• Small wooden box swag from Fed with FedNow logo.
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    Lynne Marek/Banking Dive

    ‘Faster has value’: FedNow attracts early adopters

    Companies partnering with the Federal Reserve to test the real-time payments system see it as a way to draw customers and get an edge on rivals.

    By Lynne Marek • March 23, 2023
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    NicoElNino via Getty Images

    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
  • Trendline

    Fraud and AML in banking

    Crypto platforms, Zelle and COVID-era government relief programs continue to serve as flashpoints in the discussion around fraud. Fortunately, it appears banks are listening to concerns.

    By Banking Dive staff
  • Small wooden box swag from Fed with FedNow logo.
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    Lynne Marek/Banking Dive

    Fed targets July launch for real-time payments service

    The central bank aims to begin certifying FedNow participants next month, it said in a Wednesday release.

    By Lynne Marek • March 16, 2023
  • An SVB sign stands outside the bank's headquarters.
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    Justin Sullivan via Getty Images

    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
  • Federal Reserve building in Washington, D.C.
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    Chip Somodevilla via Getty Images

    FedNow may draw in low-income users

    The real-time payments system due later this year could have particular appeal to unbanked and underbanked Americans, Fed researchers say.

    By Lynne Marek • March 9, 2023
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    pcess609 via Getty Images

    Banking technology provider Amount cuts 25% of staff

    The Chicago-based fintech, which was valued at $1 billion in 2021, has initiated its second round of layoffs in less than a year.

    By March 6, 2023
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    Michele Pevide via Getty Images

    Behind Synchrony’s decision to join Project Black

    The private-label card issuer decided it needed to do more to support entrepreneurs of color and women business owners, so it teamed up with Ariel Alternatives.

    By Tatiana Walk-Morris • March 6, 2023
  • Federal Reserve building in Washington, D.C.
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    Chip Somodevilla via Getty Images

    Senators urge Fed, OCC, FDIC and NCUA to keep close eye on Zelle

    Five Democrats blasted the platform for its use of murky language, such as “authorized” transactions, in fraud-related reimbursements of customers.

    By March 3, 2023
  • cryptocurrency graphic
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    Dan Kitwood via Getty Images

    Partners drop Silvergate amid delays, financial review

    Coinbase, Paxos and others reconsider their relationship with the crypto-heavy bank after it delays filing its 10-K document as an audit wraps up.

    By March 2, 2023
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    Brendan Hoffman via Getty Images

    Credit union trade group preemptively blasts Durbin bill

    NAFCU said a bill to curb the processing of credit card transactions would reduce credit union members’ revenue from swipe fees and limit loyalty programs, fraud protection and free checking.

    By Lynne Marek • Feb. 27, 2023
  • Remitly's digital bank Passbook targets immigrants.
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    Permission granted by Remitly

    Remitly to shutter digital banking platform Passbook

    The Seattle-based remittance fintech launched Passbook in 2020. The product, however, hasn’t garnered significant overlap with existing customers, Remitly CEO Matt Oppenheimer said.

    By Feb. 27, 2023
  • Green Dot GO2bank
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    Courtesy of Green Dot

    Green Dot juggles customer changes

    The banking-as-a-service company posted profits in the final quarter of last year even as it recovered from the loss of clients.

    By Lynne Marek • Feb. 24, 2023
  • The Federal Reserve building is seen January 22, 2008 in Washington, DC.
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    Chip Somodevilla via Getty Images

    FedNow aims to avoid Zelle-type fraud

    As the Federal Reserve prepares for a midyear launch of its instant payments system, it’s zeroing in on anti-fraud tools to protect users.

    By Lynne Marek • Feb. 23, 2023
  • The photo shows cannabis plants growing in a greenhouse.
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    Drew Angerer via Getty Images

    Cannabis banking fintech Dama Financial taps new CEO

    Patrick O'Boyle will be responsible for overseeing Dama Financial's strategic direction, growth initiatives and the launch of new products, the firm said.

    By Feb. 22, 2023
  • A$AP Rocky and Klarna team up for global campaign
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    Courtesy of Klarna

    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
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    jacoblund via Getty Images

    Retailers oppose banks seeking more time on debit routing rule

    Banks requested a delay in implementing a debit routing rule, but a retail and merchant trade group argued it’s high time the card issuers comply.

    By Lynne Marek • Feb. 15, 2023
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    hqrloveq via Getty Images

    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
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    ferrantraite via Getty Images

    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
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    Just_Super via Getty Images

    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
  • APIs
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    Permission granted by Pixabay

    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 Feb. 1, 2023
  • PPP, EIDL borrowers with ‘questionable’ Social Security numbers got $5.4B: panel

    The SBA disbursed loans to 69,323 applicants with SSNs that either didn’t exist or didn’t match name or birth date information, the Pandemic Response Accountability Committee found.

    By Jan. 31, 2023
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    Permission granted by Varo Bank

    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 Jan. 31, 2023
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    Dan Kitwood / Staff via Getty Images
    Deep Dive

    The crypto world is sending mixed signals

    Nearly 2,000 crypto workers have been laid off in 2023, but the value of Bitcoin climbed enough in January for Goldman Sachs to take note.

    By Jan. 27, 2023
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    Permission granted by Grupo Coppel

    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 Jan. 25, 2023
  • A plastic-gloved hand gives a $100 bill to another hand.
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    Mario Tama via Getty Images

    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