Gensler sees companies with AI gaining clout over consumers

The SEC chief warned that the handful of companies leading AI innovation may come to dominate the market.

By Jim Tyson • July 17, 2023

Binance lays off at least 1,000: reports

The company told employees last month that it would stop offering certain benefits, according to The Wall Street Journal. CEO Changpeng Zhao said there could be additional layoffs every three to six months.

By Gabrielle Saulsbery • July 17, 2023

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

How do you reduce your IT costs?

In this blog, we’ll provide three tips on reducing your IT costs: how to identify the right devices to upgrade, the importance of IT budgeting and an IT cost reduction checklist.

By Jackson Connell • July 17, 2023

Ripple, SEC each get a partial win in XRP ruling

The crypto firm’s token is a security when it’s sold to institutional investors but not to the general public, a judge ruled Thursday, adding that a jury must decide whether Ripple execs helped the company violate the law.

By Dan Ennis • July 14, 2023

Apple debuts recurring payments

The tech giant, now valued at $3 trillion, is continuing to expand its financial offerings after debuting a buy now, pay later feature and a savings account earlier this year.

By James Pothen • July 14, 2023

Celsius ex-CEO charged with fraud as FTC reaches $4.7B settlement

Prosecutors allege Alex Mashinsky misrepresented the crypto exchange's safety, profitability and risk appetite. Celsius' chief risk officer also was arrested, and three federal agencies filed lawsuits.

By Dan Ennis • July 13, 2023

Jenius Bank debuts personal loan product

The launch of a consumer loan product is “phase 1” of Jenius’ strategy to grab a chunk of the U.S. digital banking market, CEO John Rosenfeld said.

By Anna Hrushka • July 13, 2023

Discover hires Wells Fargo exec as next CIO

Jason Strle, a six-year Wells vet who previously spent more than a decade at JPMorgan Chase, succeeds Amir Arooni at the card company.

By Matt Ashare • July 13, 2023

Fintechs, digital banks make gains in battle for checking accounts

Digital banks and fintechs made up nearly half (47%) of all new checking accounts opened so far in 2023, up from 36% in 2020, according to a survey by Cornerstone Advisors. 

By Anna Hrushka • July 12, 2023

Twitter snags money transfer license in Arizona

That’s the fourth state in which the social media company has received a license, inching it closer to creating the payments tool and super-app envisioned by owner Elon Musk.

By James Pothen • July 12, 2023

[PODCAST] Digital identity opportunities in the financial services industry

This podcast explores the policy and regulatory trends shaping digital identity, including age-gating and social media bans.

By Banking Dive's studioID • July 10, 2023

Bank failures spur AI financial risk innovations

New AI solutions can leapfrog institutions beyond yesterday’s cutting edge, fundamentally transforming the competitive landscape.

July 10, 2023

Binance CEO deflects as compliance, legal execs leave

A source within the crypto exchange told Fortune the departures stemmed from Changpeng Zhao’s response to a DOJ investigation. However, Binance’s ex-chief strategy officer cited personal reasons in a tweet.

By Dan Ennis • July 7, 2023

Kraken ordered to hand over user info to IRS

The IRS requested the information earlier this year, but Kraken refused. The tax agency then asked a judge to enforce a summons issued to the exchange’s holding company.

By Gabrielle Saulsbery • July 6, 2023

Goldman in talks to transfer Apple card deal to Amex: reports

The move, if true, would mark a 180-degree turn after the bank and tech giant extended their partnership until 2029 in October.

By Gabrielle Saulsbery • July 5, 2023

FedNow battles conspiracy theories

The central bank has launched a marketing campaign aimed at debunking disinformation that derides the real-time payments system, set to roll out next month, as a government power grab.

By Lynne Marek • June 28, 2023

U.S. Bank’s fintech acquisition materializes in card launch

U.S. Bank and TravelBank, which it acquired in 2021, this week launched a commercial rewards card for the emerging middle market.

By Gabrielle Saulsbery • June 28, 2023

Fintech startup TreasurySpring raises $29M amid bank turmoil

The startup is among fintech companies looking to capitalize on the Silicon Valley Bank collapse and other recent bank failures.

By Alexei Alexis • June 26, 2023

Diving into composable banking? Focus on origination.

Leading financial institutions are moving towards composable banking solutions. What are the benefits of this next-gen model and where should you get started?

June 26, 2023

Using income and employment data to personalize financial experiences and meet evolving expectations

Whether it’s to attract direct deposits, or to upsell credit products in the future, creating long lasting relationships with customers is one of the ultimate goals for any bank.

June 26, 2023

JPMorgan to pay $4M to SEC over 47M lost records

An outside vendor mistakenly deleted emails and instant messages from early 2018 but failed to apply a setting that would have preserved the records for the three years the SEC requires, the regulator said.

By Dan Ennis • June 22, 2023

JPMorgan names head to new data and analytics business

Company vet Teresa Heitsenrether will lead the charge in implementing artificial intelligence, something CEO Jamie Dimon recently called “critical to our company’s future success.”

By Gabrielle Saulsbery • June 22, 2023

Citizens partners with Wisetack on BNPL loans for SMBs

Citizens will focus on home improvement projects through Wisetack’s platform that connects in-person providers with buy now, pay later lenders.

By Rajashree Chakravarty • June 21, 2023

Deutsche Bank applies for crypto custody license

BlackRock and a Charles Schwab-backed platform have entered or clearly made plans to broach the cryptosphere in the past week, which could bode well for crypto-native companies.

By Gabrielle Saulsbery • June 21, 2023

Binance.US avoids asset freeze via SEC deal

Customers of the U.S. affiliate of Binance, the world’s largest crypto exchange, can continue to withdraw their assets after the exchange struck a deal with the regulator Saturday.

By Gabrielle Saulsbery • June 20, 2023