Technology

The combination of American Express and its fintech subsidiary Kabbage is starting to bear fruit at an opportune time, as credit card companies increasingly expand their range of products to boost revenue.

As tech giants rush into point-of-sale lending, the smaller companies that built the market are counting on acquisitions and partnerships with specialized vendors to defend their turf and pull in new borrowers.

The San Francisco company says it will "modify and strengthen" its filings with the Federal Deposit Insurance Corp. and Utah officials and "resubmit at a later date." It's the latest fintech to encounter such a setback, though some later secured approval.

As people more heavily use exchanges and other providers of digital-asset-related services, they're registering more beefs with the Consumer Financial Protection Bureau, too. Experts say it's only a matter of time before the agency invokes its broad authority to police the sector.

If the new Facebook Pay feels underwhelming compared to the social network's past efforts, that's by design. It's now taking a slower approach that could help overcome the privacy concerns that plagued earlier projects.

Steven Schnall, the New York community development financial institution's founder and CEO, discusses its plans to let customers buy and sell bitcoin through their bank accounts, use a ring to make debit card purchases and have a better shot at a home loan.

The firm is offering customers of JPMorgan Private Bank a passively managed fund in partnership with NYDIG, CoinDesk said, citing two people familiar with the matter.

As the Federal Reserve mulls the idea of issuing a digital currency, some industry representatives are already sounding the alarm. Their main concern is a new regime for storing cash will reduce demand for bank deposits.

Companies like Arkose Labs say they're so confident in their ability to deter the attacks — automated attempts to break into online banking sites using stolen usernames and passwords — that they can offer banks a warranty.

The blockchain company's new lead on the Continent, Sendi Young, discusses its plans to foster real-time and cross-border transactions between banks and fintechs in ways that aren't possible on legacy networks.