PYMNTS

JUNE 10, 2019

Its new FinTech team could ultimately have more than 100 workers. The company’s push into FinTech will help broaden its lead over rival service Lyft, and its offerings will look to help increase customer engagement and loyalty. Many FinTech outfits use a small group of institutions like Celtic Bank or Cross River for banking products.

Fintech 214

Fintech San Francisco FDIC New York 214

Bank Innovation

JULY 29, 2019

On the heels of digital banking startup Varo Money applying for a banking license with the Federal Deposit Insurance Corporation (FDIC) earlier this month, another fintech firm with its toes in charter waters seems poised to jump in.

FDIC 253

FDIC Digital Banking Fintech Online 253

Payments Dive

JUNE 8, 2023

The guidance is aimed at helping banks address the operational, compliance and strategic risks of third-party tie-ups, such as those with fintech firms.

Risk Management 243

Risk Management FDIC Management Compliance 243

Abrigo

FEBRUARY 12, 2025

Meanwhile, fintech lenders offer fast approvals, attracting small business borrowers despite high interest rates. Despite their deep-rooted connections with local businesses, many CFIs struggle to compete with fintech lenders due to slow processing times and complex underwriting processes. 62% even require board approval.

Lending 195

Lending Risk Management Community Fintech 195

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

FDIC 98

FDIC Fintech Innovation Conference 98

South State Correspondent

MARCH 3, 2025

In 1985, there were 14,417 FDIC banking charters. With deregulation and against a backdrop of increasing bank failures, the FDIC deposit insurance was raised from $40,000 to $100,000, and the ceiling savings rate was phased out. Understanding the drivers of banking consolidation is imperative when managing bank performance.

FDIC 195

FDIC Trends Management ATM 195

PYMNTS

APRIL 24, 2020

Yet demand for contactless payments and digital, automated financial solutions means FinTech funding may not take as hard of a hit as other startup segments. however, funding for FinTechs actually increased to $3.7 B2B FinTech investments appear to be relatively strong, too. As an FDIC insured bank in the U.S.,

Fintech 193

Fintech Capital Security Digital Banking 193

PYMNTS

NOVEMBER 2, 2020

In an interview with PYMNTS, Neel Ganu , CEO of FinTech Finch said that combining banking and investing activities into a single account can help these younger consumers optimize their daily finances and grow their wealth in the meantime. to ensure regulatory compliance.

Millennials 221

Millennials Fintech Course FDIC 221

PYMNTS

DECEMBER 2, 2020

Silicon Valley FinTech startup Step has raised $50 million in a Series B funding round, the company announced Wednesday (Dec. Step customers get a bank account that is insured by the FDIC, as well as a secured spending card backed by Visa and the P2P payments platform. Users can transfer funds in real time without any fees.

Fintech 217

Fintech FDIC Management Resources 217

PYMNTS

DECEMBER 10, 2018

Separately, but still within the scope of efforts from the Federal Reserve and the OCC, along with the FDIC, the agencies last week released a proposal that would increase the threshold of real estate transactions that require appraisal from $250,000 to $400,000. This would be the first boost in 25 years.

Regulation 172

Regulation Fintech FDIC Innovation 172

PYMNTS

DECEMBER 23, 2020

The company offers FDIC-insured bank accounts and a Visa -branded payment cards for teens (aged 13-18) with budgeting features and other financial education tools built in. If we can help this next generation just ultimately be smarter and more educated as it pertains to money, I think we'll all be better off.”.

Fintech 322

Fintech Cards Lending FDIC 322

PYMNTS

NOVEMBER 1, 2018

The ongoing struggle, supposedly existential in nature, that pits upstart, relatively young FinTech firms against arrogantly complacent banks for supremacy in this new and growing world of digital payments and commerce. And that is a bank – one with FDIC insurance and safeguards that keep their money safe. The subject? Trust in Banks.

Fintech 191

Fintech UX Mobile Innovation 191

American Banker

JULY 20, 2020

The agency's request for information seeks comment on the idea of the FDIC partnering with a standards-setting organization to develop best practices for technology firms, among other things.

