OCC's Brooks defends special-purpose charters amid growing 'unbundling'

"Unbundling is not going away," the acting comptroller said Tuesday at a LendIt Fintech conference. "Customers want what they want. The question is, is our platform flexible enough to accommodate that? And I think it has to be."

By Anna Hrushka • Sept. 30, 2020

Solving payments and card challenges with a platform approach

Help bank employees access the information they need in real time to answer customers' questions.

Sept. 30, 2020

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

Azlo launches subscription-based banking service

The account is the main thrust of revenue diversification the challenger bank is introducing this year, CEO Cameron Peake said.

By Anna Hrushka • Sept. 29, 2020

Wells Fargo, Envestnet Yodlee sign data-sharing agreement

With the deal — the bank's 17th with a data aggregator — about 99% of the lender's third-party financial app screen scraping will be transitioning to API-based access.

By Dan Ennis • Sept. 25, 2020

How Citi's innovation lab is tackling COVID-19 challenges

The unit, for example, built a digital whiteboarding solution to help job candidates and managers interact through an on-screen notebook when interviews can't take place face to face.

By Anna Hrushka • Sept. 23, 2020

At $14.5B, Chime surpasses Robinhood as top-valued fintech

The challenger bank has more than tripled its transaction volume and revenue this year and is adding hundreds of thousands of accounts each month, CEO Chris Britt told CNBC.

By Dan Ennis • Sept. 21, 2020

Neobank Unifimoney partners with DriveWealth to offer investing services

The San Francisco-based startup, which describes itself as a neobank for affluent millennials, is the latest fintech to use automation to help customers save and invest money.

By Anna Hrushka • Sept. 16, 2020

Pandemic accelerated KeyBank's digital shift by 5 years, CEO says

The executive didn't give a target number of branches the Cleveland-based bank aims to close, but said customers' embrace of digital channels allows an "opportunity to ramp up" the transformation to a "more impactful" footprint.

By Dan Ennis • Sept. 15, 2020

Citi resumes job cuts, faces regulator reprimand over risk management

The prospect of the multiyear system revamp prompted CEO Michael Corbat to push up his plans to retire so his successor could see the effort through from the beginning.

By Dan Ennis • Sept. 15, 2020

Connect bank operations from front to back

It's an approach that has grown organically out of the unique needs of financial services companies.

Sept. 15, 2020

Fintech Jiko gains national charter by buying Minnesota community bank

"Without a license, we would be just another fintech amongst many others," founder and former Goldman Sachs trader Stephane Lintner said. "We decided to buy a bank because it felt better for us, given what we wanted to do."

By Anna Hrushka • Sept. 4, 2020

Stash sees sign-ups, deposits swell as customers shift into 'save' mode

The personal-finance fintech looks to build a digital community around its investing roots, arranging weekly fractional-share giveaways.

By Suman Bhattacharyya • Sept. 4, 2020

Wealthfront launches automatic savings, investment feature

The California-based fintech, which got its start as a robo-adviser, has been pushing into banking since launching a cash account in February 2019.

By Anna Hrushka • Sept. 3, 2020

Inside Northern Trust's $2.5B tech investment

"We see a huge amount of fairly inefficient [processes], especially when you compare it to our personal lives where we are logging into apps and moving money instantaneously," said one exec. "We get about 20,000 faxes a month on trade instructions."

By Suman Bhattacharyya • Sept. 2, 2020

How MoCaFi brings banking to Black and Brown communities

"I had my 'George Floyd' moment," CEO Wole Coaxum said of Michael Brown's death in 2014. "I was one of the most senior African Americans at JPMorgan and felt that I wanted to be a part of a national conversation to address the lack of access to financial services products."

By Anna Hrushka • Sept. 1, 2020

ConsenSys acquires JPMorgan blockchain platform Quorum

The nation's largest bank reportedly had been considering spinning off Quorum for two years. A ConsenSys exec said the platform might more easily attract a wider range of financial institutions as users if it's not owned by a bank.

By Dan Ennis • Aug. 26, 2020

Citi cites human error in accidental $900M transfer

A Citi employee, manually adjusting the payment amount on a disputed loan, selected an option allowing the loan to be paid in full with interest years ahead of schedule. Colleagues acting as a safeguard failed to catch the error.

By Dan Ennis • Aug. 26, 2020

How end-to-end innovation builds customer trust and employee satisfaction

The banks that help customers navigate the financial stresses brought on by COVID-19 have the opportunity to position themselves as an indispensable long-term partner.

Aug. 25, 2020

JPMorgan Chase reportedly eyes 2021 launch for UK digital bank

The launch would put the largest U.S. bank in a position to capitalize on the growth of digital services amid the coronavirus pandemic.

By Anna Hrushka • Aug. 24, 2020

Betterment spearheads coalition aimed at diversifying fintech

"The goal here is to see continual progress. ... We know that there's a lot of work to do and we've got to do better," said Joe Ziemer, the company's vice president of communications.

By Anna Hrushka • Aug. 21, 2020

Santander fixes ATM glitch that allowed scammers to overdraw prepaid debit cards

Police arrested more than 100 people this week in New Jersey, New York and Connecticut after someone posted a video on social media detailing how to exploit the flaw.

By Dan Ennis • Aug. 20, 2020

Why Google's checking accounts appeal to midsize institutions

The tech giant's co-branded accounts give smaller players a chance to leverage tech and branding to scale business away from the larger banks, experts say.

By Anna Hrushka • Aug. 18, 2020

What is slowing banks' digital transformation?

Lightico CEO Zviki Ben Ishay provides a look at some of the obstacles banks face, including organizational resistance, scalability issues, legacy IT systems and fears about compliance.

By Zviki Ben Ishay • Aug. 17, 2020

Fed researches 'hypothetical' central bank digital currency

The introduction of bitcoin and other stablecoins such as Facebook's Libra have raised fundamental questions about legal and regulatory safeguards and the role of currency in society, Fed Gov. Lael Brainard said.

By Anna Hrushka • Aug. 17, 2020

OCC chief expects SWIFT-like bank-to-blockchain connections in 3 to 5 years

Acting Comptroller Brian Brooks touted stablecoin's cost and speed advantages in a podcast interview Thursday while knocking the Fed's preference for government-owned payment rails.

By Ted Knutson • Aug. 14, 2020