Technology: Page 8
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Permission granted by Unit Finance
Unit launches business continuity tool for bank partners of fintechs that fail
If a fintech powered by one of Unit’s partner banks fails, the bank can immediately connect to end users, with no service disruption, CEO Itai Damti said.
By Gabrielle Saulsbery • Aug. 28, 2024 -
Just_Super via Getty Images
Abra settles SEC charges over unregistered securities
All assets, plus interest, have been returned to Abra Earn customers since the program shuttered in 2023, CEO Bill Barhydt said Monday on social media.
By Gabrielle Saulsbery • Aug. 27, 2024 -
Explore the Trendline➔
da-kuk via Getty Images
TrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
Dan Kitwood via Getty Images
Kraken must face SEC lawsuit, judge rules
The Securities and Exchange Commission sued the crypto firm in November for allegedly operating an unregistered securities exchange. A judge denied Kraken’s motion for dismissal Friday.
By Gabrielle Saulsbery • Aug. 26, 2024 -
Permission granted by Kenady Ghent
Zions vet looks to optimize TAB’s ‘sweet spot’ as new CIO
“Technology can be as critical an enabler as you want it to be,” said Tami Fisher, who spent 18 years at the Salt Lake City regional before jumping to TAB in July.
By Caitlin Mullen • Aug. 26, 2024 -
Leon Neal / Staff via Getty Images
Partner of former FTX exec hit with campaign finance charges
Now, Ryan Salame has asked a New York judge to void his guilty plea, which he attests was made following a verbal agreement with prosecutors that they would drop their probe into his partner Michelle Bond.
By Gabrielle Saulsbery • Aug. 23, 2024 -
heyengel via Getty Images
Lettuce Financial gets $15M in fresh funding
The tax and accounting fintech has had a busy year announcing two funding rounds, launching a major product and inking several partnerships to serve the solopreneur community.
By Gabrielle Saulsbery • Aug. 21, 2024 -
Permission granted by Money 20/20
Q&AMarqeta CEO says his platform is no ‘single-trick pony’
Simon Khalaf cites the need for banks to change their behavior to focus on customer service. He also says upcoming underwriting tech could put the banking sector “on steroids.”
By Rajashree Chakravarty • Aug. 21, 2024 -
Courtesy of U.S. Bank
U.S. Bank doubles down on AR with Billtrust
The Minneapolis-based bank’s new offering seeks to accelerate the accounts receivable process — sometimes viewed as a laggard in the race to automate finance.
By Maura Webber Sadovi • Aug. 20, 2024 -
Michael M. Santiago / Staff via Getty Images
Goldman CTO to leave for Citadel: report
Atte Lahtiranta, Goldman’s top tech exec since 2019, becomes the bank’s latest high-profile departure in a year when other alums have gone on to run other banks, crypto firms and a Fed outpost.
By Dan Ennis • Aug. 20, 2024 -
Michael M. Santiago / Staff via Getty Images
JPMorgan, Zelle may have upper hand if litigation ensues
If the banks that own Zelle’s parent battle the Consumer Financial Protection Bureau in court, they may find some federal judges open to their arguments, said lawyers specializing in the area.
By Patrick Cooley • Aug. 16, 2024 -
Drew Angerer via Getty Images
How embedded payments are changing the way we pay
As payments technology advances, more companies are embedding the payments process in websites and apps. Here’s a primer on how this trend is advancing and changing the payments arena.
By Patrick Cooley • Aug. 14, 2024 -
Courtesy of Funding Circle UK
TrackerA running list of fintech layoffs in 2024
Thousands of fintech employees have been let go since the start of the year. Many firms cited cost cuts.
Aug. 9, 2024 -
Leon Neal / Staff via Getty Images
FTX to pay $12.7B to fraud victims
An order by a New York judge resolves a lawsuit filed by the Commodity Futures Trading Commission in late 2022 and permanently bans FTX from trading digital assets.
By Gabrielle Saulsbery • Aug. 9, 2024 -
Chip Somodevilla via Getty Images
Ripple to pay $125M penalty in XRP case against SEC
The fine was not nearly the $2 billion the SEC sought. The judge in the case, though, issued an injunction requiring Ripple to register if it intends to sell securities in the future.
By Dan Ennis • Aug. 8, 2024 -
Truist names JPMorgan, Wells vet as next CIO
Steve Hagerman spent 17 years and five years at JPMorgan and Wells Fargo, respectively. He will replace interim CIO Brad Bender in October.
By Gabrielle Saulsbery • Aug. 8, 2024 -
Courtesy of Whataburger
JPMorgan fires up biometric payments processing
The biggest U.S. bank is piloting payments processing for biometric transactions, with plans to use it at the hamburger chain Whataburger, which lets customers pay with a face scan.
By Lynne Marek • Aug. 7, 2024 -
Dan Kitwood via Getty Images
Genesis completes restructuring, begins payouts
The company filed for bankruptcy in January 2023. User funds had been frozen since November 2022 when the crypto lender ran into liquidity issues following the collapse of FTX.
By Gabrielle Saulsbery • Aug. 5, 2024 -
Lynne Marek/Banking Dive
Outdated tech could slow instant payment adoption: survey
Financial institutions expect business clients to be a driver of instant payment revenue, but adopting the technology comes with hurdles, the results of a recent survey showed.
By Tatiana Walk-Morris • Aug. 2, 2024 -
Courtesy of Fifth Third
Fifth Third’s Newline to expand Stripe’s embedded financial services
“Maybe we’re just a little too Midwest humble about it, but Newline isn’t new to this,” Newline GM Tom Bianco said. Working with Stripe, he said, reinforces that it is, and has been, “a real force.”
By Gabrielle Saulsbery • July 31, 2024 -
Permission granted by Flushing Bank
How Flushing Bank stays cyber-safe
CEO John Buran credits “measured” growth rate and solid teamwork for putting his $8.8 billion-asset institution atop Forbes’s cybersecurity list.
By Gabrielle Saulsbery • July 31, 2024 -
Michael M. Santiago via Getty Images
Wells Fargo hires BNY’s ex-CIO to serve as tech chief
Bridget Engle comes to Wells next month after seven years at BNY. Wells also tapped its previous tech chief, Tracy Kerrins, to lead a new generative AI team.
By Dan Ennis • July 31, 2024 -
Matt Winkelmeyer via Getty Images
Stripe buys software rival Lemon Squeezy
The San Francisco payments giant bought the 4-year-old Salt Lake City startup as it continues its global expansion.
By Patrick Cooley • July 30, 2024 -
Spencer Platt via Getty Images
Trump pledges to fire Gensler, support crypto
The Republican presidential nominee told Bitcoin 2024 attendees that, if elected, he will hire advisers who “want to see your industry thrive, not dive.”
By Gabrielle Saulsbery • July 29, 2024 -
Kate Tornone/Banking Dive
Q&ACitizens CIO: ‘Human in the loop’ still key for banks using genAI
The bank won’t employ direct-to-consumer applications of generative AI in 2024, the executive said, adding he envisions it happening in a year or so.
By Caitlin Mullen • July 26, 2024 -
Permission granted by Jiko
Fed cites digital bank Jiko over capital planning woes
The central bank is requiring the startup, which bought a bank in 2020, to submit a liquidity risk management plan with steps to diversify its funding sources and enhanced stress test scenarios.
By Dan Ennis • July 24, 2024
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