'Systemically important' cloud firms lack oversight, lawmakers say

A disruption to Amazon Web Services, Microsoft Azure or Google Cloud could paralyze a significant portion of several banks' business and perhaps be a national security threat, lawmakers wrote.

By Dan Ennis • Aug. 26, 2019

Advocates seek 'unified voice' from regulators on small-dollar loans

U.S. consumers borrow nearly $90 billion every year in loans between $300 and $5,000, the Office of the Comptroller of the Currency said. But few banks are moving into that market.

By Anna Hrushka • Aug. 23, 2019

Explore the 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

JPMorgan to shutter stand-alone Chase Pay app

The platform will still be available through merchants' websites and apps, but the reversal illustrates the bank's pattern of quickly scrapping its initiatives.

By Dan Ennis • Aug. 22, 2019

Technology, reach make hot bargain chips in torrid banking M&A season

Smaller banks are finding it hard to keep up with tech costs. Larger banks want to expand their reach. That makes for a booming merger market.

By Del Dobbs • Aug. 22, 2019

HSBC hires flash mobs to hype tap-and-go tech

The bank is using New York's new cardless subway network to boost awareness that all of its cards are contactless. Other banks are moving quickly to adapt.

By Dan Ennis • Aug. 21, 2019

Apple rolls out Goldman-backed card as Mastercard touts security

Customers can opt for a tokenized version of the card that won't display a 16-digit number on the front, making for a safer user experience, a Mastercard executive said.

By Dan Ennis • Updated Aug. 22, 2019

Bank of America files patent application for crypto wallet with tiered security

The system would boost security, the bank said, by letting customers use one password to access one tier of assets, and other passwords for further levels.

By Dan Ennis • Aug. 20, 2019

Cloud security burden falls on customer, Amazon exec says

Only customers have a true sense of "what they intended with resources under their control," Amazon Web Services' chief information security officer said after a senator asked about the company's role in Capital One's data breach.

By Samantha Schwartz • Aug. 20, 2019

Crypto exchange Binance to launch Libra-like currency

CEO Changpeng Zhou tweeted Monday that his exchange is not seeking to dominate Facebook's Libra with the Venus project. "Always happy to co-exist," he wrote.

By Dan Ennis • Aug. 19, 2019

Capital One buys robo-adviser United Income

The acquisition comes a year after Capital One took a 10% stake in the wealth management platform.

By Anna Hrushka • Aug. 19, 2019

Bias from AI lending models raises questions of culpability, regulation

The number of data points used in AI lending models — and a lack of diversity among people creating them — raise red flags.

By Dan Ennis and Tim Cook • Aug. 16, 2019

Mortgage industry discovers path to back-office automation

Can mortgage processes get any easier? See how some leaders are transforming their back-office.

Aug. 15, 2019

Capital One's hacker breached more than 30 organizations, prosecutors say

The servers found in Paige Thompson's bedroom held data from the bank and other entities, though the data is not personally identifiable information.

By Samantha Schwartz • Aug. 15, 2019

Challenger banks ride record wave of venture capital, report shows

The startups raised $649 million from 17 deals in the second quarter of 2019, and year-to-date spending has already surpassed last year's.

By Dan Ennis • Aug. 14, 2019

Venmo adds instant bank transfer feature

In the coming weeks, users will be able to transfer funds to their bank accounts within minutes for a 1% fee.

By Anna Hrushka • Aug. 13, 2019

Five ways AI is empowering customer-facing employees in the financial services industry

Customer experience is becoming the key competitive differentiator in financial services and insurance companies, with AI on the forefront.

Aug. 13, 2019

Banks' use of social media matures, ABA finds

More than 80% of respondents said they "agree" or "strongly agree" that social media are important, up from 76% according to a parallel study the trade association conducted in 2016.

By Anna Hrushka • Aug. 9, 2019

Fintechs lower high-yield interest rates following Fed cut

Despite the drop, Betterment, Wealthfront and digital banks are still offering some of the industry's highest interest rates for savings accounts.

By Anna Hrushka • Aug. 8, 2019

How a Silicon Valley startup is using open banking to fight false declines

Incorrectly flagged or canceled transactions cost the market 10 times the amount credit card fraud does, the CEO of Deep Labs said, citing an Aite Group study.

By Anna Hrushka • Aug. 6, 2019

Fed commits to real-time payments system by 2024

The central bank looks to bring faster transactions to community bank customers and act as a safeguard in a marketplace already served by The Clearing House.

By Dan Ennis • Aug. 6, 2019

Walmart may tap unbanked market with cryptocurrency plan

The retailer filed a patent to develop a cryptocurrency as an end-run around credit card transaction fees.

By Dan Ennis • Aug. 5, 2019

Apple reduces Barclays rewards ahead of Goldman-backed card launch

An interface on Apple's Wallet app will break purchases down into categories to better identify spending behaviors.

By Dan Ennis • Aug. 2, 2019

Capital One breach raises questions about security and cloud-first strategies

If a breach hits a company with technology maturity, how vulnerable are less mature organizations?

By Naomi Eide • Aug. 2, 2019

Why back-office automation is the secret to better banking

The average bank manages 300-800 back-office processes. Automation is easier than you think.

Aug. 1, 2019

Digital bank Green Dot targets broader market with new high-yield savings account

The 3% yield puts it at the top of a market that this year includes efforts from Betterment, Wealthfront and Robinhood.

By Anna Hrushka • July 31, 2019