• A young woman customer placing her order at a fast food convenience restaurant.
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    Nashville bank execs launch Sonata to serve fast-food industry

    Dan Dellinger and Farzin Ferdowsi, with their third venture, aim to solve turnover and banking access issues in the quick-service space, and add telehealth and financial literacy to help franchisees retain talent.

    By Aug. 12, 2022
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    BM Technologies’ Luvleen Sidhu bets on BaaS, bank charter

    “For those that can combine the charter with the technology, that is the most competitive way to play in the banking-as-a-service space,” said Luvleen Sidhu, BM Technologies’ chair, CEO and founder.

    By Aug. 10, 2022
  • Trendline

    Fraud and AML in banking

    ESG is the latest silo to face fraud-related scrutiny from regulators. Meanwhile, the SEC is staffing up its cyber unit to fight a potential uptick in crypto fraud.

    By Banking Dive staff
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    USAA sues Truist in patent case over mobile deposit tech

    The U.S. District Court for the Eastern District of Texas has awarded USAA three nine-figure judgments since 2019 (against Wells Fargo and PNC) in patent cases.

    By Aug. 4, 2022
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    FDIC advisory reinforces boundaries of bank-crypto ties

    The note emphasizing risks comes a day after the regulator issued a cease-and-desist order giving bankrupt platform Voyager Digital two business days to remove any misleading claims regarding deposit insurance.

    By Aug. 1, 2022
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    Software is changing payments and banks should care

    In the future, all payments will begin and end in software. To remain a part of clients’ financial lives, banks need to play well with software.

    Aug. 1, 2022
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    Sponsored by Grain

    Fraudsters are out to get the digital banking industry: How fintechs can significantly mitigate risk

    By implementing strategies surrounding prevention and detection, the overall damage and negative impact of fraud can be significantly decreased – and both customer and stakeholder trust can be regained and supported.

    By Carl Memnon, Co-founder and COO of Grain Technology • Aug. 1, 2022
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    Crypto ‘citizen’s arrests’ may continue until Congress wrangles ‘Wild West’

    The SEC, DOJ and Treasury are all patrolling the digital asset space. The CFTC is calling for unity. And lawmakers’ vision for a cohesive strategy just took a summer vacation.

    By July 28, 2022
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    Grasshopper Bank leans into BaaS

    The deal to offer banking-as-a-service to fintech Treasure Financial marks a first for the New York City-based bank, which, under CEO Mike Butler, has broadened its focus to include the small-business sector.

    By July 27, 2022
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    Crypto firm Voyager accuses FTX of tanking bankruptcy process

    By publicly offering Voyager customers access to cash for their stranded assets, FTX is “chilling” Voyager’s once-private trawl for buyers with a “low-ball bid dressed up as a white knight rescue,” the bankrupt crypto firm said.

    By July 26, 2022
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    What the POTS shutdown will mean for faxing in the banking industry

    The FCC is officially closing the door on analog/copper POTS lines. Read what this means for the banking industry.

    July 25, 2022
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    KeyBank, Truist execs share their approaches to fintech partnerships

    Acquiring a startup can help a bank keep up with consumer demand for new products, reach new customers and compete with nonbank entities. And, as Truist learned, banks don't always have to initiate.

    By July 21, 2022
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    Truist counters higher personnel expenses with money-saving cloud integration

    “It gives us comfort that our expenses will be contained over the next year or two,” Daryl Bible, the bank’s CFO, said Tuesday during a second-quarter earnings call.

    By Lindsey Wilkinson • July 20, 2022
  • CEO of Starling Bank Anne Boden answers questions during an onstage interview at TechCrunch Disrupt Berlin.
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    Noam Galai via Getty Images

    UK fintech Starling pulls Irish banking license application

    "Sometimes changing course is the right option," CEO Anne Boden wrote Monday in a memo to employees. The company still plans to expand to Europe through software-as-a-service deals with other lenders, Boden said.

    By July 19, 2022
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    JPMorgan's Dimon blasts 'capricious, arbitrary' Fed stress tests

    “It’s inconsistent. It’s not transparent. It’s too volatile,” the CEO said of the stress test. JPMorgan said last month it would keep its dividend payouts flat in response to the central bank’s capital requirements.

    By July 15, 2022
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    Morgan Stanley sets aside $200M over personal-device misuse probe

    The disclosure, in the bank’s earnings report Thursday, follows warnings by Citi, Goldman Sachs and HSBC regarding regulator activity. The figure mirrors an amount JPMorgan paid in December over similar allegations.

    By July 14, 2022
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    Goldman poaches Google incubator's founder to run innovation office

    Jared Cohen may be the highest-profile tech hire the bank has made since it lured Peeyush Nahar away from Uber to run Marcus. Time will tell whether the innovation office will help Goldman reverse its recent talent drain.

    By July 13, 2022
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    Gen Z banking app GoHenry expands to Europe through Pixpay acquisition

    As a growing number of neobanks compete for young customers, GoHenry’s acquisition of Pixpay, which also targets the Gen Z crowd, is a move in the direction of potential additional industry consolidation.

    By July 12, 2022
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    Brainard urges more oversight of crypto

    The Federal Reserve vice chair on Friday said the May collapse of the Terra stablecoin, which wiped out millions of dollars in a matter of days, was “reminiscent of classic runs throughout history.”

    By July 11, 2022
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    Sponsored by Aspire Systems

    Insurers strike gold with the right analytics tool amid the digital shift

    Learn how a leading US insurer cut software license costs by 10% with Aspire’s ServiceNow solution.

    July 11, 2022
  • Can banks benefit from the wave of fintech layoffs?

    The fintech sector’s funding woes could be the answer to banking’s tech talent shortage.

    By July 7, 2022
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    Crypto brokerage Voyager files for Chapter 11 bankruptcy

    The move allows the company to reorganize as it seeks to recover losses from a defaulted loan to hedge fund Three Arrows. A firm owned by FTX CEO Sam Bankman-Fried is Voyager's largest creditor.

    By July 6, 2022
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    Revolut names new US CEO to accelerate North American growth

    The move represents an expansion of responsibilities for Sid Jajodia, who will continue to serve as the company’s chief banking officer, a role he’s held since July 2021.

    By July 5, 2022
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    Meta to shutter Novi digital currency project Sept. 1

    The company’s website tells users how to withdraw funds and access transaction data that they’ll lose access to once the Novi pilot ends. Meta, however, said it plans to use Novi’s technology in future projects.

    By July 5, 2022
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    FTX could buy BlockFi for up to $240M

    The deal boosts — to $400 million — a revolving credit facility the crypto exchange offered the lender last month. The potential purchase price may vary based on “performance triggers.”

    By July 1, 2022
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    Innovation's role in improving onboarding and blocking bad actors

    In an increasingly digital world, where food, entertainment and transport are available on-demand, today's banks must take customers' expectations into account in order to remain competitive. 

    July 1, 2022