Technology: Page 46


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    OnDeck Capital lands with Enova in $90M deal

    Before being acquired Tuesday, OnDeck was pursuing a bank charter — a process Enova CEO David Fisher said the combined company could explore.

    By July 29, 2020
  • JPMorgan Chase, Marqeta partner to launch virtual corporate cards

    The deal comes as payment networks have seen contactless transactions spike by as much as 150% since March 2019.

    By July 29, 2020
  • An AI processor on a futuristic printed circuit board Explore the Trendline
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    Trendline

    Artificial 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
  • Dave security breach exposes 7.5M users' data

    The challenger bank said the stolen data included names, emails, birth dates, physical addresses and phone numbers but not bank account numbers, credit card numbers or financial transaction records.

    By July 28, 2020
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    Durbin asks Fed to probe Visa, Mastercard, issuers over PINless purchases

    Many online purchases made without PINs are automatically routed through Visa or Mastercard, costing merchants more in swipe fees when more shoppers are buying remotely.

    By July 27, 2020
  • How the human touch in Umpqua's Go-To app became a relationship driver

    Since March, the Oregon-based bank has seen a 30% jump in signups for the platform, which lets customers text their preferred personal banker.

    By July 24, 2020
  • Banks can provide crypto custody service, OCC says

    "This opinion clarifies that banks can continue satisfying their customers' needs for safeguarding their most valuable assets, which today for tens of millions of Americans includes cryptocurrency," the OCC's Brian Brooks said.

    By July 23, 2020
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    IBM
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    Bank of America-IBM cloud collaboration lands BNP Paribas

    MUFG Bank, Japan's largest, is also said to be exploring financial services cloud deployment. The news comes as IBM forms an advisory council to advance its cloud policy framework tailored to financial services.

    By Naomi Eide • July 23, 2020
  • FDIC hatches plan to help fintechs, community banks partner

    Under the idea, fintechs could apply for one certification that would be accepted at a number of banks rather than negotiating individual agreements.

    By July 23, 2020
  • Bank of the West rolls out climate-conscious checking account

    The bank will donate 1% of net revenues generated from the account to support environmental nonprofits. The account's tracking tool lets customers see the carbon impact of purchases made with the debit card.

    By July 22, 2020
  • Kabbage Insights Desktop: Daily Cash Flow
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    Kabbage launches small-business checking account

    The fintech said it plans to roll out several additional features connected to the account this year, including wire transfers and mobile remote deposits.

    By July 22, 2020
  • Robinhood indefinitely postpones UK expansion

    In the latest setback for a trading app that saw 3 million new accounts in the first quarter of 2020 but also was sued over a series of March outages, the company said it's closing its 250,000-person waitlist.

    By July 21, 2020
  • Plaid faces 2nd lawsuit over alleged data privacy violations

    The complaint accuses the company of showing users login screens that look identical to those of their banks but wholly controlled by Plaid. Over 200 million Venmo, Stripe, Coinbase and Cash App accounts are affected, the suit says.

    By July 20, 2020
  • Finicity building
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    Q&A

    Mastercard deal brings Finicity to global stage, CEO says

    "The days of the walled garden approach to data sitting at a bank, only good for the bank and not so much good for the consumer, are over with the advent of open banking," Finicity CEO Steve Smith told Banking Dive.

    By July 17, 2020
  • Rho looks beyond small businesses in digital upgrade

    The challenger bank said it grew its customer base 150% during the pandemic, pulling clients away from traditional banks as branches closed.

    By July 16, 2020
  • Opinion

    Blockchain technology will remove barriers to instant international settlement

    Participants on a next-generation network can transact and have the transaction visible and settled between parties in minutes or even seconds instead of days, writes Haohan Xu, the CEO of Apifiny.

    By Haohan Xu • July 16, 2020
  • Aspiration Bank mobile app
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    Aspiration CEO banks on customers' social conscience

    The bank allows debit card customers to round up purchases to the nearest dollar in an initiative that plants trees. But are consumers less apt to be green amid COVID? Not in the least, CEO Andrei Cherny says.

    By July 14, 2020
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    SoFi files for national bank charter with OCC

    A national charter would let SoFi operate under a unified set of national regulations instead of the "patchwork of varying requirements" it follows to comply with regulations across 50 states, the company said.

    By July 10, 2020
  • KeyBank branch
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    Q&A

    KeyBank'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 July 7, 2020
  • Kabbage Insights Desktop: Daily Cash Flow
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    Courtesy of Kabbage Media
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    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 July 2, 2020
  • BBVA USA's personal banker bar
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    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 July 1, 2020
  • Ally Financial, NYSE facade
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    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 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 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 June 25, 2020
  • Renaud Laplanche, CEO and co-founder of Upgrade
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    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 June 25, 2020