FDIC 90

FDIC Fintech Technology Community Bank 90

PYMNTS

MAY 27, 2020

And, they said, traditional players can find competitive strength by linking up with firms that had previously been viewed as foes (that would be FinTechs). HMBradley offers FDIC-insured accounts through Hatch Bank based in California, and rates of about 3 percent on its savings accounts.

Fintech 236

Fintech Innovation Digital Banking FDIC 236

Bank Innovation

APRIL 24, 2019

Secretary of the Treasury Steven Mnuchin said today that he prefers private over government solutions when it comes to collecting and using consumer data for financial products and services, speaking at a fintech conference hosted here by the FDIC.

Data 170

Data FDIC Washington Conference 170

Bank Innovation

DECEMBER 31, 2018

Bank Innovation’s five picks for companies that made noise in fintech this year may not include any banks, but it does include a company owned by a collection of them. Indeed, as far as innovation is concerned, 2018 was the year of the fintechs and nonbanks -- some friendlier to the traditional players than others. […].

Company 199

Company Fintech Innovation FDIC 199

CFPB Monitor

MAY 19, 2021

The Federal Deposit Insurance Corporation (FDIC) recently issued a notice of proposed rulemaking (NPR) and request for information (RFI) addressing “False Advertising, Misrepresentation of Insured Status and Misuse of the FDIC’s Name or Logo”.

FDIC 88

FDIC Regulation Fintech Examples 88

CFPB Monitor

APRIL 22, 2019

This Wednesday April 24th, the Federal Deposit Insurance Corporation and Duke University’s Fuqua School of Business and Innovation and Entrepreneurship Initiative will host a conference titled “ Fintech and the Future of Banking ” in Arlington, Virginia.

FDIC 68

FDIC Conference Arlington Fintech 68

Payments Source

OCTOBER 9, 2018

Fintechs can get what they need from a traditional bank charter with the FDIC, as long as the agency is willing to play ball and step up its approach to innovation.

Fintech 98

Fintech FDIC Innovation Regulation 98

PYMNTS

OCTOBER 24, 2019

Lights out for the FinTech charter idea? The Office of the Comptroller of the Currency (OCC) debuted a special purpose charter in 2016 that would have given FinTechs a leg up on competing with traditional financial services companies. Can’t get the charter without FDIC coverage. As reported , the U.S.

Fintech 101

Fintech FDIC New York National 101

CFPB Monitor

FEBRUARY 24, 2023

Earlier this month, the Federal Deposit Insurance Corporation (FDIC) issued cease-and-desist letters to a cryptocurrency exchange and a fintech , demanding that each of these entities immediately stop making false and misleading statements about FDIC coverage of their financial products. Continue Reading

FDIC 78

FDIC cryptocurrency Fintech Marketing 78

PYMNTS

DECEMBER 16, 2020

Ternio , a global FinTech platform, has integrated with Plaid , a financial data company, to help Ternio BlockCard bank accounts access faster and more secure connections to financial accounts, according to a press release. customers to activate their FDIC-insured BlockCard bank accounts. dollars between all of their accounts.”.

cryptocurrency 267

cryptocurrency FDIC User Experience Security 267

PYMNTS

SEPTEMBER 30, 2020

The agency first proposed a special banking charter for FinTechs in 2014 that would limit pushback from the Federal Deposit Insurance Corp. FDIC), the states and the courts. The banking industry insists it’s not hostile in principle to opening up the playing field to FinTechs, and that traditional FIs are open to doing something new.

Regulation 349

Regulation National System Industry 349

CFPB Monitor

MAY 4, 2023

The FDIC recently announced that it has entered into a Consent Order with Cross River Bank (CRB or Bank) to resolve FDIC charges that the Bank engaged in unsafe or unsound practices related to its fair lending compliance. (The The Consent Order was issued in March 2023 but not made public until the end of last month.) .

