Fintech


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    Viva Wallet CEO sues JPMorgan, claiming bank is limiting growth

    Haris Karonis alleges JPMorgan, which owns 48.5% of Viva, is seizing on "perverse incentives" that allow the bank to take full control of the fintech if its value falls below €5 billion next year.

    By Feb. 15, 2024
  • Plaid names Cloudflare vet as its first president ahead of ‘eventual’ IPO

    The fintech's hiring of Jen Taylor, Cloudflare's ex-chief product officer, comes months after Plaid appointed its first CFO and named another executive as head of Europe.

    By Feb. 14, 2024
  • Trendline

    Customer service

    Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.

    By Banking Dive staff
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    Anna Hrushka/Banking Dive
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    Q&A

    Adyen eyes growth in North America

    Davi Strazza, North America president at Adyen, pointed to the Dutch processor’s single technology platform as setting it apart in a crowded field of payments players.

    By Caitlin Mullen • Feb. 14, 2024
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    Citi moves deeper into e-commerce through digital couponing

    The bank recently launched a browser extension that searches for coupons on merchant checkout pages, suggests applicable codes and can activate cash-back offers.

    By Feb. 12, 2024
  • Bunq CEO Ali Niknam stands in front of Bunq's logo.
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    Courtesy of https://press.bunq.com/media_kits/228411/
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    Dutch neobank Bunq withdraws application for US banking charter

    Bunq is the latest in a line of European neobanks to back out of pursuing a U.S. banking charter, though it stated plans to reapply, American Banker reported. 

    By Feb. 8, 2024
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    Aeropay partners with Cross River, UBank on gaming payouts

    A record 67.8 million people are expected to place bets on this year’s Super Bowl, the American Gaming Association said Tuesday. Aeropay aims to get winnings paid out as fast as possible.

    By Feb. 7, 2024
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    MoneyLion, EY partner to co-build ‘turnkey’ solutions for banks

    The partnership will help to drive deposits for mid-sized banks and help diversify their existing revenue streams by implementing comprehensive digital marketplaces inside their ecosystems.

    By Feb. 7, 2024
  • Officials and employees celebrate the grand opening of Fiserv's Berkeley Heights, New Jersey office on Nov. 15.
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    Fiserv CEO details special bank charter pursuit

    The processing and acquiring company, which seeks a “very specific” special bank charter, doesn’t intend to compete with its financial institution partners, Fiserv CEO Frank Bisignano said Tuesday.

    By Caitlin Mullen • Feb. 7, 2024
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    Courtesy of Peterbilt
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    Fleet fintech ditches Visa for Mastercard

    Fuel card startup AtoB, with $112 million in financial backing, plans to take on dominant fleet service rivals Wex and Fleetcor.

    By Lynne Marek • Feb. 6, 2024
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    Anna Hrushka/Banking Dive
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    Republican lawmakers raise concerns over FDITech

    “[D]uring your tenure, the FDIC has moved innovation backwards,” the GOP lawmakers noted in the letter to the Federal Deposit Insurance Corp. Chair Martin Gruenberg. 

    By Feb. 5, 2024
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    Just_Super via Getty Images
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    Genesis Global settles SEC suit for $21M

    The settlement will, among other things, "eliminate the risks, expenses, and uncertainty associated with protracted litigation against the SEC."

    By Feb. 2, 2024
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    David Ryder via Getty Images
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    SellersFi, Amazon team up to offer up to $10M in credit lines

    The SellersFi credit lines are offered through Citi, which, with asset manager Fasanara Capital, led a $300 million credit facility for the company.

    By Jan. 31, 2024
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    Plenty aims to help couples build wealth together

    Emily Luk and Channing Allen fell in love while working together at a fintech startup. Now, they want to help other couples manage and grow their money.

    By Jan. 31, 2024
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    hapabapa via Getty Images
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    Nasdaq to cut jobs to streamline operations: report

    The second-largest U.S. stock exchange is planning to cut its workforce as it integrates software provider Adenza into its business to improve efficiency, Bloomberg reported.

    By Jan. 31, 2024
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    ultramarine5 via Getty Images
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    The banking industry outlook on 2024: The year of wait-and-see

    A capital requirements proposal, fintech regulation and the CFPB itself hang in the balance as opinions (from the public and a court) and an ever-ticking clock loom large.

    By Jan. 30, 2024
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    fotostorm via Getty Images
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    One in four companies ban GenAI

    The research by Cisco found that generative artificial intelligence tools are putting many companies’ sensitive data at increased risk of public exposure.

    By Alexei Alexis • Jan. 30, 2024
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    ‘Troubled’ Blue Ridge Bank enters consent order with OCC

    The OCC alleged that Blue Ridge’s BSA/AML program experienced ‘systemic internal controls breakdowns’, among other issues, in its second regulatory action against the bank in 18 months.

    By Jan. 29, 2024
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    Creative via Getty Images
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    Carlyle expands its reach on student loans as banks back out

    The private-equity firm bought a $415 million portfolio, reportedly from Truist, and invested in student loan specialist Monogram.

    By Jan. 25, 2024
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    Novo rolls out an embedded payroll tool for small businesses

    Powered by Check, the new tool, Novo Payroll, aims to help small businesses manage their finances from a single platform.

    By Jan. 24, 2024
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    ModernFi raises $18.7M in Series A

    “Faced with fundamental shifts in the behavior of deposits, institutions benefit from modern tools to manage and grow their funding,” said Paolo Bertolotti, ModernFi CEO, who cofounded the fintech with a Columbia University chum.

    By Jan. 24, 2024
  • Brex CEO Pedro Franceschi pictured against a grey background.
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    Courtesy of Brex
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    Brex cuts workforce by 20% in profitability push

    The company’s chief tech officer, who is transitioning to an advisory role, shared on LinkedIn a spreadsheet of employees impacted by the job cuts. Nearly 175 opted in, and 71 had “software engineer” in their title.

    By James Pothen • Jan. 24, 2024
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    Caitlin Mullen/Banking Dive
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    Klarna adds subscription plan

    With an IPO on the horizon, the BNPL firm is offering customers a subscription service for $7.99 per month.

    By Caitlin Mullen • Jan. 24, 2024
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    Figure eyes SEC approval for interest-bearing stablecoin

    The company’s token would be redeemable at 1 cent per certificate, rather than $1, and interest would accrue daily and be paid monthly to the user, according to paperwork filed with the agency.

    By Jan. 23, 2024
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    BaaS to require strong commitment, investment in 2024, experts say

    While demand for embedded banking services will continue to propel the BaaS space, experts say regulatory scrutiny will likely separate committed banks from those with a casual interest in the model.

    By Jan. 22, 2024
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    Neobank Arc looks to fill SVB gap with venture debt platform

    Arc Technologies CEO and co-founder Don Muir likened Arc Capital Markets to Uber Black, describing the platform as a dedicated concierge service that meticulously vets its lenders.

    By Jan. 17, 2024