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Quants are still around, and their computer, math and statistical modeling skills are still sorely needed in banking. But they're more likely to apply their brainpower to stress tests than to pricing complex derivatives or exotic products.

Features

A handful of banks are upgrading their apps with Siri-like "virtual assistants" that understand spoken questions at a time when most institutions don't even let digital customers do typed keyword searches of their transaction data.

VidVerify, a new company started by a co-founder of Lenders One, produces online videos that educate borrowers on the milestones of the mortgage process, while helping lenders ensure regulatory compliance.

Critics concede Bitcoin's innovations may change finance but predict the system itself isn't long for this world. Nasdaq is challenging that idea by not only testing Bitcoin's much-vaunted blockchain technology, but doing so on the Bitcoin network.
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After the industry rejected a 2012 plan for speedier electronic payments, its authors made two key changes designed to win over banks that would have borne costs without seeing many benefits.

Banks' technology investments are helpful but fail to ease customer concerns about the security of personal data, hidden fees and other problems, a new survey shows.

In its new 80,000-square-foot development center, the bank is adopting the look, feel, and practices of fintech startups. It’s also moved some of its developers into an incubator to collaborate directly with local entrepreneurs.

Each time Elavon, a payments-processing unit of U.S. Bancorp, launches a new product, its R&D lab steals a page from rock 'n' roll history to mark the occasion.

So far, Washington has generally smiled on tech-driven lenders such as Lending Club and OnDeck. But many in the fast-growing industry are now bracing for closer scrutiny.

As its military members quickly adopt facial, voice and fingerprint recognition, USAA is finding out the demographics of users skew older than expected.

As banks compete for tech talent against the Ubers and Amazons of the world, a new startup called untapt offers algorithmic matching of workers and bank tech jobs.
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Disruptors
It took three or so days to settle stock trades. What if that could happen instantly and be recorded on a blockchain for everyone to see?  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)

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