Fintech: Page 25

The latest fintech news for banking professionals.

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    Rakuten withdraws bid for NCUA charter

    The Japanese e-commerce firm previously tried three times to gain a charter via an industrial loan company application, only to withdraw each bid months later.

    By • Sept. 19, 2023
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    Brex adds more AI to CFOs’ expense management arsenal

    Brex is one of many software vendors that are racing to bet on AI following the swift rise of ChatGPT, created by Microsoft-backed OpenAI.

    By Alexei Alexis • Sept. 19, 2023
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    Trendline

    Artificial intelligence

    Banks’ focus on AI has shifted from a “cool-toys” mentality to one that sees the technology as a foundational pillar underlying finance and society itself.

    By Banking Dive staff
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    Courtesy of Square
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    Square CEO to depart

    Alyssa Henry, CEO of Block’s merchant business Square, will leave the company Oct. 2, handing over the post to co-founder Jack Dorsey.

    By • Sept. 18, 2023
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    Citi sells SMB loan platform to Foro

    As part of the deal, Citi becomes a minority shareholder in Charlotte, North Carolina-based Foro, which counts former Bank of America CEO Hugh McColl Jr. as one of its founding investors.

    By • Sept. 13, 2023
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    Alex Wong via Getty Images
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    Connecticut fintech launches small-business credit card

    Owners Bank, a fintech born out of 201-year-old Liberty Bank, is looking to solve funding challenges facing small businesses.

    By • Sept. 13, 2023
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    Stax CEO zeroes in on embedded payments

    Stax is honing its strategy to build on embedded payments as the company pushes its payment facilitation offering, CEO Paulette Rowe said.

    By • Sept. 12, 2023
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    5 takeaways from Michael Barr’s views on CBDCs, stablecoins and more

    The Federal Reserve’s vice chair for supervision spoke about “responsible innovation” Friday at a Philadelphia Fed fintech conference.

    By Suman Bhattacharyya • Sept. 11, 2023
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    Deep Dive

    Goldman’s strategy retreat leaves GreenSky in limbo

    The installment-lending fintech, which Goldman is looking to sell, faces an uncertain future as the investment bank distances itself from an ambitious retail strategy.

    By • Sept. 7, 2023
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    JPMorgan Chase revs up payments lab hiring

    The bank is venturing further into fintech and payments for new product development at its lab in Greece.

    By Tatiana Walk-Morris • Sept. 7, 2023
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    Finotta uses gamification to increase banks’ user engagement

    The embedded fintech says its personalized financial guidance platform has helped boost user engagement on banks’ mobile apps.

    By Rajashree Chakravarty • Sept. 6, 2023
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    Growth in fintech sector spurs specialty college programs

    Worcester Polytechnic Institute launched both a fintech undergraduate and graduate degree program last week. The prestigious technology school is far from the first.

    By • Sept. 6, 2023
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    Upgrade sets sights on auto loans as legacy banks pull back

    The neobank is venturing into a sector many traditional firms have been exiting amid mounting concerns about credit quality.

    By • Sept. 1, 2023
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    Q&A

    ‘We’re in the 1999 of the internet era’: a16z’s Julie Yoo on fintech’s potential

    Yoo, who leads health tech investment at venture-capital firm Andreessen Horowitz, outlined her fintech investment thesis and why the healthcare industry is at an inflection point for adoption.

    By Rebecca Pifer Parduhn • Aug. 31, 2023
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    CFO Editorial Staff
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    Column

    Goldman, regional bank warnings show the Fed is now playing offense

    The central bank has requested action from Citizens, Fifth Third and M&T regarding capital, liquidity, technology and compliance, according to Bloomberg. Goldman’s fintech partnerships are reportedly under scrutiny, too.

    By • Aug. 31, 2023
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    Q&A

    Bluevine plans IPO while sticking to small business lending

    The fintech, which hit 80% year-over-year revenue growth, is planning to go public within 18 to 24 months, Bluevine CEO Eyal Lifshitz said.

    By Rajashree Chakravarty • Aug. 30, 2023
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    Courtesy of C6 Bank
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    JPMorgan boosts its stake in Brazilian neobank C6 to 46%

    C6 has seen its client base grow from 8 million to 25 million since June 2021, when JPMorgan bought its initial slice. C6’s credit portfolio has more than quadrupled in that time, the neobank said.

    By • Aug. 30, 2023
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    Stash appoints Dave veteran as CTO, eyeing new growth phase

    Chien-Liang Chou spent nearly three years at Dave, overseeing the fintech’s effort to go public in 2022 as the team tripled.

    By Suman Bhattacharyya • Aug. 30, 2023
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    Elavon, Ingenico team on new payments tool

    U.S. Bank’s payments software unit is locking arms with the French hardware-maker to take on a raft of competitors targeting small businesses.

    By Lynne Marek • Aug. 30, 2023
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    AI fintech Stampli opens Austin office

    The California company extended its presence to a third U.S. city and aims to expand its employee headcount by 40%.

    By James Pothen • Aug. 29, 2023
  • Stock Trading Platform Robinhood Goes Public On The New York Stock Exchange
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    Massachusetts’ top court rules against Robinhood

    The Supreme Judiciary Court’s 5-0 ruling upholds the state’s fiduciary rule, holding broker-dealers like Robinhood to fiduciary duties of care and loyalty, similar to investment advisers.

    By • Aug. 28, 2023
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    PayNearMe strikes partnership with Dollar General

    The deal increases PayNearMe's retailer footprint by one-third, bringing the ability to pay bills in cash to millions more Americans.

    By • Aug. 23, 2023
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    CFPB sues Curo Group subsidiary over consumer loan practices

    The fintech lender’s subsidiary, Heights Finance, reaped hundreds of millions of dollars in loan costs and fees through “illegal loan-churning practices," the agency said.

    By Rajashree Chakravarty • Aug. 23, 2023
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    Pinwheel partners with Plaid for direct deposit switching services

    Pinwheel said San Francisco-based Plaid would refer its customers requiring direct deposit switching to the New York-based startup.

    By Rajashree Chakravarty • Aug. 18, 2023
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    Jack Henry & Associates trims workforce

    The bank payment and technology services provider has offered an early retirement program that it expects to pare 160 employees.

    By Lynne Marek • Aug. 17, 2023
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    Rightfoot raises $15M to help banks convert customers

    Banks experience a 40% dropoff when they require customers to share bank account information online, according to Rightfoot, provider of no-login, consumer permissioned financial data product Connect Magic.

    By • Aug. 16, 2023