Technology


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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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    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
  • Trendline

    Customer 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
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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
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    Kraken wants SEC suit dismissed

    The playbook for Kraken's motion to dismiss looks a lot like those of Binance and Coinbase.

    By Feb. 23, 2024
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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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    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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    Capital One to acquire Discover in $35.3B deal

    The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.

    By Feb. 20, 2024
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    SoLo Funds nears 2M users

    The peer-to-peer lending platform has faced some regulatory backlash, but a study from London's Centre for Economics and Business Research shows it's cheaper than many other subprime options.

    By Feb. 14, 2024
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    NY AG expands suit against DCG

    Attorney General Letitia James initially alleged that Digital Currency Group and others defrauded investors of $1 billion. Now, after hearing from more investors, that number is up to $3 billion.

    By Feb. 12, 2024
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    HSBC CEO knew of a plan to poach SVB bankers, First Citizens alleges

    First Citizens filed an amended complaint in federal court Wednesday, in line with a judge's order last month to "clean up" its initial $1.2 billion lawsuit.

    By Feb. 9, 2024
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    Q&A

    Banks should step up scam response: fraud expert

    With regulators gearing up to take a stronger stance against digital payments fraud, banks must focus on how they handle scams, one executive says.

    By Caitlin Mullen • Feb. 9, 2024
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    Yellen backs legislation to avert AI threat to financial stability

    Testimony by the Treasury secretary follows a pledge by the Biden administration to seize on the benefits of artificial intelligence while containing its risks.

    By Jim Tyson • Feb. 8, 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
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    Fed ends enforcement action against Farmington State Bank

    The small Washington state-based bank was heavily tied to FTX before the crypto exchange's implosion.

    By Feb. 7, 2024
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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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    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
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    Vast Bank discontinues crypto mobile app

    The Tulsa, Oklahoma-based lender told customers their digital assets would be liquidated and accounts would be closed. Customers will receive stranded assets via cashier’s check, the bank said.

    By Feb. 5, 2024
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    Celsius emerges from bankruptcy after 18 months

    As part of its bankruptcy exit, the crypto exchange is distributing $3 billion to creditors and launching a Bitcoin mining firm.

    By Feb. 2, 2024
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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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    FTX to repay customers, nixes reboot

    “I’d like the court and stakeholders to understand this is not a guarantee. ... But we believe the objective is within reach and we have a strategy to achieve it,” said FTX attorney Andrew Dietderich.

    By Feb. 1, 2024
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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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    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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    Trading platform EquiLend down following cyberattack

    The prolific criminal group LockBit has reportedly claimed credit for the attack, raising further questions about the risks facing the securities and banking industries.

    By David Jones • Jan. 24, 2024
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    Figure eyes SEC approval for interest-bearing stablecoin

    The company’s token would be redeemable at 1 cent per certificate, rather than $1, and interest would accrue daily and be paid monthly to the user, according to paperwork filed with the agency.

    By Jan. 23, 2024
  • Incoming CEO of Jack Henry & Associates, Greg Adelson, posing against a bookshelf and lamp.
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    Retrieved from LinkedIn on January 23, 2024

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    Jack Henry vaults COO to CEO seat

    Greg Adelson, the company’s current president and chief operating officer, will take the reins from outgoing CEO David Foss in July.

    By James Pothen • Jan. 23, 2024