FDIC 78

FDIC Compliance Fintech Lending 78

American Banker

MARCH 29, 2024

The steady drumbeat of consent orders against banks that offer banking as a service continues, with regulators telling banks to keep a closer eye on their fintechs' compliance with the Bank Secrecy Act and money laundering rules.

Fintech 94

Fintech FDIC Compliance Regulation 94

PYMNTS

DECEMBER 11, 2020

The FinTech partnered with Metropolitan Commercial Bank for FDIC backing of deposits up to $250,000. “As Revolut is one of the few FinTechs to break even so quickly, but it did see a 40 percent dip in revenues amid the initial coronavirus outbreak. The startup reminded people that cryptocurrencies are not regulated in the U.K.

cryptocurrency 214

cryptocurrency blockchain FDIC Bitcoin 214

Bank Innovation

FEBRUARY 18, 2019

Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer those loans to consumers who have traditionally been unable to secure them from larger institutions.

San Francisco 186

San Francisco Fintech Innovation Security 186

PYMNTS

JANUARY 9, 2018

INTRUST Bank recently announced it is also taking part in the trend of collaborating with FinTechs. In July 2017, the Federal Deposit Insurance Corporation (FDIC) held a meeting with a group of community bankers which told officials about the competitive pressures they’re facing from FinTechs.

Community Bank 131

Community Bank Community Fintech Lending 131

BankInovation

OCTOBER 1, 2020

households unbanked or underbanked according to data from the FDIC, fintechs have long promised better financial access, whether through online lending that looks beyond traditional credit underwriting or digital banking startups with fewer fees. With more than one-quarter of U.S.

Fintech 98

Fintech FDIC US Lending 98

BankInovation

OCTOBER 1, 2020

households unbanked or underbanked according to data from the FDIC, fintechs have long promised better financial access, whether through online lending that looks beyond traditional credit underwriting or digital banking startups with fewer fees. With more than one-quarter of U.S.

Fintech 98

Fintech FDIC US Lending 98

CFPB Monitor

JANUARY 25, 2021

Unless Rakuten’s most recent application is granted before that date, Rakuten’s FDIC insurance application, if approved by the FDIC, would subject Rakuten to the terms of the Rule. Rakuten’s first FDIC deposit insurance application was filed in July 2019, and was withdrawn in March 2020.

FDIC 78

FDIC Utah America Financial Technology 78

BankInovation

NOVEMBER 29, 2021

The Federal Deposit Insurance Commission (FDIC) recently made available the demos of its first FDITECH Sprint, a contest held in September that focused on reaching unbanked customers via fintech solutions.

FDIC 98

FDIC Fintech Google System 98

Jack Henry

DECEMBER 9, 2021

Investments in financial technology have been increasing for years, but the events of the last 18 months have created a new sense of urgency for community banks and credit unions to fine-tune their digital strategies across the spectrum of various fintech investments.

Strategy 148

Strategy Digital Strategies FDIC Community Bank 148

CFPB Monitor

DECEMBER 28, 2020

The FDIC has issued a final rule setting forth the conditions it will impose and the commitments it will require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 78

FDIC Industry Policies Company 78

CFPB Monitor

JUNE 15, 2022

Four Democratic members of the California state legislature recently sent a letter to the Federal Deposit Insurance Corporation (FDIC) urging the agency to take action against FDIC-supervised banks that partner with non-bank lenders to originate high-cost installment loans.

FDIC 78

FDIC California West Virginia North Carolina 78

PYMNTS

JULY 24, 2019

Like other FinTechs, Betterment will partner with FDIC-insured institutions since it doesn’t have a bank charter. Although traditional financial institutions largely don’t consider FinTech firms as competition, both established and emerging FinTechs are well-positioned to capture traditional banking customers.

Fintech 162

Fintech FDIC National Online 162

PYMNTS

JULY 15, 2020

European FinTech Revolut, which recently debuted in the U.S. debut in March, teaming up with Metropolitan Commercial Bank to offer FDIC -insured accounts that can be opened and accessed through smartphones. In a Wednesday (July 15) press release, Paxos Trust Co. Revolut made its U.S.

US 233

US cryptocurrency FDIC Compliance 233