Technology: Page 42
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Permission granted by Quontic Bank
How Quontic Bank adapts to crypto, remote work and wearable tech
Since purchasing the institution in 2009, CEO Steven Schnall, an entrepreneur and former mortgage banker, has been molding the bank to reflect his vision.
By Anna Hrushka • April 30, 2021 -
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First Horizon breach highlights rising cyber threats against banks
The compromise affected fewer than 200 online accounts for a loss of less than $1 million. But three-quarters of financial institutions saw a rise in cybercrime in the year after March 2020, according to a BAE Systems report.
By David Jones • April 29, 2021 -
Explore the Trendline➔
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TrendlineThe 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 -
Permission granted by Current
Neobank Current adds crypto to product roadmap after $220M funding boost
"There is a need and a demand for a company like Current to explain and shepherd people into this new world," CEO Stuart Sopp said.
By Anna Hrushka • April 28, 2021 -
Oli Scarff via Getty Images
Barclays US to offer merchants buy-now-pay-later feature
"We plan to use this to supercharge our growth and give our partners and our customers more options to buy stuff with," said Barclays US CEO Denny Nealon.
By Anna Hrushka • April 27, 2021 -
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Sponsored by LogMeInWhat now? 3 steps for taking a post-COVID approach to FSI customer engagement
Learn 3 steps to accelerate digital-first customer engagement in the post pandemic world.
April 26, 2021 -
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Crypto exchange Binance hires ex-OCC chief Brooks as US CEO
Hiring an executive with intimate knowledge of U.S. regulations presumably would help the exchange, initially based in China, expand its stateside operations without raising red flags.
By Dan Ennis • April 20, 2021 -
Anna Hrushka/Banking Dive
Deep DivePolicy questions remain as global governments explore CBDCs
Bank Policy Institute's chief examines the impact and drawbacks of various models of digital coin as the Fed and other countries forge ahead.
By Anna Hrushka • April 19, 2021 -
Chris Hondros via Getty Images
JPMorgan Chase reports $14.3B profit, boosted by $5.2B reserve release
During a call with analysts, CEO Jamie Dimon teased several upcoming features, including personalized apps, robo investing and global wallets, as the bank tries to keep pace with fintech innovations.
By Anna Hrushka • April 14, 2021 -
With neobank purchase, Avant mirrors SoFi's path
Buying Level gives Avant direct access to customers' account information, allowing it to look at people's cash flow, spending, bill pay — data points for which Avant currently pays an aggregator.
By Dan Ennis • April 13, 2021 -
Courtesy of https://corporate.walmart.com/photos/walmart-store-exterior-at-night
Niche banking could safeguard challengers, incumbents from big tech, retail threat
In his annual shareholder letter, JPMorgan CEO Jamie Dimon said the strengths of Amazon, Apple, Facebook, Google and Walmart are "extraordinary, with ubiquitous platforms and endless data."
By Anna Hrushka • April 9, 2021 -
State Street leans ever so slightly into crypto
Through a partnership with U.K.-based Pure Digital, the infrastructure the bank’s Currenex unit uses in foreign exchange will be transposed to the crypto space for a trading platform set to launch in mid-2021.
By Dan Ennis • April 9, 2021 -
Permission granted by Fair
Membership-based neobank Fair would target immigrants, unbanked
Houston entrepreneur Khalid Parekh, who founded the tech firm Amsys Group, said the platform's portfolio of services will help differentiate it from neobanks already serving the space.
By Anna Hrushka • April 8, 2021 -
Courtesy of https://corporate.walmart.com/photos/walmart-store-exterior-at-night
Walmart's trademark filing may offer clues to fintech startup
The litany of services "Hazel by Walmart" intends to provide ranges from credit and debit card payment processing services to financial portfolio analysis, credit repair and restoration and virtual currency transaction processing.
By Dan Ennis • April 8, 2021 -
Anna Hrushka/Banking Dive
Chance for early feedback spurs banks to join FedNow pilot program
More than 110 organizations are participating in the real-time payment effort, which is still slated for a 2023 debut.
By Anna Hrushka • April 6, 2021 -
Permission granted by SoFi
SoFi to offer auto loan refinancing through MotoRefi partnership
The deal with the Arlington, Virginia-based startup represents the latest product expansion by SoFi as it continues its push to become more than a student loan fintech.
By Anna Hrushka • April 5, 2021 -
Robinhood axes its signature celebratory confetti displays
"If the focus of a conversation is around confetti and not around these people taking these first steps … then we've done something that's just off base," the company's senior director of product management said.
By Dan Ennis • March 31, 2021 -
Courtesy of KeyBank
KeyBank's digital bank for doctors gets national launch
The bank expects to add checking and retail investments to the platform this year, and to expand digital banking services to a market that includes pharmacists, physician assistants, nurses and therapists.
By Anna Hrushka • March 30, 2021 -
Permission granted by Greenwood Financial
Greenwood raises $40M in funding with investments from 6 major banks
Led by Truist Ventures, the digital bank's funding round includes investments from JPMorgan Chase, Bank of America, Wells Fargo and PNC, in addition to payments giants Mastercard and Visa.
By Anna Hrushka • March 25, 2021 -
Permission granted by Novo
Novo expands products, welcomes surge in users from Azlo
Novo said it gained 20,000 former Azlo customers in the 2½ months since Spanish lender BBVA said it planned to shutter the entrepreneur-focused startup.
By Anna Hrushka • March 23, 2021 -
Anna Hrushka/Banking Dive
Powell reiterates 'no-rush' stance on Fed's digital dollar
Powell insists on Congress's approval before proceeding with a CBDC, but researchers are hoping to unveil prototypes as early as July. Meanwhile, the Senate's new banking panel chair is calling for faster action.
By Dan Ennis • March 23, 2021 -
Permission granted by Stripe
Stripe faces building pressure for a go-public strategy
Stripe's Irish co-founder brothers will be balancing the views of management, investors and bankers in deciding the best path to fund the company's future.
By Lynne Marek • March 22, 2021 -
Courtesy of Coinbase
Coinbase settles CFTC 'wash trading' probe for $6.5M
The settlement comes as the cryptocurrency exchange is delaying until next month its hotly anticipated IPO, but a CFTC commissioner said the enforcement action is a poor reflection of the regulator's priorities.
By Dan Ennis • March 22, 2021 -
Digital bank for immigrants opens meet-up space in Miami
It's not typical for a digital bank to open a physical location in an effort to connect with customers, but Majority's CEO said it's important to have a presence in the communities they serve.
By Anna Hrushka • March 18, 2021 -
ColumnCrypto, ESG and office returns: Banks show when they would — and would not — rather be first
As Morgan Stanley and BNY Mellon look to one-up each other on digital assets, JPMorgan and Bank of America find themselves in opposing camps over how they will host summer internships.
By Dan Ennis • March 18, 2021 -
How U.S. Bank tripled its digital account openings
"It was taking customers 10 minutes to get through this application, and that's just way too long," said Jonathan Burns, the bank's senior vice president and head of digital sales experience.
By Anna Hrushka • March 17, 2021
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