Klarna whittled workforce via AI ahead of IPO

The Swedish buy now, pay later juggernaut cut its headcount in each of the past two years, and expects to keep shrinking it.

By Justin Bachman , Lynne Marek • March 17, 2025

Mercury to pivot from partner bank Evolve

The decision to sever ties with Evolve follows neobank Dave’s decision to line up Coastal Community Bank as its new partner. 

By Rajashree Chakravarty • March 17, 2025

Explore the Trendline➔

Artificial 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

Brex strives for predictability after operational overhaul

After the company laid off 20% of its employees last January and changed the way it puts out products, Brex COO Camilla Matias has high hopes for what’s coming.

By Gabrielle Saulsbery • March 13, 2025

Airwallex taps into multibillion-dollar creator economy

By embedding finance tools into creator platforms, Airwallex aims to help creators get paid more easily, said Ravi Adusumilli, the company's Americas president.

By Gabrielle Saulsbery • March 12, 2025

Varo to leverage AI, machine learning in profitability push

Incoming Varo Bank CEO Gavin Michael said he plans to achieve profitability by capitalizing on technology for underwriting and fraud prevention. 

By Rajashree Chakravarty • March 12, 2025

Pathward CEO: Regulatory scrutiny of BaaS ‘just getting started’

Regulators will keep BaaS under the microscope, continuing to put pressure on the space and contributing to fewer banks in the space, expects Brett Pharr, the bank’s CEO.

By Caitlin Mullen • March 12, 2025

Green Dot considers sale as CEO exits

The embedded finance company, which posted a loss last year, hired Citi to explore its strategic options and named an interim CEO.

By Lynne Marek • March 11, 2025

Capital One co-founder sees a ‘generation’ of fintech IPOs soon

“Fintech levels the playing field,” said Nigel Morris, who runs venture-capital firm QED Investors. “Fintech takes away the power hegemony between incumbent and individual.”

By Gabrielle Saulsbery • March 11, 2025

Dave, Coastal Community Bank team up in pivot away from Evolve

The Los Angeles-based fintech will start onboarding customers to Coastal Community Bank as soon as the second quarter of 2025, Dave said Monday.

By Rajashree Chakravarty • March 5, 2025

Crypto miner stresses risk minimization, manufacturing capability

Broadstreet Private Equity CEO David Feingold hedges against the volatility of crypto by converting every altcoin his operation mines into a stablecoin by day’s end.

By Gabrielle Saulsbery • March 5, 2025

Crypto firm Tether appoints new CFO, names predecessor as chair

The stablecoin issuer aims to conduct a full audit in a bid to leave behind a somewhat checkered past with U.S. regulators as the Trump administration courts the crypto industry.

By Grace Noto • March 4, 2025

SEC drops case against Kraken

“This dismissal lifts that cloud of uncertainty. It reaffirms that businesses like Kraken, which prioritize compliance and consumer protection, should not be subject to arbitrary legal battles,” the exchange wrote in a blog post.

By Gabrielle Saulsbery • March 3, 2025

Robinhood CFO sells $1.2M in shares after dropped SEC investigation

“Let me be crystal clear — this investigation never should have been opened,” Robinhood’s chief legal officer said last Monday.

By Grace Noto • Feb. 28, 2025

KeyBank, Treasury Prime partner on embedded banking

The partnership, targeted at fintechs and institutional clients, will focus on faster revenue generation and simpler technical uplifts. 

By Rajashree Chakravarty • Feb. 27, 2025

A mixed weekend for crypto

The SEC dropped crypto enforcement actions against two companies, but the DOJ handed a half billion dollars in penalties to another. A fourth was hit with a record hack.

By Gabrielle Saulsbery • Feb. 26, 2025

Colorado, Virginia legislation would impact fintech lending

The FDIC withdrew support for Colorado's “opt-out” law allowing interstate interest rate exportation, while Virginia's pending bill would restrict fintech lending statewide.

By Rajashree Chakravarty • Feb. 26, 2025

Stripe employee share sale may mean delayed IPO

An internal sale of stock to workers may mean the company won’t pursue a public offering anytime soon, consultants and analysts said.

By Patrick Cooley • Feb. 25, 2025

Fintech Stash gets a boost from its AI assistant

Stash’s artificial intelligence-powered platform, Money Coach, has helped it become free cash flow positive while helping its customers make “efficient and smart” financial choices, co-CEO Ed Robinson said.

By Rajashree Chakravarty • Feb. 19, 2025

Fed’s Barr: Race to tap generative AI exacerbates risks

As more nimble nonbanks employ a “risk-forward” attitude toward generative AI, the Fed’s outgoing vice chair for supervision called for monitoring how the technology’s introduction alters banking.

By Caitlin Mullen • Feb. 19, 2025

Fed delays start of new Fedwire standard

The central bank postponed a deadline for banks and credit unions to move Fedwire payments to the ISO 20022 format. That may also hold up a broader industry modernization effort.

By Lynne Marek • Feb. 19, 2025

How payment scams start on social media

Bad actors contact consumers through social media and then persuade them to send money over payment platforms, a JPMorgan Chase payments executive said during a Payments Dive virtual event.

By Patrick Cooley • Feb. 18, 2025

Waller sees stablecoins advancing in retail

Stablecoins are seeping into payments at stores, but there are plenty of hurdles before they become widely used, according to Federal Reserve Governor Christopher Waller.

By Lynne Marek • Feb. 18, 2025

Why the rampant underreporting of fraud? Shame, panelists say

Push-payment scams are at a "crisis level," consumer advocates at a Banking Dive event said, with losses totaling perhaps more than 15 times what's reported.

By Gabrielle Saulsbery • Feb. 12, 2025

Wise to close Tampa office, cut about 300 employees

The fintech will shutter its Florida location in November, with layoffs starting in April. Wise will consolidate Americas teams in Austin, New York and São Paulo.

By Rajashree Chakravarty • Feb. 12, 2025

nCino taps chief product officer as CEO

Sean Desmond succeeded Pierre Naudé, the firm’s chairman and CEO of 13 years, to become the next chief executive.

By Rajashree Chakravarty • Feb. 5, 2025