Technology: Page 13
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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 -
Courtesy of Peterbilt
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 -
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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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 Rajashree Chakravarty • 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 Gabrielle Saulsbery • 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 Gabrielle Saulsbery • 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 Gabrielle Saulsbery • 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 Rajashree Chakravarty • 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 Dan Ennis • 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 Dan Ennis • Jan. 23, 2024 -
Retrieved from LinkedIn on January 23, 2024
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 -
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Binance, SEC face off in court
For the second time in one week, the Securities and Exchange Commission sought to convince a judge that crypto is a security, and a crypto company sought to convince her of the opposite.
By Gabrielle Saulsbery • Jan. 23, 2024 -
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BaaS to require strong commitment, investment in 2024, experts say
While demand for embedded banking services will continue to propel the BaaS space, experts say regulatory scrutiny will likely separate committed banks from those with a casual interest in the model.
By Anna Hrushka • Jan. 22, 2024 -
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FedNow draws some banks, as others lag
The Federal Reserve is building up bank participation in FedNow, but big financial institutions such as Bank of America, Citi, PNC and Capital One, remain on the sidelines — for now.
By Lynne Marek • Jan. 19, 2024 -
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Citi poured $12B into tech last year, retired nearly 400 legacy apps
While efforts to modernize are underway, the company is operating at a loss and plans to cut 20,000 positions by 2026 as part of a broader restructuring.
By Matt Ashare • Jan. 18, 2024 -
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Bank of America CEO on digital transformation: ‘There’s always more to go’
The Charlotte, North Carolina-based lender has spent billions of dollars on data systems to support AI tools in the past decade and assisted 18 million unique users in Q4, CEO Brian Moynihan said.
By Matt Ashare • Jan. 18, 2024 -
Photo illustration: Varo Bank; Getty Images
Varo rolls out free tax prep and filing tool with Column Tax
All Varo Bank customers can access the tax filing service, which uses pre-filled data based on user information and helps to file taxes in less than 15 minutes, the lender said.
By Rajashree Chakravarty • Jan. 17, 2024 -
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Genesis Global Trading to pay $8M fine, surrender BitLicense
The Digital Currency Group subsidiary has been winding down since September. New York's crypto czar penalized it Friday for failing to comply with regulations while in operation.
By Gabrielle Saulsbery • Jan. 16, 2024 -
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First Citizens can move forward with $1.2B poaching suit against HSBC
The judge in the case called the suit “confusing," and gave First Citizens 28 days to file an amended complaint. The bank alleges an ex-SVB executive masterminded a plan to bring 42 colleagues to HSBC.
By Gabrielle Saulsbery • Jan. 12, 2024 -
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Stablecoin issuer Circle files for IPO
Circle, which issues the USDC stablecoin, said Thursday it filed confidential paperwork with the Securities and Exchange Commission — one day after the SEC's approval of 11 spot bitcoin ETFs.
By Gabrielle Saulsbery • Jan. 11, 2024 -
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FTC slaps $3M penalty on fintech FloatMe
The federal agency alleged the cash advance app company charged users without consent and misled consumers on eligibility requirements.
By Rajashree Chakravarty • Jan. 10, 2024 -
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Remitly taps ads to woo new clients
The cross-border payments company has boosted marketing to build up its remittance clientele.
By Lynne Marek • Jan. 10, 2024 -
The image by Gareth Milner is licensed under CC BY-SA 2.0
Barclays slashes 5,000 jobs in cost-cutting effort
The London-based bank said it cut 5,000 roles from its global workforce of 84,000 last year in a bid to "simplify and reshape the business.”
By Anna Hrushka • Jan. 9, 2024 -
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5 banking trends to watch in 2024
Banking observers will watch this month’s earnings for clues as to whether 2023’s crisis can return. The capital-requirements debate and a CFPB-focused Supreme Court case also warrant attention.
By Gabrielle Saulsbery , Rajashree Chakravarty , Anna Hrushka , Dan Ennis • Jan. 9, 2024 -
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Sponsored by Elan Corporate Payment SystemsHow banks can create emotional connections to drive customer loyalty
Making life easier for a commercial customer’s employees strengthens emotional connections and bolsters CX.
Jan. 8, 2024
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