Technology

During the third quarter, revenues at the online consumer lender fell by 31% from the previous three months. CEO Dave Girouard expressed dissatisfaction but also argued that the company's lending model is working as intended.

FV Bank will let customers hold, transfer and settle both digital assets and fiat currencies in one account.

The fintech reported on its third-quarter earnings call that tightening its credit standards has already improved delinquency trends.

A proposed rule would end a 40-year moratorium on participation in the Small Business Administration's flagship 7(a) program by nondepository lenders. However, staffing constraints would limit the number of new licenses to just three at the start.

The company is building on other 2022 launches including stock trading and faster remittances from the U.S. to Mexico in its campaign to offer an all-encompassing financial app.

Scams and fraud on real-time payment platforms are well documented. To solve the problem regulators, lawmakers and the public must acknowledge the inherent risks that come with a powerful new technology and develop rules to make it safer.

Chime, Varo, Upstart and Stripe are among the many companies that have recently laid off more than 10% of their workforce. Banks could benefit from a chance to scoop up tech talent.

The security company OneSpan has launched a new line of such products for financial institutions. Some are skeptical that stand-alone authentication devices are necessary.

Mobile banking marches on, new blood for Visa fintech effort and more in banking news this week.

The payment platform will let institutional clients distribute digital payments more efficiently, using low-code software and artificial intelligence.