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SunTrust is turning to fintech to help it provide better payments solutions to its business customers. The approach is novel because so much of fintech innovation centers on overhauling retail banking.


Banks' in-house venture funds tend to favor mature fintech companies, but BBVA's establishment of an outside fund should help the bank get in on the ground floor with early-stage companies.

A cybercrime ring that reportedly stole $1 billion from banks around the world last year is back, using different tactics. For one thing, it's more often going after banks' corporate customers, making its activities harder for banks to detect.

Asset growth drove the Pennsylvania bank to create software that helps it vet and monitor vendors, with automated tracking of contracts and deadlines and storage of supporting documents.
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Inspired by marketplace lenders, Live Oak Bancshares created a largely digital product that can make a credit decision on a small-business loan within 48 hours. The product, which combines human decision-making and automated credit scoring, could go national as early as next year.

Some say the U.S. payments infrastructure is a prime target for government-sponsored cybercriminals. But the aged and fragmented nature of our infrastructure could, for once, work in its favor.

Orrstown Bank launched several innovative web initiatives in 2015, including a SMS two-way texting platform and a Zillow-like feature that displays housing listings on its Web presence.

The honorees, selected by the editors of PaymentsSource, are responsible for businesses and innovations as diverse as the payments industry itself.

Bank of Prairie Village in Kansas went through a core conversion last year. Its chairman hopes that his sons, who are set to take over the bank eventually, won't be afraid to embrace new technology since they've experienced the scariest of all bank IT projects.

Human error opens the door for most cybersecurity incidents. mBank in Poland, U.S. Bank and Bank of the West are working to make consumers more aware of the dangers of bad online habits.

Rather than partner with a startup, 45-year-old Equitable Bank in Canada created a separate brand, EQ Bank, to acquire customers who are ready for an account without a debit card.
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Much of the growth in wearable technology is happening without an eye to enabling payments. This is prompting many companies to find a way to add payment capabilities to wearables without forcing users to buy an entirely new device.  read more »
8 Things Apple Pay Left Out

Apple's long-anticipated move into mobile payments seemed to cover all the bases -- Apple Pay will launch with the support of major banks, card networks and retailers. But there were several things that didn't make it into the first version of its mobile wallet.

(Image: Bloomberg News)