Technology: Page 2

  • Exterior of the Federal Reserve building in Washington, D.C.
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    Anna Hrushka/Banking Dive

    A CBDC could make cross-border payments faster, safer: NY Fed

    Researchers designed a prototype digital currency and blockchain and simulated foreign exchange spot transactions that cleared within 10 seconds but said the study doesn’t endorse a CBDC or assume the Fed will issue one.

    By Nov. 8, 2022
  • the exterior of the federal reserve building in washington, dc
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    crbellette via Getty Images

    FedNow gives fee holiday in 2023

    The Fed reiterated the fees the banks will ultimately charge — namely, customer credit transfer and customer credit transfer return fees of $0.045 per-item and a participation fee of $25 per routing transit number per month.

    By Lynne Marek • Nov. 7, 2022
  • Trendline

    Fraud and AML in banking

    Peer-to-peer payments, crypto platforms, ESG investment vehicles and COVID-era relief programs continue to be sources of fraud-related frustration.

    By Banking Dive staff
  • A laptop screen shows a login screen for an online .
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    ipopba via Getty Images

    Indiana-based First Financial to cut 10% of its branch footprint

    The bank plans to consolidate seven of its 72 locations by the first quarter of 2023, citing customers' shift to digital platforms in what may stand as a microcosm for a national trend.

    By Nov. 3, 2022
  • Digital bank Chime cuts 12% of workforce

    Chime co-founder and CEO Chris Britt said the move would allow the company to flourish “regardless of market conditions," according to an internal memo.

    By Nov. 2, 2022
  • The photo shows cannabis plants growing in a greenhouse.
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    Drew Angerer via Getty Images

    Safe Harbor to buy cannabis banking, payments fintech

    The deal will add 300 accounts to Safe Harbor’s portfolio and expand the firm’s operations to more than 30 states.

    By Nov. 2, 2022
  • Small business owner talks on phone while standing at register
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    gorodenkoff via Getty Images

    Small business owners want more advice from banks, study finds

    A J.D. Power study found that small businesses trust banks and are seeking practical advice to pull through tough economic conditions.

    By Nov. 1, 2022
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    Gettyboard via Getty Images
    Sponsored by ServiceNow

    How hyperautomation transforms the bank customer experience

    Though banks are early adopters of technology and their customers are eager to take full advantage of innovation; traditional financial services companies face a big dilemma, especially when it comes to delivering the many benefits of automation to their customers.

    Oct. 31, 2022
  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    Permission granted by Office of the Comptroller of the Currency

    New OCC office to focus on fintech

    The regulator said it plans to open the office next year in response to the growing complexity of bank-fintech partnerships.

    By Oct. 28, 2022
  • brett harrison
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    Gabrielle Saulsbery/Banking Dive

    Here’s what Brett Harrison expects in the crypto market

    The "decade of free money" is ending, but the future is bright, said the former president of FTX US. 

    By Oct. 27, 2022
  • An OmniMoney debit card
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    Permission granted by Boost Mobile

    Boost Mobile ventures into banking

    “We've got millions of customers coming into Boost stores who are paying in cash every month,” CEO Stephen Stokols said. “We thought, ‘We give them the connectivity. Can we give them the banking services, as well?’”

    By Oct. 27, 2022
  • Federal Reserve Governor Christopher Waller sits on a chair on stage.
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    Lynne Marek/Banking Dive

    FedNow will be a ‘public utility model,’ Waller says

    The central bank governor equated the nascent system with an interstate highway on which private companies will provide "on-ramps" and "off-ramps."

    By Lynne Marek • Oct. 26, 2022
  • Truist building
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    "Truist Plaza" by Tyler Lahti is licensed under CC BY-SA 2.0

    New Truist innovation team includes Long Game engineers

    “The decisions that banks make over the next two to three years from a technology perspective are going to define who wins over the next decade,” said Christina Bechhold Russ, head of strategic initiatives at Truist Ventures.

