulators to hurry up on addressing tokenization
Tokenization could be a "major leap" for the monetary system. Travis Hill doesn't want the U.S. to be left out.
By Gabrielle Saulsbery • March 12, 2024 -
Michael M. Santiago / Staff via Getty Images
JPMorgan to launch biometric checkout next year
The bank’s payments unit plans to engage in more pilots this year before rolling out the checkout service broadly next year, said Prashant Sharma, JPMorgan’s executive director of biometrics and identity solutions.
By Caitlin Mullen • March 11, 2024 -
Permission granted by Synctera
Q&AHow banks, fintechs can navigate regulatory challenges in BaaS space
Banks have a responsibility to treat their customers fairly because they deal with people’s money, said the CEO of Synctera, a partner of Lineage Bank, which was recently hit with an FDIC consent order over BaaS.
By Rajashree Chakravarty • March 6, 2024 -
Michael M. Santiago via Getty Images
JPMorgan Chase’s Neovest buys LayerOne Financial
The deal allows Neovest’s 500-plus clients, many of them hedge funds, to monitor portfolios, conduct risk assessments and perform compliance checks, among other things.
By Gabrielle Saulsbery • March 5, 2024 -
Sean Pavone via Getty Images
Metropolitan Commercial Bank exits BaaS
“The decision to terminate these financial service partnerships will reduce the Company’s exposure to the heightened, and evolving, regulatory standards related to these activities,” the bank said in its 10-K filing last week.
By Gabrielle Saulsbery • March 4, 2024 -
Leon Neal via Getty Images
Coinbase users see $0 balance in technical glitch
“We are aware that some users may see a zero balance across their Coinbase accounts and may experience errors in buying or selling,” the crypto exchange wrote on its website. “Your assets are safe."
By Rajashree Chakravarty • Feb. 29, 2024 -
nathaphat via Getty Images
Smaller credit unions face hurdles despite NCUA’s fintech rule
The financial innovation rule may open the door to more partnerships, but larger institutions still have advantages on tech, budget and risk management, experts say.
By Ken McCarthy • Feb. 28, 2024 -
Courtesy of Green Dot
Green Dot faces Fed’s proposed consent order
The digital bank set aside $20 million to cover a potential penalty stemming from compliance risk management issues predating the company’s current management.
By Gabrielle Saulsbery • Feb. 28, 2024 -
Permission granted by Treasury Prime
Treasury Prime has laid off half its staff
The banking-as-a-service platform is shedding its fintech-bank liaison duties — and about 40 to 50 employees — to focus exclusively on providing software to banks.
By Gabrielle Saulsbery • Feb. 28, 2024 -
Dan Kitwood / Staff via Getty Images
Kraken wants SEC suit dismissed
The playbook for Kraken's motion to dismiss looks a lot like those of Binance and Coinbase.
By Gabrielle Saulsbery • Feb. 23, 2024 -
sefa ozel via Getty Images
AI could spark change in the SMB lending space: white paper
Financial institutions, including fintechs, can leverage artificial intelligence technology like machine learning to automate lending decisions, a white paper commissioned by Uplinq said.
By Rajashree Chakravarty • Feb. 21, 2024 -
Justin Sullivan via Getty Images
PayPal invests in AI startup Rasa
The investment is the first that the digital payments pioneer is making from its new artificial intelligence venture fund.
By Tatiana Walk-Morris • Feb. 20, 2024 -
Win McNamee / Staff via Getty Images
Capital One to acquire Discover in $35.3B deal
The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.
By Dan Ennis • Feb. 20, 2024 -
Permission granted by SoLo Funds
SoLo Funds nears 2M users
The peer-to-peer lending platform has faced some regulatory backlash, but a study from London's Centre for Economics and Business Research shows it's cheaper than many other subprime options.
By Gabrielle Saulsbery • Feb. 14, 2024 -
Just_Super via Getty Images
NY AG expands suit against DCG
Attorney General Letitia James initially alleged that Digital Currency Group and others defrauded investors of $1 billion. Now, after hearing from more investors, that number is up to $3 billion.
By Gabrielle Saulsbery • Feb. 12, 2024 -
Melissa Sue Gerrits via Getty Images
HSBC CEO knew of a plan to poach SVB bankers, First Citizens alleges
First Citizens filed an amended complaint in federal court Wednesday, in line with a judge's order last month to "clean up" its initial $1.2 billion lawsuit.
By Gabrielle Saulsbery • Feb. 9, 2024
Previous
