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The term has gone from a common brand name to a catch-all for innovative technologies in financial services to a somewhat patronizing plural noun to describe startups and their founders.


The central bank originally established a 10-year time horizon for completing upgrades to the nation's aging electronic payment system. But a task force convened by the Fed thinks that's not ambitious enough.

Independence Bancshares in South Carolina last week fired its CEO and gave up its dreams of shaking up the payments world after losing nearly $9 million on the effort. Many details are still unknown, but it looks like a case study for what can go wrong when community banks invest in technology.
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Swift CEO Gottfried Leibbrandt talks about how the global messaging network is looking to stay relevant to its bank members; the potential and limitations of blockchain technology; and his views on the startups looking to disrupt banking.

An initiative underway at Freddie Mac seeks to integrate new and existing technology to create a comprehensive suite of quality control tools designed to help lenders manage their mortgage repurchase risks.

Hackers did not steal banking or payments data from Experian, but they might as well have. Breaches like the one sustained at the company call into question the entire system of identification that banks rely on to open accounts and conduct other everyday business.
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A California company called NEFT wants to provide the online meeting place where debt-laden borrowers get together with lenders and credit bureaus to negotiate repayment plans. Backed by some prominent investors, NEFT says it offers carrots to get all the parties to participate.

Kabbage is one of many nonbank lenders looking to partner with traditional financial institutions. But the firm is facing a tough sell with bankers who worry about the risks associated with ceding control of the loan-underwriting process.

Banks have embraced it, but their customers barely use Apple's mobile payment solution.

When compared to other recent breaches, the theft of 6,400 user email addresses and passwords on the American Bankers Association's website might seem like small potatoes. But experts said the attack — the first in the association's history — was still significant and could have implications for banks.
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BB&T has rolled out a digital banking platform that lets customers customize which features appear once they log in. It saves the bank having to decide what to show and what to hide on devices with different screen sizes.
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Santander Group, the Spanish banking giant, has invested several million dollars in Ripple, one of the most prominent startups in the hotly discussed field of distributed-ledger technology.  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)