Powell reiterates 'no-rush' stance on Fed's digital dollar

Powell insists on Congress's approval before proceeding with a CBDC, but researchers are hoping to unveil prototypes as early as July. Meanwhile, the Senate's new banking panel chair is calling for faster action.

By Dan Ennis • March 23, 2021

Stripe faces building pressure for a go-public strategy

Stripe's Irish co-founder brothers will be balancing the views of management, investors and bankers in deciding the best path to fund the company's future.

By Lynne Marek • March 22, 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

Coinbase settles CFTC 'wash trading' probe for $6.5M

The settlement comes as the cryptocurrency exchange is delaying until next month its hotly anticipated IPO, but a CFTC commissioner said the enforcement action is a poor reflection of the regulator's priorities.

By Dan Ennis • March 22, 2021

Digital bank for immigrants opens meet-up space in Miami

It's not typical for a digital bank to open a physical location in an effort to connect with customers, but Majority's CEO said it's important to have a presence in the communities they serve.

By Anna Hrushka • March 18, 2021

Crypto, ESG and office returns: Banks show when they would — and would not — rather be first

As Morgan Stanley and BNY Mellon look to one-up each other on digital assets, JPMorgan and Bank of America find themselves in opposing camps over how they will host summer internships.

By Dan Ennis • March 18, 2021

How U.S. Bank tripled its digital account openings

"It was taking customers 10 minutes to get through this application, and that's just way too long," said Jonathan Burns, the bank's senior vice president and head of digital sales experience.

By Anna Hrushka • March 17, 2021

BofA banks on virtual reality to train workers for the 'moments of truth'

Immersive learning technology complements existing training resources, a company executive said, but it is not a replacement for all training.

By Ryan Golden • March 17, 2021

Brian Brooks, former OCC acting chief, joins blockchain startup

The new role places Brooks in a position where he can continue his push for the inclusion of blockchain and cryptocurrency in the financial sector, actions he took during his tenure at the helm of the bank regulator.

By Anna Hrushka • March 15, 2021

Banking in the age of disruption: Can traditional banks take on Finserv innovators?

The rise of fintech has reenergized the innovation agenda and digital transformation of many traditional institutions. Can traditional banks take on Finserv innovators?

By George Phipps, Director of Product Marketing • March 15, 2021

Challenger Cheese aims to fill banking gap in US's Asian, immigrant communities

The platform supports social causes by allowing users to donate to Asian and immigrant-owned businesses, at-risk communities and charitable organizations with each purchase.

By Anna Hrushka • March 10, 2021

JPMorgan to pull Chase Pay from merchant apps, sites March 31

The bank announced in 2019 it would shut down the platform's stand-alone app. Merchant acceptance — about 1% in 2019 — has paled in comparison to competitor Apple Pay's 40%.

By Robert Freedman • March 10, 2021

Plaid payroll product streamlines income verification

Plaid Income is the second product the company has launched since the termination of a proposed $5.3 billion tie-up with Visa, signaling the scrapped deal is not slowing the expansion of the fintech's suite.

By Anna Hrushka • March 8, 2021

Inside Marqeta's plans to grow its 'card-as-a-service' offering

The card issuer and processor is differentiating through a flexible, API-based platform that helps clients launch card offerings in months instead of years.

By Suman Bhattacharyya • March 3, 2021

Goldman crypto trading desk relaunch portends softer industry stance on Bitcoin

The bank follows BNY Mellon and JPMorgan in greater crypto acceptance, in a reversal from a May report in which Goldman called Bitcoin an "unsuitable investment." Citi this week said the currency is at a "tipping point."

By Dan Ennis • March 3, 2021

Can banks win in the booming buy-now-pay-later space?

While BNPL represents a relatively small niche of the payments ecosystem, banks should take note of what the growth of that silo says about the next generation of consumers, one consultant said.

By Anna Hrushka • March 2, 2021

Goldman loses 4 executives in 3 days as Walmart fintech poaches Marcus chief

The bank's general counsel and asset-management co-head are also reported to be leaving.

By Dan Ennis • Updated March 3, 2021

JPMorgan finds balance between aiming for the stars, down-to-earth giving

The bank recently partnered with Danish satellite manufacturer GOMspace to see how blockchain technology could power transactions between satellites orbiting the earth.

By Dan Ennis • Feb. 25, 2021

Tether, crypto exchange Bitfinex to pay $18.5M to settle NY probe

Tether will give officials quarterly reports on its reserves and end trading with the state's residents in an agreement that ends a two-year investigation into allegations it hid the loss of $850 million in client and corporate money.

By Dan Ennis • Feb. 24, 2021

New FDIC CIO: 'Technology is the best enabler of banking the unbanked'

"I think the vectors of success for dealing with the unbanked are going to be digital in nature," said Sultan Meghji, who worked on an aid mission to help implement digital banking in Kenya, Tanzania and Uganda.

By Anna Hrushka • Feb. 23, 2021

Yes? No? Investment platform Kalshi will let users bet on event outcomes

Co-founder Tarek Mansour imagined the concept while interning at Goldman Sachs ahead of the Brexit vote. The company completed a $30 million funding round, aims to launch in March and has earned CFTC approval.

By Dan Ennis • Feb. 18, 2021

Greenwood taps fintech veteran to head compliance, risk

Lynn Tillman-Cherry said she expects the digital bank to adopt a regtech solution for its compliance program, with a focus on emerging technologies such as artificial intelligence.

By Anna Hrushka • Feb. 16, 2021

U.S. Bank partners with construction software firm amid booming homebuilders market

Built’s technology streamlines the sector's labor-intensive lending process by bringing all relevant parties onto one digital platform.

By Anna Hrushka • Feb. 11, 2021

BNY Mellon commits to holding, transferring and issuing crypto

The New York-based bank said Thursday it is developing a client-facing prototype for a multi-asset digital custody and administration platform set to roll out this year.

By Dan Ennis • Feb. 11, 2021

OCC conditionally approves second crypto firm for trust charter

Seattle-based Protego intends to provide custody services for its clients' digital assets — and, eventually, a client-to-client lending and trading platform. The company has 18 months to meet the regulator's terms.

By Dan Ennis • Feb. 8, 2021

'PPP fatigue' sends lenders to Customers Bank's white-label service

"It's very difficult to build what we built," said Sam Sidhu, the bank's vice chair and COO. "We thought that this would resonate well with other banks and we were right."

By Anna Hrushka • Feb. 4, 2021