Fintech


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    Anna Hrushka/Banking Dive
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    Tennessee bank hit with FDIC consent order over BaaS business

    Under the consent order, Lineage Bank must implement an enhanced risk management program overseen by its board of directors, increase capital levels, and let go of some fintech partners.

    By Feb. 28, 2024
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    nathaphat via Getty Images
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    Smaller credit unions face hurdles despite NCUA’s fintech rule

    The financial innovation rule may open the door to more partnerships, but larger institutions still have advantages on tech, budget and risk management, experts say.

    By Ken McCarthy • Feb. 28, 2024
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    Courtesy of The Howard Hughes Corp.
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    Trendline

    Top 5 stories from Banking Dive

    Banks brace to see if commercial real estate exposure will trigger a rerun of last year’s crisis. And regulators face a mountain of comments from the most contentious proposed rule in decades.

    By Banking Dive staff
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    Courtesy of Green Dot
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    Green Dot faces Fed’s proposed consent order

    The digital bank set aside $20 million to cover a potential penalty stemming from compliance risk management issues predating the company’s current management.

    By Feb. 28, 2024
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    Treasury Prime has laid off half its staff

    The banking-as-a-service platform is shedding its fintech-bank liaison duties — and about 40 to 50 employees — to focus exclusively on providing software to banks.

    By Feb. 28, 2024
  • Chime to pay California regulator $2.5M over customer service flaws

    The agency investigated accuracy and responsiveness to customer complaints. The consent order offered few details but the time frame aligns with COVID-era account closures.

    By Feb. 28, 2024
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    sefa ozel via Getty Images
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    AI could spark change in the SMB lending space

    Financial institutions, including fintechs, can leverage artificial intelligence technology like machine learning to automate lending decisions, a white paper commissioned by Uplinq said.

    By Feb. 21, 2024
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    Neon Money Club launches dating app for those with good credit

    Score, which is only available for those with a score of 675 or better, highlights the importance of discussing finances in relationships — even in new ones.

    By Feb. 21, 2024
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    Chip Somodevilla via Getty Images
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    Cross-border payments remain focus for Fed

    Tools that “automate processes, reduce costs and promote effective safeguards across jurisdictions” may help improve cross-border payments, a Federal Reserve official said last week.

    By Lynne Marek • Feb. 20, 2024
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    PayPal invests in AI startup Rasa

    The investment is the first that the digital payments pioneer is making from its new artificial intelligence venture fund.

    By Tatiana Walk-Morris • Feb. 20, 2024
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    Viva Wallet CEO sues JPMorgan, claiming bank is limiting growth

    Haris Karonis alleges JPMorgan, which owns 48.5% of Viva, is seizing on "perverse incentives" that allow the bank to take full control of the fintech if its value falls below €5 billion next year.

    By Feb. 15, 2024
  • Plaid names Cloudflare vet as its first president ahead of ‘eventual’ IPO

    The fintech's hiring of Jen Taylor, Cloudflare's ex-chief product officer, comes months after Plaid appointed its first CFO and named another executive as head of Europe.

    By Feb. 14, 2024
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    Anna Hrushka/Banking Dive
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    Q&A

    Adyen eyes growth in North America

    Davi Strazza, North America president at Adyen, pointed to the Dutch processor’s single technology platform as setting it apart in a crowded field of payments players.

    By Caitlin Mullen • Feb. 14, 2024
  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Mario Tama via Getty Images
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    Citi moves deeper into e-commerce through digital couponing

    The bank recently launched a browser extension that searches for coupons on merchant checkout pages, suggests applicable codes and can activate cash-back offers.

    By Feb. 12, 2024
  • Bunq CEO Ali Niknam stands in front of Bunq's logo.
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    Courtesy of https://press.bunq.com/media_kits/228411/
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    Dutch neobank Bunq withdraws application for US banking charter

    Bunq is the latest in a line of European neobanks to back out of pursuing a U.S. banking charter, though it stated plans to reapply, American Banker reported. 

    By Feb. 8, 2024
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    Aeropay partners with Cross River, UBank on gaming payouts

    A record 67.8 million people are expected to place bets on this year’s Super Bowl, the American Gaming Association said Tuesday. Aeropay aims to get winnings paid out as fast as possible.

    By Feb. 7, 2024
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    MoneyLion, EY partner to co-build ‘turnkey’ solutions for banks

    The partnership will help to drive deposits for mid-sized banks and help diversify their existing revenue streams by implementing comprehensive digital marketplaces inside their ecosystems.

    By Feb. 7, 2024
  • Officials and employees celebrate the grand opening of Fiserv's Berkeley Heights, New Jersey office on Nov. 15.
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    Fiserv CEO details special bank charter pursuit

    The processing and acquiring company, which seeks a “very specific” special bank charter, doesn’t intend to compete with its financial institution partners, Fiserv CEO Frank Bisignano said Tuesday.

    By Caitlin Mullen • Feb. 7, 2024
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    Courtesy of Peterbilt
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    Fleet fintech ditches Visa for Mastercard

    Fuel card startup AtoB, with $112 million in financial backing, plans to take on dominant fleet service rivals Wex and Fleetcor.

    By Lynne Marek • Feb. 6, 2024
  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    Republican lawmakers raise concerns over FDITech

    “[D]uring your tenure, the FDIC has moved innovation backwards,” the GOP lawmakers noted in the letter to the Federal Deposit Insurance Corp. Chair Martin Gruenberg. 

    By Feb. 5, 2024
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    Just_Super via Getty Images
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    Genesis Global settles SEC suit for $21M

    The settlement will, among other things, "eliminate the risks, expenses, and uncertainty associated with protracted litigation against the SEC."

    By Feb. 2, 2024
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    David Ryder via Getty Images
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    SellersFi, Amazon team up to offer up to $10M in credit lines

    The SellersFi credit lines are offered through Citi, which, with asset manager Fasanara Capital, led a $300 million credit facility for the company.

    By Jan. 31, 2024
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    Plenty aims to help couples build wealth together

    Emily Luk and Channing Allen fell in love while working together at a fintech startup. Now, they want to help other couples manage and grow their money.

    By Jan. 31, 2024
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    hapabapa via Getty Images
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    Nasdaq to cut jobs to streamline operations: report

    The second-largest U.S. stock exchange is planning to cut its workforce as it integrates software provider Adenza into its business to improve efficiency, Bloomberg reported.

    By Jan. 31, 2024
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    ultramarine5 via Getty Images
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    The banking industry outlook on 2024: The year of wait-and-see

    A capital requirements proposal, fintech regulation and the CFPB itself hang in the balance as opinions (from the public and a court) and an ever-ticking clock loom large.

    By Jan. 30, 2024
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    fotostorm via Getty Images
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    One in four companies ban GenAI

    The research by Cisco found that generative artificial intelligence tools are putting many companies’ sensitive data at increased risk of public exposure.

    By Alexei Alexis • Jan. 30, 2024