Technology: Page 2


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    Chip Somodevilla via Getty Images

    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 May 3, 2022
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    Permission granted by Truist

    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 May 3, 2022
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    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
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    Mario Tama via Getty Images
    Column

    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 May 3, 2022
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    Permission granted by U.S. Bank

    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 May 2, 2022
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    "TD Bank" by Tdorante10 is licensed under CC BY-SA 4.0

    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 April 26, 2022
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    Anna Hrushka/Banking Dive

    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 April 25, 2022
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    ASKA via Getty Images
    Sponsored by MOSTLY AI

    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
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    MStudioImages via Getty Images
    Sponsored by Finastra

    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
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    David McNew via Getty Images

    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 April 21, 2022
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    :Weatherman1126. (2007). "Logo of The Goldman Sachs Group, Inc." [Image]. Retrieved from Wikipedia Commons.

    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 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 April 19, 2022
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    Courtesy of USAA

    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 April 19, 2022
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    Permission granted by Revolut

    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 April 18, 2022
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    Permission granted by Citigroup

    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 April 14, 2022
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    Permission granted by Step

    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 April 12, 2022
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    Shutterstock.com/insta_photos

    Sponsored by Statflo

    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
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    d3sign via Getty Images
    Sponsored by West Monroe

    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
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    Chip Somodevilla via Getty Images

    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 April 8, 2022
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    Anna Hrushka/Banking Dive

    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 April 8, 2022
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    Chip Somodevilla via Getty Images

    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 April 7, 2022
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    Permission granted by U.S. Bank spokesman Todd Deutsch

    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
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    Sergio Flores via Getty Images

    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
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    ipopba via Getty Images
    Sponsored by Backbase

    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
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    Permission granted by Citizens Financial Group

    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 April 1, 2022
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    Permission granted by Cross River Bank

    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 March 31, 2022