Plaid named Cloudflare's Jen Taylor as its first president as the financial-technology company continues to diversify its products and readies itself for a public listing.

The San Francisco-based electronic signature company's chief executive Allan Thygesen announced Tuesday that roughly 400 employees across the company were being let go as part of restructuring for the 2025 fiscal year.

"Some difference of views has emerged" between the Dutch banking regulator and two U.S. counterparts — the OCC and FDIC, bunq told American Banker.

Financial institutions' fintech partnerships are facing higher levels of scrutiny. More consistent and direct monitoring of their partners can put them in a better position.

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.