Technology: Page 3
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Celsius emerges from bankruptcy after 18 months
As part of its bankruptcy exit, the crypto exchange is distributing $3 billion to creditors and launching a Bitcoin mining firm.
By Gabrielle Saulsbery • Feb. 2, 2024 -
Genesis Global settles SEC suit for $21M
The settlement will, among other things, "eliminate the risks, expenses, and uncertainty associated with protracted litigation against the SEC."
By Gabrielle Saulsbery • Feb. 2, 2024 -
Trendline
Customer service
Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.
By Banking Dive staff -
FTX to repay customers, nixes reboot
“I’d like the court and stakeholders to understand this is not a guarantee. ... But we believe the objective is within reach and we have a strategy to achieve it,” said FTX attorney Andrew Dietderich.
By Gabrielle Saulsbery • Feb. 1, 2024 -
Nasdaq to cut jobs to streamline operations: report
The second-largest U.S. stock exchange is planning to cut its workforce as it integrates software provider Adenza into its business to improve efficiency, Bloomberg reported.
By Rajashree Chakravarty • Jan. 31, 2024 -
The banking industry outlook on 2024: The year of wait-and-see
A capital requirements proposal, fintech regulation and the CFPB itself hang in the balance as opinions (from the public and a court) and an ever-ticking clock loom large.
By Dan Ennis • Jan. 30, 2024 -
Trading platform EquiLend down following cyberattack
The prolific criminal group LockBit has reportedly claimed credit for the attack, raising further questions about the risks facing the securities and banking industries.
By David Jones • Jan. 24, 2024 -
Figure eyes SEC approval for interest-bearing stablecoin
The company’s token would be redeemable at 1 cent per certificate, rather than $1, and interest would accrue daily and be paid monthly to the user, according to paperwork filed with the agency.
By Dan Ennis • Jan. 23, 2024 -
Jack Henry vaults COO to CEO seat
Greg Adelson, the company’s current president and chief operating officer, will take the reins from outgoing CEO David Foss in July.
By James Pothen • Jan. 23, 2024 -
Binance, SEC face off in court
For the second time in one week, the Securities and Exchange Commission sought to convince a judge that crypto is a security, and a crypto company sought to convince her of the opposite.
By Gabrielle Saulsbery • Jan. 23, 2024 -
BaaS to require strong commitment, investment in 2024, experts say
While demand for embedded banking services will continue to propel the BaaS space, experts say regulatory scrutiny will likely separate committed banks from those with a casual interest in the model.
By Anna Hrushka • Jan. 22, 2024 -
FedNow draws some banks, as others lag
The Federal Reserve is building up bank participation in FedNow, but big financial institutions such as Bank of America, Citi, PNC and Capital One, remain on the sidelines — for now.
By Lynne Marek • Jan. 19, 2024 -
Bank of America CEO on digital transformation: ‘There’s always more to go’
The Charlotte, North Carolina-based lender has spent billions of dollars on data systems to support AI tools in the past decade and assisted 18 million unique users in Q4, CEO Brian Moynihan said.
By Matt Ashare • Jan. 18, 2024 -
Citi poured $12B into tech last year, retired nearly 400 legacy apps
While efforts to modernize are underway, the company is operating at a loss and plans to cut 20,000 positions by 2026 as part of a broader restructuring.
By Matt Ashare • Jan. 18, 2024 -
Varo rolls out free tax prep and filing tool with Column Tax
All Varo Bank customers can access the tax filing service, which uses pre-filled data based on user information and helps to file taxes in less than 15 minutes, the lender said.
By Rajashree Chakravarty • Jan. 17, 2024 -
Genesis Global Trading to pay $8M fine, surrender BitLicense
The Digital Currency Group subsidiary has been winding down since September. New York's crypto czar penalized it Friday for failing to comply with regulations while in operation.
By Gabrielle Saulsbery • Jan. 16, 2024 -
First Citizens can move forward with $1.2B poaching suit against HSBC
The judge in the case called the suit “confusing," and gave First Citizens 28 days to file an amended complaint. The bank alleges an ex-SVB executive masterminded a plan to bring 42 colleagues to HSBC.
By Gabrielle Saulsbery • Jan. 12, 2024 -
Stablecoin issuer Circle files for IPO
Circle, which issues the USDC stablecoin, said Thursday it filed confidential paperwork with the Securities and Exchange Commission — one day after the SEC's approval of 11 spot bitcoin ETFs.
By Gabrielle Saulsbery • Jan. 11, 2024 -
FTC slaps $3M penalty on fintech FloatMe
The federal agency alleged the cash advance app company charged users without consent and misled consumers on eligibility requirements.
By Rajashree Chakravarty • Jan. 10, 2024 -
Remitly taps ads to woo new clients
The cross-border payments company has boosted marketing to build up its remittance clientele.
By Lynne Marek • Jan. 10, 2024 -
Barclays slashes 5,000 jobs in cost-cutting effort
The London-based bank said it cut 5,000 roles from its global workforce of 84,000 last year in a bid to "simplify and reshape the business.”
By Anna Hrushka • Jan. 9, 2024 -
5 banking trends to watch in 2024
Banking observers will watch this month’s earnings for clues as to whether 2023’s crisis can return. The capital-requirements debate and a CFPB-focused Supreme Court case also warrant attention.
By Gabrielle Saulsbery , Rajashree Chakravarty , Anna Hrushka , Dan Ennis • Jan. 9, 2024 -
Sponsored by Elan Corporate Payment Systems
How banks can create emotional connections to drive customer loyalty
Making life easier for a commercial customer’s employees strengthens emotional connections and bolsters CX.
Jan. 8, 2024 -
Binance.US taps chief compliance officer
Lesley O’Neill joins Binance.US after two years holding a similar position at digital identity verification fintech Prove Identity.
By Gabrielle Saulsbery • Jan. 5, 2024 -
Bankman-Fried won’t face second trial
The former FTX CEO was set to be tried on several other charges, including conspiracy to bribe foreign officials. But prosecutors told the judge they just want to move forward with sentencing.
By Gabrielle Saulsbery • Jan. 3, 2024 -
TD eyes expansion of middle-markets business
The Canadian lender has identified Chicago and Atlanta as two cities where the firm can capture more middle-market clients, such as universities, nonprofits and healthcare systems without having to build more branches.
By Anna Hrushka • Dec. 22, 2023