More than half of US consumers paying contactless, Mastercard finds

Banks such as HSBC, JPMorgan Chase and Bank of America have ramped up their efforts to push consumers toward tap-and-go technology. The coronavirus may prove the catalyst for behavioral shift.

By Dan Ennis • April 30, 2020

Credit union trade group questions PPP's batch processing system

The 5,000 minimum required to submit loans in batches is too high to benefit smaller lenders like credit unions, CUNA Chief Advocacy Officer Ryan Donovan told Banking Dive.

By Anna Hrushka • April 29, 2020

Explore the Trendline➔

Fintech disruption in the banking industry

There are as many schools of thought on how to disrupt the banking space as there are disruptors.

By Banking Dive staff

Day 1 of PPP's Round 2 didn't bring the refresh bankers wanted

Technical glitches and overwhelming demand again took down the SBA's loan processing system, as lenders ponder all-nighters, equality and copious screen-checking.

By Dan Ennis • April 28, 2020

COVID-19: How to empower financial services with four steps for a seamless CX across channels

The crisis has disrupted the way customers access financial services. Harness organizational agility to future-proof your operations with these crucial steps.

By Nicole Lawler, Manager of Customer Experience Technologies at LogMeIn • April 28, 2020

Lenders get 2nd chance to correct PPP flaws

Despite some negative press, the first rollout of the SBA program has let some banks prove they can help their customers even in the worst of times, said David Zaring, a Wharton professor of legal studies and business ethics.

By Anna Hrushka • April 27, 2020

Spreadsheets costing mortgage providers more than they realize

IT leaders discover a cost-effective way to take full advantage of automating back-office processes.

April 27, 2020

Monzo applies for US banking license

The British digital bank, which is furloughing up to 295 U.K. employees and closing a Las Vegas office, told the OCC it expects most of the disruption from the coronavirus pandemic to have subsided by its launch date.

By Anna Hrushka • April 23, 2020

Mastercard turns brand-building effort toward streaming as consumers stay home

"The brand has to be visible. We cannot go dark," Chief Marketing Officer Raja Rajamannar said. "But the time is not to sell, this is a time to serve."

By Peter Adams • April 23, 2020

Moven's lean toward B2B was part reach, part mission, CEO says

"Part of our original vision ... was to improve the lives of tens of millions of consumers, so that becomes a more critical imperative for us ... versus what type of a business model we have," Moven CEO Marek Forysiak said.

By Kate Patrick Macri • April 23, 2020

$60B carveout for small lenders doesn't solve PPP's problems, fintech exec says

The set-aside should have taken into account the size of loan, not the bank, Funding Circle's Ryan Metcalf told Banking Dive.

By Anna Hrushka • April 23, 2020

Betterment launches checking, savings accounts

The robo-adviser has seen signups grow, even in the worst weeks of the coronavirus pandemic, CEO Jon Stein said.

By Anna Hrushka • April 22, 2020

'Hours matter' as fintechs angle for new wave of PPP money

Nonbank lenders are better positioned this time, but the new infusion may last only a couple days, a trade group leader says.

By Anna Hrushka • April 21, 2020

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

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