Technology: Page 12
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SVB to sell venture-capital arm to investment firm Pinegrove
SVB Capital will be acquired for a combination of cash and “other economic consideration,” the companies said, without giving details on the deal’s value.
By Caitlin Mullen • May 3, 2024 -
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Ansa snags $14M mainly from female investors
The fintech, which helps merchants cut down on payment fees and drive loyalty with its white-labeled wallets, will use the cash to drive team growth and product development.
By Gabrielle Saulsbery • May 1, 2024 -
Explore the Trendline➔
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TrendlineArtificial 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 -
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TD sets aside $450M for AML penalties
The amount, however, is meant to cover the fine from just one of the three U.S. regulators investigating the bank's anti-money laundering systems.
By Dan Ennis • May 1, 2024 -
Permission granted by Stripe
Stripe unbundles services as industry shifts
The company’s move to decouple embedded financial services from payment processing means it’s ready to pursue larger customers, analysts said.
By James Pothen • May 1, 2024 -
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Binance founder Changpeng Zhao gets 4 months in prison
The ex-crypto boss pleaded guilty in November to violating anti-money laundering law. The sentence is less than the 12 to 18 months suggested by guidelines, and the three years the DOJ was hoping for.
By Gabrielle Saulsbery • April 30, 2024 -
CFO Editorial Staff
FedNow pricing aimed at avoiding market disruption
The Federal Reserve sought to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a central bank official said Wednesday.
By James Pothen , Lynne Marek • April 29, 2024 -
Green Dot CHRO eyes ‘engagement,’ tech hires amid BaaS buildout
The company has brought aboard a new chief product officer, tech chief and general manager for BaaS over the past six months.
By Suman Bhattacharyya • April 26, 2024 -
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Fed seeks 8,000 financial institutions for FedNow
About 700 financial institutions have connected to the Fed’s instant payment network since last July, with at least 1,000 more in the pipeline, a FedNow official said this week.
By Lynne Marek , James Pothen • April 26, 2024 -
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Q&AAnchorage Digital CEO says custody, staking services poised for growth
Anchorage Digital's newly hired COO Aaron Schnarch will be key in scaling up to meet the increasing institutional demand for safe digital asset infrastructure, CEO Nathan McCauley said.
By Gabrielle Saulsbery • April 24, 2024 -
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Temenos hires VMware exec as CEO
Jean-Pierre Brulard will take the reins from Andreas Andreades, who will retire after serving as interim CEO since Max Chuard's departure in January 2023.
By Dan Ennis • April 24, 2024 -
Permission granted by First Internet Bank
First Internet Bank CEO talks M&A, BaaS work
After its acquisition of First Century Bank fell through in 2022, First Internet built its own banking-as-a-service team, CEO David Becker said. It now counts startup Ramp as a client.
By Caitlin Mullen • April 24, 2024 -
Chip Somodevilla via Getty Images
Two SEC attorneys resign after ‘gross abuse of power’ sanctions
A judge sanctioned the regulator in March for issues in its case against crypto platform DEBT Box. The lead attorneys on the case have resigned, according to Bloomberg.
By Gabrielle Saulsbery • April 23, 2024 -
Scott Olson via Getty Images
Fintech One offers BNPL at Walmart stores: report
The move presents competition for BNPL provider Affirm, which has partnered with the retail giant since 2019.
By Caitlin Mullen • April 23, 2024 -
Lynne Marek/Banking Dive
Fed courts nonbanks for FedNow growth
Nonbanks "help us understand what is needed, what customers are demanding [and] not seeing, what's on the horizon that we should be thinking about," a Chicago Fed specialist said this month.
By Lynne Marek • April 23, 2024 -
Michael M. Santiago / Staff via Getty Images
Goldman sells Marcus Invest accounts to Betterment
When accounts transition in June, Goldman's three-year robo-advisory experiment will end, and the bank will shed another piece of its once-nascent consumer-banking business.
By Dan Ennis • April 23, 2024 -
Truist CIO, chief audit officer leave bank
The bank, meanwhile, has added new leaders in its payments business and logged $70 million in restructuring charges in the first quarter, CEO Bill Rogers said Monday.
By Caitlin Mullen • April 22, 2024 -
Permission granted by Mercury
Neobank Mercury adds personal banking
The fintech, which has faced regulatory scrutiny, expanded into consumer banking with Mercury Personal, offering a banking option for founders and investors.
By Rajashree Chakravarty • April 17, 2024 -
Chip Somodevilla via Getty Images
Warren, Grassley want details on CFTC, Bankman-Fried meetings
FTX founder Sam Bankman-Fried and his team met with CFTC Chair Rostin Behnam 10 times in the 14 months preceding FTX's bankruptcy. Lawmakers are now asking questions.
By Gabrielle Saulsbery • April 16, 2024 -
Mario Tama / Staff via Getty Images
Q&ABofA evolves AI-powered assistant toward deeper digital integration
Six years into the Erica era, customers are taking advantage of the tool's insights as often as they're asking questions of it, said Nikki Katz, the bank's head of digital.
By Caitlin Mullen • April 15, 2024 -
E4C via Getty Images
US, Europe lock arms on payments regulation
U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.
By Lynne Marek • April 15, 2024 -
Win McNamee / Staff via Getty Images
JPMorgan’s Dimon wants more cloud to fuel AI, analytics
The nation's biggest bank aims to have 75% of its data and 70% of its applications in the cloud this year, the CEO said in his letter to shareholders.
By Matt Ashare • April 15, 2024 -
VioletaStoimenova, iStock
Sponsored by HuronUnleashing the synergy of generative AI and robotic process automation in financial services
The synergy of generative AI and RPA is revolutionizing financial services.
April 15, 2024 -
Michael M. Santiago via Getty Images
Bankman-Fried files to appeal conviction, sentence
In an email interview following his sentencing, the FTX founder told ABC News he’s “haunted, every day, by what was lost. I never intended to hurt anyone or take anyone’s money.”
By Gabrielle Saulsbery • April 12, 2024 -
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Citi’s reorg job toll climbs to 7,000: Fraser
The bank boosted its expectation for annual savings to $1.5 billion. Meanwhile, Citi, Wells Fargo and JPMorgan Chase reported marked increases in FDIC special assessment costs.
By Caitlin Mullen • April 12, 2024 -
Permission granted by Adro
Adro raises $1.5M to bridge international students, banking services
Without a Social Security number or U.S. credit file, students coming from abroad face a lag in banking in their new home country. Adro aims to fix that.
By Gabrielle Saulsbery • April 10, 2024
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