Technology: Page 7
-
The image by Tyler Lahti is licensed under CC BY-SA 4.0
Truist customer data exposed in third-party breach
The February breach involved personal information held by debt collector Financial Business and Consumer Solutions and did not impact Truist’s network, the bank said in a letter.
By Rajashree Chakravarty • Oct. 8, 2024 -
Leon Neal / Staff via Getty Images
FTX bankruptcy plan would give ex-customers an extra 19%
Creditors will receive up to $16.5 billion, nearly two years after their funds were frozen by the crypto firm’s shocking bankruptcy, according to a plan approved by a judge Monday.
By Gabrielle Saulsbery • Oct. 8, 2024 -
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 -
Creative via Getty Images
Tech costs, regulatory demands among community bankers’ top worries
A recent survey of community bankers also cited cost of funds as a top risk, amid the higher rate environment. “Right now, our motto is ‘Survive until 2025,’” a Pennsylvania community bank CEO said.
By Caitlin Mullen • Oct. 8, 2024 -
Daniel Boczarski via Getty Images
Fiserv teams with Canadian company on open banking
Fiserv has allowed Zūm Rails to use its embedded finance system to bring open banking and instant payments to Fiserv’s U.S. business customers.
By Patrick Cooley • Oct. 4, 2024 -
focusstock via Getty Images
Banking tech alliance drafts enterprise AI adoption guidelines
The Fintech Open Source Foundation, which now includes Nvidia and Moody’s, outlined LLM risks and control measures to guide deployment in the industry.
By Matt Ashare • Oct. 4, 2024 -
BMO hires Morgan Stanley, JPMorgan alum as AI, data chief
Kristin Milchanowski’s appointment as the new chief artificial intelligence and data officer signals the Canadian lender’s heightened commitment to the burgeoning technology.
By Rajashree Chakravarty • Oct. 3, 2024 -
Justin Sullivan / Staff via Getty Images
Bank of America users report online access issues
Some customers said they were unable to sign in to their accounts. Others reported seeing incorrect or untimely balances. The issues “have largely been resolved,” the bank said Wednesday night.
By Dan Ennis • Oct. 3, 2024 -
Sitthiphong via Getty Images
Oportun inks deal to sell credit card portfolio
The deal, expected to close in November, is a push by the online lender to pursue profitability by simplifying its business and focusing on its core products.
By Rajashree Chakravarty • Oct. 2, 2024 -
Monica Schipper via Getty Images
State Street taps BNY exec as head of digital assets
Vanessa Fernandes, a 25-year financial services veteran, will report to Donna Milrod, who has been overseeing digital asset solutions since Nadine Chakar, the unit’s head, left in January 2023.
By Rajashree Chakravarty • Oct. 1, 2024 -
Creative via Getty Images
Banks are excited about AI. Their customers aren’t so sure.
To address that, lenders need to be more transparent about their artificial intelligence use and educate customers on the benefits and safeguards involved, analysts said.
By Caitlin Mullen • Sept. 30, 2024 -
Courtesy of Adyen
Kansas City Fed dissects consumer use of digital payments
About 95.5% of U.S. households have a bank account, and 46.4% use a nonbank payment service, a new report says. Meanwhile, the Boston Fed found more consumers are using credit cards to make ends meet.
By Tatiana Walk-Morris • Sept. 30, 2024 -
shutterstock.com/Verticalarray
Sponsored by EncaptureWhy automation is no longer a buzzword — it’s a necessity
Encapture's automation is helping banks keep up with evolving compliance demands.
By Brynna Desantiago, Head of Marketing at Encapture • Sept. 30, 2024 -
ArtistGNDphotography via Getty Images
Sponsored by Giesecke+Devrient (G+D)How financial institutions can lead the future of digital banking and payments
As financial institutions face growing competition in the digital payments landscape, they must innovate by offering secure and personalized mobile-first experiences.
By Mark Van Horn • Sept. 30, 2024 -
Justin Sullivan / Staff via Getty Images
Bank of America adds family banking to give parents control of kids’ spending
The lender isn’t the first to launch such a product, as the opportunity to grow with Gen Z and Gen Alpha draws more players.
By Caitlin Mullen • Sept. 26, 2024 -
Leon Neal via Getty Images
Coinbase urges court to force SEC to draft digital asset rules
A lawyer for the crypto exchange said the agency still hasn’t explained its reasoning for denying a request for guidelines as to how it determines what is a security.
By Caitlin Mullen • Sept. 25, 2024 -
Permission granted by Sezzle
Q&ASezzle evolves alongside BNPL industry
The company now offers more products but also faces more regulatory pressure, Sezzle CEO Charlie Youakim said.
By Patrick Cooley • Sept. 25, 2024 -
Matt Sampson Photography/ iStock / Getty Images Plus via Getty Images
Silvergate exec cites ‘supervisory pressure’ in bankruptcy filing
The crypto-heavy bank's parent company has no remaining lines of business and followed its subsidiary into Chapter 11 on Tuesday.
By Gabrielle Saulsbery • Sept. 19, 2024 -
Permission granted by Brex
Brex rolls out embedded payments tool
With the new offering, the fintech aims to capture a larger share of the B2B payments market, working with partners in addition to selling directly, Brex's president said.
By Rajashree Chakravarty • Sept. 18, 2024 -
Douglas Rissing via Getty Images
Fed payments proposal pits big banks against small rivals
Large institutions welcome the move to extend the operating hours of two interbank payments systems, but smaller ones may feel the squeeze of increased workload, staffing and competition.
By Lynne Marek • Sept. 18, 2024 -
Anna Hrushka/Banking Dive
FDIC seeks tougher recordkeeping on fintech partners
The regulator also approved a policy update to consider small business and residential loan originations, in addition to deposits, when evaluating a merger’s competitive effects.
By Gabrielle Saulsbery • Sept. 17, 2024 -
Mario Tama / Staff via Getty Images
BNY CFO: Archer purchase fills ‘capability gap’
In the balance of build-vs.-buy, the bank was creating too much from scratch, and to build its own retail wealth pathway would have been a “bridge too far,” BNY CFO Dermot McDonogh said last week.
By Caitlin Mullen • Sept. 17, 2024 -
Spencer Platt / Staff via Getty Images
Citi tech chief to share data responsibility with COO: memo
Anand Selva will co-lead the data program with Tim Ryan. Japan Mehta, the outgoing data chief, will transition Ashutosh Nawani into the new role of head of enterprise data office and data transformation, the memo said.
By Rajashree Chakravarty • Sept. 16, 2024 -
Courtesy of U.S. Bank
U.S. Bank reaches its proving ground
The super-regional is at an “inflection point” after recent acquisitions and tech updates, CEO Andy Cecere said at the bank’s investor day. One analyst, however, is calling for “a new set of eyes at the top.”
By Caitlin Mullen • Sept. 13, 2024 -
Spencer Platt via Getty Images
JPMorgan Chase to equip 140K workers with genAI tool
The bank expects up to $2 billion in artificial intelligence-related upside, President Daniel Pinto said at this week's Barclays conference.
By Lindsey Wilkinson • Sept. 12, 2024 -
Permission granted by SpringFour
Debt recovery software firm acquires SpringFour
Under the acquisition by C&R Software, social impact fintech SpringFour plans to continue innovating and bringing new solutions and products to the collections and debt recovery market.
By Rajashree Chakravarty • Sept. 4, 2024
Previous
