Banking startup Chime reports it has 8 million customers
Bank Innovation
FEBRUARY 19, 2020
is part of a fast-growing class of well-funded financial technology startups offering debit cards, checking accounts and other financial […].
GAO issues report on fintech products; recommends CFPB clarify when earned wage access products are “credit” under Truth in Lending Act
CFPB Monitor
MARCH 14, 2023
The Government Accountability Office (GAO) has issued a new report entitled “Financial Technology: Products Have Benefits and Risks to Underserved Consumers, and Regulatory Clarity Is Needed.”
Fintech 
145
145 Join 50,000+
Insiders
Sign Up for our Newsletter
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Trending Sources
User Experience Is Key to Customer Satisfaction, Report Says
Bank Innovation
APRIL 17, 2019
Having a "frictionless" user experience (UX) is among the top three qualities that bank customers look for when picking a new bank, right after "security" and "trustworthiness," according to a new report by financial technology provider, FIS.
User Experience 170
170 
CADFPI announces hiring of Christina Tetreault to lead Office of Financial Technology and Innovation
CFPB Monitor
MAY 21, 2021
The California Department of Financial Protection and Innovation announced earlier this month that it has hired Christina Tetreault to lead the new Office of Financial Technology and Innovation. Tetreault most recently served as Manager of Financial Policy for Consumer Reports. Tetreault, Ms.
OCC reports on proposed innovation pilot program to Congress
Bank Innovation
JUNE 27, 2019
On Tuesday, Beth Knickerbocker, the chief innovation officer for the Office of the Comptroller of the Currency (OCC), delivered testimony to the House of Representatives' Task Force on Financial Technology. The Innovation Pilot Program would […].
Innovation 170
170 
The Financial Technologies SMEs Aren’t Using
PYMNTS
MARCH 13, 2017
That call for tax software adoption could be heard: According to the report, 21 percent of small businesses that are planning on changing their tax filing behavior this year also said they are looking into using more technology and reducing their dependence on paper. 37 percent of SMEs in the U.K. More than half use Twitter, too.
10 Financial Technology Podcasts: Mortgage, Banking and More
William Mills
JANUARY 2, 2020
51% of Americans report having listened to a podcast at least once in their lives, and they have quickly become regular background content while many of us multitask activities such as driving, grocery shopping or even household chores. Enter the podcast.
Wirecard Reportedly Fined Millions By Visa, Mastercard For Questionable Transactions
PYMNTS
JULY 27, 2020
The Wall Street Journal reported on Monday (July 27) that Visa and Mastercard each fined Wirecard in excess of $10 million more than a decade ago for suspicious transactions. Visa and Wirecard declined to comment, according to the report. Typically, merchants pay 2 percent to 3 percent transaction fees for U.S. credit card purchases.
Report 151
151 
Green Dot Stock Up After Upbeat Earnings Report
PYMNTS
FEBRUARY 20, 2020
Green Dot reported its earnings for its fourth quarter ending Dec. The company also reported non-GAAP total operating revenues of $238.4 based financial technology and bank holding company that operates in the realm of “branchless” banking or using a bank without actually going to a particular financial institution.
Report 130
130 
Grab Reportedly Considered Acquiring 2C2P Pte
PYMNTS
JUNE 13, 2019
In a sign of Grab ’s ambitions in the financial services space, the Singapore ride-hailing firm reportedly had discussions to acquire payments provider 2C2P Pte. Unnamed sources claim that the company was one of various possible bidders interested in the payments firm, Bloomberg reported. The news comes as Grab raised over $4.5
Report 100
100 
Fintech focused on ditching expense reports becomes a unicorn
Payments Source
JANUARY 5, 2021
Divvy, the financial-technology company that offers corporate cards and expense-management software to small businesses, said it’s now valued at $1.6 billion after raising money from investors including PayPal Holdings Inc.
