Klarna files for IPO

The buy now, pay later company announced Tuesday it had filed confidentially with the Securities and Exchange Commission for an initial public offering.

By Patrick Cooley • Nov. 13, 2024

Cross River drops lawsuit against Fiserv subsidiary

The Fort Lee, New Jersey-based lender dismissed its lawsuit against First Data Merchant Services, which was filed in October 2023, without disclosing a reason. 

By Rajashree Chakravarty • Nov. 6, 2024

Explore the 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

Fed aims to make instant payments the norm

“It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at an industry conference last week.

By Lynne Marek and Patrick Cooley • Nov. 5, 2024

Stablecoins face obstacles to widespread adoption

The digital currencies could simplify cross-border payments, but consumers are wary of using them, payments and fintech executives say.

By Patrick Cooley • Nov. 4, 2024

Flagstar taps CIO, credit review chief

The bank has brought on a number of new executives this year and also completed the sale of its mortgage business to Mr. Cooper on Friday.

By Gabrielle Saulsbery • Nov. 4, 2024

CFPB fines VyStar $1.5M over 2022 outage

The order requires the Jacksonville, Florida-based credit union to reimburse fees and costs to members from the botched rollout of an online banking system.

By Rajashree Chakravarty • Nov. 1, 2024

Kraken cuts staff, appoints co-CEO and CFO

The crypto exchange has cut about 400 employees, sources told The New York Times, in an effort to be “leaner and faster.” The move comes alongside changes in the company's C-suite.

By Gabrielle Saulsbery • Nov. 1, 2024

Singh, fourth FTX exec sentenced, avoids prison

Former FTX engineering chief Nishad Singh showed an “eagerness to assist” the prosecution during its case against Sam Bankman-Fried, and a similar energy to help CEO John Ray in FTX's bankruptcy case.

By Gabrielle Saulsbery • Oct. 31, 2024

Consensys to slash 20% of workforce

The blockchain software firm best known for its self-custodial MetaMask wallet cited regulatory uncertainty and a push toward “rigorous decentralization.”

By Gabrielle Saulsbery • Oct. 30, 2024

JPMorgan Chase sues customers who exploited viral ‘glitch’

With four nearly identical lawsuits, the nation’s largest bank wants users to return hundreds of thousands of dollars taken in a scheme promoted on TikTok.

By Gabrielle Saulsbery • Oct. 29, 2024

Citi taps Google Cloud for app migration, AI adoption

The bank, as part of a broad modernization push, announced a multiyear partnership Monday with the hyperscaler.

By Matt Ashare • Oct. 28, 2024

Pay-by-bank to be used for bills, Plaid CEO predicts

Plaid CEO Zach Perret expects consumers to use pay-by-bank services for mortgage and utility payments, but is skeptical they will be used to pay at restaurants or for groceries any time soon, he said.

By Patrick Cooley • Oct. 28, 2024

Kraken to launch its own blockchain

Ink will be rolled out to retail and institutional users early next year, with the aim to offer decentralized finance to a larger audience.

By Gabrielle Saulsbery • Oct. 28, 2024

Goldman, Apple to pay CFPB $89.8M over Apple Card issues

The bank and tech firm failed to address disputed transactions from their joint Apple Card program, the bureau alleged, and misled cardholders about interest-bearing products.

By Gabrielle Saulsbery • Oct. 23, 2024

Santander debuts digital bank in US

With Openbank, already established in Europe, the lender aims to accelerate its U.S. growth strategy by generating more deposits to fund its auto lending.

By Rajashree Chakravarty • Oct. 22, 2024

Fiserv may grab competitive edge with new bank charter

The payments processor can undercut rivals on price because it won’t be paying bank fees, industry consultants say.

By Patrick Cooley • Oct. 21, 2024

OCC hits Florida bank over AML concerns

Maitland-based Axiom Bank agreed to revamp its BSA/AML program and look back at its suspicious activity reporting history.

By Gabrielle Saulsbery • Oct. 18, 2024

JPMorgan Chase leads banking sector in AI adoption: report

In a tightening race, Capital One gained ground by adding engineering talent, according to Evident research published Thursday.

By Matt Ashare • Oct. 18, 2024

Truist CEO: No ‘merger hangover’ with expenses

As the bank approaches five years since the completion of the SunTrust-BB&T merger, Truist CEO Bill Rogers sought to assure analysts Thursday that it’s on offense rather than defense.

By Caitlin Mullen • Oct. 17, 2024

Banks must be wary of AI security risks, regulator says

NYDFS Superintendent Adrienne Harris says financial services firms have to keep their cybersecurity measures up to snuff, lest they fall victim to cyber threats.

By Gabrielle Saulsbery • Oct. 17, 2024

Crypto firm Copper hires ex-Goldman exec as new CEO

Amar Kuchinad will replace the founder and current CEO, Dmitry Tokarev, in a push to drive the crypto custodian’s global growth strategy with a focus on fortifying its U.S. presence.

By Rajashree Chakravarty • Oct. 16, 2024

Payments players tap M&A to build tech stacks

The Fed’s recent interest rate cut could spur even more deal-making in the remaining months of the year and into 2025. Mastercard, Global Payments and Payoneer are among the companies that have bought businesses this year.

By Shefali Kapadia • Oct. 16, 2024

Citi ‘can walk and chew gum at the same time’: Fraser

CEO Jane Fraser cited the bank’s ability to cut expenses while addressing the data, risk and control flaws regulators have flagged.

By Caitlin Mullen • Oct. 15, 2024

Harris tries to court Black men voters with forgivable loans, crypto

Vice President Kamala Harris’ plans are part of her Opportunity Economy pledge, “an economy where people don't just get by, but get ahead,” and come as polls show she could stand to gain more support from Black men voters.

By Gabrielle Saulsbery • Oct. 14, 2024

Data overload thwarts digital transformation in banking

Despite eagerness to scale AI capabilities, the financial sector remains mired in technical debt.

By Matt Ashare • Oct. 14, 2024