Traditional banks mirror challengers with new digital offerings

"There's a story behind every one of these kinds of overdrafts," said Jimmy Stead, chief consumer banking officer at Frost Bank, which launched an overdraft grace feature last month.

By Anna Hrushka • May 7, 2021

Citi sits on the cusp of a crypto push

The bank, however, won't make any rash decisions on digital asset offerings. "This isn't a space race," Itay Tuchman, Citi's head of global foreign exchange, told the Financial Times. "There is room for more than just one flag."

By Dan Ennis • May 7, 2021

Explore the Trendline➔

The 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

California regulator orders Chime to stop calling itself a bank

The fintech has until May 15 to revise its website and advertising in accordance with the California regulator's order and has until June 15 to perform quality control and testing of the changes.

By Anna Hrushka • May 6, 2021

FIS links with NYDIG to offer Bitcoin services

The rise in Bitcoin's value over the past year has spurred a host of companies to rethink their initial skepticism of cryptocurrencies.

By Lynne Marek • May 5, 2021

Cryptocurrency startup Ripple hires new CFO amid SEC lawsuit

Kristina Campbell spent five years as CFO of billing and payments firm PayNearMe and, previously, served in various operations and management roles at fintech Green Dot.

By Jane Thier • May 5, 2021

Massachusetts credit union blends tech, financial-coaching focus

Workers Credit Union's latest branches feature interactive holograms, video ATMs — and employees aiming to de-stigmatize money.

By Anna Hrushka • May 4, 2021

How Quontic Bank adapts to crypto, remote work and wearable tech

Since purchasing the institution in 2009, CEO Steven Schnall, an entrepreneur and former mortgage banker, has been molding the bank to reflect his vision.

By Anna Hrushka • April 30, 2021

First Horizon breach highlights rising cyber threats against banks

The compromise affected fewer than 200 online accounts for a loss of less than $1 million. But three-quarters of financial institutions saw a rise in cybercrime in the year after March 2020, according to a BAE Systems report.

By David Jones • April 29, 2021

Neobank Current adds crypto to product roadmap after $220M funding boost

"There is a need and a demand for a company like Current to explain and shepherd people into this new world," CEO Stuart Sopp said.

By Anna Hrushka • April 28, 2021

Barclays US to offer merchants buy-now-pay-later feature

"We plan to use this to supercharge our growth and give our partners and our customers more options to buy stuff with," said Barclays US CEO Denny Nealon.

By Anna Hrushka • April 27, 2021

What now? 3 steps for taking a post-COVID approach to FSI customer engagement

Learn 3 steps to accelerate digital-first customer engagement in the post pandemic world.

April 26, 2021

Crypto exchange Binance hires ex-OCC chief Brooks as US CEO

Hiring an executive with intimate knowledge of U.S. regulations presumably would help the exchange, initially based in China, expand its stateside operations without raising red flags.

By Dan Ennis • April 20, 2021

Policy questions remain as global governments explore CBDCs

Bank Policy Institute's chief examines the impact and drawbacks of various models of digital coin as the Fed and other countries forge ahead.

By Anna Hrushka • April 19, 2021

JPMorgan Chase reports $14.3B profit, boosted by $5.2B reserve release

During a call with analysts, CEO Jamie Dimon teased several upcoming features, including personalized apps, robo investing and global wallets, as the bank tries to keep pace with fintech innovations.

By Anna Hrushka • April 14, 2021

With neobank purchase, Avant mirrors SoFi's path

Buying Level gives Avant direct access to customers' account information, allowing it to look at people's cash flow, spending, bill pay — data points for which Avant currently pays an aggregator.

By Dan Ennis • April 13, 2021

Niche banking could safeguard challengers, incumbents from big tech, retail threat

In his annual shareholder letter, JPMorgan CEO Jamie Dimon said the strengths of Amazon, Apple, Facebook, Google and Walmart are "extraordinary, with ubiquitous platforms and endless data."

By Anna Hrushka • April 9, 2021

State Street leans ever so slightly into crypto

Through a partnership with U.K.-based Pure Digital, the infrastructure the bank’s Currenex unit uses in foreign exchange will be transposed to the crypto space for a trading platform set to launch in mid-2021.

By Dan Ennis • April 9, 2021

Membership-based neobank Fair would target immigrants, unbanked

Houston entrepreneur Khalid Parekh, who founded the tech firm Amsys Group, said the platform's portfolio of services will help differentiate it from neobanks already serving the space.

By Anna Hrushka • April 8, 2021

Walmart's trademark filing may offer clues to fintech startup

The litany of services "Hazel by Walmart" intends to provide ranges from credit and debit card payment processing services to financial portfolio analysis, credit repair and restoration and virtual currency transaction processing.

By Dan Ennis • April 8, 2021

Chance for early feedback spurs banks to join FedNow pilot program

More than 110 organizations are participating in the real-time payment effort, which is still slated for a 2023 debut.

By Anna Hrushka • April 6, 2021

SoFi to offer auto loan refinancing through MotoRefi partnership

The deal with the Arlington, Virginia-based startup represents the latest product expansion by SoFi as it continues its push to become more than a student loan fintech.

By Anna Hrushka • April 5, 2021

Robinhood axes its signature celebratory confetti displays

"If the focus of a conversation is around confetti and not around these people taking these first steps … then we've done something that's just off base," the company's senior director of product management said.

By Dan Ennis • March 31, 2021

KeyBank's digital bank for doctors gets national launch

The bank expects to add checking and retail investments to the platform this year, and to expand digital banking services to a market that includes pharmacists, physician assistants, nurses and therapists.

By Anna Hrushka • March 30, 2021

Greenwood raises $40M in funding with investments from 6 major banks

Led by Truist Ventures, the digital bank's funding round includes investments from JPMorgan Chase, Bank of America, Wells Fargo and PNC, in addition to payments giants Mastercard and Visa.

By Anna Hrushka • March 25, 2021

Novo expands products, welcomes surge in users from Azlo

Novo said it gained 20,000 former Azlo customers in the 2½ months since Spanish lender BBVA said it planned to shutter the entrepreneur-focused startup.

By Anna Hrushka • March 23, 2021