Technology: Page 2

SEC to nearly double crypto enforcement unit

The agency is adding 20 supervisors, investigative staff attorneys, trial counsels and fraud analysts to an already 30-strong team. 

By Robin Bradley • May 3, 2022

Truist buys gamified finance app Long Game

Long Game, which uses prize-linked games to encourage smart financial habits, aims to help banks and credit unions with client retention and account growth, particularly among Gen Z and millennial customers.

By Anna Hrushka • May 3, 2022

Explore the Trendline➔

Fraud and AML in banking

The SEC is staffing up its cyber unit to fight a potential uptick in crypto fraud. Meanwhile, lawmakers want answers concerning a "disturbing" rise in fraud linked to a bank-owned payment network.

By Banking Dive staff

Citi's role in 'flash crash' reinforces perils of manual transactions

Nasdaq said it won't cancel any trades from Monday that pushed European indexes down as much as 8% in five minutes. Unlike in 2020, the damage from a Citi employee's hands wasn't contained to the bank.

By Dan Ennis • May 3, 2022

U.S. Bank rolls out Spanish-language voice assistant for mobile app

The Minneapolis lender cites a study indicating 25% of Hispanic Americans are "smartphone-only" internet users — double the proportion of White adults.

By Robin Bradley • May 2, 2022

TD Bank targets South Florida tech talent pool

The Toronto-based lender on Tuesday announced the launch of a hub in Fort Lauderdale, adding it intends to hire 200 tech workers in the area over the next two years.

By Anna Hrushka • April 26, 2022

Bank trade groups want more clarity on Fed master accounts

The groups want further detail on how the central bank will review and scrutinize applications. The authors also want the Fed to explain how the country's reserve banks will monitor institutions in the proposed tiered system.

By Anna Hrushka • April 25, 2022

The 3 banking challenges synthetic data is ready to meet

Three challenges AI-generated synthetic data is ready to tackle in banking: an overview.

April 25, 2022

From Uber to Grubhub, embedded finance is an everyday reality for consumers

From buying delivery through Grubhub to requesting a ride from Uber, what exactly is embedded finance and how can banks participate in this evolution?

By Angus Ross • April 25, 2022

Bank of America wants its cards made of 80% recycled plastic by 2023

The bank estimates it will produce 235 fewer tons of single-use plastics with the transition.

By Robin Bradley • April 21, 2022

Marcus brand, marketing exec leaves to join real estate investment startup

Dustin Cohn, who has taken at least partial credit in naming Goldman Sachs' consumer arm, said the departure — to become chief marketing officer at Cadre — was "completely amicable."

By Dan Ennis • April 20, 2022

Robinhood's acquisition of crypto firm puts UK, Europe in its sights

The purchase of Ziglu, which is in the good graces of the Financial Conduct Authority, marks the second attempt by the stock-trading app to broach the U.K. market. Terms of the deal were not disclosed Tuesday.

By Dan Ennis • April 19, 2022

USAA revamps mobile app

With a new predictive search function, users can transact with fewer taps, said the company, which also reduced load times and added fingerprint, face and voice recognition log-in capabilities.

By Robin Bradley • April 19, 2022

Revolut, Cross River link up to offer US consumer loans

Customers who use the personal loan offering, which will be available in the coming months, won't be subject to late fees, origination fees or prepayment penalties, the neobank said.

By Anna Hrushka • April 18, 2022

Citi sets aside $1.9B to counter Russia exposure

The bank said it now risks a $3 billion loss at most over its Russia entanglements. Profit at the third-largest U.S.-based lender dropped by 46% in the first quarter, Citi said Thursday.

By Dan Ennis • April 14, 2022

Neobank Step to launch crypto, stock investing product for users under 18

The teen-focused challenger bank claims the new offering will make it the first financial app to enable customers under the age of 18 to buy, sell, hold and receive crypto.

By Anna Hrushka • April 12, 2022

How financial institutions can leverage one-to-one messaging to maintain profitable relationships with their customers

With personalized interactions, financial institutions can cut churn and increase engagement.

April 11, 2022

Buy, build or partner: How mid-market banks should approach technology selection

To deliver seamless digital customer experiences and compete in 2022, all banks must now answer the question: Do we build, buy, or partner to deliver required technology solutions?

April 11, 2022

CBDC will take years, not months, to develop, Yellen says

Transactions need to be faster but responsible, and regulation should be "tech-neutral," the treasury secretary said in her first remarks on digital assets since a March executive order.

By Dan Ennis • April 8, 2022

FDIC: Banks should alert agency of their crypto-related pursuits

The regulator said it supports safe and sound innovations, but is concerned that the risks associated with crypto assets and crypto-related activities are not well understood.

By Anna Hrushka • April 8, 2022

Toomey bill would let OCC give charters to stablecoin issuers

The Republican senator's draft bill would preserve state-registered money transmitter status for most existing issuers and would clarify that insured depository institutions are permitted to issue the digital currency.

By Anna Hrushka • April 7, 2022

U.S. Bank pilots real-time payments app for car sales

The Minneapolis-based lender is also working on new applications in the broker-dealer and residential real estate title markets, said Mike Jorgensen, head of emerging sales and strategy at the bank.

By Lynne Marek • April 4, 2022

Sen. Cruz seeks to restrict Fed role for CBDC

The Texas Republican's legislation, which follows a House bill introduced this year, would prevent the central bank from issuing a digital currency directly to consumers.

By Jonathan Berr • April 4, 2022

Accelerated build: bridging the build vs. buy gap

Explore the build and buy options in order to better understand what accelerated build brings to the table.

April 4, 2022

Citizens Bank offers on-demand pay product for corporate clients

The bank said the service can be up and running within 30 days. Citizens is working with an unnamed third-party vendor to provide the offering, an executive said.

By Anna Hrushka • April 1, 2022

Cross River hits $3B valuation, eyes global expansion — but still defies labels

"Besides the technology ... we also are a regulated financial institution, and the combination of the two really is the secret sauce that allows us to work" with heavy-hitting partner companies, executive Hillel Olivestone said.

By Anna Hrushka • March 31, 2022