Report 120
120 
Mexico And Amazon Reportedly Collaborating On Mobile Payments System
PYMNTS
MARCH 5, 2019
The Mexican central bank and Amazon are in talks to introduce a government-approved mobile payment system, according to reports. The system would involve users paying for online purchases using QR codes, and it would be the first time Amazon offered the technology in the country.
System 173
173 
Intuit Reportedly Set To Spend $7B To Buy Credit Karma
PYMNTS
FEBRUARY 23, 2020
Joining forces would have the benefit of allowing both companies to hone their recommendations to customers, as the amount of financial data they have access to would be greatly expanded.
Report 180
180 
Worldline-Ingenico deal tops Berkery Noyes fintech M&A report
Payments Source
JANUARY 12, 2021
billion acquisition of terminal and payments technology provider Ingenico last February marked the most notable payments transaction in 2020, according to the annual mergers and acquisitions data of the financial technology industry report from investment bank Berkery Noyes. Worldline's $10.9
Report 67
67 
SoftBank Reportedly Tapping Into Online Used Car Trend
PYMNTS
AUGUST 12, 2019
According to Reuters , SoftBank “is in advanced talks to invest in Mexican used car platform Kavak and financial technology firm Konfio, several people familiar with the matter said, underscoring the company’s interest in Mexico as it pours money into Latin America. The latest evidence of that comes via Japan-based SoftBank.
Trends 115
115 
Rethinking the middle office: Solving buy-side challenges with financial technology
Bobsguide
MARCH 13, 2018
New regulatory mandates require support for collateral management, risk reporting and commission unbundling. Once considered simply a conduit between the front and back office, the middle office is playing a more active part in the investment process for buy-side firms. Expansion into new.
Bitcoin Daily: Binance Denies Reports Of Police Raid; Blockchain Expands To Gaming Payments
PYMNTS
NOVEMBER 21, 2019
“Ubisoft’s rich portfolio of world-renowned brands — including Assassin’s Creed, Just Dance and Far Cry — is a testament to their dedication to creating quality content for all, and their years-long dedication to exploring blockchain technology ensures they have the knowledge and skills to be excellent block producers.”.
Bitcoin 130
130 
Common Cents And MetLife Unveil Annual Report
PYMNTS
FEBRUARY 8, 2017
But thanks to strides made in financial technology, consumers now have the ability to automate practically any bill payment, as well as a plethora of financial planning tools. Duke University’s financial research lab, Common Cents, teamed up with MetLife Foundation on financial behavioral research and today (Feb.
Report 100
100 
Europe Leads in BaaS Activity: BaaS Report 2019
Let's Talk Payments
NOVEMBER 17, 2019
MEDICI and Open Financial Technologies together released an in-depth 40+ page report on Banking-as-a-Service on October 11, 2019, at the Singapore FinTech Festival. Read more
Report 52
52 
NEW REPORT: How Banks Are Driving API-First Strategies
PYMNTS
SEPTEMBER 13, 2017
New payment and financial technologies are quickly emerging from the FinTech community, all with the promise of expediting payments and reducing the distance between cross-border trading partners.
Strategy 190
190 
Standard Chartered Establishes Investment Unit for Fintech
Bank Innovation
JANUARY 17, 2018
London bank Standard Chartered has created an investment unit for financial technologies and innovation, the bank reported today. Under the heading ‘SC Ventures,’ the unit will focus on the bank’s existing “minority investments in fintech,” as reported by Reuters, while also searching for new fintech investments.
Fintech 249
249 
Today In Digital-First Banking: German Neobank N26 Eyes IPO With New CFO; Goalsetter Lands $3.9 Million Seed Investment
PYMNTS
JANUARY 25, 2021
In today’s top digital-first banking news, German neobank N26 has hired a new chief financial officer (CFO) as it eyes a future initial public offering (IPO), while FinTech app Goalsetter has raised $3.9 N26 has brought Dr. Jan Kemper on board as its new CFO as the Germany-based financial technology firm eyes a future possible IPO.
