Rethinking overdraft

While many stakeholders would agree banks need to revamp the fee-based model, it remains to be seen whether change will come through legislation or the market.

By Anna Hrushka • July 12, 2021

Morgan Stanley falls prey to lingering effects of Accellion breach

Data from the bank was compromised through the vendor of a vendor, a hallmark of difficult-to-prevent — and increasingly popular — supply chain security incidents.

By Naomi Eide • July 12, 2021

Explore the Trendline➔

The Banking Dive Outlook on 2022

Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.

By Banking Dive staff

Bank of America becomes last US SIFI to make crypto push

The bank formed a team to research digital assets and related technology, but BofA's relative emphasis on the retail side and lack of well-publicized gaffes may leave it less dependent on a new stream.

By Dan Ennis • July 9, 2021

Biden executive orders target bank mergers, financial data sharing

One measure requires the Justice Department and bank regulators to update guidelines to boost merger scrutiny, while another encourages the CFPB to issue rules giving customers greater access to their financial data.

By Anna Hrushka • July 9, 2021

At JPMorgan Chase, IT focuses on the end user

Technology's business value elevated CIOs to strategic partners, pushing them to take a more customer-centric view of tech implementation.

By Katie Malone • July 9, 2021

Chime customers file hundreds of CFPB complaints over locked accounts: report

In an attempt to root out fraud related to government-backed pandemic aid, the fintech may have inadvertently closed hundreds of legitimate customer accounts, ProPublica reported Tuesday.

By Anna Hrushka • July 7, 2021

Binance.US hires ex-leader of California's 'mini-CFPB'

Manny Alvarez, who left the state's Department of Financial Protection and Innovation last month, will oversee risk, compliance and legal under former Acting Comptroller Brian Brooks.

By Dan Ennis • July 7, 2021

Chime, Current lead US banking app downloads in first half of 2021: report

The top 10 digital-first banking apps in the U.S. recorded 16.33 million installs during the first half of 2021, according to a report that indicated European neobanks are lagging their U.S.-based competitors in market share gains.

By Anna Hrushka • July 6, 2021

Credit Suisse poaches tech, risk execs from Goldman Sachs

Weeks apart, Goldman loses a pair of 24-year veterans — David Wildermuth and Joanne Hannaford — who will become the Swiss bank's next chief risk officer and CTO/COO, respectively, early next year.

By Dan Ennis • Updated July 27, 2021

Fintech Karat aims to become influencers' bank, raises $26M

The company plans to move beyond credit cards and offer a suite of tools, including bank accounts and tax preparation services, for the creator economy.

By Anna Hrushka • July 2, 2021

Wealth management fintech gets boost from Florida community bank

A $2.5 million investment from Coral Gables-based Amerant Bank accounted for half of a Series A funding round for Marstone, whose CEO says the pandemic has accelerated every institution's digital roadmap.

By Anna Hrushka • June 30, 2021

Quarles: Fed-backed digital currency poses 'significant' risks, 'unclear' benefits

His comments Monday, in which he compares cryptocurrencies to parachute pants, show the central bank is far from unified on digital dollar development.

By Dan Ennis • June 29, 2021

JPMorgan Chase eyes 3rd fintech acquisition in the past year

The latest tie-up follows a busy year of deal activity for the U.S.'s largest bank, which is also eyeing growth opportunities in the U.K. and Brazil.

By Anna Hrushka • June 29, 2021

British regulator warns Binance to halt UK activity

Twitter, meanwhile, has seen complaints from Binance customers who said they were prevented from withdrawing pounds using the U.K.'s Faster Payments system.

By Dan Ennis • Updated July 9, 2021

Neobanks expand, add products for US immigrant market

Majority secured $19 million in seed funding to help it expand nationally. Remitly's Passbook debuted a series of new features. And Fair officially launched.

By Anna Hrushka • June 25, 2021

Citi launches digital assets unit, confirming crypto plans

The bank becomes the second U.S.-based SIFI, after State Street, to form a crypto-centered business this month — at a time when central banks are casting doubt over the tokens' volatility.

By Dan Ennis • June 25, 2021

BIS report shows growing divide on crypto

Central banks strike a second blow against digital tokens. Stablecoins, too, this time. The dissonance between market and government may come down to timing, or an age-old pattern concerning risk.

By Dan Ennis • June 24, 2021

Fifth Third to acquire healthcare fintech Provide

The Cincinnati bank follows another Ohio-based lender in tailoring its financial services to the healthcare industry. Cleveland-based KeyBank launched Laurel Road for Doctors in March.

By Anna Hrushka • June 23, 2021

Fiserv partners with NYDIG to offer Bitcoin services

The deal comes a month after NYDIG inked a Bitcoin services agreement with fellow payments processor FIS, and as big banks broaden their offerings surrounding cryptocurrency.

By Vaidik Trivedi • June 23, 2021

Goldman Sachs expands transaction banking services to UK

The bank said last year it wants to move more money around the world for large companies — a more stable revenue stream than trading. Goldman says its technology platform can open accounts in minutes instead of months.

By Dan Ennis • June 22, 2021

Discover makes a crypto move with new hire

With the hiring of a new manager for blockchain and digital currency, Discover Financial is planting a flag in the card company race to grab a share of money increasingly flowing through cryptocurrencies.

By Lynne Marek • June 22, 2021

3 keys to maximizing the digital banking customer journey

Customers want engaging, personalized digital service on their own schedule. 

June 21, 2021

Verizon targets Gen Z market with new digital banking app

For a $5.99 monthly fee, Family Money lets parents monitor and cap their children's spending, block certain spending categories and set up allowances.

By Anna Hrushka • June 18, 2021

Neobank Better Financial aims to cushion financial shocks for gig workers

The startup uses account holders' current payroll data and past payroll history to underwrite low-interest emergency loans.

By Anna Hrushka • June 17, 2021

American Express launches business checking accounts

The card network's subsidiary, Kabbage, rolled out a soft launch of the checking account product last summer, before AmEx acquired it.

By Anna Hrushka • June 15, 2021