Fintech disruption in the banking industry

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Note from the editor

Disruption in the banking sphere is coming from more directions than ever in 2021.

One of the six largest banks in the U.S. lost two executives to a major retailer's fintech spinoff that hasn't even launched.

A well-known fintech that had applied for a banking charter scrapped that plan and bought a community bank to hasten the process.

And an expanding roster of challengers are establishing themselves to benefit underserved groups — from Asian, Black and Brown communities to gig-economy workers. 

Banking Dive has published a number of pieces that lay out some of the challenges and successes disruptors are facing. We give you a look inside one long-term disruptor and its mission to keep evolving. We show you another fintech looking to make a trans-Atlantic leap. We detail how finding and serving a niche can safeguard disruptors and incumbents alike. And we profile a regulator's shifting attitude toward nonbanks, and how its rule framework could expand to touch a broader base of companies. 

We hope you find this collection valuable to better serve your customers' needs.

Dan Ennis Editor

Goldman loses 4 executives in 3 days as Walmart fintech poaches Marcus chief

• Published March 1, 2021 • Updated March 3, 2021

Niche banking could safeguard challengers, incumbents from big tech, retail threat

JPMorgan CEO Jamie Dimon called out Amazon, Apple, Facebook, Google and Walmart in a shareholder letter, saying, "Their strengths are extraordinary, with ubiquitous platforms and endless data."

• Published April 9, 2021

'We cannot stay still': Inside Green Dot's path to BaaS growth

The Pasadena, California-based company has made a name for itself as a financial services enabler for some of the nation's biggest brands. But competition in the space could create new headwinds.

• Published May 10, 2021

Raisin patents 'savings-as-a-service' technology as it moves on US market

The fintech was awarded a patent for technology enabling banks to offer a "liquidity time deposit" CD product that allows the depositor to plan a distribution schedule.

• Published Jan. 25, 2021

Neobank Lance targets gig economy's income volatility

The New York City-based challenger divides a user's payments into sub-accounts for salary, tax withholdings, business expense balance and a savings account.

• Published May 18, 2021

Challenger Cheese aims to fill banking gap in U.S.'s Asian, immigrant communities

The platform supports social causes by letting users donate to Asian- and immigrant-owned businesses, at-risk communities and charitable organizations with each purchase.

• Published March 10, 2021

Neobank Paybby to bring crypto investing to Black and Brown communities

"It's a great new investment class, and the people of our community should have access to this investment class just like anybody else," CEO Hassan Miah said.

• Published May 25, 2021

SoFi to buy community bank in $22.3M deal to speed charter

• Published March 9, 2021

Black-owned businesses leaned harder into fintechs on PPP, Fed data shows

• Published May 28, 2021

Fed strikes balance between openness, caution toward nonbanks

The central bank issues guidance for fintechs seeking a charter, while its chair advocates for expanding the CRA to encompass all lenders.

• Published May 6, 2021

Fintech disruption in the banking industry

Disruption in the banking sphere is coming from more directions than ever in 2021. One of the six largest banks in the U.S. lost two executives to a major retailer's fintech spinoff that hasn't even launched. In this trendline, dive into the latest wave of fintechs that are disrupting the banking industry.

included in this trendline
  • Goldman loses 4 executives in 3 days as Walmart fintech poaches Marcus chief
  • Neobank Lance targets gig economy's income volatility
  • 'We cannot stay still': Inside Green Dot's path to BaaS growth
Our Trendlines go deep on the biggest trends. These special reports, produced by our team of award-winning journalists, help business leaders understand how their industries are changing.
Davide Savenije Editor-in-Chief at Industry Dive.