Phoenix 187
187 
The lies spread by bankers about cryptocurrencies
Chris Skinner
MARCH 19, 2018
I had a chat with The Financial Times the other day, and provided lots of background as to why I don’t think cryptocurrencies are the choice of criminals.
cryptocurrency 310
310 
Report: Data Key To Credit Union Member Retention
PYMNTS
AUGUST 27, 2019
Financial technology continues to grow more sophisticated, but many of these innovations are solely for the large banks and FinTechs that can afford them. The merger is the latest in a series of CU consolidations in the Los Angeles area, which has resulted in the number of CUs in the area dropping by nearly 60 percent since 2000.
Data 122
122 
Bottomline's Paymode-X opens access to its B2B payment network
The Paypers
OCTOBER 26, 2023
Financial technology provider Bottomline has reportedly opened access to its B2B payment network to financial institutions, fintechs, and others.
Payments 81
81 
Americans Prefer EMV Chip Payment Over Swiping Cards
Bank Innovation
APRIL 17, 2018
Americans prefer paying with EMV chip cards to swiping their cards or even paying with cash, according to a recent survey from financial technology solutions provider Fiserv. According to the report, released last week, 36% of the people surveyed said they preferred EMV chip cards to other payment methods.
Cards 199
199 
24 Big European Banks Take On Visa, Mastercard With Their Own Payment System
PYMNTS
JULY 1, 2020
A group of big European banks is planning to challenge Visa ’s and Mastercard ’s positions as the world’s two largest payment processing networks, Electronic Payments International reported. . The launch, first reported by Les Échos, is expected to be revealed by the 24 banks as early as Thursday (July 2). .
System 327
327 
Tencent Will Increase Investment in Payments, AI
Bank Innovation
AUGUST 17, 2017
Tencent Holdings will be increasing its investments in financial technologies like artificial technologies and in payments, the company stated during its earnings call yesterday. The decision to enhance these types of investments comes after the company reported a record net income of about $2.7
Payments 255
255 Stripe reportedly invests in Pakistan-based Safepay
The Paypers
FEBRUARY 15, 2021
Fintech Safepay has reportedly acquired seed funding from global financial technology company Stripe , according to Crowdfund Insider.
Report 31
31 
Wirecard’s Former CEO Markus Braun Arrested
PYMNTS
JUNE 23, 2020
Ex-Wirecard CEO Markus Braun was arrested Monday night (June 22) in the latest chapter that has rocked the German payment services provider, the Financial Times reported. Braun allegedly committed the scam with others, investigators said, but no one else had been named at press time, according to the report. billion euros ($2.1
Fraud 318
318 
VC Firm Greycroft Raises $680M In Search Of Next Venmo, Subscription Startups
PYMNTS
OCTOBER 6, 2020
The firm plans to invest $310 million in early-stage startups and $370 million in growth-stage startups, the report stated. Venture capital firm Greycroft , based in New York and Los Angeles, has raised $680 million to fund new startups, according to Bloomberg , looking for "the next Bumble or Venmo.".
Los Angeles 294
294 International payments firm TransferWise reports doubling revenue
Payments Source
NOVEMBER 16, 2017
the London-based international payments firm and one of Europe’s largest financial technology startups, said revenue in the fiscal year through March 2017 has more than doubled, allowing the company to post its first annual profit. TransferWise Ltd.,
Report 63
63 FTC sends 2016 ECOA report to CFPB
CFPB Monitor
FEBRUARY 13, 2017
The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. Big data report. In June 2016, the FTC launched a series of forums exploring emerging financial technology and its implications for consumers.
Report 68
68 
Fiserv Gets Revenue Boost from Zelle
Bank Innovation
AUGUST 1, 2018
Zelle made a difference to the bottom line of financial technology provider Fiserv, the company reported on its earnings call yesterday. It was also noted that several banks — Fiserv serves some 13,000 financial institutions — saw a boost in transactions due […].
