Technology: Page 26


  • People gather outside Silicon Valley Bank.
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    Justin Sullivan via Getty Images
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    Deep Dive

    ‘Meme stock in reverse’: SVB collapse portends new era of viral bank runs

    Silicon Valley Bank’s demise gave the banking sector a glimpse into how social media and digital banking can turn a financial institution from operational to insolvent in a matter of hours.

    By March 15, 2023
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    Dan Kitwood via Getty Images
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    Anchorage Digital cuts 20% of staff

    “The need for better crypto infrastructure is growing ever clearer,” the company told Bloomberg amid a seven-day span that has seen the closure of three banks heavily invested in the crypto sector.

    By March 15, 2023
  • Explore the Trendline
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    Trendline

    Fintech disruption in the banking industry

    There are as many schools of thought on how to disrupt the banking space as there are disruptors.

    By Banking Dive staff
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    Philip Steury via Getty Images
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    Bank failure panic fuels moment of opportunity for threat actors

    As regulators step in to operate SVB and Signature, threat hunters and security executives warned organizations to look out for malicious activity.

    By Matt Kapko • March 14, 2023
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    Matt Cardy/Getty via Getty Images
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    HSBC buys UK arm of SVB for symbolic £1

    “Deposits will be protected, with no taxpayer support,” Jeremy Hunt, Britain’s finance minister, tweeted Monday.

    By March 13, 2023
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    Anna Hrushka/Banking Dive
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    Signature Bank closed by NY regulator

    Business clients pulled deposits Friday after the crumbling of fellow crypto-friendly Silicon Valley Bank. An auction for Signature's assets could begin Monday.

    By March 13, 2023
  • An SVB sign stands outside the bank's headquarters.
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    Justin Sullivan via Getty Images
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    Regulators take over Silicon Valley Bank

    The California Department of Financial Protection and Innovation closed the embattled bank and appointed the FDIC as receiver, regulators said Friday.

    By March 10, 2023
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    Dan Kitwood via Getty Images
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    Crypto bank Silvergate shuttering operations, liquidating

    "Today we are seeing what can happen when a bank is overreliant on a risky, volatile sector like cryptocurrencies,” Sen. Sherrod Brown, D-OH, said in a statement.

    By March 9, 2023
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    ipopba via Getty Images
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    Technology gap puts Black banks at risk: report

    Black banks, which help expand credit to underserved areas, risk losing customers if they continue to fall behind their nonminority peers in terms of digital banking offerings, a researcher said.

    By March 9, 2023
  • Digital bank, Grasshopper Bank
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    Q&A

    Grasshopper Bank leans on fintech partners to weather economic downturn

    “We understand partnerships. And the one thing that I tell people is, once you refer to one of your fintech partners as a vendor, then you're in a bad place,” CEO Mike Butler said.

    By March 8, 2023
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    HMBradley ends waitlist after landing new sponsor bank

    The neobank tapped NYCB as its new sponsor bank after its former partner struggled to keep up with the rapid deposit growth.

    By March 8, 2023
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    WaFd fintech spinoff Archway launches after $15M funding round

    “We’re trying to close that digital divide so the community and regional banks can really foster those relationships without making them sacrifice the technology side,” said Dustin Hubbard, Archway’s president.

    By March 8, 2023
  • The letters AI on a digital block
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    BlackJack3D via Getty Images
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    Brex offers ChatGPT-style CFO tools

    The announcement comes as interest in ChatGPT is rapidly gaining momentum, even as some worry about potential privacy and security risks.

    By Alexei Alexis • March 7, 2023
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    Alex Wong via Getty Images
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    Hsu: Crypto needs lead regulator, global framework of rules

    The OCC's acting chief, during a speech Monday, likened FTX’s collapse to that of the Bank of Credit and Commerce International in 1991.

    By March 7, 2023
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    Kraken ‘on track’ to launch bank despite headwinds

    "We're going to have those pens with the little ball chains ... and attach them to the desks of Wall Street banks everywhere. With our logo," Chief Legal Officer Marco Santori said on a podcast.

    By March 7, 2023
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    pcess609 via Getty Images
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    Banking technology provider Amount cuts 25% of staff

    The Chicago-based fintech, which was valued at $1 billion in 2021, has initiated its second round of layoffs in less than a year.

    By March 6, 2023
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    Silvergate closes its crypto payments network

    The abrupt closure follows an exodus of Silvergate partners and the bank's acknowledgment that it may be “less than well-capitalized.”

    By March 6, 2023
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    Sora Shimazaki/Pexels.com

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    Sponsored by Encapture

    Dodd-Frank 1071 is here: How financial institutions are preparing with automation

    Just in time for the March 31 ruling, here’s what banks are doing about it.

    By Will Robinson, CEO, Encapture • March 6, 2023
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    Sponsored by FedEx Office

    Making it work: Why linking your digital and print strategies is essential for success

    Digital content management is an essential technology for all businesses that want to thrive in today’s world.

    March 6, 2023
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    Some Celsius customers can make withdrawals now

    The bankrupt crypto lender is allowing withdrawals from some custody accounts, it said Thursday. Full funds distribution could start as soon as June.

    By March 3, 2023
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    Dan Kitwood via Getty Images
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    Partners drop Silvergate amid delays, financial review

    Coinbase, Paxos and others reconsider their relationship with the crypto-heavy bank after it delays filing its 10-K document as an audit wraps up.

    By March 2, 2023
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    Chime CTO: System optimization is key, including in a bear market

    The fintech veteran, an alum of PayPal and eBay and a self-proclaimed "eternal optimist," said he isn't afraid of the market downturn.

    By March 1, 2023
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    Dan Kitwood via Getty Images
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    Circle CFO: Trust, transparency are key to crypto’s next phase

    Stablecoin issuer Circle is moving to position itself as a player in crypto’s coming “utility phase,” and continuing its efforts to become a public company, its CFO said.

    By Grace Noto • Feb. 24, 2023
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    Courtesy of Green Dot
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    Green Dot juggles customer changes

    The banking-as-a-service company posted profits in the final quarter of last year even as it recovered from the loss of clients.

    By Lynne Marek • Feb. 24, 2023
  • founder of ftx sam bankman-fried
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    Bankman-Fried hit with 4 new charges in FTX debacle

    The charges are conspiracy to commit bank fraud, conspiracy to operate an unlicensed money transmitting business, securities fraud, and fraud with the purpose or sale of a derivative, according to unsealed filings.

    By Feb. 23, 2023
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    Fed, FDIC, OCC give banks ‘reminder’ on crypto liquidity risk

    Thursday's statement offers no new guidance but appears to elevate stablecoin-linked deposits to a heightened risk category.

    By Feb. 23, 2023