Trust in banks remains steady, while fintechs have ground to cover: survey

The percentage of U.S. adults who say they trust banks and credit unions has held steady even in the wake of the collapse of Silicon Valley Bank and other regional lenders.

By Anna Hrushka • Nov. 2, 2023

Funding Circle gets long-awaited shot at SBA lending

Funding Circle joins Arkansas Capital Corp. and Alaska Growth Capital BIDCO as the first nondepository institutions to be granted new Small Business Lending Company licenses in 40 years.

By Anna Hrushka • Nov. 1, 2023

Explore the Trendline➔

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

What makes a neobank? A primer can explain.

Read on to learn more about the birth of neobanks, an apt moniker, and what makes a neobank apply for a charter to become a traditional bank. 

By Rajashree Chakravarty • Nov. 1, 2023

Charlie, a neobank for retirees, raises fresh capital to fight fraud

After closing a $23 million Series A round, the fintech plans to launch a set of anti-fraud tools designed specifically for the 62+ population.

By Anna Hrushka • Oct. 31, 2023

What bank, fintech execs are saying about AI

Ahead of the Biden administration’s landmark executive order unveiled on Monday, banks and fintech executives discussed AI use cases and implications at Money20/20 last week.

By Anna Hrushka , Gabrielle Saulsbery • Oct. 30, 2023

A look at Week 4 of the Sam Bankman-Fried trial

Bankman-Fried admitted that FTX didn't turn out how he expected: "A lot of people got hurt," he said. But he said he didn't defraud anyone.

By Gabrielle Saulsbery • Oct. 27, 2023

Court pauses CFPB small-biz data collection rule nationwide

An earlier limited injunction “leaves non-exempted lenders subject to the discretion of an agency whose very ability to act is a matter of constitutional concern,” a Texas federal judge wrote Thursday.

By Dan Ennis • Oct. 27, 2023

Straddling the CFO, COO divide: Brex

As C-suite responsibilities change, the gap between roles such as the CFO and chief operating officer is narrowing.  

By Grace Noto • Oct. 26, 2023

U.S. Bank claims spot in the BNPL space

The launch of the point-of-sale option Avvance comes as nearly one in five consumers surveyed by the New York Fed say they've used buy now, pay later loans within the past year.

By Gabrielle Saulsbery • Oct. 26, 2023

Payments infrastructure fintech Finzly raises $10M Series A

CEO Booshan Rengachari built Finzly out of inspiration he found from watching banks struggle with the inefficiencies of old technology.

By Gabrielle Saulsbery • Oct. 25, 2023

Plaid taps Riskified to back risk protection for ACH payments

Riskified, a fintech focused on fraud, uses AI to judge the riskiness of transactions. A new partnership with Plaid brings that technology to ACH payments on online marketplaces and trading platforms.

By Gabrielle Saulsbery • Oct. 25, 2023

Cross River CEO predicts ‘bonanza’ for fintech, BaaS banks in 2024

While elevated interest rates continue to hammer traditional firms, banking-as-a-service remains a strong business model for tech-savvy firms who have fostered partnerships with fintechs, Gilles Gade said at Money20/20.

By Anna Hrushka • Oct. 25, 2023

PayPal taps Fiserv as ‘core’ payments partner

Fiserv CEO Frank Bisignano said Tuesday that his company is now PayPal’s “core U.S. partner for payment services.”

By Caitlin Mullen • Oct. 25, 2023

OCC applying ‘supply chain mindset’ to bank-fintech scrutiny: Hsu

Arrangements where multiple parties play a role in delivering financial products to consumers are more complicated, and will likely garner more scrutiny from the OCC, Acting Comptroller Michael Hsu said.

By Anna Hrushka • Oct. 24, 2023

Crypto legislation would put US ‘back in the game,’ stakeholders say

A pair of House bills would help the industry gain clarity, scale digital asset products and promote financial inclusion, cryptocurrency stakeholders said Sunday on a panel at Money20/20.

By Anna Hrushka • Oct. 23, 2023

CFPB unveils open banking proposal

The rule will make it easier for consumers to share deposit account and credit card data with fintechs, the CFPB said. Future rulemaking may also include mortgage, auto loan and student loan data, the bureau said.

By Anna Hrushka • Oct. 19, 2023

Plaid names first CFO amid potential run-up to public listing

The move comes as the 10-year-old fintech is reportedly considering going public after its failed agreement to be acquired by Visa.

By Alexei Alexis • Oct. 18, 2023

Trovata partners with JPMorgan to simplify treasury management

The bank’s corporate customers can instantly analyze balances across all accounts, rather than visiting dozens of banking sites to get an idea of a business’ available cash on hand, Trovata’s CEO said.

By Rajashree Chakravarty • Oct. 18, 2023

Can JPMorgan Chase fill the startup banking void?

The New York City-based firm added close to 200 bankers to its division that serves startups and VC-backed businesses this year as it looks to fill a space vacated by Silicon Valley Bank.

By Anna Hrushka • Oct. 17, 2023

Stax scoops up paytech firm

Payments technology provider Stax has purchased a processing services provider in its first acquisition since CEO Paulette Rowe took over in August.

By James Pothen • Oct. 17, 2023

LendingClub to cut 172 jobs

The round of cuts, LendingClub’s second this year, is expected to save the firm as much as $35 million in compensation and benefits annually as it navigates macroeconomic headwinds, the company said.

By Anna Hrushka • Oct. 13, 2023

Goldman to sell GreenSky to Sixth Street-led group

The deal, which marks the latest step in Goldman’s retreat from the mass market, will result in a hit of 19 cents per share to the firm’s third-quarter earnings.

By Anna Hrushka • Oct. 12, 2023

Bluevine’s Israel employees work from home amid war

More than 20 Bluevine employees have been called to reserve duty following Saturday’s deadly attack by Palestinian Islamist group Hamas.

By Anna Hrushka • Oct. 12, 2023

Regulators ramp up pressure on BaaS banks

Firms that work with fintechs are coming under more scrutiny as examiners look to recalibrate their supervision of banks that operate banking-as-a-service programs, Klaros Group’s Konrad Alt said.

By Anna Hrushka • Oct. 11, 2023

SpringFour helps banks link customers to financial aid

The social impact fintech points customers in need of financial assistance to nonprofit and government resources to help them get back on their feet.

By Rajashree Chakravarty • Oct. 11, 2023