Community banks must use personal connection to partner with small businesses

A trusted, local banker might come to the same decision as a more impersonal lender, but he or she will at least sit down with you and discuss options before doing so, writes Patrick Sobers, executive vice president at NBH Bank.

By Patrick Sobers • Oct. 9, 2019

Tether, Bitfinex sued in alleged pop of $265B crypto market bubble

The companies anticipated "mercenary" legal action based on a paper they say used "flawed assumptions, incomplete and cherry-picked data, and faulty methodology."

By Dan Ennis • Oct. 8, 2019

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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

Brex streamlines business payments across credit card, ACH, wire services

The fintech unicorn looks to equip businesses to pay invoices and bill customers in one system while earning rewards points redeemable for cash back, travel and air miles.

By Jane Thier and Dan Ennis • Oct. 7, 2019

Square opens digital payments platform to more CBD businesses

The San Francisco-based payment processor's move comes more than four months after it rolled out an invite-only pilot program.

By Anna Hrushka • Oct. 4, 2019

Tech to take over 200K banking jobs in next decade, Wells Fargo says

Back office, branch, call center and corporate employees can expect a 20% to 33% workforce reduction, with lesser impact on tech, sales, advising and consulting jobs, the bank's analysts wrote.

By Dan Ennis and Naomi Eide • Oct. 4, 2019

House lawmakers urge Fed to launch digital dollar pilot

The central bank would harm the government's ability to enforce anti-money laundering rules if private companies continue to lead the charge on digital currency development, two congressmen wrote.

By Dan Ennis • Oct. 3, 2019

PayPal withdraws from Facebook's Libra crypto project

Lawmakers may seek additional congressional hearings to press the company for details on why it walked away, research firm Cowen said.

By Dan Ennis • Updated Oct. 8, 2019

Community banks won't survive without tech innovation, FDIC chair says

The agency's Tech Lab aims to collaborate with smaller financial institutions on how to deploy technology to better serve customers.

By Anna Hrushka • Oct. 2, 2019

Fintech Revolut leans in to Visa, away from Mastercard in market expansion

The U.K.-based digital bank is using the Visa deal to expand into 24 new markets. But it's launching in the U.S. this year with Mastercard.

By Dan Ennis • Oct. 1, 2019

AI in anti-money laundering isn't just compliance, it's good business

A reduction in automated false positive alerts means anti-money laundering investigators can spend more time working to catch criminals.

By Tim Mueller • Oct. 1, 2019

Zelle not worried about market saturation

The platform's growth in payments and transactions tapered off slightly, but an executive said there's still plenty of room to expand.

By Anna Hrushka • Sept. 30, 2019

Former 'Robin Hood' payments company TransferWise dips toe in US banking market

The company's employees once ran through New York City's streets in their underwear to show they had "nothing to hide" in a jab against banks' fees. Now it's partnering with a credit union and a neobank for small businesses.

By Dan Ennis • Sept. 27, 2019

JPMorgan's $25M investment aims to connect underbanked with fintech resources

The bank continues its commitment to the Financial Health Network and unveils a Harlem branch that will feature a digital innovation lab and host collaborations with Google to boost customers' digital exposure.

By Dan Ennis • Sept. 27, 2019

Fintech lenders have doubled their market share in 4 years

An Experian study found fintechs have opened twice as many loans in that time frame — 1.3 million new loan originations as of March, compared with 656,000 four years earlier.

By Dan Ennis • Sept. 26, 2019

Credit unions target growth with bank, fintech mergers

The not-for-profit financial institutions have acquired more than 20 U.S. banks since 2018, according to S&P Global — a steep jump over the 12 such takeovers in the previous five years.

By Anna Hrushka • Sept. 25, 2019

Kabbage founders aim to connect small businesses, gig influencers

Drum has the potential to serve as a pipeline for startups to which Kabbage could lend.

By Dan Ennis • Sept. 24, 2019

Big banks make outsized gains on deposits, millennial customer satisfaction

Fast adoption of technology may be helping to sway customers under 40 toward big banks despite reputational shortcomings. 

By Dan Ennis • Sept. 23, 2019

JPMorgan Chase grows blockchain network to more than 340 banks

The nation's largest financial institution launched the program in 2017 to minimize friction in cross-border transactions.

By Anna Hrushka • Sept. 23, 2019

Wells Fargo, Plaid ink data-sharing deal

Bank executives see the agreement as crucial to the development of its Control Tower feature, which customers can use to see all of the third parties with which their data is being shared.

By Dan Ennis • Sept. 19, 2019

Banks stand to lose $280B in payments revenue to fintechs, report says

"Banks are feeling the heat from new competition and seeing their margins squeezed," Gareth Wilson, Accenture's global payments lead, said in a statement.

By Anna Hrushka • Sept. 18, 2019

Wells Fargo tests blockchain waters with internal settlement service

Wells Fargo's renewed interest in blockchain comes at a time when banks are still gauging the technology's benefits.

By Anna Hrushka • Sept. 17, 2019

Blockchain adoption will remain elusive for financial services industry until 2022, Gartner says

Immature, fragmented standards will prevent blockchain from fully entering the financial services realm in the near term.

By Roberto Torres • Sept. 16, 2019

10 lessons Fannie Mae learned redesigning its security network

The lending company experienced minor hiccups while building out micro-segmentation.

By Samantha Schwartz • Sept. 16, 2019

Breach isn't pulling Capital One off its cloud course

Executives continue to cite the "all-in" mantra after the bank saw millions of customers' data exposed this year.

By Dan Ennis • Sept. 11, 2019

Stripe rolls out credit card for corporate clients

The launch comes just a week after the company announced it would offer lending through Stripe Capital.

By Anna Hrushka • Sept. 11, 2019