OCC to audit JPMorgan’s dealmaking: sources

The audit was scheduled before JPMorgan sued the founder of Frank, a fintech it bought. The Justice Department charged the fintech exec with fraud, a development that has raised questions around due diligence.

By Dan Ennis • April 7, 2023

Current’s ex-head of talent sues neobank in alleged discrimination

Isabelle Mitura, a tech recruiter, alleges Current’s head of people demeaned her in front of colleagues on multiple occasions, referring to her as "an old Asian woman with no kids.”

By Anna Hrushka • April 7, 2023

Explore the 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

Neobank Aspiration to cut more than 180 jobs

The layoffs, part of a companywide restructuring, span multiple departments at the climate-conscious neobank and include the firm’s chief of staff and chief administrative officer.

By Anna Hrushka • April 6, 2023

Acorns targets next generation of customers in GoHenry deal

A longer-term investing horizon, coupled with calls for increasing financial literacy among teens, make the youth market an attractive target for the investing fintech.

By Anna Hrushka • April 5, 2023

Treasury Prime launches instant cross-bank transfer product

The fintech says the platform offers a seamless movement of money within a network of more than 15 financial institutions using a single API.

By Rajashree Chakravarty • April 5, 2023

Cash App founder stabbed dead, police say

No arrests have been made in the Tuesday morning death of Bob Lee, the chief product officer at crypto firm MobileCoin, police said.

By Gabrielle Saulsbery • April 5, 2023

Dutch neobank Bunq applies for US bank license

Bunq CEO Ali Niknam said the neobank is expanding to the U.S. to serve European expatriates “with strong ties to both sides of the Atlantic.”

By Anna Hrushka • April 4, 2023

EWS readies Paze to help banks take on digital wallet market

Even with the backing of the nation’s largest banks, the platform, set for a June launch, will face adoption and security hurdles, industry experts say.

By Anna Hrushka • April 3, 2023

SavvyMoney helps consumers bolster credit scores, banks bolster loan portfolio

The integrated credit solution has 1,055 banking partners, and that number "grows daily," its CEO said.

By Gabrielle Saulsbery • March 29, 2023

BM Technologies taps Raymond James vet as co-CEO

The fintech appointed Raj Singh, previously an adviser to the company, to strengthen its management team and position itself for the “next phase of growth,” BM Technologies said Monday.

By Rajashree Chakravarty • March 29, 2023

Greenlight’s new B2B offering brings kid-focused banking to traditional firms

Over half a dozen firms, including Morgan Stanley, WaFd Bank and Community Financial Credit Union have partnered with the neobank to offer its services to their customers.

By Anna Hrushka • March 29, 2023

FDIC orders neobank Utoppia to stop making claims of deposit insurance

As of January, the fintech’s website claimed Utoppia was “insured by the FDIC,” according to the regulator. The FDIC also said Utoppia’s CFO made false claims of deposit insurance on LinkedIn.

By Anna Hrushka • March 28, 2023

JPMorgan to buy investment analytics fintech Aumni

The bank did not disclose the value of the deal, set to close by June. But Aumni was worth $232 million after its latest funding round in 2021, according to Pitchbook.

By Anna Hrushka • March 23, 2023

Bank failures could cause SMB credit crunch

“The current banking crisis could directly lead to a small business crisis if they are not able to quickly access the capital they need to sustain and expand their operations,” Biz2Credit’s CEO said.

By Anna Hrushka • March 22, 2023

Mercury moves to close the gap created by SVB collapse

The startup-focused neobank raised its FDIC insurance and launched new features for VCs to meet the growing demand from former Silicon Valley Bank customers, CEO Immad Akhund said.

By Rajashree Chakravarty • March 22, 2023

Apto Payments, Sardine team on anti-fraud tools

Apto Payments and Sardine are joining forces to offer commercial customers issuing cards better anti-fraud tools.

By Tatiana Walk-Morris • March 22, 2023

With tech’s favorite banks in turmoil, some are choosing loyalty

After a week of several high-profile bank failures and near-failures, some fintechs don’t see jumping ship as an option.

By Gabrielle Saulsbery • March 17, 2023

A look at SVB’s new CEO, Tim Mayopoulos

The former Fannie Mae CEO on Tuesday urged clients who left SVB in the past week to return. The FDIC allegedly has targeted Mayopoulos since 2017 as someone who could steer a seized bank.

By Anna Hrushka • March 16, 2023

How fintech founders navigated the SVB collapse

While many have moved their funds to other banks, some are staying put for now.

By Gabrielle Saulsbery • March 15, 2023

Fintechs offer expanded FDIC insurance in wake of SVB failure

“It is abundantly clear that $250K FDIC insurance is not enough for startups,” Immad Akhund, CEO of neobank Mercury, said after Silicon Valley Bank’s collapse.

By Rajashree Chakravarty • March 15, 2023

‘Meme stock in reverse’: SVB collapse portends new era of viral bank runs

Silicon Valley Bank’s demise gave the banking sector a glimpse into how social media and digital banking can turn a financial institution from operational to insolvent in a matter of hours.

By Anna Hrushka • March 15, 2023

Anchorage Digital cuts 20% of staff

“The need for better crypto infrastructure is growing ever clearer,” the company told Bloomberg amid a seven-day span that has seen the closure of three banks heavily invested in the crypto sector.

By Dan Ennis • March 15, 2023

Payments players caught in SVB fallout

As the banking crisis spread, payments players, such as FIS, and venture-backed firms, including Payoneer, were caught in the contagion.

By Lynne Marek , Caitlin Mullen • March 13, 2023

Regulators take over Silicon Valley Bank

The California Department of Financial Protection and Innovation closed the embattled bank and appointed the FDIC as receiver, regulators said Friday.

By Anna Hrushka • March 10, 2023

Grasshopper Bank leans on fintech partners to weather economic downturn

“We understand partnerships. And the one thing that I tell people is, once you refer to one of your fintech partners as a vendor, then you're in a bad place,” CEO Mike Butler said.

By Rajashree Chakravarty • March 8, 2023