    By Oct. 26, 2022
  • marqeta bill pay fintech
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    Permission granted by MARQETA

    Marqeta launches demand deposit accounts in banking push

    The company's suite of seven banking products includes early wage access, bill pay and instant funding. The latter two will be available in beta next year.

    By Oct. 25, 2022
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    ipopba via Getty Images
    Deep Dive

    Banking-as-a-service grows as regulators play catch-up

    The BaaS space is expected to reach $74.55 billion by 2030, and has emerged as an enticing revenue stream for community banks. Meanwhile, the OCC has hinted more regulation is forthcoming.

    By Oct. 25, 2022
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    LukaTDB via Getty Images
    Sponsored by Cisco - Meraki

    Meeting your customers where they are—5 tips to keep banking secure from anywhere

    Modern technology, including environmental sensors and cloud-managed smart cameras, provides innovative solutions and in fact has never been more important for banking institutions.

    Oct. 24, 2022
  • Wells Fargo branch exterior
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    Courtesy of Wells Fargo multimedia resources

    Wells Fargo taps Google AI on virtual assistant launch

    “This partnership will expand our customers’ digital financial support network by enabling meaningful money conversations,” the bank’s head of digital said.

    By Oct. 24, 2022
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    Michael Nagle via Getty Images

    JPMorgan taps ex-Celsius exec for crypto legal post

    The bank appears to be expanding its digital assets legal team despite CEO Jamie Dimon’s well-known skepticism. Aaron Iovine began the year at Cross River Bank before an eight-month stint at Celsius.

    By Oct. 19, 2022
  • Plant sprouting out of dollar bills
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    Newbird via Getty Images

    Climate-conscious neobank Aspiration names new CEO

    The leadership transition comes a year after the company announced plans to go public through a merger with special-purpose acquisition company InterPrivate III Financial Partners Inc.

    By Oct. 18, 2022
  • Federal Reserve building in Washington, D.C.
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    Chip Somodevilla via Getty Images

    Fintechs clamor for FedNow access

    The association representing Block, Stripe and others is asking the central bank to make access to the faster payments system more widely available.

    By Lynne Marek • Oct. 18, 2022
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    Green Dot

    Green Dot fires CEO, names replacement

    The company terminated Dan Henry, its CEO since 2020, on Friday, it said. George Gresham, the firm’s chief financial and operating officer, is stepping into the top role.

    By Oct. 17, 2022
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    Chip Somodevilla via Getty Images

    Fed’s Waller expresses skepticism on CBDC

    Launching a digital currency could introduce costs and risks that could harm the U.S. dollar's standing internationally, Waller said. The dollar’s primacy, he added, has little to do with technology.

    By Oct. 17, 2022
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    Scott Olson via Getty Images

    Warren roasts Wells Fargo’s ‘severely bad performance’ on Zelle fraud

    Four of the seven banks that own Zelle reported specific data to the senator, but she focused on Wells CEO Charlie Scharf specifically in a letter Thursday.

    By Oct. 14, 2022
  • A man in shadow looks at his mobile device near a lit up Apple logo.
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    Drew Angerer/Getty via Getty Images

    Apple to launch high-yield savings account with Goldman Sachs

    The move is the logical next step for the Apple-Goldman partnership, according to one consultant, who said the day-to-day banking product complements Apple’s Goldman-powered credit-card offering.

    By Oct. 14, 2022
  • Cryptocurrency tokens lying next to a gavel
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    Just_Super via Getty Images

    Custodia Bank accuses Fed of favoritism toward BNY Mellon

    The Wyoming-based bank said the Fed’s warning last week on crypto is counter to allowing BNY Mellon to hold and transfer digital assets.

    By Oct. 13, 2022
  • Michael Barr
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    Tasos Katopodis via Getty Images

    4 takeaways from Michael Barr’s DC Fintech Week speech

    The Federal Reserve’s vice chair for supervision stressed caution with banks’ ties to crypto and spotlighted what sets stablecoins apart from other digital assets.

    By Oct. 13, 2022