After a tumultuous year, banking-as-a-service (BaaS) startup Synapse has filed for Chapter 11 bankruptcy and its assets will be acquired by TabaPay, according to the two companies. The deal is pending bankruptcy court approval. Founded in 2017, Mountain View-based TabaPay is an instant money movement platform that Softbank backed in a 2022 round of an…

I was at the Innovate Finance Global Summit last week and it was fantastic, as can be seen by the pic above of the CEO and Chair having a whale of a time on stage. The job I had to do was interview Jo Dewar on stage who just launched Project Nemo (more on that……

This week’s main blog discussions include … Am I financial marmite? At a conference the other day, a banker came up to me and said “oh, you’re that fintech guy who throws rocks at us all the time”. A short while later, a fintech founder came up to me and said “oh, you’re the banking……

Welcome to TechCrunch Fintech! This week, we’re looking at Ramp’s big raise and valuation jump, Mercury’s move into personal banking, Klarna’s new credit card, global funding rounds and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:00 a.m. PT, subscribe here.  The big story Ramp,…

To some investors, “down round” is a dirty phrase, but not to Notable Capital’s Hans Tung. Hans is a managing partner at Notable Capital, formerly GGV Capital, a venture firm focusing on investments in the U.S., Latin America, Israel, and Europe. Hans, whose portfolio includes the likes of Airbnb, StockX and Slack, sat down with…

Huntington Bancshares joined mega-banks in growing digital adoption during the first quarter, citing increases in digital and mobile usership and in digital logins.  During the quarter, Bank of America, Citizens Financial Group, JPMorgan Chase and Wells Fargo all reported digital usership growth.   The $189 billion bank’s investment in technology and data in the quarter contributed…

Fifth Third Bank saved $15 million in the first quarter, partly driven by deploying automation throughout its operations.  “Expenses are well controlled … driven by savings realized through process automation and our focus on value streams,” Chief Executive Tim Spence said during the bank’s first-quarter earnings today. The bank reported noninterest expense, which includes tech…

CRED has received the in-principle approval for payment aggregator license in a boost to the Indian fintech startup that could help it better serve its customers and launch new products and experiment with ideas faster. The Bengaluru-headquartered startup, valued at $6.4 billion, received the in-principle approval from the Reserve Bank of India for the payment…

At a conference the other day, a banker came up to me and said “oh, you’re that fintech guy who throws rocks at us all the time”. A short will later, a fintech founder came up to me and said “oh, you’re the banking guy who thinks we will all fail”. Interestingly, a short time……

KeyBank is using robotic process automation to boost efficiency without hiring more people.   The $189 billion bank has about 300 processes automated through (RPA), Michael Reynolds, business technology executive for service digitization, said last month at Bank Automation Summit 2024 in Nashville, Tenn.  “Translate that into people. … That’s about the work of 500 people…