The $18.5 billion-asset institution saw member growth increase by 22% year-over-year and fund levels surge in the first six months of last year after deploying a new deposit origination platform.

The biggest banks need to get creative about the kinds of products and services they offer, and their efforts to attract a broader customer base.

Republican legislators and the American Fintech Council expressed worries recently over how the FDIC has managed its innovation efforts, highlighting the significant changes to an office established to head those efforts.

The San Francisco company entered into a pact with its regulator when it acquired Radius Bank three years ago. "The operating agreement, by design, in some ways slows you down," said CEO Scott Sanborn.

Top House Financial Services Committee Republicans questioned the Federal Deposit Insurance Corp.'s stance on innovation, and said they were worried about the impact that would have on the bank examination process.

Challenger banks, like traditional banks, are under pressure to operate with fewer expenses. Artificial intelligence is part of the answer, and the impact on the workforce may be profound.

In this month's roundup of popular tech news: SEC responds to successful hack on its X account, community banks get closer to fintech hubs, the Office of the Comptroller of the Currency weighs in on Blue Ridge Bancshares and more.

The risk of harm to users' financial health is much greater with direct-to-consumer advances than it is from earned wage access programs.

The neobank doubled its membership to five million consumers and hired 200 people last year. Founder and CEO Renaud Laplanche explains how it fared during a time when many fintechs struggled.

Fintechs that jump ship to more stable sponsor banks need to prove they have a solid business and take compliance seriously.