Technology


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    Crypto execs push for tailored regulation, but not a rush to judgment

    At stake, they said in a Wednesday hearing on Capitol Hill, is the U.S.'s leadership in the field.

    By Dec. 8, 2021
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    Dan Kitwood via Getty Images

    The decentralization in DeFi just an illusion, BIS says

    DeFi is ripe for regulation before the ecosystem becomes more popular, the Basel, Switzerland-based organization says in its quarterly report.

    By Dec. 7, 2021
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    Trendline

    Fintech disruption in the banking industry

    There are as many schools of thought on how to disrupt the banking space as there are disruptors.

    By Banking Dive staff
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    Chip Somodevilla via Getty Images

    New York Fed, BIS partner on fintech research center

    The innovation hub is meant to support the U.S. central bank's analysis of digital currencies, including CBDCs, and to help make cross-border payments faster and less expensive, Fed Chair Jerome Powell said.

    By Dec. 3, 2021
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    Quotable Quarles: 5 takeaways from the Fed governor's farewell speech

    The outgoing central bank official suggested a change to big banks' stress-testing framework, warned against stifling digital-asset innovation and cautioned the misuse of Fed emergency funds.

    By Dec. 3, 2021
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    How Stash helps its customers navigate emerging wealth tools

    "One of the biggest learnings for us ... was making sure that we give context to the information that we're asking for and why," said Claudio Esposito, the fintech's senior vice president of product.

    By Suman Bhattacharyya • Dec. 3, 2021
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    Diem co-creator Marcus to leave Facebook parent Meta by end of year

    In a series of tweets and Facebook posts Tuesday, David Marcus said he is leaving to pursue other projects. Stephane Kasriel, vice president of product at Novi, will take over his role leading the stalled crypto effort.

    By Dec. 1, 2021
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    Mizuho group CEO resigns amid spate of IT woes

    Tatsufumi Sakai is at least the third executive at the Japanese financial firm to step down in connection with issues that prompted a regulator and the country's ministry of finance to issue orders seeking improvement.

    By Nov. 29, 2021
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    UK fintech Thought Machine surpasses $1B valuation

    The company raised $200 million in its most recent funding round, which it said will provide capital for the continued development of its SaaS product Vault, already in use by JPMorgan Chase.

    By Nov. 29, 2021
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    Senate banking panel chair seeks stablecoin issuer feedback

    The complexity of stablecoins makes it difficult for investors and consumers to fully understand their potential risks, Sen. Sherrod Brown, D-OH, said in letters to eight issuers and exchanges, including Coinbase and Tether.

    By Nov. 29, 2021
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    Fintechs Blueacorn, Womply added to House panel's PPP probe

    A subcommittee focused on COVID-19's impact seeks documents and information on the companies' fraud prevention measures. The panel made similar requests of Kabbage, BlueVine and others in May.

    By Nov. 24, 2021
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    Bank regulators to roll out crypto guidance in 2022

    A two-page report doesn't provide many details regarding how banks should navigate digital assets, but regulators said the industry should expect further guidance throughout the next year.

    By Nov. 23, 2021
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    Citi names crypto team chief, looks to hire 100 more in digital asset effort

    Puneet Singhvi will become the head of digital assets for Citi's institutional clients group Dec. 1, according to an internal memo.

    By Nov. 23, 2021
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    Deep Dive

    Banks, fintechs navigate market's appetite for crypto amid pending regulatory guidance

    From Bitcoin rewards to custody services for digital assets, banks and fintechs are carving out strategies and services tied to crypto as regulators seek to catch up with guidance.

    By Nov. 22, 2021
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    Sponsored by Backbase

    Re-architect banking around the customer

    Backbase delivers complete, end-to-end solution with the help of Microsoft.

    Nov. 22, 2021
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    Fed's Waller warns against bank-only stablecoins

    "While regulations are necessary, they also limit free entry into at least some of the markets in which banks operate," Waller said. "As a result, regulatory oversight can insulate banks from some forms of direct competition."

    By Nov. 18, 2021
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    N26

    German challenger bank N26 to shutter US operations

    Accounts for the fintech's 500,000 U.S. customers will be closed Jan. 11. The company is aiming to expand into more countries in eastern Europe and still plans to launch services in Brazil.

    By Nov. 18, 2021
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    U.S. Bank to buy travel and expense management fintech TravelBank

    After a yearlong partnership, the Minneapolis lender opted to buy the fintech outright, in a deal reportedly worth $200 million.

    By Nov. 17, 2021
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    Ripple puts SEC on losing end in crypto regulation proposal

    The company on Tuesday said the existing framework can be adapted to fit crypto and touted legislation that would de-emphasize the SEC's role in favor of the CFTC.

    By Nov. 17, 2021
  • LMI lender Oportun to buy digital bank Digit in $213M cash-equity deal

    The deal will result in Digit and Oportun having access to a combined 1.4 million members, to whom both entities plan to cross-sell their products.

    By Nov. 16, 2021
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    Connecticut bank, fintech merge with an eye toward digital national bank

    Stamford-based Patriot National Bank will pay $119 million to buy American Challenger Development Corp., a company that had been pursuing a de novo charter, in a deal announced Monday.

    By Nov. 15, 2021
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    BM Technologies to buy Seattle community bank to 'accelerate earnings power'

    The $23 million deal, set to close in the second half of 2022, will allow BM Technologies to supplement fee-based income with net interest income, CEO Luvleen Sidhu said.

    By Nov. 15, 2021
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    Banks outpace other industries in cyber investments, defense strategies: report

    "Still, we view the banking sector as high risk in terms of cybersecurity, because of how attractive it is as a target for many different types of attackers," said Lesley Ritter, a vice president and senior analyst at Moody's.

    By David Jones • Nov. 15, 2021
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    Crypto creeps into the checkout line

    Payments firms are betting on crypto's growth as an asset class to fuel crypto adoption at checkout.

    By Suman Bhattacharyya • Nov. 10, 2021
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    How neobanks are cashing in on the Gen Z market

    While parents' banking habits influence their children, researchers found, the difference in those habits is getting progressively wider.

    By Nov. 10, 2021
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    Hiring tech talent a 'major priority' for Chase, CIO says

    As competition heats up in the hiring space, some large banks are leveraging flexibility in the form of hybrid work schedules and larger salaries.

    By Nov. 8, 2021