Banks prioritize technology to deliver during coronavirus crisis

At a time when human-to-human contact presents a risk, automation is seeming less like a disruption, writes Octavio Marquez, senior vice president and managing director, Banking Americas, at Diebold Nixdorf.

By Octavio Marquez • April 20, 2020

Challenger bank Moven endorses Varo ahead of account closures

Moven began notifying its customers last month that it would close its consumer banking accounts April 30. The fintech had planned to spin off its digital bank, but the coronavirus crisis put a dent in the project's funding.

By Anna Hrushka • April 17, 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

Houston de novo Agility eyes a female front office and a tech focus

"It became clear that we needed to set an example and provide opportunities for women to be at the level they deserve to be at," CEO Lauren Sparks told Banking Dive.

By Hillary Richard • April 17, 2020

Digital bank Current flexes quick delivery of coronavirus relief checks

About 45% of the stimulus money that's been issued to Current's customers has already been spent — mostly on essential items, such as gas and groceries​, said Adam Hadi, the company's vice president of marketing.

By Anna Hrushka • April 15, 2020

PayPal, Square, Intuit approved to participate in coronavirus relief program

The ability to provide the loans is a major step for fintechs, which have been lobbying Congress for weeks for the opportunity to assist in the program.

By Anna Hrushka • April 13, 2020

Upgrade accelerates launch of contactless card amid COVID-19 pandemic

"Going contactless in this environment, if there's ever been a time to do so, that's now," the challenger bank's co-founder and CEO, Renaud Laplanche, ​told Banking Dive.

By Anna Hrushka • April 9, 2020

Personal finance startup SoFi to acquire payments platform Galileo for $1.2B

Because many of Galileo's clients are SoFi competitors, the deal could raise conflict-of-interest questions, one expert says.

By Anna Hrushka • April 8, 2020

Microsoft, Plaid team up to roll out personal finance app

The deal would give Office 365's 38 million users exposure to Plaid, which already serves 11,000 institutions. It also marks a re-entry into financial services for Microsoft after a decade-long absence.

By Dan Ennis • April 2, 2020

New technology transforming the mortgage lending experience

Discover how leaders in the financial services arena are succeeding in driving digital transformation across their organization using low-code platforms.

April 1, 2020

Banks, fintechs prepare for flood of SBA loan applications

As small businesses across the country shutter amid the pandemic, many fintech lenders are concerned traditional lenders won't be able to process loans quickly enough to get business owners the cash they need.

By Anna Hrushka • March 31, 2020

Fintech lenders find an opening in $2T coronavirus relief package

"The language does include opportunity for fintechs to support, but it's now up to the Treasury to finalize the definition," said Kabbage's Sam Taussig. "This is not the time to debate the definition of a bank."

By Anna Hrushka • March 26, 2020

British challenger bank Revolut launches in US

The fintech, launched in 2015, could face unique challenges as it expands to a new market at a time of economic uncertainty amid the coronavirus pandemic.

By Anna Hrushka • March 25, 2020

Rakuten resubmits FDIC application

The Japanese e-commerce company withdrew its paperwork in March, with the intention to refile. Rakuten is "confident that the revised application is stronger and is responsive to the FDIC’s feedback," a company spokesperson said.

By Dan Ennis • Updated June 1, 2020

How Grasshopper Bank supports clients during COVID-19 pandemic

For the digital bank, which caters to the entrepreneur and venture capital market, the virus has created an environment where its clients rely on tailored offerings to navigate the crisis.

By Anna Hrushka • March 24, 2020

Kabbage asks Congress to retool SBA's lending rules amid coronavirus crisis

The online lender wants private-sector partners to help the agency with its disaster loan program as it faces a potential flood of small businesses in need of cash.

By Anna Hrushka • March 20, 2020

FDIC approves ILC charters for Square, Nelnet

The recent approvals are bound to usher in more scrutiny from the banking establishment, which has called the industrial loan company model's lack of oversight a consumer safety issue.

By Anna Hrushka • March 19, 2020

Banks need to push digital offerings during COVID-19 pandemic, experts say

"As we saw in the last recession, if you take the pedal off, you can wake up in a couple of years and have a lot of fintechs nibbling away at your business," said John Stockamp, director in West Monroe's financial services practice.​

By Anna Hrushka • March 18, 2020

Former PayPal, Intuit CEO launches digital bank targeting middle-class families

Bill Harris said the San Francisco-based startup will serve a demographic that hasn't had its needs adequately met by traditional banks or the current fintech offerings that are available in the market.

By Anna Hrushka • March 17, 2020

FDIC to issue proposed rulemaking on ILCs at next board meeting

While the FDIC has not approved an ILC applicant in more than a decade, Square Capital and Japanese e-commerce company Rakuten have pending applications with the FDIC.

By Anna Hrushka • March 13, 2020

Aion CEO: Global uncertainty works in favor of subscription-based digital bank

The subscription model creates a relationship that helps build a sense of stability for consumers looking for a banking partner.  

By Robert Freedman • March 13, 2020

Report: Banks risk 5% loss in revenue to fintechs if they don't change

Banks' use of hidden fees that leverage consumers' money mismanagement is hurting them on trust, but they have an opportunity to change that, an Accenture report finds.

By Robert Freedman • March 11, 2020

Robinhood trading app experiences 3rd outage in 8 days as stocks plunge

It’s been a rough week for Robinhood and its users as the platform’s recent outages coincide with historic trading days.

By Anna Hrushka • Updated March 27, 2020

Banks engage in self-hacks to keep defenses sharp

Enlisting teams of hackers to look for vulnerabilities helps banks take their security efforts beyond scanning software.

By Robert Freedman • March 9, 2020

Remitly banks on trust as it expands financial services for immigrants

"We have a track record in the communities we serve where we built a really trusted financial services brand," Remitly co-founder and CEO Matt Oppenheimer said. 

By Anna Hrushka • March 6, 2020

Coronavirus could hit fintechs hard as card transactions drop

Fintechs’ reliance on the fees merchants pay when consumers make credit and debit purchases will be tested as people stay home. 

By Robert Freedman • March 4, 2020