Technology
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Courtesy of Ally Financial
Ally CEO indicates card business not a core focus
“In a world of limited capital and limited expenses,” the bank’s next dollar is “not going to go there, despite the fact that it’s a very strong business,” Michael Rhodes said of Ally’s card unit.
By Caitlin Mullen • Dec. 13, 2024 -
gradyreese via Getty Images
Gen Digital to acquire MoneyLion in $1B deal
Gen, the global parent firm of cyber safety brands Norton and Avast, will pay $82 per share in cash to add the consumer finance fintech to its roster.
By Rajashree Chakravarty • Dec. 11, 2024 -
Explore the Trendline➔
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TrendlineCustomer service
Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.
By Banking Dive staff -
Courtesy of Coinbase
FDIC letters give credence to ‘Choke Point 2.0’ claims: Coinbase CLO
The agency asked nearly two dozen banks to pause crypto-related activity in 2022, according to letters unveiled via Coinbase’s FOIA requests.
By Gabrielle Saulsbery • Dec. 11, 2024 -
GCShutter via Getty Images
Citi CFO: Evolving data standards make upgrade more complex
Mark Mason, the bank’s finance chief, also said the focus on the need to improve data tied to regulatory reporting isn’t unique to Citi.
By Caitlin Mullen • Dec. 10, 2024 -
Kate Tornone/Banking Dive
Citizens tweaks features, eyeing deeper ties to customers
Recent upgrades to the super-regional’s digital experience are aimed at fueling primacy with clients, a Citizens executive said, as banks vie to be their customers’ No. 1.
By Caitlin Mullen • Dec. 6, 2024 -
Michael M. Santiago / Staff via Getty Images
ColumnDive Deposits: Citi begins December with a data dump
The bank’s split of Mexican operations was just the beginning. There were also 344 promotions to managing director, a high-profile exit, an AI rollout and a block-trade stumble.
By Dan Ennis • Dec. 6, 2024 -
Celsius founder Mashinsky pleads guilty to fraud
His two-count guilty plea could send the 59-year-old to prison for 30 years.
By Gabrielle Saulsbery • Dec. 4, 2024 -
Chor muang via Getty Images
Thread Bank CEO anticipates more ‘reasonable’ regulatory environment under Trump
The lender – hit with an FDIC consent order this year – has tried to ensure its house “can withstand the storm,” rather than simply “being mad at the weather,” CEO Chris Black said.
By Caitlin Mullen • Dec. 4, 2024 -
hapabapa via Getty Images
Trump taps crypto lobbyist to lead SEC
Trump’s nominee, Paul Atkins, served as a commissioner at the SEC under former President George W. Bush.
By Alexei Alexis • Dec. 4, 2024 -
Matt Winkelmeyer / Staff via Getty Images
Crypto leaders have knives out for attorneys leaving the SEC
Coinbase and Ripple executives want law firms not to hire lawyers who worked on lawsuits against them.
By Robert Freedman • Dec. 4, 2024 -
Permission granted by Fifth Third Bank
Fifth Third’s branch expansion holds tech at the center
Its patent-pending heat mapping tool will power the bank’s expansion plan to add about 200 branches by 2028, primarily in the Southeast.
By Gabrielle Saulsbery • Dec. 4, 2024 -
Cecilie Arcurs via Getty Images
Q&AWorldpay exec talks digital wallet security
The head of fraud prevention for the processor said the company leverages data to block hackers and fraudsters seeking digital wallet information.
By Patrick Cooley • Dec. 3, 2024 -
Joe Raedle / Staff via Getty Images
Capital One report finds data disconnect between IT, business leaders
Most executives are confident in their organization’s data capabilities. Technical practitioners aren’t so sure.
By Matt Ashare • Dec. 2, 2024 -
AVNphotolab via Getty Images
Synapse partner banks hit with lawsuit over fund mismanagement
The four banks – Evolve, AMG National Trust, American Bank and Lineage – were sued Friday, after thousands of consumers were left without access to their funds post-Synapse collapse.
By Rajashree Chakravarty • Nov. 27, 2024 -
Courtesy of Affirm
BNPL use may rise this year for holiday shopping
With credit card interest rates at a historic high, consumers are likely to gravitate to lower-cost alternatives, including potentially buy now, pay later options, industry consultants say.
By Patrick Cooley • Nov. 27, 2024 -
TenleyThompson via Getty Images
Custodia takes a step back ahead of Trump term
The Wyoming bank, long embattled with the Federal Reserve, aimed to “preserve capital” and its charter before the White House takes a presumably more crypto-positive tone.
By Dan Ennis • Nov. 26, 2024 -
Courtesy of U.S. Bank
U.S. Bank bets on capital markets boost
The super-regional is expanding its product set and angling for a more prominent position with its clients, the bank’s head of wealth, corporate, commercial and institutional banking said.
By Caitlin Mullen • Nov. 26, 2024 -
shutterstock.com/Andrii Yalanskyi
Sponsored by EncaptureThe countdown to 1071: Why automation is a must-have for banks
Upcoming rules demand action — banks must act now. Learn why automation is key for compliance.
By Brynna Desantiago, Head of Marketing at Encapture • Nov. 25, 2024 -
Matt Cardy via Getty Images
HSBC hires Citi vet to lead ex-SVB unit
Emily Turner, a 13-year veteran at Citi, will become the CEO of the HSBC Innovation Banking UK unit, starting in February.
By Rajashree Chakravarty • Nov. 21, 2024 -
Justin Sullivan via Getty Images
Deep DivePayPal CEO pushes beyond payments
After a year as CEO of the digital payments pioneer, Alex Chriss is spearheading an expanded role in commerce for the company.
By Lynne Marek • Nov. 20, 2024 -
Spencer Platt / Staff via Getty Images
Robinhood buys wealth management platform TradePMR
Ahead of what’s projected to be the largest wealth transfer in history, Robinhood is bringing financial advisers directly to its 24 million customers.
By Gabrielle Saulsbery • Nov. 20, 2024 -
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Sponsored by SnowflakeNailing your AI strategy for banking is more important than you think
What data leaders in banking and financial services should consider for a successful enterprise AI strategy.
By Snowflake • Nov. 18, 2024 -
Olemedia via Getty Images
Community banks need to step up third-party practices: survey
Community and mid-size banks lack due diligence and rigorous contract negotiations with third-party vendors, including fintechs, leading to potential risks, a Jones Walker survey said.
By Rajashree Chakravarty • Nov. 13, 2024 -
Joe Raedle via Getty Images
Block recalibrates crypto approach
The payments firm is winding down its bitcoin-focused TBD business and investing in its self-custody wallet and bitcoin mining businesses.
By Gabrielle Saulsbery • Nov. 13, 2024 -
Michael M. Santiago / Staff via Getty Images
Underbanked US population grows to 14.2%, FDIC finds
Separately, the unbanked proportion of U.S. households dropped to 4.2% last year, the regulator said in its biennial survey. But racial disparity persists: 32.3% of unbanked households are Black and 33.4% are Hispanic, the FDIC found.
By Caitlin Mullen • Nov. 13, 2024
