Cross River exec named CEO of American Fintech Council

Phil Goldfeder will head the group at a pivotal time for fintech, as nonbank entities are coming under increased scrutiny from regulators and lawmakers, ranging from their involvement in the PPP to their partnerships with banks.

By Anna Hrushka • Feb. 22, 2023

Klarna touts US as largest market

The Swedish buy now, pay later provider aims to keep growing in the U.S. with new services despite the intense competition.

By Lynne Marek • Feb. 22, 2023

Explore the Trendline➔

Artificial intelligence

The heavily regulated banking sector rarely gets to trailblaze. But with AI, an all-in mentality is fueling both research and adoption.

By Banking Dive staff

The evolution of BaaS: Minimizing risk and increasing value

Is BaaS dead or alive, or catching its breath?

Feb. 21, 2023

Latino-first neobank Comun raises $4.5M in seed funding

The challenger bank offers traditional financial services, including access to a checking account connected to a physical and virtual debit card, direct deposits for payroll and 24/7 support.

By Rajashree Chakravarty • Feb. 15, 2023

Pinwheel pushes for payroll data inclusion in open banking rule

“How could you possibly argue that how much you make isn’t your data?” Pinwheel CEO Kurtis Lin said. “From where we sit, it feels like a no-brainer.”

By Anna Hrushka • Feb. 15, 2023

Payments firms gear up for new ISO standard

The Clearing House and other payments players, including Swift, are readying for the March rollout of an international payments standard.

By Lynne Marek • Feb. 15, 2023

Back to the future with Worldpay

FIS CEO Stephanie Ferris and her Worldpay sidekick Charles Drucker, reclaiming a role at the business, will be under pressure to avoid “dis-synergies.”

By Lynne Marek • Feb. 14, 2023

Key merger metric doesn’t account for online banking, nonbanks: OCC

The Herfindahl-Hirschman Index, which measures a bank’s market presence based on deposit share, is becoming a less effective predictor of competition across product lines, the agency’s chief counsel said.

By Anna Hrushka • Feb. 13, 2023

Quontic, NYDIG vet aims to bridge ‘translation layer’ between banks, fintechs

Patrick Sells, a former chief innovation officer, wants to speed up the time it takes for banks to find a fintech whose services match their needs.

By Anna Hrushka • Feb. 8, 2023

Former NYSE CIO launches an app to make you feel good about your finances

He called Fierce “kind of like the Ted Lasso of finance.”

By Gabrielle Saulsbery • Feb. 8, 2023

Stash’s CEO takes the helm as fintech matures from hyper-growth

New chief Liza Landsman said the company is exploring paths toward acquisition, private financing or an initial public offering, backing off earlier reports that suggested a stronger focus on IPO.

By Suman Bhattacharyya • Feb. 7, 2023

Bank mobile app use reaches 87%: Chase survey

Card replacement and peer-to-peer payment access rank among features with the greatest uptick in use, the bank’s research found.

By Gabrielle Saulsbery • Feb. 6, 2023

Stripe CFO exits to handle ‘family matters’

Dhivya Suryadevara is exiting the payments software provider on the brink of a potential IPO and deal with Amazon.

By Elizabeth Flood • Feb. 3, 2023

Small banks, fintechs ask CFPB for more time to phase out screen scraping

A CFPB proposal aims to eliminate screen scraping by requiring banks to establish APIs, standardized software widely regarded as a more secure way to connect consumers’ accounts to financial apps.

By Anna Hrushka • Feb. 1, 2023

Fintech Upstart lays off 20% of staff

The alternative lender also plans to suspend the development of its small-business loan product "until macroeconomic conditions improve," it said in a filing with the SEC.

By Rajashree Chakravarty • Feb. 1, 2023

BM Technologies to cut 25% of staff

BM Technologies’ effort to reduce expenses follows the dissolution of the fintech’s planned acquisition of First Sound Bank, a $23 million deal the two parties called off in December.

By Anna Hrushka • Jan. 31, 2023

Varo slows burn rate, shifts marketing strategy

The bank cut its marketing budget and shifted its focus from maximizing user numbers to growing the segment that uses Varo as its primary bank.

By Anna Hrushka • Jan. 31, 2023

Former BofA CEO-backed fintech launches to match SMBs with lenders

“What we want to do is to put people that want to lend money together with people who need money. It's not complicated,” said ex-Bank of America CEO Hugh McColl Jr., a founding investor in Foro.

By Anna Hrushka • Jan. 25, 2023

Mexico’s largest department store now offers banking services to Mexican Americans

Customers can use their government-issued Mexican ID to set up a Coppel Access account, which provides access to a digital and physical debit card and convenient remittance services.

By Gabrielle Saulsbery • Jan. 25, 2023

Paymentus to accept payments via Green Dot Network

Paymentus is tapping Green Dot’s network to extend the number of locations where it accepts cash bill payments from consumers.

By Tatiana Walk-Morris • Jan. 23, 2023

Webster Bank CIO tapped to become Payoneer’s next CFO

Bea Ordonez joined the company last week, with the expectation that she would succeed Payoneer CFO Michael Levine, who is stepping down in March.

By Grace Noto • Jan. 19, 2023

nCino cuts 7% of workforce, CFO departs

The Wilmington, N.C.-based fintech’s cuts are part of a bid to shift from a “pure growth company to a best-in-case profitable growth company,” CEO Pierre Naudé wrote in a letter to employees. 

By Grace Noto • Jan. 19, 2023

Fintech wreckage spells opportunity for bargain-hunting banks

Following a challenging year for the fintech sector, enterprising banks may be able to acquire startups whose previous valuations put them out of reach in prior years, said Klaros Group’s Jonah Crane.

By Anna Hrushka • Jan. 18, 2023

Grasshopper, Ramp partner on small-business corporate card

The New York City-based digital bank will offer its customers access to Ramp’s spend management tool to help maximize savings and cut expenditures.

By Rajashree Chakravarty • Jan. 18, 2023

LendingClub to cut 225 employees

The fintech, which has a bank charter from its 2020 acquisition of Radius Bank, noted “reduced marketplace revenue” in the wake of last year’s series of interest rate increases by the Federal Reserve.

By Dan Ennis • Jan. 17, 2023