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 Anna Hrushka • Oct. 28, 2022

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 Gabrielle Saulsbery • Oct. 27, 2022

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

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 Anna Hrushka • Oct. 27, 2022

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

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 Suman Bhattacharyya • Oct. 26, 2022

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 Gabrielle Saulsbery • Oct. 25, 2022

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 Anna Hrushka • Oct. 25, 2022

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 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 Gabrielle Saulsbery • Oct. 24, 2022

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 Gabrielle Saulsbery • Oct. 19, 2022

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 Anna Hrushka • Oct. 18, 2022

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

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 Anna Hrushka • Oct. 17, 2022

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 Gabrielle Saulsbery • Oct. 17, 2022

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 Gabrielle Saulsbery • Oct. 14, 2022

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 Anna Hrushka • Oct. 14, 2022

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 Anna Hrushka • Oct. 13, 2022

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 Dan Ennis • Oct. 13, 2022

Gen Z neobank Step launches crypto investing, rewards

The fintech, which claims to have more than 3 million customer accounts, said it is partnering with digital assets infrastructure and regulatory platform Zero Hash to offer transaction and custody services.

By Anna Hrushka • Oct. 12, 2022

Crypto exchange Bittrex to pay $29M to settle AML, sanctions charges

The exchange failed to file any suspicious activity reports for more than three years and allowed customers in Syria, Sudan, Iran, Cuba and the Crimea to make tens of thousands of transactions, two Treasury offices said Tuesday.

By Dan Ennis • Oct. 12, 2022

BNY Mellon set to take clients’ crypto

The move comes more than a year and a half after the bank laid out its intention to hold, transfer and issue digital assets. It received NYDFS approval within the past month.

By Dan Ennis • Oct. 11, 2022

OCC wants more data on banks’ crypto-related activities

Banks are already required to seek the OCC’s non-objection before engaging in crypto activity. But further enhancements may be needed “to track the risk of cross-contagion,” Acting Comptroller Michael Hsu said.

By Anna Hrushka • Oct. 11, 2022

Celsius co-founder Leon follows Mashinsky out

The crypto lending firm’s chief strategy officer, Shlomi Daniel Leon, has left the company, shortly after fellow co-founder Alex Mashinsky, joining a growing list of recently departed crypto executives.

By Gabrielle Saulsbery • Oct. 5, 2022

Inside Stash’s crypto-winter gamble

The investment app expands access to digital assets, spotlighting a long-term view of the currencies, in the platform's first offering on a new core system.

By Suman Bhattacharyya • Oct. 5, 2022

Crypto bank Anchorage pushes into Asia

Anchorage Digital, valued over $3 billion, established six partnerships across Asia, including in Singapore and Thailand.

By Gabrielle Saulsbery • Oct. 5, 2022