Technology

The Connecticut bank’s proposed combination with American Challenger Development Corp. was terminated because the two parties didn’t anticipate they could meet the closing conditions. The fintech now says it’s retained Citigroup to explore a possible sale.

The payments giant Visa is in talks to join an extension of the fintech startup Airwallex’s latest funding round, according to people familiar with the matter.

Alloy, Marqeta and other technology firms drafted policies to assist employees in states that restrict abortion access, even before they had all the answers.

The operators of a Texas payments firm with ties to the U.K. pleaded guilty in the U.S. to money laundering failures after their business facilitated the shipping of $160 million to Nigeria over about three years.

A class action said the company, which has suffered two breaches in the past year, also was responsible for a larger breach and “downplayed” the situation when it notified consumers.

The boss of the U.K. digital bank Monzo Bank said he’s targeting growth rather than immediate profit during a turbulent time for the fintech industry, after nearly doubling annual revenue while widening losses.

Just as advances in automobile technology have made driving safer, incorporating AI into decision-making reduces financial risks.

Crypto startups finally felt the effects of an economic storm that has been cooling digital currencies, public stocks and venture capital all year. Funding to private crypto companies in the second quarter fell to its lowest level in a year, according to data from PitchBook.

GoHenry, one of many digital banks for kids and teens in the U.S., is based in London but is broadening its European presence with the acquisition of the French fintech Pixpay.

The online consumer lender touts its AI-based underwriting models as a key strength, but analysts say larger-than-expected losses on some of its loans are contributing to funding pressures.