Technology: Page 48
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Courtesy of KeyBank
Q&AKeyBank's digital strategy: Let the client choose
The Cleveland-based bank has spent the past decade strategizing how it can digitize its products to provide remote self-service capabilities for its clients while maintaining in-person options.
By Anna Hrushka • July 7, 2020 -
Courtesy of Kabbage Media
Kabbage nearly doubles customer count through PPP participation
The Atlanta-based online lender said it approved $5.8 billion in loans under the program for 209,000 customers — 97% of whom are new to its platform.
By Anna Hrushka • July 2, 2020 -
Explore the Trendline➔
wildpixel via Getty Images
TrendlineThe Banking Dive Outlook on 2022
Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.
By Banking Dive staff -
Permission granted by BBVA USA
BBVA brings 'banker bar' to new branches in Texas expansion
The bank seeks to do away with the traditional teller role, replacing it with an employee who can onboard customers to digital channels and originate accounts.
By Anna Hrushka • July 1, 2020 -
Courtesy of Ally Financial
Inside Ally Financial's technology strategy
The company needs to operate at a speed it hasn't before, Ally's technology chief said. In the next three to five years, digital capabilities will "stop being exotic," PwC has said.
By Naomi Eide • June 30, 2020 -
JPMorgan cites 'technical issue' over incorrect customer balances
The bank's customers took to Twitter to report money unexpectedly missing or appearing in their accounts using the #ChaseBank hashtag.
By Anna Hrushka • June 29, 2020 -
FDIC to launch competition on system to replace quarterly reports
The effort, which debuted Monday and enlists 20 tech companies, would help the regulator keep more timely data on the roughly 3,200 community banks under its purview.
By Dan Ennis • June 29, 2020 -
Upstart expands into auto lending
The platform will use an alternative data model to lend to borrowers who aren't considered prime by credit score or history. But the company's model for student loans came under fire this year over potential racial disparity.
By Dan Ennis • June 25, 2020 -
Permission granted by Upgrade
How Upgrade plans to use its latest $40M investment
Upgrade's latest funding round boosts the startup's valuation to $1 billion, giving it "unicorn" status alongside other neobanks such as Chime, Dave, Monzo, Revolut, N26 and NuBank.
By Anna Hrushka • June 25, 2020 -
Mastercard to buy Finicity for $825M in open banking play
The Justice Department's approval of the tie-up stands in sharp contrast to the legal action it has undertaken to stop chief competitor Visa's proposed $5.3 billion acquisition of data aggregator Plaid.
By Anna Hrushka • Updated Nov. 19, 2020 -
Courtesy of Microsoft
Banks strive to make virtual meetings more social to counter video fatigue
"There's sometimes an underestimation of how much glue is needed for an organization to be successful, and the glue is in informal social interactions," said Eleonore van Boven, chief people officer at N26.
By Suman Bhattacharyya • June 22, 2020 -
Eastern Bank to go public as pandemic accelerates need for tech
"The capital raised in the offering will allow us to increase our investments in new technologies to develop and implement an increasingly sophisticated array of banking and other financial services," the bank said in a filing.
By Anna Hrushka • June 22, 2020 -
Banking by appointment could stick as a post-COVID-19 customer habit
"Appointment setting allows you to triage customers, manage the staff levels in the branch" and decide which issues can be resolved digitally, said Jean-Pierre Lacroix, whose firm develops strategy for Regions Bank.
By Anna Hrushka • June 19, 2020 -
Andrew. (2011). "Los Angeles" [Photograph]. Retrieved from Flickr.
Welcome Technologies, Green Dot target Hispanic immigrants with bank account, card
Welcome is banking on the trust it says it's built to serve a community largely reluctant to use traditional financial institutions. But the company faces a twofold challenge, an analyst tells Banking Dive.
By Ken McCarthy • June 19, 2020 -
Former Citi executive's AI platform identifies bias in banking
Marcia Tal, a 20-year banking veteran, says her new product uses a predictive model to identify prejudice within customer and employee complaints at financial institutions.
By Anna Hrushka • June 18, 2020 -
Kabbage rolls out simplified PPP process for Uber drivers, contractors
At least 40% of coronavirus relief applicants through the online lender are self-employed, said the company's co-founder, Kathryn Petralia, adding that Kabbage is the fourth-largest PPP provider.
By Kate Patrick Macri • June 16, 2020 -
Permission granted by Credit Sesame
Credit Sesame acquires Canadian challenger bank Stack
Stack began working with Credit Sesame last year to develop Sesame Cash. That product, which launched in March, marked Credit Sesame's first foray into the digital banking space.
By Anna Hrushka • June 16, 2020 -
Q&A
How Mambu plans to expand in North America's core banking market
"Because of the agility of our technology, we were able to quickly say, 'If we can do this for lending, then let's look into banking,'" said Johanna Pugh, a managing director with the company.
By Anna Hrushka • June 15, 2020 -
Fraud caused collapse of crypto exchange Quadriga, regulator says
About 76,000 customers claim they were left without access to $163 million since the exchange went offline last year. Their lawyers asked the Mounties to exhume founder Gerald Cotten's body to prove he was dead.
By Dan Ennis • June 12, 2020 -
Will COVID-19 push contactless payments into the mainstream?
Reports show contrasting figures on the adoption of touch-and-go tech, but the coronavirus — and perhaps a push from card issuers or retailers — may prove the catalyst to change consumer behavior.
By Tatiana Walk-Morris • June 11, 2020 -
Permission granted by Truist
Truist's BB&T app tops J.D. Power mobile banking satisfaction study
The award comes as the company builds an app that combines the best features from BB&T and SunTrust's legacy products, Truist's chief digital and client experience officer told Banking Dive.
By Anna Hrushka • June 10, 2020 -
Morgan Stanley CEO sees 'flight to quality' erasing fintechs' banking inroads
Fintech app outages demonstrate that customers deserve better, James Gorman said Tuesday, and they're going to big banks to find it. Deposits at the 25 largest U.S.-based commercial banks rose by about $1.3 trillion from February to May.
By Dan Ennis • June 10, 2020 -
3 in 4 bankers think AI will separate 'winners from losers,' survey finds
Nearly 60% of respondents in a Temenos survey agreed branch banking would be dead by 2025, as AI enables banks to experience customer service, safety and security benefits.
By Anna Hrushka • June 9, 2020 -
Regions eases customers' digital adoption to prep for post-COVID banking
Virtual seminars and chat forums are just part of a push for more widespread app and mobile use, as the bank uses the pandemic to accelerate technological literacy.
By Suman Bhattacharyya • June 8, 2020 -
Permission granted by Current
Q&AHow digital bank Current builds products for essential workers
The coronavirus pandemic "has really cleared up who is providing value and who is not," CEO Stuart Sopp told Banking Dive.
By Anna Hrushka • June 4, 2020 -
Capital One ordered to disclose third-party analysis of 2019 breach
The bank argued a business agreement with cybersecurity firm Mandiant, which performed a post-mortem investigation of the breach, made the report a protected legal document.
By Samantha Schwartz • June 1, 2020
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