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

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Athenahealth Introduces Complimentary AI Enhancements for Revenue Cycle Management

October 10, 2025

Financial Advice New Zealand introduces AI training program for advisors to enhance professional development.

October 10, 2025

Bank of England cautions about increasing likelihood of an AI bubble collapse

October 9, 2025

Key Startup Updates Today – Major Investments in AI, Fintech, and Funding

October 9, 2025
Facebook X (Twitter) Instagram
Trending
  • Athenahealth Introduces Complimentary AI Enhancements for Revenue Cycle Management
  • Financial Advice New Zealand introduces AI training program for advisors to enhance professional development.
  • Bank of England cautions about increasing likelihood of an AI bubble collapse
  • Key Startup Updates Today – Major Investments in AI, Fintech, and Funding
  • Are We in an AI Bubble? Financial Institutions Raise Concerns
  • Europe’s top venture capital fund claims FinTech startups will influence the future economy.
  • Microsoft introduces AI solution to enhance financial management in rural hospitals
  • Insights for Fintech Startups Exploring the Crypto Landscape from BitMine’s Experience
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    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

    How Finjobsly is Helping Candidates Connect With Fintech Firms

    September 29, 2025

    AI-powered fintech job platform Finjobsly.com Launches

    September 16, 2025

    FCCPC recoups 10 billion naira for harmed customers after grievances against banks and fintech companies

    September 11, 2025
  • AI

    Athenahealth Introduces Complimentary AI Enhancements for Revenue Cycle Management

    October 10, 2025

    Financial Advice New Zealand introduces AI training program for advisors to enhance professional development.

    October 10, 2025

    Bank of England cautions about increasing likelihood of an AI bubble collapse

    October 9, 2025

    Are We in an AI Bubble? Financial Institutions Raise Concerns

    October 9, 2025

    Microsoft introduces AI solution to enhance financial management in rural hospitals

    October 9, 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

    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

    Examining the recent evaluation of Up Fintech following new analyst coverage that emphasizes its growth prospects.

    September 24, 2025

    Riyadh Establishes a New Benchmark with Record 20/20 Middle East Funds, Enhancing Saudi Arabia’s Influence

    September 21, 2025
  • Rumors

    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

    Bitcoin and Ethereum dominate the market surge

    September 23, 2025

    Dogecoin price aims for $0.30 as the launch of Doje ETF boosts market optimism.

    September 18, 2025
  • Startups

    Key Startup Updates Today – Major Investments in AI, Fintech, and Funding

    October 9, 2025

    Europe’s top venture capital fund claims FinTech startups will influence the future economy.

    October 9, 2025

    Insights for Fintech Startups Exploring the Crypto Landscape from BitMine’s Experience

    October 9, 2025

    New Features Introduced by Fintech Startups at GFF 2025

    October 9, 2025

    Niro, a fintech startup supported by Elevar Equity and GMO Venture Partners, shuts down after attaining $100 million in assets under management, citing regulatory challenges and restricted funding.

    October 9, 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

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

How Finjobsly is Helping Candidates Connect With Fintech Firms

September 29, 2025
Leave A Reply Cancel Reply

Latest news

Athenahealth Introduces Complimentary AI Enhancements for Revenue Cycle Management

October 10, 2025

Financial Advice New Zealand introduces AI training program for advisors to enhance professional development.

October 10, 2025

Bank of England cautions about increasing likelihood of an AI bubble collapse

October 9, 2025
News
  • AI in Finance (1,710)
  • Breaking News (172)
  • Corporate Acquisitions (71)
  • Industry Trends (207)
  • Jobs Market News (309)
  • Market Insights (216)
  • Market Rumors (279)
  • Regulatory Updates (174)
  • Startup News (1,113)
  • Technology Innovations (179)
  • 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 (1,710)
  • Breaking News (172)
  • Corporate Acquisitions (71)
  • Industry Trends (207)
  • Jobs Market News (309)
  • Market Insights (216)
  • Market Rumors (279)
  • Regulatory Updates (174)
  • Startup News (1,113)
  • Technology Innovations (179)
  • 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.