Some customer fraud and a lack of cooperation from partners Huntington Bank and Dwolla prevented Beam Financial from returning funds to savers, says Aaron Du, the fintech's CEO. He says he’s trying to make things right, but Huntington and Dwolla are taking the dispute to court.

Referendums that legalized marijuana and sports wagering in several states could incentivize banks to do business with companies in these sectors. Payday loan and privacy measures that passed Tuesday also have implications for the industry.

Despite tougher privacy regulations, further safeguards are needed that require consumers' clear consent before personal information is exchanged.

The new initiative is aimed at boosting credit union innovation through investments in fintech and other areas.

As the presidential voting count waged deep into the night on Tuesday, the fate of fintech, financial services and payments regulation hung in the balance.

Control of Congress was still in play late Tuesday, as the Democrats retained control of the House of Representatives while neither party gained the necessary seats to control the Senate.

Atlanta-based Bluefin has won $25 million in funding to develop new services and expand its reach.

Changing regulations mix and uncertain access to international talent are among the potential challenges, but both sides favor fintech--in their own way, says QED Investors' Nigel Morris.

States have led the way on fintech rules, but a Democratic-led government would take a stronger role, says DailyPay's Matthew Kopko.

In a major break from the Payment Card Industry security standards playbook, merchants and service providers using newer technologies would have the opportunity to rewrite network operation and testing procedures when achieving compliance.

Customers say the Beam savings app is down and the company isn't returning their money. The situation is putting third parties like Huntington and Dwolla in the firing line, though they say they're not at fault.

Good communication is integral to facilitating collaboration between departments and offering a reminder that security is not achieved solely within the IT department; rather, it is a team effort, says KnowBe4's Javvad Malik.

Mastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants.

Before bringing biometrics to any new payment form factor, careful consideration is needed to ensure the technology can be seamlessly integrated into the existing infrastructure, while maintaining the highest levels of security, says Fingerprints' Henrick Nilsson.

Lufax, which was once among China’s largest peer-to-peer lenders, has morphed into a financial giant offering wealth management and retail lending services.

Fraudsters have increased their attempts to steal data through email scams since much of the financial services sector moved to remote work when the pandemic began.

The concept marries digital ID to the trend toward making the car’s internet connectivity an e-commerce lane.

The company is best known for its reciprocal deposit program, but it’s finding new ways to serve banks without competing for their customers.

Renaud Laplanche's fintech will give borrowers cash back when they lower their loan balances.