Fintech: Page 17
The latest fintech news for banking professionals.
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Ramp acquires AI-powered Cohere
The finance automation platform acquired the startup to help drive AI-powered projects and solve problems for its customers, it said.
By Rajashree Chakravarty • July 5, 2023 -
Visa to acquire Pismo for $1B
Visa said it has agreed to acquire the Brazilian company to provide more card issuing and banking services to fintechs and financial institutions.
By Lynne Marek • June 29, 2023 -
Explore the Trendline➔
da-kuk via Getty ImagesTrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
BNP Paribas deal signals end to Orange’s challenger bank status
The telecom company has taken more than €800 million in losses on its banking efforts since 2017, Bloomberg reported. Its CEO floated a strategy to invest more in cybersecurity and grow its core business in Africa.
By Dan Ennis • June 29, 2023 -
Remittance fintech launches neobank
Piermont Bank will provide the underlying banking services for Sendwave Pay, which offers users a debit card and reimbursements for international transaction fees when the card is used outside of the U.S.
By Anna Hrushka • June 28, 2023 -
Square tests credit card for merchants
The card aimed at providing more financial services to merchants comes amid a slew of competition to serve that clientele.
By Caitlin Mullen • June 28, 2023 -
U.S. Bank’s fintech acquisition materializes in card launch
U.S. Bank and TravelBank, which it acquired in 2021, this week launched a commercial rewards card for the emerging middle market.
By Gabrielle Saulsbery • June 28, 2023 -
Robinhood cuts around 150 jobs
The cuts amount to 7% of the brokerage’s workforce and follow two rounds of layoffs in 2022.
By Gabrielle Saulsbery • June 27, 2023 -
Fintech startup TreasurySpring raises $29M amid bank turmoil
The startup is among fintech companies looking to capitalize on the Silicon Valley Bank collapse and other recent bank failures.
By Alexei Alexis • June 26, 2023 -
Goldman underwhelmed by GreenSky bids: report
Apollo, Sixth Street and Synchrony are among bidders for all or part of the installment-lending platform, sources told CNBC. Goldman may take a writedown on the sale.
By Dan Ennis • June 23, 2023 -
Plaid launches anti-fraud network for banks, fintechs
The collaborative anti-fraud network is “designed to stop the chain reaction of fraud that occurs when identities are stolen and accounts are compromised,” the company said.
By Anna Hrushka • June 23, 2023 -
Robinhood to buy card startup X1 in $95M deal
The online brokerage said it will take on X1 employees, including co-founders Deepak Rao and Siddharth Batra, but did not specify how many.
By Lynne Marek • June 23, 2023 -
US servicemembers ensnared by digital payment app scams
Servicemember complaints about digital payment apps surged last year, according to a CFPB report, which also highlighted military families’ susceptibility to payments fraud.
By Lynne Marek • June 22, 2023 -
Q&A
Majority leans into subscriptions as consolidation hits fintech sector
Majority raised $9.75 million in new funding this month, some of which it plans to put toward a meet-up space it recently opened at the U.S.-Mexico border in Laredo, Texas.
By Anna Hrushka • June 21, 2023 -
Citizens partners with Wisetack on BNPL loans for SMBs
Citizens will focus on home improvement projects through Wisetack’s platform that connects in-person providers with buy now, pay later lenders.
By Rajashree Chakravarty • June 21, 2023 -
Shopify taps Adyen in bid for bigger clients
Canadian e-commerce company Shopify is upgrading its integration with Dutch fintech Adyen in an effort to serve larger merchants in North America and on the international stage.
By Caitlin Mullen • June 21, 2023 -
Fed publishes master account list
The move follows calls from Republicans for the Fed to shed light on the process by which it grants accounts, and comes as an increasing number of uninsured firms are vying for access to the central bank’s system.
By Anna Hrushka • June 20, 2023 -
Walmart-backed ONE offers 5% savings rate
As the fintech looks to grow in a competitive field, it plans to leverage Walmart’s distribution channels, and is rapidly expanding its presence in Walmart stores, a source said.
By Anna Hrushka • June 14, 2023 -
BNY Mellon, MoCaFi link up to bring digital payments to unbanked
The bank’s treasury services clients will now be able to disburse payments to those without bank accounts through MoCaFi.
By Gabrielle Saulsbery • June 14, 2023 -
Visa launches fintech accelerator in Africa
The program is part of Visa’s effort to invest $1 billion in the continent’s digital transformation over five years.
By James Pothen • June 14, 2023 -
Jack Henry to eliminate screen scraping by end of summer
The fintech, which has API integrations with data exchange platforms Finicity, Akoya, Plaid, Envestnet | Yodlee and Intuit, started phasing out the practice five years ago.
By Anna Hrushka • June 14, 2023 -
Starling CEO Anne Boden’s exit followed investor clash: report
Jupiter Asset Management sold its stake in the neobank, dropping Starling’s valuation by more than £1 billion. The effect on the value of Boden’s — and Starling employees’ — holdings became a concern.
By Rajashree Chakravarty • June 14, 2023 -
Banks too slow to address P2P payment scams, CFPB’s Chopra says
“They have been very slow to take action,” the bureau’s director said Tuesday, when asked if banks were creating frameworks to combat fraud and scams conducted on peer-to-peer payment platforms.
By Anna Hrushka • June 13, 2023 -
FIS acquires Bond: reports
FIS has acquired Bond, according to two news outlet reports, including one backed by an internal company memo.
By Lynne Marek • June 12, 2023 -
Fed, FDIC, OCC update guidance on third-party risk management
Regulators described the new guidance as “principles-based,” which can be adjusted to the unique circumstances of each third-party relationship.
By Anna Hrushka • June 7, 2023 -
The image by Ted Eytan is licensed under CC BY-SA 2.0
CFPB slaps warning on P2P
The federal agency told consumers that money sitting in uninsured accounts, such as some offered by PayPal, Venmo and Cash App, could be at risk.
By Lynne Marek • June 2, 2023