Fintech


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    Female CMOs are building some of fintech’s fastest growing brands

    They're "rapidly expanding financial services by...creating brands that deeply resonate with their customers,” said Jennifer Tramontana, founder of fintech-focused marketing firm The Fletcher Group.

    By Dec. 7, 2022
  • Plaid cuts 260 employees

    The 20% downsizing comes on the heels of moves by neobank Chime to slash 12% of its workforce and Morgan Stanley's effort, announced Tuesday, to trim headcount by 1,600.

    By Dec. 7, 2022
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    Newtek gets OCC green light to acquire NBNYC

    The approval comes 16 months after Newtek proposed to reposition itself as a bank holding company. The acquisition should strengthen Newtek’s foothold as the third-largest lender in the SBA’s 7(a) program.

    By Dec. 6, 2022
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    Circle’s $9B SPAC deal falls apart

    The stablecoin issuer and the blank-check company that had hoped to take it public terminated their agreement over the wait for SEC approval, they said.

    By Dec. 6, 2022
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    Apiture’s new tool helps banks drive customer engagement

    Data Engage allows financial firms to deliver tailored messages such as pop-ups, sales and marketing notices, tutorials and guides to customers through their digital banking platform.

    By Dec. 6, 2022
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    10 top reads from Banking Dive

    If you're new, welcome. Here's a chance to catch up on some of our best work.

    By Dec. 4, 2022
  • Panel blasts fintechs for missing ‘obvious and preventable’ PPP fraud

    Womply and Blueacorn’s lack of fraud controls made them the “paths of least resistance” for fraudsters, a House subcommittee said Thursday. Another fintech included in the report blamed the SBA’s “sh***y rules.”

    By Dec. 2, 2022
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    FTX ex-CEO says he ‘unknowingly commingled funds’

    In his first public appearance since his former company's collapse, Sam Bankman-Fried said he doesn’t think he has criminal liability, but what happens with him is “not the important part.”

    By Dec. 1, 2022
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    Kraken cuts workforce by 1,100 people

    Thousands of crypto jobs have vanished in 2022 as a result of the ongoing crypto winter, and the Kraken team is back to the size it was a year ago.

    By Nov. 30, 2022
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    Novo grows customizable small-business banking platform, eyes lending

    The fintech, which raised $35 million from GGV Capital last week, announced a new partnership Wednesday with LegalZoom to provide entity formation services to Novo customers.

    By Nov. 30, 2022
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    BlockFi sues Bankman-Fried’s holding company

    The lawsuit, to recover shares in Robinhood, came the same day BlockFi filed for Chapter 11 bankruptcy protection, in part because of its exposure to FTX, which Bankman-Fried founded.

    By Nov. 29, 2022
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    Can the SBA make its 7(a) loan program attractive to fintechs?

    A new proposal could pave the way for nonbanks to grab a share of the small-business agency’s 7(a) lending program, but not everyone is convinced the program is suited for fintechs.

    By Nov. 29, 2022
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    BlockFi files for bankruptcy amid FTX contagion

    The crypto lender has initiated a cost-cutting plan that involves “major layoffs,” according to Decrypt. Monday’s announcement follows earlier rumors that the company had been mulling bankruptcy.

    By Nov. 28, 2022
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    State regulators probe Genesis for securities violations

    Regulators are investigating whether the company influenced residents to invest in crypto securities through its platform without having the right registrations, an Alabama official said.

    By Nov. 28, 2022
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    PayPal counts on its digital app for gains

    The digital payments pioneer is scouting for new ways to increase customer use of its digital wallet, including plans to add a new Venmo teen account.

    By Lynne Marek • Nov. 28, 2022
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    Regulatory challenges more prominent in eyes of fintech industry leaders this year

    Private firms are adopting a more defensive posture, delaying new funding rounds, planning for modest growth and addressing regulatory risks, according to a report.

    By Nov. 23, 2022
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    Q&A

    Payitoff CEO, spouse became ‘walking testimonial’ for student debt management

    “If I'm in a bank, I would want to learn everything I could from these fintechs, whether it's partnering with them, buying them ... because everything's on discount,” CEO Bobby Matson said.

    By Nov. 23, 2022
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    JPMorgan’s crypto wallet trademark is approved

    The green light comes more than two years after the bank submitted paperwork to the U.S. Patent and Trademark Office, and runs counter to CEO Jamie Dimon’s opinion on virtual currencies.

    By Nov. 22, 2022
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    Neobank GloriFi shuts down following turbulent launch

    The Dallas-based fintech attributed the shutdown to “startup mistakes, reputation attacks, the declining economy, and multiple negative media stories.”  

    By Nov. 22, 2022
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    BM Technologies’ acquisition of Seattle community bank pushed to 2023

    The deal would, over time, create a $2 billion-plus institution, and regulators want more details on the infrastructure that would support that growth, CEO Luvleen Sidhu said.

    By Nov. 21, 2022
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    Column

    Can Congress come together on crypto?

    Perhaps even a divided Congress can make bipartisan headway in crafting a regulatory framework for crypto following FTX’s failure.

    By Lynne Marek • Nov. 18, 2022
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    LGBTQ+-focused Daylight to offer family planning subscription service

    The service, set to launch early next year, will feature family planning concierges, a family-building marketplace with vetted attorney networks, IVF and surrogacy clinics, and loan access, the company said.

    By Nov. 18, 2022
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    Treasury calls for more fintech oversight

    Fintechs are re-bundling core banking services outside the bank regulatory perimeter and contributing to competitive pressure in the banking industry, the Treasury Department said in a 122-page report.

    By Nov. 16, 2022
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    Climate First Bancorp acquires ESG data fintech Ecountabl

    Ecountabl founders Andy Burr and Justin Bretting now serve as chief growth officer and chief technology officer, respectively, at Climate First’s OneEthos digital banking fintech.

    By Nov. 16, 2022
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    Regulators defend their caution on crypto in Senate panel hearing

    Some GOP lawmakers blasted a dearth of guidance from the OCC, Fed and FDIC, and one suggested it's up to Congress to establish the rules.

    By Nov. 16, 2022