Ant Group Curbs Credit Limits Of Some Users Of Virtual Credit Cards
PYMNTS
DECEMBER 23, 2020
That arm of the financial technology (FinTech) giant offers a virtual credit card. The company said that the move was an effort to promote more “rational” spending habits among users, Reuters reported. Ant is the financial arm of Alibaba, which could be the world’s biggest eCommerce company. The company did not elaborate.
Groups 242
242 
Legislators Work On Proposal For Japan To Create Its Own Crypto
PYMNTS
JANUARY 24, 2020
However, Japan is not likely to issue crypto in the near future because of the legal and technical obstacles, Reuters reported. The news comes after it was reported that the People’s Bank of China (PBOC), the central bank of China, said it had completed the “top-level” design of its proposed cryptocurrency.
cryptocurrency 252
252 
MoneyGram Teams With Korean FinTech To Boost Digital Growth
PYMNTS
JUNE 23, 2020
GME) one of the largest payment financial technology companies in South Korea, according to a Tuesday (June 23) announcement by MoneyGram. Last month, Dallas-based MoneyGram reported its digital transactions grew by 57 percent in the first quarter, compared to Q4 of last year. Money transfer company MoneyGram International Inc.
Fintech 250
250 
OCC Considers Artificial Intelligence an Emerging Risk in Banking
Perficient
DECEMBER 22, 2023
While recognizing the potential benefits AI offers to both consumers and banks, the OCC remains vigilant about associated risks. However, there remains a hopeful expectation for the development of new guidance and standards in this domain, as well as the establishment of AI-specific bank regulators to intelligently examine banks utilizing AI.
Risk Management 221
221 
Big banks poised to scoop up fintech startups, report finds
Payments Source
APRIL 6, 2017
Big banks may have scoffed when a gaggle of financial technology upstarts promised to reinvent their business. Now they want to buy them.
Report 69
69 
Grab-Singtel Ramps Up Hiring For Singapore Bank; Plans 2022 Launch
PYMNTS
DECEMBER 6, 2020
will hire 200 people before launching publicly in early 2022, Bloomberg reported. Bloomberg reported that Charles Wong , who will be chief executive of the new digital bank, said in an online briefing Friday night that the 200 new hires will work in technology in general — and in some cases, financial technology in particular.
Digital Banking 170
170 
Uber Creates Uber Money Team In India With FinTech Focus
PYMNTS
FEBRUARY 11, 2020
In a move that bolsters its financial technology presence in India, Uber has put an Uber Money team into place in Hyderabad. Uber Money teams are also located in Palo Alto, Amsterdam, New York and San Francisco tech centers, Livemint reported. of India (NPCI). percent business stake per news in January.
San Francisco 186
186 
Chinese Official: Ant IPO Could Get Back On Track When Issues Are Resolved
PYMNTS
JANUARY 26, 2021
Bloomberg reported that People’s Bank of China Governor Yi Gang said regulatory agencies are, in relation to Ant, still looking into issues surrounding potential monopolies. While Ant calls itself a financial technology company (FinTech), China’s financial regulators are starting to view it as being more like a bank.
Regulation 238
238 
Intuit Buys Credit Karma For $7.1B
PYMNTS
FEBRUARY 24, 2020
24), according to published reports. Consolidation of this kind has been sweeping the financial technology sector as of late, with Intuit’s deal just the latest example. Intuit closed a deal to buy Credit Karma for a price tag of $7.1 billion on Monday (Feb. The company is now worth more than $74 billion.
UK Financial Watchdog Says Wirecard Cooperative But Assets To Stay Frozen
PYMNTS
JUNE 29, 2020
billion accounting scandal, but restrictions on the collapsed German payments company will stay, Reuters reported. “We We cannot lift the restrictions without reassuring ourselves that the firm has been able to satisfy all our concerns, for example that all clients’ money is safe,” the Financial Conduct Authority (FCA) said in a statement.
Taxes 223
223 
Let's personalize your content