Fintech
Fintech
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A panel at CBA Live explored the contract provisions banks need to consider before embarking on new banking-as-a-service relationships and what catches their eyes in consent orders from banking regulators.
March 27 -
The $4.2 billion-asset MCU in New York is working with Ameriprise Financial Institutions Group to connect members with the firm's network of digital advisors and offer investment planning options alongside its traditional products.
March 25 -
Goldman Sachs is unloading the home improvement lending platform GreenSky after a misadventure in consumer finance. However, the consortium buying GreenSky plans to invest heavily in its growth, and Synovus says it's eager to deepen its partnership with the online lender.
March 15 -
The credit bureau's data analytics portal, OneTru, hosts all previously offered products on a hybrid cloud-based platform and uses guides powered by artificial intelligence to streamline query processes.
March 14 -
Through its integration with the auto manufacturer, Origence and its indirect lending subsidiary FI Connect aim to match buyers in need of auto loans to eligible credit unions.
March 12 -
MoneyLion saw continued financial growth in 2023, achieving four straight quarters of positive earnings. In 2024, it plans to develop a partnership with EY to bolster its enterprise services.
March 7 -
The personal finance site is rolling out changes to its app that incorporate AI-powered chat and explanatory articles customized to each user.
March 6 -
The fintech has grown its way into the black for the first time since going public in January 2022, CEO Jason Wilk says, capitalizing on AI-underwritten cash advances of up to $500.
March 5 -
The community bank cites exposure to "heightened, and evolving, regulatory standards" in its decision to wind down banking-as-a-service operations.
March 1 -
The Consumer Financial Protection Bureau provided guidance about digital intermediaries and lead generators that accept payments to steer borrowers to financial products.
February 29 - AB - Technology
The Austin, Texas, bank and fintech says the Federal Reserve has proposed a consent order that would require it to strengthen compliance shortcomings, including anti-money-laundering controls.
February 28 -
The San Francisco-based technology company says its new product, Porto, will let investors securely trade more than 200 currencies using multilayered approval systems and biometric credentials.
February 28 -
A group of former FTX and Alameda Research employees plan to use the venture money to build out a cryptocurrency exchange called Backpack. It's one of the startups seeking to fill a gap left by the collapse of Sam Bankman-Fried's crypto empire.
February 28 -
The San Francisco neobank made "occasional mistakes" regarding its responsiveness to customer complaints, according to the California Department of Financial Protection and Innovation.
February 27 -
The Fort Lee, New Jersey, company has hired a pair of veteran investment bankers to lead an effort serving fintechs' capital market needs. It described the move as "doubling down" on its commitment to the sector.
February 26 -
The $6.8 billion-asset institution partnered with FusionIQ to launch digitally advised and self-directed investment platforms as part of a push to attract and retain younger generations of consumers.
February 26 -
Tipalti, Stax and Stripe are among those using new artificial intelligence tools as digital helpers for staff. The specifics vary based on each company's mission and level of comfort with the technology.
February 26 -
An FDIC enforcement action against Lineage Bank is part of a wave of cases involving banks that have partnered with fintechs in recent years.
February 23 -
MainStreet Bancshares in Fairfax says it can succeed where others have run into some thorny regulatory problems by cutting out the middleware and linking fintech partners directly to its core.
February 22 -
Auto-enrolling its membership for a credit-scoring tool offered by SavvyMoney helped Knoxville TVA Employees Credit Union nearly double approvals across its credit card, personal and auto loan portfolios in early 2023.
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