Webster Financial to buy medical fund custodian for $350M

It’s the bank’s second consecutive deal involving a deposit-gathering platform. Webster said it would acquire interLINK, a platform managing $9 billion in deposits, last December.

By Rajashree Chakravarty • Dec. 18, 2023

SEC won’t budge on crypto regulation

In denying a petition submitted by Coinbase, the agency has concluded rulemaking isn’t needed for issuers and intermediaries to know which – and how – crypto assets fit within securities law.

By Robert Freedman • Dec. 18, 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

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

Common expense policy mistakes—and how to avoid them

Many of the solutions to common expense policy mistakes are simply to do the opposite of what is in place today.

Dec. 11, 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

3 takeaways from bank executives’ conference appearances

Wells Fargo is setting aside up to $1 billion for "unanticipated" severance costs. Lazard plans to stock up on managing directors. And JPMorgan kept most of First Republic's clients — with one catch.

By Dan Ennis • Dec. 6, 2023

The rise of fintech and embedded payments

Expectations are rising for banks to deliver better tools to address customer's financial needs.

Dec. 4, 2023

How empathetic debt collections can boost revenue and enhance consumer loyalty

See how leading financial institutions are combining digital solutions with empathy to create a customer-centric collections experience.

By Mamta Rodrigues, Global President of Banking, Financial Services and Insurance at Teleperformance • Dec. 4, 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

Apple seeks to end Goldman Sachs credit-card partnership: reports

The proposed winddown would entail the entire consumer partnership, including the savings account that was rolled out this year, sources told The Wall Street Journal.

By Anna Hrushka • Nov. 29, 2023

Google, Symphony launch voice analytics offering for banks

The new messaging compliance tool, which combines Google Cloud's Vertex AI with Symphony’s Cloud9, comes as regulators are cracking down on record-keeping violations at financial firms.

By Anna Hrushka • Nov. 28, 2023

The digital imperative: How banks are leveraging data & AI for competitive advantage

Banks need to embrace new technologies, such as artificial intelligence (AI), that will help them evolve.

Nov. 27, 2023

Want to avoid an HMBradley scenario? Diversify your bank network, Treasury Prime CEO says

A recent pivot by neobank HMBradley is a prime example of what can happen when a fintech relies on just one firm to handle its financial plumbing, Treasury Prime’s Chris Dean said.

By Anna Hrushka • Nov. 22, 2023

Binance names new CEO after taking $4.3B in penalties

“I made mistakes, and I must take responsibility," the crypto exchange's founder Changpeng Zhao tweeted. "This is best for our community, for Binance, and for myself."

By Gabrielle Saulsbery • Nov. 22, 2023

Binance CEO to step down: reports

Changpeng Zhao, the founder and CEO of the world's largest crypto exchange, will step down and plead guilty to AML charges, Forbes and WSJ reported.

By Gabrielle Saulsbery • Nov. 21, 2023

SEC sues Kraken for commingling funds, failing to register

The Securities and Exchange Commission has added another suit to its list of ongoing legal complaints against cryptocurrency firms.

By Gabrielle Saulsbery • Nov. 21, 2023

5 takeaways from Michael Barr’s remarks at The Clearing House conference

The Fed's vice chair for supervision expressed optimism about FedNow’s benefits while making the case for the central bank's contentious capital-requirements proposal.

By Suman Bhattacharyya • Nov. 20, 2023

Ally’s generative AI experiment reduces marketing busywork

Ally.ai is helping with early-stage marketing processes including summarizing content, drafting ad copy and improving SEO.

By Peter Adams • Nov. 17, 2023

Neobank HMBradley to wind down retail operations in B2B pivot

After failing to hit growth targets, the fintech is shutting down its consumer operations and looking to sell its technology to banks.

By Anna Hrushka • Nov. 16, 2023

Refine Intelligence raises $13M with novel approach to AML

Wayne, New Jersey-based Valley Bank took a chance on Refine as its first customer. What it saw inspired an investment from Valley Ventures, the bank’s VC arm.

By Gabrielle Saulsbery • Nov. 15, 2023

The Clearing House nabs top Fed official

The hire is tasked with boosting adoption of The Clearing House’s RTP real-time payments system, as the central bank's rival FedNow system seeks to attract users.

By Tatiana Walk-Morris • Nov. 14, 2023

FTX sues Bybit for $953M

The bankrupt crypto exchange accused Bybit of holding hundreds of millions of dollars in assets “hostage” after they were transferred off FTX by Bybit affiliate Mirana shortly before FTX’s collapse.

By Gabrielle Saulsbery • Nov. 14, 2023

Celsius bankruptcy plan approved

At its peak, Celsius purported to hold $25 billion in assets, and its failure was one of crypto's biggest before the fall of FTX four months later. It expects to emerge from Chapter 11 in early 2024.

By Gabrielle Saulsbery • Nov. 10, 2023