Technology: Page 28
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Permission granted by Modern Treasury
Sponsored by Modern TreasurySoftware is changing payments and banks should care
In the future, all payments will begin and end in software. To remain a part of clients’ financial lives, banks need to play well with software.
Aug. 1, 2022 -
Permission granted by Grain
Sponsored by GrainFraudsters are out to get the digital banking industry: How fintechs can significantly mitigate risk
By implementing strategies surrounding prevention and detection, the overall damage and negative impact of fraud can be significantly decreased – and both customer and stakeholder trust can be regained and supported.
By Carl Memnon, Co-founder and COO of Grain Technology • Aug. 1, 2022 -
Explore the Trendline➔
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TrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
Chip Somodevilla via Getty Images
ColumnCrypto ‘citizen’s arrests’ may continue until Congress wrangles ‘Wild West’
The SEC, DOJ and Treasury are all patrolling the digital asset space. The CFTC is calling for unity. And lawmakers’ vision for a cohesive strategy just took a summer vacation.
By Dan Ennis • July 28, 2022 -
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Grasshopper Bank leans into BaaS
The deal to offer banking-as-a-service to fintech Treasure Financial marks a first for the New York City-based bank, which, under CEO Mike Butler, has broadened its focus to include the small-business sector.
By Anna Hrushka • July 27, 2022 -
Craig Barritt via Getty Images
Crypto firm Voyager accuses FTX of tanking bankruptcy process
By publicly offering Voyager customers access to cash for their stranded assets, FTX is “chilling” Voyager’s once-private trawl for buyers with a “low-ball bid dressed up as a white knight rescue,” the bankrupt crypto firm said.
By Dan Ennis • July 26, 2022 -
Retrieved from Shutterstock.
Sponsored by eFax CorporateWhat the POTS shutdown will mean for faxing in the banking industry
The FCC is officially closing the door on analog/copper POTS lines. Read what this means for the banking industry.
July 25, 2022 -
Courtesy of KeyBank
KeyBank, Truist execs share their approaches to fintech partnerships
Acquiring a startup can help a bank keep up with consumer demand for new products, reach new customers and compete with nonbank entities. And, as Truist learned, banks don't always have to initiate.
By Anna Hrushka • July 21, 2022 -
Streeter Lecka via Getty Images
Truist counters higher personnel expenses with money-saving cloud integration
“It gives us comfort that our expenses will be contained over the next year or two,” Daryl Bible, the bank’s CFO, said Tuesday during a second-quarter earnings call.
By Lindsey Wilkinson • July 20, 2022 -
Courtesy of Starling Bank
UK fintech Starling pulls Irish banking license application
"Sometimes changing course is the right option," CEO Anne Boden wrote Monday in a memo to employees. The company still plans to expand to Europe through software-as-a-service deals with other lenders, Boden said.
By Anna Hrushka • July 19, 2022 -
Alex Wroblewski via Getty Images
JPMorgan's Dimon blasts 'capricious, arbitrary' Fed stress tests
“It’s inconsistent. It’s not transparent. It’s too volatile,” the CEO said of the stress test. JPMorgan said last month it would keep its dividend payouts flat in response to the central bank’s capital requirements.
By Anna Hrushka • July 15, 2022 -
Mario Tama via Getty Images
Morgan Stanley sets aside $200M over personal-device misuse probe
The disclosure, in the bank’s earnings report Thursday, follows warnings by Citi, Goldman Sachs and HSBC regarding regulator activity. The figure mirrors an amount JPMorgan paid in December over similar allegations.
By Dan Ennis • July 14, 2022 -
Chris Hondros via Getty Images
Goldman poaches Google incubator's founder to run innovation office
Jared Cohen may be the highest-profile tech hire the bank has made since it lured Peeyush Nahar away from Uber to run Marcus. Time will tell whether the innovation office will help Goldman reverse its recent talent drain.
By Dan Ennis • July 13, 2022 -
Permission granted by Gohenry
Gen Z banking app GoHenry expands to Europe through Pixpay acquisition
As a growing number of neobanks compete for young customers, GoHenry’s acquisition of Pixpay, which also targets the Gen Z crowd, is a move in the direction of potential additional industry consolidation.
By Anna Hrushka • July 12, 2022 -
Drew Angerer via Getty Images
Brainard urges more oversight of crypto
The Federal Reserve vice chair on Friday said the May collapse of the Terra stablecoin, which wiped out millions of dollars in a matter of days, was “reminiscent of classic runs throughout history.”
By Anna Hrushka • July 11, 2022 -
Aila Images/Shutterstock.com
Sponsored by Aspire SystemsInsurers strike gold with the right analytics tool amid the digital shift
Learn how a leading US insurer cut software license costs by 10% with Aspire’s ServiceNow solution.
July 11, 2022 -
Can banks benefit from the wave of fintech layoffs?
The fintech sector’s funding woes could be the answer to banking’s tech talent shortage.
By Anna Hrushka • July 7, 2022 -
Dan Kitwood/Getty Images News via Getty Images
Crypto brokerage Voyager files for Chapter 11 bankruptcy
The move allows the company to reorganize as it seeks to recover losses from a defaulted loan to hedge fund Three Arrows. A firm owned by FTX CEO Sam Bankman-Fried is Voyager's largest creditor.
By Dan Ennis • July 6, 2022 -
Permission granted by Revolut
Revolut names new US CEO to accelerate North American growth
The move represents an expansion of responsibilities for Sid Jajodia, who will continue to serve as the company’s chief banking officer, a role he’s held since July 2021.
By Anna Hrushka • July 5, 2022 -
Retrieved from Novi on May 27, 2020
Meta to shutter Novi digital currency project Sept. 1
The company’s website tells users how to withdraw funds and access transaction data that they’ll lose access to once the Novi pilot ends. Meta, however, said it plans to use Novi’s technology in future projects.
By Dan Ennis • July 5, 2022 -
Craig Barritt via Getty Images
FTX could buy BlockFi for up to $240M
The deal boosts — to $400 million — a revolving credit facility the crypto exchange offered the lender last month. The potential purchase price may vary based on “performance triggers.”
By Robin Bradley • July 1, 2022 -
Veriff/Jake Farra
Sponsored by VeriffInnovation's role in improving onboarding and blocking bad actors
In an increasingly digital world, where food, entertainment and transport are available on-demand, today's banks must take customers' expectations into account in order to remain competitive.
July 1, 2022 -
Bank regulators' heightened scrutiny of AI highlights third-party risk
As regulators signal a tighter focus on artificial intelligence and machine learning, banks need to be vigilant about their internal models, as well as the models used by vendors, an expert says.
By Anna Hrushka • June 29, 2022 -
Permission granted by BetaBank
Chicago de novo taps Google to build bank on the cloud
The startup bank submitted its application for deposit insurance with the FDIC in April, and plans to use a proprietary lending algorithm to provide small business owners unbiased access to flexible capital, founder Seke Ballard said.
By Anna Hrushka • June 22, 2022 -
Shutterstock.com / jamesteohart
Sponsored by AmdocsHow banks can incorporate a digital‑only strategy into their business
As traditional banking relationships are being disrupted, opting to appeal to the tech-savy next generation of consumers has become paramount.
June 21, 2022 -
Permission granted by Truist
Truist opens Innovation Technology Center in Charlotte headquarters
The 100,000-square-foot space is a physical manifestation of the bank’s technology, touch and trust concept, said Ken Meyer, Truist’s divisional CIO and experience officer.
By Anna Hrushka • June 21, 2022
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