Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

OpenAI recruits more than 100 ex-investment bankers for training AI in financial modeling, according to a report.

October 21, 2025

Exploring Compliance Innovation: A Comprehensive Examination of AI in Financial Crime and Compliance Featuring Jason Somrak from Oracle and Thomas Fox, Compliance Advocate

October 21, 2025

Fintech encounters strong rivalry as investment in energy startups rises

October 21, 2025

Cleveland Clinic utilizes artificial intelligence for structural heart treatment.

October 21, 2025
Facebook X (Twitter) Instagram
Trending
  • OpenAI recruits more than 100 ex-investment bankers for training AI in financial modeling, according to a report.
  • Exploring Compliance Innovation: A Comprehensive Examination of AI in Financial Crime and Compliance Featuring Jason Somrak from Oracle and Thomas Fox, Compliance Advocate
  • Fintech encounters strong rivalry as investment in energy startups rises
  • Cleveland Clinic utilizes artificial intelligence for structural heart treatment.
  • Essential AI Financial Tools for 2025 to Boost Savings, Investments, and Growth
  • Finster AI secures $15 million to reshape the future of financial intelligence; opens office in New York, expands London headquarters, and brings on senior executives from Morgan Stanley and Revolut.
  • If AI and cryptocurrency are not bubbles, we might face significant issues.
  • Transforming Accounting: The Impact of Generative AI on the Finance Sector
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    B2B fintech Yaspa leverages its new regional brand to enter the U.S. market.

    October 16, 2025

    Fintech Employment Boom Stimulates Financial Job Market in London

    October 15, 2025

    European small and medium-sized enterprises face risks while developing AI strategies on unstable digital groundwork, reveals recent Qonto survey.

    October 10, 2025

    PM Modi invites international investors to be part of India’s growth narrative at the Global Fintech Fest.

    October 9, 2025

    What $9.6T Daily FX Trading Means for Fintech Startups

    October 1, 2025
  • AI

    OpenAI recruits more than 100 ex-investment bankers for training AI in financial modeling, according to a report.

    October 21, 2025

    Exploring Compliance Innovation: A Comprehensive Examination of AI in Financial Crime and Compliance Featuring Jason Somrak from Oracle and Thomas Fox, Compliance Advocate

    October 21, 2025

    Cleveland Clinic utilizes artificial intelligence for structural heart treatment.

    October 21, 2025

    Essential AI Financial Tools for 2025 to Boost Savings, Investments, and Growth

    October 21, 2025

    Finster AI secures $15 million to reshape the future of financial intelligence; opens office in New York, expands London headquarters, and brings on senior executives from Morgan Stanley and Revolut.

    October 20, 2025
  • Acquisitions

    Amazon concludes its acquisition of the Indian lender Axio, expanding its fintech efforts.

    September 11, 2025

    The incident involving the Kaustubh Kulkarni movement in Moomoo

    September 3, 2025

    Overview of Acquisitions for US Fintech Companies from the Clifford Chance Guide

    September 2, 2025

    Dentons guides PEAC Solutions in acquiring Fintech Topi

    August 29, 2025

    Truckstop.com purchases the denim division of the transport finish company

    August 24, 2025
  • Trends

    Vietnam Fintech Market Overview: Trends, Growth Potential, and Future Directions

    October 8, 2025

    Industry size projected to reach 550.9 billion USD

    October 3, 2025

    Germany’s Fintech Market Expected to Reach 29.25 Billion USD by 2030

    October 3, 2025

    Expansion of the Blockchain and Fintech Sectors in Tokenization

    September 30, 2025

    Expansion and Investment Prospects in the GCC Fintech Sector

    September 25, 2025
  • Insights

    The upcoming frontier in managing personal wealth

    October 17, 2025

    India spearheads the fintech revolution with 87% of payments being digital.

    October 16, 2025

    Finance Minister Sitharaman inaugurates foreign currency settlement system in Gift City.

    October 7, 2025

    What $9.6T Daily FX Trading Means for Fintech Startups

    October 1, 2025

    Exploring the Boundaries of Technology: Advantages of the Fintech Sector

    September 30, 2025
  • Rumors

    Is Coinbase exploring a BVNK acquisition to enhance its stablecoin growth?

    October 14, 2025

    Japanese Digital Finance Firm Experiences Rapid Expansion

    October 11, 2025

    American regulators dismiss rumors of a dry CFTC merger, aiming to eliminate fear, uncertainty, and doubt in the cryptocurrency space.

