Technology: Page 51
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Stock trading app Robinhood suffers system outage during market rebound
The outage came as the market rebounded from its worst week since the 2007-08 financial crisis, amid the coronavirus outbreak.
By Anna Hrushka • March 3, 2020 -
Banks mostly fear payments and money transfer fintechs, survey finds
Less of a concern among banks is competition from online investment and crowdfunding upstarts.
By Robert Freedman • March 3, 2020 -
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 -
Spike in fintech M&A shows industry is maturing
Fintechs are growing, accumulating users and establishing themselves in the financial services space. And it’s attracting attention.
By Anna Hrushka • Feb. 28, 2020 -
Fintech focuses on small businesses, ramping up competition with big banks
"The opportunity for SMB banking is large," CB Insights' Lindsay Davis said. "There are approximately 30 million small businesses in the United States."
By Kate Patrick Macri • Feb. 28, 2020 -
Challenger bank touts ties to employers as differentiator
Minneapolis-based Branch hired its first CFO as it seeks to grow its reach by taking a workplace-first approach.
By Robert Freedman • Feb. 27, 2020 -
National Park Service. (N/A). "First bank of the United States" [Photo]. Retrieved from https://www.nps.gov/inde/learn/historyculture/places-firstbank.htm.
Survey: More than half of consumers would try fintech over traditional banks
However, consumers are worried about data privacy and security and it remains up for debate whether traditional banks' branding could help or hurt the success of their fintech partnerships.
By Tatiana Walk-Morris • Feb. 27, 2020 -
Consumer data-sharing debate highlights bank, fintech divide
Screen scraping and APIs were among the topics discussed at the CFPB's symposium on Consumer Access to Financial Records on Wednesday.
By Anna Hrushka • Feb. 27, 2020 -
Banks closed 3,164 branches last year, opened 1,500
Expect branch consolidation to continue at about 2% a year even as bank deposits tick up at more than 4% a year, a report says.
By Robert Freedman • Feb. 25, 2020 -
Permission granted by LendingClub
Q&ALendingClub, Radius execs talk regulation, tech integration ahead of merger
In a wide-ranging interview, executives said they don’t foresee any pushback from regulators or any significant post-merger complications associated with integrating the two companies’ platforms or IT.
By Anna Hrushka • Feb. 24, 2020 -
JPMorgan Chase reportedly launching UK digital bank
JPMorgan would have its fair share of digital bank competitors in the U.K., including Monzo, Starling, Revolut, as well as fellow U.S. bank Goldman Sachs's Marcus.
By Anna Hrushka • Feb. 24, 2020 -
LendingClub's Radius deal paves the way for more fintech purchases, experts say
Industry experts say the deal could be a tipping point, ushering in more fintech-bank purchases. But it won't come without its complexities.
By Anna Hrushka • Feb. 21, 2020 -
JPMorgan Chase invests $75M to prepare youth for money-making careers
"[B]usinesses, government and communities must work together to prepare young people for the future of work," a company spokesperson said.
By Sheryl Estrada • Feb. 18, 2020 -
JPMorgan gives fintechs July deadline to sign new data access agreements
The move shows the nation's largest bank is following through on its plan to tighten security around customer data.
By Anna Hrushka • Feb. 14, 2020 -
Amazon, Google, Microsoft reportedly compete for Deutsche Bank's tech overhaul
The project comes amid a massive restructuring for the German lender. At least two of the banks' potential partners have worked to make inroads in banking.
By Dan Ennis • Feb. 11, 2020 -
Report: JPMorgan to merge blockchain unit Quorum with ConsenSys
JPMorgan Chase uses Quorum to power its blockchain-based Interbank Information Network, which aims to speed up cross-border transactions.
By Anna Hrushka • Feb. 11, 2020 -
4 Chinese military members charged in Equifax hack
The attackers exploited a vulnerability in software used by the credit bureau's online dispute portal and routed traffic through 34 servers in nearly 20 countries to mask their true location, the Justice Department said Monday.
By Dan Ennis • Feb. 10, 2020 -
Central banks most trusted digital currency source, survey finds
Tech companies rank lowest in trust, according to the report, which comes as Federal Reserve Gov. Lael Brainard indicates the U.S. central bank is deepening its exploration of a digital dollar.
By Dan Ennis • Feb. 10, 2020 -
'Stickiness' of Bask Bank's airline perk may help it spread, analyst says
Customers were finding interest rates uninteresting. So the Dallas bank sought a way to help them save for tomorrow, yet live for today.
By Anna Hrushka • Feb. 7, 2020 -
Competition intensifies in immigrant banking market
As the digital bank Majority expands nationwide, the remittance company Remitly launches Passbook, a bank aimed at first-generation Americans.
By Anna Hrushka • Feb. 4, 2020 -
Texas Capital Bank launches digital bank with American Airlines perks
In the current low-rate environment, the Dallas-based bank says it aims to attract customers that want more than a traditional savings account that only returns "pennies on the dollar."
By Anna Hrushka • Feb. 3, 2020 -
Expensify amps up charitable giving with 'Karma Points'
A San Francisco company's corporate card gives a slice of its swipe fees to organizations fighting homelessness, hunger and climate change, depending on the cardholder's spending.
By Kate Patrick Macri • Jan. 31, 2020 -
Permission granted by Truist
Truist seeks more time to reach $1.6B post-merger net savings goal
The nation's sixth-largest bank reported a 7% decrease in net income in its first earnings call after the merger of BB&T and SunTrust.
By Anna Hrushka • Jan. 31, 2020 -
JPMorgan Chase plans to cut hundreds of jobs in consumer division
Reductions at the nation's largest bank could indicate last year's trend is spilling over into 2020, as financial institutions pare their workforce to adapt to digital banking and global uncertainty.
By Anna Hrushka • Jan. 29, 2020 -
Zelle reports adding 100 financial institutions last quarter
Year-over-year payment values on the P2P platform increased by 57%, while transaction volume jumped 72%, network operator Early Warning Systems reported Tuesday.
By Anna Hrushka • Jan. 28, 2020 -
Opinion
Industry-led groups are only the 1st step to open banking
U.S. policymakers must make financial data sharing more fair and transparent if they want Americans to have the same access to fintech tools as other people, a Financial Data and Technology Association executive writes.
By Steve Boms • Jan. 27, 2020
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