Neobank Arc looks to fill SVB gap with venture debt platform

Arc Technologies CEO and co-founder Don Muir likened Arc Capital Markets to Uber Black, describing the platform as a dedicated concierge service that meticulously vets its lenders.

By Anna Hrushka • Jan. 17, 2024

Varo rolls out free tax prep and filing tool with Column Tax

All Varo Bank customers can access the tax filing service, which uses pre-filled data based on user information and helps to file taxes in less than 15 minutes, the lender said.

By Rajashree Chakravarty • Jan. 17, 2024

Explore the Trendline➔

Top 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

Visa picks fintech startups for accelerator

A debt repayment app startup and a small business lender are among the U.S. startups selected by the card network and its partner this year.

By Tatiana Walk-Morris • Jan. 17, 2024

Fiserv seeks special-purpose bank charter

The designation would allow the payment processor to own transactions from end-to-end, removing the need for a bank partner.

By Caitlin Mullen • Jan. 12, 2024

X plans payments launch for this year

“I would be surprised if it takes longer than the middle of [2024] to roll out payments,” X owner Elon Musk said during a conversation last month with Ark Invest CEO Cathie Wood.

By James Pothen • Jan. 10, 2024

FTC slaps $3M penalty on fintech FloatMe

The federal agency alleged the cash advance app company charged users without consent and misled consumers on eligibility requirements.

By Rajashree Chakravarty • Jan. 10, 2024

Revolut hit with biometric ID class action in Illinois

Several tech companies have been hit with lawsuits under Illinois' Biometric Information Privacy Act in recent years.

By Gabrielle Saulsbery • Jan. 10, 2024

Remitly taps ads to woo new clients

The cross-border payments company has boosted marketing to build up its remittance clientele.

By Lynne Marek • Jan. 10, 2024

5 banking trends to watch in 2024

Banking observers will watch this month’s earnings for clues as to whether 2023’s crisis can return. The capital-requirements debate and a CFPB-focused Supreme Court case also warrant attention.

By Gabrielle Saulsbery , Rajashree Chakravarty , Anna Hrushka , Dan Ennis • Jan. 9, 2024

Bank groups flag concerns with CFPB’s open banking proposal

The Bank Policy Institute and The Clearing House want the consumer watchdog to take a tougher stance on screen scraping, and allow banks to charge fees to cover the cost of enabling data sharing.

By Anna Hrushka • Jan. 3, 2024

Biden vetoes lawmakers’ efforts to roll back CFPB data collection rule

“If enacted, this resolution would harm all those that stand to benefit from expanded transparency and accountability,” the president said Tuesday.

By Rajashree Chakravarty • Dec. 21, 2023

Fintechs have opportunity to grow, leverage partnerships with banks in 2024

With high interest rates still floating in the market, fintechs can drive profitability through technology and partner with banks to curb costs and fuel growth, experts say.

By Rajashree Chakravarty • Dec. 20, 2023

Neobank Bunq rolls out customer-facing gen AI tool

The new tool, called Finn, replaces the search function on Bunq’s app, allowing consumers to plan their finances, budget, navigate the platform and find transactions.

By Anna Hrushka • Dec. 20, 2023

Visa leans on fintech partners

Teaming with emerging fintechs is “a way of staying very, very relevant,” said Jim Schinella, Visa’s global head of digital partnerships.

By Caitlin Mullen • Dec. 20, 2023

Don’t know what a digital wallet is? We’ve got you covered.

This primer fills in the gaps on how digital wallets work, what companies compete to provide such payment tools and what to expect from them in the future.

By James Pothen • Dec. 20, 2023

Neobank Dave’s new chatbot achieves 89% resolution rate, CEO says

The neobank and personal finance app this month launched DaveGPT, a gen AI-driven chatbot that can respond to customer inquiries in real-time.

By Anna Hrushka • Dec. 13, 2023

Payitoff teams up with fintechs to lower student loan payments

The debt guidance platform provides borrowers access to federal repayment plans as student loan payments resume after over three years.

By Rajashree Chakravarty • Dec. 13, 2023

Sen. Warren draws more support for crypto crackdown bill

The bill, which would extend Bank Secrecy Act requirements to crypto players, has five new co-sponsors, days after Warren found a rare moment of common ground with JPMorgan CEO Jamie Dimon.

By Gabrielle Saulsbery • Dec. 12, 2023

Fintech Bridge expands borrower network with Chipotle deal

The Citi spinout aims to help the restaurant chain’s suppliers scale and grow their businesses by linking them to the more than 75 lenders that use Bridge’s platform.

By Anna Hrushka • Dec. 8, 2023

Cross River bolsters Best Egg relationship with $150M credit facility

The funds will support Best Egg's Flexible Rent product, which allows renters to break up their rent into smaller chunks aligned with their cashflow.

By Gabrielle Saulsbery • Dec. 6, 2023

CFPB’s MoneyLion suit paused for Supreme Court funding ruling

MoneyLion, which is being sued by the CFPB over claims it violated the Military Lending Act, was granted its request for a pause ahead of the Supreme Court’s ruling on the CFPB’s funding structure.

By Anna Hrushka • Dec. 6, 2023

UK fintech Banked builds a US presence

The company expects its pay-by-bank services for bank clients will eventually lure retailers.

By Lynne Marek • Dec. 4, 2023

Greenwood adds retail investing, eyes profitable 2024

The Atlanta-based neobank on Thursday launched Greenwood Invest, an app that allows customers to invest in stocks and exchange-traded funds.

By Anna Hrushka • Nov. 30, 2023

First Fed Bank hit with FDIC consent order over fintech joint venture

The order is the latest enforcement action to come down on a bank as regulators continue to step up scrutiny of fintech partnerships.

By Anna Hrushka • Nov. 29, 2023

Fintech consumer lending down in 2023: NY Fed report

Fintechs saw the highest number of loan originations per quarter since 2017 in 2022, with an average of 1.9 million loans originating in each quarter. But the number retracted to 1.14 million in 2023. 

By Rajashree Chakravarty • Nov. 29, 2023