Fintech: Page 2
The latest fintech news for banking professionals.
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Permission granted by Aeropay
Aeropay targets pay-by-bank evolution in US
The Chicago fintech has moved from servicing small merchants to handling cannabis payments, and now it’s catering to gaming clients.
By Lynne Marek • Aug. 27, 2024 -
Thicha Satapitanon via Getty Images
Sponsored by Giesecke+Devrient (G+D)The power of issuance-as-a-service in the phygital era
Discover how Issuance-as-a-Service is revolutionizing the card issuance process, enabling banks to seamlessly integrate physical and digital services.
By Mehdi Heidari is the head of product management digital issuance at Giesecke + Devrient (G+D). For more information, please visit www.gi-de.com/en/. • Aug. 26, 2024 -
Explore the Trendline➔
hynci via Getty Images
TrendlineCompliance in banking
A trio of fintech execs share their thoughts on partnerships with banks. This collection also explores the most pressing issues faced by three banks — TD, Capital One and Citi — heavily invested in compliance.
By Banking Dive staff -
heyengel via Getty Images
Lettuce Financial gets $15M in fresh funding
The tax and accounting fintech has had a busy year announcing two funding rounds, launching a major product and inking several partnerships to serve the solopreneur community.
By Gabrielle Saulsbery • Aug. 21, 2024 -
Permission granted by Money 20/20
Q&AMarqeta CEO says his platform is no ‘single-trick pony’
Simon Khalaf cites the need for banks to change their behavior to focus on customer service. He also says upcoming underwriting tech could put the banking sector “on steroids.”
By Rajashree Chakravarty • Aug. 21, 2024 -
Courtesy of Revolut Press Kit
Revolut valued at $45B
The British fintech has completed a secondary share sale with new and existing investors to provide liquidity to employees.
By Gabrielle Saulsbery • Aug. 16, 2024 -
Courtesy of Klarna
Klarna jumps into banking business
The Swedish buy now, pay later company will let consumers use savings accounts to make payments, receive refunds and earn cash rewards from some retailers.
By Lynne Marek • Aug. 15, 2024 -
Win McNamee via Getty Images
Fintechs ramp up lobbying over earned wage access, crypto, AI
Chime, PayPal and Block, for example, spent more on lobbying in the first half of 2024 than for the same span last year, OpenSecrets reported.
By Suman Bhattacharyya • Aug. 14, 2024 -
alfexe via Getty Images
Tally sunsets over failure to raise capital
After nine years of operation, "we have made the difficult and sad decision to shut down Tally,” due to lack of funds, founder and CEO Jason Brown said in a LinkedIn post Monday.
By Rajashree Chakravarty • Aug. 14, 2024 -
Drew Angerer via Getty Images
How embedded payments are changing the way we pay
As payments technology advances, more companies are embedding the payments process in websites and apps. Here’s a primer on how this trend is advancing and changing the payments arena.
By Patrick Cooley • Aug. 14, 2024 -
Lynne Marek/Banking Dive
FedNow to add more fraud tools, Fed official says
The Federal Reserve is still seeking to allay financial institutions' concerns that faster payments allowed by the new instant payments system could lead to faster fraud.
By Lynne Marek • Aug. 12, 2024 -
Courtesy of Funding Circle UK
TrackerA running list of fintech layoffs in 2024
Thousands of fintech employees have been let go since the start of the year. Many firms cited cost cuts.
Aug. 9, 2024 -
Leon Neal / Staff via Getty Images
FTX to pay $12.7B to fraud victims
An order by a New York judge resolves a lawsuit filed by the Commodity Futures Trading Commission in late 2022 and permanently bans FTX from trading digital assets.
By Gabrielle Saulsbery • Aug. 9, 2024 -
Chip Somodevilla via Getty Images
Ripple to pay $125M penalty in XRP case against SEC
The fine was not nearly the $2 billion the SEC sought. The judge in the case, though, issued an injunction requiring Ripple to register if it intends to sell securities in the future.
By Dan Ennis • Aug. 8, 2024 -
Courtesy of Totem
Totem, a Native American-focused fintech, shuts down
In a LinkedIn post, Totem’s CEO didn’t provide details on what led to the startup’s demise, but suggested investors wanted to see progress more quickly from the fintech.
By Caitlin Mullen • Aug. 7, 2024 -
Permission granted by Cross River Bank
Cross River names 3 new board members to bolster growth
The board additions come more than a year after the FDIC issued a consent order over Cross River's “unsafe and unsound” practices related to fair lending laws and regulations.
By Rajashree Chakravarty • Aug. 7, 2024 -
Lynne Marek/Banking Dive
Outdated tech could slow instant payment adoption: survey
Financial institutions expect business clients to be a driver of instant payment revenue, but adopting the technology comes with hurdles, the results of a recent survey showed.
By Tatiana Walk-Morris • Aug. 2, 2024 -
Courtesy of Fifth Third
Fifth Third’s Newline to expand Stripe’s embedded financial services
“Maybe we’re just a little too Midwest humble about it, but Newline isn’t new to this,” Newline GM Tom Bianco said. Working with Stripe, he said, reinforces that it is, and has been, “a real force.”
By Gabrielle Saulsbery • July 31, 2024 -
Kevin Dietsch / Staff via Getty Images
Did regulators send warning shot at already roiled BaaS space?
It’s clear the Synapse debacle was on regulators’ minds when they issued last week’s statement highlighting risks associated with banks’ third-party partnerships, analysts said.
By Caitlin Mullen • July 31, 2024 -
Permission granted by Victoria Reynolds
Q&A5 questions for Brex’s new compliance chief
When it comes to innovation, “if it's moving too quickly for customer protection to keep pace, it’s not happening,” said Sibongile Ngako, who recently joined the fintech as chief compliance officer.
By Caitlin Mullen • July 31, 2024 -
Matt Winkelmeyer via Getty Images
Stripe buys software rival Lemon Squeezy
The San Francisco payments giant bought the 4-year-old Salt Lake City startup as it continues its global expansion.
By Patrick Cooley • July 30, 2024 -
I going to make a greatest artwork as I can, by my head, my hand and by my mind. via Getty Images
Affirm says CFPB’s proposed BNPL rules will confuse customers
In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.
By Patrick Cooley • July 29, 2024 -
Permission granted by Clair
Q&AClair CEO backs CFPB rule proposal on EWA
Nico Simko supports the Consumer Financial Protection Bureau’s recent rule proposal, and it may be a competitive advantage for him.
By Lynne Marek • July 29, 2024 -
Permission granted by Revolut
Revolut gets UK banking license
Unreliable revenue figures and a complicated share structure likely contributed to the fintech’s three-year wait. But Revolut’s numbers came in robust and on time this year.
By Dan Ennis • July 25, 2024 -
Permission granted by Jiko
Fed cites digital bank Jiko over capital planning woes
The central bank is requiring the startup, which bought a bank in 2020, to submit a liquidity risk management plan with steps to diversify its funding sources and enhanced stress test scenarios.
By Dan Ennis • July 24, 2024 -
Courtesy of Revolut Press Kit
Revolut faces more fraud claims than other UK banks: report
A spokesperson said the fintech investigates each fraud claim independently of other cases, and that it takes such claims “incredibly seriously.”
By Gabrielle Saulsbery • July 24, 2024
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