Chime outage keeps customers from accessing cash

Galileo, the platform that powers Chime, told Banking Dive it is working to restore Chime's mobile app, "which is currently unavailable or slow to respond." Chime's card services have since been restored.

By Anna Hrushka • Oct. 17, 2019

Bank of America prioritized internal cloud. Now it's evaluating third-party providers

"We don't need to own the hardware, we just need to find out who can provide the right way," said CEO Brian Moynihan.

By Naomi Eide • Oct. 17, 2019

Explore the Trendline➔

Artificial intelligence

Banks’ focus on AI has shifted from a “cool-toys” mentality to one that sees the technology as a foundational pillar underlying finance and society itself.

By Banking Dive staff

JPMorgan Chase jumps to record revenue on consumer banking gains

Profit for the bank’s consumer unit, which includes home loans, auto loans and consumer credit cards, rose 5% to $4.27 billion.

By Anna Hrushka • Oct. 15, 2019

Most Americans still have reservations on going cashless, survey finds

Emergencies were the No. 1 reason respondents said they carry cash (60%), followed by small purchases (50%), tips (42%) and to manage their finances (20%), the J.D. Power report found.

By Anna Hrushka • Oct. 14, 2019

SEC can't force Telegram to reveal its bank records, judge rules

The encrypted messaging app won't have to reveal how it spent $1.7 billion, but it must prove by Thursday that it complies with foreign data privacy laws.

By Robert Freedman • Updated Jan. 8, 2020

EBay, Stripe, Mastercard, Visa drop out of Facebook's Libra crypto project

The departures leave a dearth of payment companies backing the currency. Representatives of the 21 remaining firms signed the Libra Association's charter in Geneva.

By Anna Hrushka • Updated Oct. 14, 2019

Crypto firm hired actors to pose as Comerica, Mastercard execs, bank says

Comerica said its legal team is aggressively pursuing the takedown of web pages linking the bank with the Asian firm VRB.

By Dan Ennis • Oct. 10, 2019

Senators warn Visa, Mastercard and Stripe of risks with Facebook's Libra

The social media giant "has not provided a clear plan for how it will prevent Libra from facilitating criminal and terrorist financing" or "destabilizing the global financial system," the lawmakers wrote.

By Dan Ennis • Oct. 10, 2019

Robinhood launches high-yield cash management account after failed attempt last year

The company's first cash account endeavor was halted after it neglected to notify regulators ahead of the launch.

By Anna Hrushka • Oct. 9, 2019

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

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