Technology: Page 38
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How neobanks are cashing in on the Gen Z market
While parents' banking habits influence their children, researchers found, the difference in those habits is getting progressively wider.
By Anna Hrushka • Nov. 10, 2021 -
Michael Nagle via Getty Images
Hiring tech talent a 'major priority' for Chase, CIO says
As competition heats up in the hiring space, some large banks are leveraging flexibility in the form of hybrid work schedules and larger salaries.
By Robin Bradley • Nov. 8, 2021 -
Explore the Trendline➔
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TrendlineThe Banking Dive Outlook on 2022
Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.
By Banking Dive staff -
Permission granted by Current
Why Current built its core technology in-house
Curbing the need for a third-party processor helps money move faster, said the fintech's CTO, Trevor Marshall. "When I think of a checking account, I think of a parking lot," he said. "Current is about movement."
By Suman Bhattacharyya • Nov. 8, 2021 -
Opinion
Is finance ready for the super-app revolution?
With a market of specialized fintech offerings and a customer base hungry for streamlined solutions, there's a race to become the provider of all services. The burden lies on the platform provider to deliver an exceptional experience.
By Kathryn Petralia • Nov. 5, 2021 -
Permission granted by Jiko
Digital bank Jiko accelerates banking-as-a-service strategy
The Jiko app is still available for consumers to download, and the company plans to keep enhancing its features, but its main use will serve as a "showroom" for Jiko's technology, CEO Stephane Lintner said.
By Anna Hrushka • Nov. 4, 2021 -
Regulators to issue policy on crypto, stablecoins, FDIC chair says
Jelena McWilliams shared details about the interagency "crypto sprint" involving the FDIC, the OCC and the Fed, and said the agencies plan to issue a series of policy statements in the coming months.
By Anna Hrushka • Oct. 26, 2021 -
Justin Sullivan via Getty Images
Why Green Dot is bullish on brick-and-mortar retail
CEO Dan Henry said he is confident Green Dot's partnerships with select retailers that are expanding help it fulfill a need for a demographic that still relies heavily on cash.
By Anna Hrushka • Oct. 26, 2021 -
Mark Wilson via Getty Images
Pandemic widens mobile's lead as preferred way to bank, survey finds
About 44% of customers rated mobile the top option since the pandemic began — an 11-point jump from pre-COVID times, according to the ABA. Over that time, in-branch visits fell by the same margin.
By Robin Bradley • Oct. 26, 2021 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo aims to debut revamped mobile app, virtual assistant next year
The bank's digital user interactions trail JPMorgan and Bank of America. But Wells last year brought onboard an executive who helped develop BofA's Erica.
By Dan Ennis • Oct. 25, 2021 -
Permission granted by Vast Bank
Vast Bank's new platform aims for the 'crypto curious'
"Banks for centuries have been safe keepers and custodians of what people value," said CEO Brad Scrivner. "And in today's world, that's now digital assets."
By Anna Hrushka • Oct. 21, 2021 -
Chris Hondros via Getty Images
Goldman Sachs, AmEx debut cloud-based payments service for corporate clients
The investment bank is partnering with the world's largest card issuer for businesses in an effort to make payments easier and more efficient for institutional clients.
By Robin Bradley • Oct. 20, 2021 -
Courtesy of Coinbase
Coinbase sees single regulator, new framework for crypto supervision
The approach would keep companies from having to comply with several agencies, which are adapting old laws to new tech, and help maintain the U.S.'s status as a "shaper" of oversight, Coinbase said.
By Dan Ennis • Oct. 18, 2021 -
Truist nets $1.6B profit, marks major conversion milestone in Q3
"We're committed to having a business that has positive operating leverage and has industry leading efficiency," new CEO Bill Rogers said Friday. "I feel more confident about that today than I did the day we announced the merger."
By Anna Hrushka • Oct. 15, 2021 -
Automation helped Black borrowers get more out of PPP at fintechs, big banks: study
"The human brain is a much scarier black box than any machine-learning algorithm," said Sabrina T. Howell, the paper's lead author. The ICBA, however, disputed some of the study's findings.
By Anna Hrushka • Oct. 12, 2021 -
Justin Sullivan via Getty Images
Andreessen Horowitz poaches 2 crypto execs from Facebook's Novi
It wouldn't be the first adversity the social network's digital currency effort has faced — nor the first time this year a pair of executives have fled an established market player in tandem for a more startup-like environment.
By Dan Ennis • Oct. 12, 2021 -
David McNew via Getty Images
Bank of America's Life Plan reaches more than 5M users
The bank said the digital feature is driving more interaction with bank staff and led to 1 million follow-up appointments — both in-person and virtually.
By Anna Hrushka • Oct. 6, 2021 -
Permission granted by U.S. Bank
U.S. Bank launches crypto custody service
Though limited to Bitcoin and its early spinoffs, the bank said it sees expansion to Ethereum and others eventually.
By Dan Ennis • Oct. 6, 2021 -
David Paul Morris via Getty Images
Google abandons plans to offer Plex checking accounts
The tech giant's decision to scrap its Plex checking accounts comes after a series of project delays and the March departure of Caesar Sengupta, the Google Pay executive who headed the project.
By Anna Hrushka • Oct. 4, 2021 -
H. Armstrong Roberts via Getty Images
4 credit unions launch neobank aimed at LMI users
Dora's checking account doesn't have a minimum balance requirement or monthly maintenance fees. Its app functions in both English and Spanish, and the platform offers early paycheck access with direct deposit.
By Robin Bradley • Sept. 30, 2021 -
Noam Galai via Getty Images
ColumnRobinhood, Revolut and PayPal play business-model musical chairs
New products have Revolut trying its hand at Robinhood's game, Robinhood looking to Coinbase, and PayPal seeing if high-yield savings a la Marcus would be a good fit.
By Dan Ennis • Sept. 24, 2021 -
Courtesy of Wells Fargo multimedia resources
Inside Wells Fargo's multicloud strategy
Companies often use multiple cloud providers in practice, but high-profile work is aligned with one. The first five years will focus on migrating most existing applications into the public cloud, a bank executive said.
By Naomi Eide • Sept. 22, 2021 -
Courtesy of Coinbase
Coinbase scraps crypto lending product under fire from SEC
The company is also discontinuing its waitlist for Lend, a product that would have let users earn 4% interest by lending their holdings of a stablecoin to other customers.
By Dan Ennis • Sept. 21, 2021 -
Courtesy of https://www.varomoney.com/press/
Varo's latest $510M funding round validates bank charter decision, exec says
The bank, now reportedly valued at $2.5 billion, plans to use the new funding on account growth, brand building, its product roadmap and operational and risk management infrastructure.
By Anna Hrushka • Sept. 17, 2021 -
Business failure helped Chime CFO build resilience
Having a business that didn't succeed past its venture stage gave Matt Newcomb a big-picture view that informs his strategic mindset at the fast-growing fintech.
By Robert Freedman • Sept. 15, 2021 -
Anna Hrushka/Banking Dive
How BankMobile pivoted its business model in the face of competition
"Our pillar of being able to have a profitable, sustainable model — and as fast as possible — wasn't happening," CEO Luvleen Sidhu said. "It's challenging when you have other challenger banks spending half a billion dollars on marketing."
By Anna Hrushka • Sept. 15, 2021
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