Morgan Stanley to roll out AI bot

The bank has spent months testing its OpenAI-powered chatbot on advisers, who will use it to sift through Morgan Stanley’s research and data, among other things.

By Gabrielle Saulsbery • Sept. 7, 2023

Goldman’s strategy retreat leaves GreenSky in limbo

The installment-lending fintech, which Goldman is looking to sell, faces an uncertain future as the investment bank distances itself from an ambitious retail strategy.

By Anna Hrushka • Sept. 7, 2023

Explore the Trendline➔

Artificial intelligence

Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

By Banking Dive staff

JPMorgan Chase revs up payments lab hiring

The bank is venturing further into fintech and payments for new product development at its lab in Greece.

By Tatiana Walk-Morris • Sept. 7, 2023

Growth in fintech sector spurs specialty college programs

Worcester Polytechnic Institute launched both a fintech undergraduate and graduate degree program last week. The prestigious technology school is far from the first.

By Gabrielle Saulsbery • Sept. 6, 2023

USAA notches latest mobile-deposit victory with Discover deal

The agreement lets Discover access 130 USAA patents and continue offering remote deposit capture technology. USAA has notched nine-figure court wins against Wells Fargo and PNC over similar patents.

By Anna Hrushka • Sept. 6, 2023

Genesis to shutter US crypto spot trading desk

Trades on the platform must be settled by Sept. 21, and open accounts will be closed Sept. 30, the company said.

By Gabrielle Saulsbery • Sept. 6, 2023

‘We’re in the 1999 of the internet era’: a16z’s Julie Yoo on fintech’s potential

Yoo, who leads health tech investment at venture-capital firm Andreessen Horowitz, outlined her fintech investment thesis and why the healthcare industry is at an inflection point for adoption.

By Rebecca Pifer • Aug. 31, 2023

Goldman, regional bank warnings show the Fed is now playing offense

The central bank has requested action from Citizens, Fifth Third and M&T regarding capital, liquidity, technology and compliance, according to Bloomberg. Goldman’s fintech partnerships are reportedly under scrutiny, too.

By Dan Ennis • Aug. 31, 2023

Stash appoints Dave veteran as CTO, eyeing new growth phase

Chien-Liang Chou spent nearly three years at Dave, overseeing the fintech’s effort to go public in 2022 as the team tripled.

By Suman Bhattacharyya • Aug. 30, 2023

UBS, JPMorgan alum Youngwood named next Nasdaq CFO

She replaces Ann Dennison, effective Dec. 1, at a time when the exchange is looking to close its acquisition of software firm Adenza and broaden its focus beyond equities trading.

By Dan Ennis • Aug. 30, 2023

Massachusetts’ top court rules against Robinhood

The Supreme Judiciary Court’s 5-0 ruling upholds the state’s fiduciary rule, holding broker-dealers like Robinhood to fiduciary duties of care and loyalty, similar to investment advisers.

By Gabrielle Saulsbery • Aug. 28, 2023

JPMorgan’s lawsuit against Frank execs on ice through criminal trial

Prioritizing the criminal case against Charlie Javice and Olivier Amar may “hasten settlement [or] obviate the need for this case altogether,” a judge ruled Thursday.

By Gabrielle Saulsbery • Aug. 21, 2023

Fed orders wind-down of FTX-associated Farmington State Bank

The central bank alleged the small Washington state-based lender changed its business plan and started working with digital assets without first gaining regulatory approval.

By Gabrielle Saulsbery • Aug. 18, 2023

Silvergate CEO out as bank continues wind-down

CEO Alan Lane left his role Tuesday, alongside Chief Legal Officer John Bonino. Chief Financial Officer Antonio Martino will follow on Sept. 30.

By Gabrielle Saulsbery • Aug. 17, 2023

Digital-only Ivy beats deposit expectations, Cambridge Savings says

Ivy Bank’s deposit numbers exceeded the bank’s annual goal for 2022 by 64%, according to Cambridge Savings Bank, which launched the digital-only platform in 2021.

By Anna Hrushka • Aug. 17, 2023

Citizens Bank of Edmond launches digital bank for military recruits

The new platform, called Roger, aims to reach entry-level recruits, many of whom enter basic training without bank accounts, CEO Jill Castilla said.

By Anna Hrushka • Aug. 15, 2023

Custodia launches with US dollar deposits, preps crypto custody

The bank, which is engaged in a legal battle with the Fed, said it’s initially serving U.S. business customers only and awaiting final regulatory clearance to launch its bitcoin custody service.

By Anna Hrushka • Aug. 14, 2023

Bittrex settles with SEC for $24M

The bankrupt crypto exchange, its former CEO, and Bittrex’s foreign affiliate paid to settle charges, without admission of guilt, of operating an unregistered national securities exchange.

By Gabrielle Saulsbery • Aug. 11, 2023

New Fed unit to supervise crypto, nonbank partnerships

The central bank clarified that any state bank it supervises must get the regulator’s green light before issuing, holding or transacting in dollar tokens, such as stablecoins, to facilitate payments.

By Anna Hrushka • Aug. 9, 2023

Coinbase asks judge to dismiss SEC suit

Citing a separate ruling involving Ripple, Coinbase's chief legal officer said the SEC “has trampled the strict boundaries on its basic authority."

By Dan Ennis • Aug. 4, 2023

Banks look beyond mobile-platform adoption, aim to boost UX

Curbing dropoff rates and optimizing user experience flow is a higher priority than incorporating as many bells and whistles as possible, executives said.

By Suman Bhattacharyya • Aug. 4, 2023

Figure withdraws bank charter application

The blockchain startup applied for a charter in 2020, then included plans to seek deposit insurance after the Conference of State Bank Supervisors sued.

By Gabrielle Saulsbery • Aug. 2, 2023

State Street’s global head of digital custody is leaving

“Sometimes the want for a little time off turns into a need for a bigger change,” Swen Werner said in a LinkedIn post. Werner is at least the second digital-focused exec to leave State Street this year.

By Dan Ennis • Aug. 2, 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

Alternative payment methods – a proven payments imperative

To stave off competition and satisfy customer demand, payment providers need to act now on their alternative payment methods strategy.

July 31, 2023