Technology: Page 4


  • Treasury Prime multi-bank network
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    Treasury Prime, Narmi partner to offer customers FedNow service

    The partnership aims to simplify and accelerate the adoption of FedNow by small and medium-sized financial institutions in Treasury Prime’s network.

    By April 3, 2024
  • Specialists walking across a solar power plant.
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    Felbaba Volodymyr via Getty Images
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    Goldman renewables spinoff MN8 Energy secures $325M investment

    Ridgewood Infrastructure and Switzerland-based Mercuria Energy both secured observer seats on the renewable energy company’s board of directors.

    By Lamar Johnson • April 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
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    Justin Sullivan / Staff via Getty Images
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    Bank of America rolls out platform linking small businesses, CDFIs

    The online platform, a partnership with the Community Reinvestment Fund, USA, provides access to around 150 local community development financial institutions and other business support organizations.

    By March 28, 2024
  • Legal issues
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    Michael M. Santiago via Getty Images
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    FTX founder Sam Bankman-Fried gets 25 years in prison

    The former crypto exchange CEO was convicted in November on seven counts of fraud and conspiracy.

    By March 28, 2024
  • Crypto regulation
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    Leon Neal via Getty Images
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    SEC can continue its case against Coinbase

    The agency “sufficiently pleaded that Coinbase operates as an exchange, as a broker, and as a clearing agency under the federal securities laws,” U.S. District Judge Katherine Polk Failla ruled.

    By March 27, 2024
  • Judges Or Auctioneer Gavel On The Dollar Cash Background
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    Avosb via Getty Images
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    SEC asks judge to green-light $2B penalty for Ripple

    The crypto firm hasn’t accepted responsibility for the portion of XRP sales a judge ruled illegal in July, the SEC said. In a social post, Ripple’s CEO said the company would “expose the SEC for what they are” in a filing next month.

    By March 26, 2024
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    Robinhood co-founder steps down

    Baiju Bhatt, who co-founded the fintech 11 years ago and was most recently chief creative officer, is moving on to “focus on his next enterprise.”

    By March 25, 2024
  • Classic architecture details of a Bank building
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    Warchi via Getty Images
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    Banks balance cloud, cyber priorities with AI eagerness

    More than two-thirds of financial firms have made meaningful progress on core modernization, according to Broadridge data.

    By Matt Ashare • March 25, 2024
  • Cryptocurrency
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    da-kuk via Getty Images
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    Bakkt names Andy Main as new CEO in leadership shuffle

    The switch comes after the New York Stock Exchange threatened to delist the crypto platform over its share price. Bakkt’s next chief executive will detail his vision for the company March 25 in an earnings call.

    By March 20, 2024
  • Legal issues
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    Michael M. Santiago via Getty Images
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    He could get 5 years. He could get 100. For how long will Sam Bankman-Fried go to prison?

    Ryan Lee O'Neill, a New Jersey-based defense attorney, has represented countless defendants in the FTX founder's place. She has her own estimates.

    By March 20, 2024
  • robinhood
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    Robinhood goes live in the UK

    The company indefinitely postponed its U.K. launch in 2020 over technical issues but rolled out a waitlist in November. It did, however, pause margin investing for U.K. users.

    By March 20, 2024
  • FTC fines fintechs Biz2Credit, Womply $59M over PPP actions

    The agency claimed Biz2Credit misrepresented the timeline for application processing, and Womply had inadequate customer service in the COVID-era crunch for small-business loans.

    By March 19, 2024
  • Securities and Exchange Commission Chair Gary Gensler speaks during a hearing.
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    Kevin Dietsch via Getty Images
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    SEC busts company behind $300M crypto Ponzi scheme targeting Latinos

    Under the leadership of Gary Gensler, the SEC has intensified efforts to protect investors involved in what he calls the “Wild West” of crypto assets.

    By Jim Tyson • March 15, 2024
  • A view of the exterior of The Morgan Stanley Headquarters
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    Michael Lawrence via Getty Images
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    Morgan Stanley names firmwide AI chief

    Jeff McMillan, a 15-year veteran of the bank, led the creation of Morgan Stanley’s generative AI-powered chatbot last year as chief analytics and data officer.

    By March 15, 2024
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    ipopba via Getty Images
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    A year later: SVB’s impact on fintech

    Fintechs like Mercury and MoneyLion showed their resilience, offering innovative products and assisting their customers through difficult times.

    By March 13, 2024
  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    FDIC vice chair wants regulators to hurry up on addressing tokenization

    Tokenization could be a "major leap" for the monetary system. Travis Hill doesn't want the U.S. to be left out.

    By March 12, 2024
  • JPMorgan Chase building signage in New York City
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    Michael M. Santiago / Staff via Getty Images
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    JPMorgan to launch biometric checkout next year

    The bank’s payments unit plans to engage in more pilots this year before rolling out the checkout service broadly next year, said Prashant Sharma, JPMorgan’s executive director of biometrics and identity solutions.

    By March 11, 2024
  • Team Synctera, Peter Hazlehurst
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    Q&A

    How banks, fintechs can navigate regulatory challenges in BaaS space

    Banks have a responsibility to treat their customers fairly because they deal with people’s money, said the CEO of Synctera, a partner of Lineage Bank, which was recently hit with an FDIC consent order over BaaS.

    By March 6, 2024
  • JPMorgan's building headquarters as seen on Madison Avenue in New York City.
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    Michael M. Santiago via Getty Images
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    JPMorgan Chase’s Neovest buys LayerOne Financial

    The deal allows Neovest’s 500-plus clients, many of them hedge funds, to monitor portfolios, conduct risk assessments and perform compliance checks, among other things.

    By March 5, 2024
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    Sean Pavone via Getty Images
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    Metropolitan Commercial Bank exits BaaS

    “The decision to terminate these financial service partnerships will reduce the Company’s exposure to the heightened, and evolving, regulatory standards related to these activities,” the bank said in its 10-K filing last week.

    By March 4, 2024
  • Crypto regulation
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    Leon Neal via Getty Images
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    Coinbase users see $0 balance in technical glitch

    “We are aware that some users may see a zero balance across their Coinbase accounts and may experience errors in buying or selling,” the crypto exchange wrote on its website. “Your assets are safe."

    By Feb. 29, 2024
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    nathaphat via Getty Images
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    Smaller credit unions face hurdles despite NCUA’s fintech rule

    The financial innovation rule may open the door to more partnerships, but larger institutions still have advantages on tech, budget and risk management, experts say.

    By Ken McCarthy • Feb. 28, 2024
  • Green Dot GO2bank
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    Courtesy of Green Dot
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    Green Dot faces Fed’s proposed consent order

    The digital bank set aside $20 million to cover a potential penalty stemming from compliance risk management issues predating the company’s current management.

    By Feb. 28, 2024
  • treasury prime
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    Treasury Prime has laid off half its staff

    The banking-as-a-service platform is shedding its fintech-bank liaison duties — and about 40 to 50 employees — to focus exclusively on providing software to banks.

    By Feb. 28, 2024
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    Dan Kitwood / Staff via Getty Images
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    Kraken wants SEC suit dismissed

    The playbook for Kraken's motion to dismiss looks a lot like those of Binance and Coinbase.

    By Feb. 23, 2024