Bunq CEO: US regulators ‘tough but fair’ amid license wait

“At Bunq we’d rather do things right than rush things,” said Ali Niknam, who founded the Dutch fintech in 2012. “And the only way for us to be able to do that is by having our own bank.”

By Anna Hrushka • Aug. 2, 2023

Laurentian Bank seems to have missed first deadline to find buyer

Both TD and Scotiabank last week backed out as potential buyers of Canada's ninth-largest bank, according to The Globe and Mail.

By Gabrielle Saulsbery • Aug. 1, 2023

Explore the Trendline➔

The Banking Dive Outlook on 2022

Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.

By Banking Dive staff

Dream First acquires Heartland Tri-State in Kansas bank failure

Heartland "became insolvent due to an isolated event," the state regulator said. Dream First adds four branches, around $139 million in assets and $130 million in deposits.

By Rajashree Chakravarty • July 31, 2023

How banks could fit into Elon Musk’s plans for an ‘everything app’

The billionaire’s intent to bring the social media platform into the banking and payments landscape presents both opportunities and risks for traditional banks, experts said.

By Anna Hrushka • July 31, 2023

[Podcast] Igniting organic growth and driving customer value in banking

This podcast explains how leading banks utilize data to enhance customer understanding and drive organic growth. Discover valuable insights from EY Global's research on consumer preferences and learn from the strategies of Bank of America and Citizens Financial Group.

By Banking Dive's studioID • July 31, 2023

Citi says its predecessors likely benefited from slavery

The conclusion came in an independent review the bank agreed to as part of its 2020 racial equity pledge.

By Rajashree Chakravarty • July 28, 2023

Upgrade acquires BNPL firm Uplift for $100M

The deal, Upgrade’s first acquisition, more than doubles the neobank’s customer base by adding 3.3 million users to its existing 2.5 million, CEO Renaud Laplanche said.

By Anna Hrushka • July 27, 2023

NatWest CEO Alison Rose steps down

The move comes less than a day after Rose admitted a “serious error of judgment” in discussing the closure of politician-turned-pundit Nigel Farage’s account with a journalist.

By Rajashree Chakravarty • July 26, 2023

Greenwood, Gathering Spot settle business dispute

“No one wins when the family feuds,” executives for Greenwood and The Gathering Spot said in a joint statement. “We apologize for distracting our communities over the last week as this became a topic of so much public discussion.”

By Anna Hrushka • July 26, 2023

Banc of California agrees to buy PacWest

The deal includes a $400 million investment from Warburg Pincus and Centerbridge Partners, and gives the private-equity firms a 19% stake in the combined company.

By Dan Ennis • July 26, 2023

Citi acquires Deutsche Bank’s Mexico license

The deal will help Citi separate its institutional and private business in Mexico from its consumer, small-business and middle-market operations ahead of a planned IPO for Banamex in 2025.

By Rajashree Chakravarty • July 25, 2023

Gathering Spot founders sue neobank Greenwood

T’Keel Petersen and Ryan Wilson, who co-founded the club for Black professionals in 2016, claim the neobank owes them and other TGS shareholders roughly $5 million in earn-out payments.

By Anna Hrushka • July 24, 2023

FTX sues Bankman-Fried, former execs for more than $1B

The company accused its former CEO and three ex-executives of misappropriating funds to buy luxury condominiums and make speculative investments and political contributions.

By Gabrielle Saulsbery • July 21, 2023

Capital One bets on tech engine for card, retail banking growth

“Our modern technology capabilities are generating an expanding set of opportunities across our business,” CEO Richard Fairbank said Thursday.

By Matt Ashare • July 21, 2023

Blue Ridge Bank holding company’s CEO resigns

The president of the bank’s fintech division, Kirsten Muetzel, also is leaving the bank this month, according to her LinkedIn profile.

By Anna Hrushka • July 20, 2023

Goldman takes nearly $1B in impairments as profit falls 60%

The bank took losses tied to commercial real estate and GreenSky, reporting its lowest three-month net income in three years.

By Gabrielle Saulsbery • July 19, 2023

Apple debuts recurring payments

The tech giant, now valued at $3 trillion, is continuing to expand its financial offerings after debuting a buy now, pay later feature and a savings account earlier this year.

By James Pothen • July 14, 2023

Jenius Bank debuts personal loan product

The launch of a consumer loan product is “phase 1” of Jenius’ strategy to grab a chunk of the U.S. digital banking market, CEO John Rosenfeld said.

By Anna Hrushka • July 13, 2023

UK neobank Monzo eyeing Lunar acquisition: reports

The reported merger talks come as rising interest rates and a drop in venture funding have created a difficult environment for fintechs and neobanks.

By Anna Hrushka • July 12, 2023

Fintechs, digital banks make gains in battle for checking accounts

Digital banks and fintechs made up nearly half (47%) of all new checking accounts opened so far in 2023, up from 36% in 2020, according to a survey by Cornerstone Advisors. 

By Anna Hrushka • July 12, 2023

Twitter snags money transfer license in Arizona

That’s the fourth state in which the social media company has received a license, inching it closer to creating the payments tool and super-app envisioned by owner Elon Musk.

By James Pothen • July 12, 2023

Bank of America fined $250M over fake accounts, junk fees

In charges that echo Wells Fargo’s 2016 fake-accounts scandal, regulators accused Bank of America employees of opening credit card accounts without customers’ consent to reach sales goals.

By Anna Hrushka • July 11, 2023

Frost Bank aims to double its Austin presence by 2026

The San Antonio-based bank, which counts an 8.2% share of the market's deposits, wants to open 17 financial centers and create 170 jobs over the next three years.

By Rajashree Chakravarty • July 7, 2023

SoLo Funds to bring peer-to-peer lending platform to Nigeria

Nigeria’s growing fintech sector made the region an attractive entry point to the continent, SoLo Funds founder Rodney Williams said.

By Anna Hrushka • July 5, 2023

BNP Paribas deal signals end to Orange’s challenger bank status

The telecom company has taken more than €800 million in losses on its banking efforts since 2017, Bloomberg reported. Its CEO floated a strategy to invest more in cybersecurity and grow its core business in Africa.

By Dan Ennis • June 29, 2023