    October 5, 2025

    Insights on OKX Communication Strategies for the Future of BTC Futures

    October 3, 2025

    Has the Texas Senate authorized the XRP reserve bill for purchasing $100 million in XRP annually?

    October 1, 2025
  • Startups

    Fintech encounters strong rivalry as investment in energy startups rises

    October 21, 2025

    Fundamento, an Agentic AI platform, secures $1.9 million in funding, led by IIFL Fintech Fund and additional investors.

    October 19, 2025

    Leading 7 FinTech Startups in China for 2025

    October 18, 2025

    Decentro Launches Omniscore at the 2025 Global Fintech Festival

    October 17, 2025

    Fintech Startup Introduces AI Tool to Identify Gold Fraud in Financial Institutions

    October 17, 2025
  • finjobsly
fintechbits
Home » Totem, a fintech focused on Native Americans, closes its doors
Breaking News

Totem, a fintech focused on Native Americans, closes its doors

3 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
65e6f40b0ca8bf1b82b89a49ec374b20.jpeg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link
  • Tulsa, Oklahoma-based Totem Technologies is shutting down, the fintech’s founder and CEO Amber Buker said in a LinkedIn post late last week.

  • “Totem has reached the end of its journey,” writes Buker in a publish on the site.

  • The neobank, which had raised about $2.2 million in pre-funding, had about 500 customers, according to Buker.

Totem introduced himself as “banking by and for indigenous peoples,” who, according to the report, are more likely to not have a bank account and live further from bank branches. The fintech, which had a mobile banking app offering a spending account, debit card and early access to paychecks, rolled out its product to consumers in July 2023, An American banker reported.

First Pryority Bank, based in Pryor, Oklahoma, provided banking services to Totem and issued the fintech’s debit card. The startup’s website also states that it shares a portion of the revenue with its tribal partners. One of them was the Eastern Shawnee Tribe of Oklahoma, which would publicize Totem’s services to its members in exchange for a cut of the fintech’s interchange revenue.

In his LinkedIn post, Buker did not provide details about when Totem informed customers of the company’s closure, or what specifically led to the startup’s demise. But she suggested investors want to see more progress, faster, from fintech.

“We built an ethical business model that showed it is possible to serve “at risk” or “niche” populations when you build holistically and leverage the broader needs of their communities through value-added services like payments,” said Buker, a enrolled citizen of the Choctaw Nation of Oklahoma. “But companies looking to serve Indian Country can only do so at a pace they can trust. And it happens much more slowly than the pace at which a venture-backed company is expected to scale.

Buker did not immediately respond to a request for comment. Neither did Raven Indigenous Capital Partners, a Canadian venture capital firm that invested in Totem.

Buker remains involved in litigation with Richard Chance, fintech co-founder and former chief technology officer. Last year, he accused Buker of denying him a promised stake in the company, American Banker reported. He also said she had threatened legal action against him for misappropriation of the fintech’s intellectual property.

“I am incredibly proud of the work we have accomplished in just two years to improve the financial well-being and access to banking services of Native Americans across the country,” Buker wrote. “We have created a thoughtful and culturally relevant banking product for our employees. »

This story was originally published on Bank diving. To receive daily news and information, subscribe to our free daily newspaper Bank Dive Bulletin.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

B2B fintech Yaspa leverages its new regional brand to enter the U.S. market.

October 16, 2025

Fintech Employment Boom Stimulates Financial Job Market in London

October 15, 2025

European small and medium-sized enterprises face risks while developing AI strategies on unstable digital groundwork, reveals recent Qonto survey.

October 10, 2025
Leave A Reply Cancel Reply

Latest news

OpenAI recruits more than 100 ex-investment bankers for training AI in financial modeling, according to a report.

October 21, 2025

Exploring Compliance Innovation: A Comprehensive Examination of AI in Financial Crime and Compliance Featuring Jason Somrak from Oracle and Thomas Fox, Compliance Advocate

October 21, 2025

Fintech encounters strong rivalry as investment in energy startups rises

October 21, 2025
News
  • AI in Finance (1,751)
  • Breaking News (175)
  • Corporate Acquisitions (71)
  • Industry Trends (207)
  • Jobs Market News (312)
  • Market Insights (218)
  • Market Rumors (281)
  • Regulatory Updates (174)
  • Startup News (1,138)
  • Technology Innovations (181)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,751)
  • Breaking News (175)
  • Corporate Acquisitions (71)
  • Industry Trends (207)
  • Jobs Market News (312)
  • Market Insights (218)
  • Market Rumors (281)
  • Regulatory Updates (174)
  • Startup News (1,138)
  • Technology Innovations (181)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.