Fintech: Page 2
The latest fintech news for banking professionals.
-
Caitlin Mullen/Banking Dive, data courtesy of Industry Dive employee Caitlin Mullen
Klarna’s IPO prospects grab spotlight
The BNPL provider’s CEO has suggested the company could IPO “quite soon,” but fintech investors expect the market will first want to see a stronger track record of profitability.
By Caitlin Mullen • March 13, 2024 -
Permission granted by Stripe
Stripe reports payments volume increase
The digital payments company processed $1 trillion in total payments volume last year, according to its annual letter released Wednesday.
By James Pothen • March 13, 2024 -
Explore the Trendline➔
Courtesy of The Howard Hughes Corp.
TrendlineTop 5 stories from Banking Dive
Banks brace to see if commercial real estate exposure will trigger a rerun of last year’s crisis. And regulators face a mountain of comments from the most contentious proposed rule in decades.
By Banking Dive staff -
Permission granted by Starling Bank
Starling taps HSBC alum as next CEO
The digital bank's founder, Anne Boden, said she believes Raman Bhatia can move Starling “into its next phase of growth while cherishing the culture and values” her team had worked hard to create.
By Gabrielle Saulsbery • March 13, 2024 -
Permission granted by Ansa
Ansa cuts fees for merchants with white-labeled wallets
With an Ansa wallet, a merchant “doesn’t have to maintain ... what is at its core really tricky and regulated payments infrastructure,” co-founder Sophia Goldberg said.
By Gabrielle Saulsbery • March 6, 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 -
Chor muang via Getty Images
i2c pursues bank clients abroad
The issuing-processing fintech sees a bigger opportunity in regions outside the U.S. to sell its core banking services, founder and CEO Amir Wain said.
By Caitlin Mullen • March 6, 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 -
Permission granted by Cross River Bank
Cross River draws Morgan Stanley, SVB vets to lead investment banking launch
Henry Pinnell and Benjamin Samuels will team up to lead an effort that includes advising clients on mergers and acquisitions, capital markets transactions and other corporate finance matters, the bank said.
By Dan Ennis • March 4, 2024 -
Dan Kitwood/Getty Images News via Getty Images
Gemini to return more than $1.1B to Earn customers
The crypto exchange and New York's Department of Financial Services reached an agreement Wednesday that included a $37 million penalty for compliance failures.
By Gabrielle Saulsbery • Feb. 29, 2024 -
Anna Hrushka/Banking Dive
Tennessee bank hit with FDIC consent order over BaaS business
Under the consent order, Lineage Bank must implement an enhanced risk management program overseen by its board of directors, increase capital levels, and let go of some fintech partners.
By Rajashree Chakravarty • Feb. 28, 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 -
Chime to pay California regulator $2.5M over customer service flaws
The agency investigated accuracy and responsiveness to customer complaints. The consent order offered few details but the time frame aligns with COVID-era account closures.
By Dan Ennis • Feb. 28, 2024 -
sefa ozel via Getty Images
AI could spark change in the SMB lending space
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 -
Permission granted by Neon Money Club
Neon Money Club launches dating app for those with good credit
Score, which is only available for those with a score of 675 or better, highlights the importance of discussing finances in relationships — even in new ones.
By Gabrielle Saulsbery • Feb. 21, 2024 -
Chip Somodevilla via Getty Images
Cross-border payments remain focus for Fed
Tools that “automate processes, reduce costs and promote effective safeguards across jurisdictions” may help improve cross-border payments, a Federal Reserve official said last week.
By Lynne Marek • Feb. 20, 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 -
Chris Hondros via Getty Images
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 Gabrielle Saulsbery • 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 Dan Ennis • Feb. 14, 2024 -
Anna Hrushka/Banking Dive
Q&AAdyen 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 -
Mario Tama via Getty Images
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 Suman Bhattacharyya • Feb. 12, 2024 -
Courtesy of https://press.bunq.com/media_kits/228411/
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 Rajashree Chakravarty • Feb. 8, 2024 -
Permission granted by Aeropay
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 Gabrielle Saulsbery • Feb. 7, 2024 -
Permission granted by MoneyLion and EY
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 Rajashree Chakravarty • Feb. 7, 2024
Previous
