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Several core processing vendors with mobile-age platforms have sprung up in the past year. Making a lasting mark in a field dominated by entrenched vendors will take time.

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Of the 10 fintech startups that pitched their wares at startupbootcamp FinTech New York on Wednesday, half plan to sell their software to banks. Only a few vie to take on established players.

The bank is using software "robots" — 30 of them, according to its CEO — to cut costs and shift workers to more fulfilling work.

Amalgamated Bank and Banco Popular, financial institutions with niche appeal, are rolling out national online platforms, calling into question what it means to be a community bank today.
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A certification process can provide participants in smart contracts with greater assurances they won't lose their money (see: the DAO). But in distributed systems, the true test of security comes when software is released into the wild.

Morgan Stanley outlined its plans for deploying automated advice tools, with executives emphasizing that it was only a part of its digital strategy.

Bank chief information security officers are increasing cybersecurity spending and focusing on mobile banking defense and regulators' cyber concerns, a SourceMedia Research survey finds.
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The investment banking firm's GS Bank unit has added a large number of consumer deposits since spring, but its success hasn't been cheap.

Some banks are looking to reenter the payday-lending market now that a recent CFPB proposal has given them greater regulatory clarity. But they may need help from technology companies to make a very labor-intensive business more profitable.

Wells Fargo plans to pilot a digital advice platform in early 2017, according to a high-ranking executive at the wirehouse.

If the financial services industry wants to avoid spending years aimlessly testing blockchain prototypes, it needs to focus on coming up with standards and working together.
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Disruptors
Visa and Mastercard both face the prospect of becoming "dumb pipes" as other companies innovate on top of their networks. To combat this trend, both are taking steps to be major players in the digital economy.  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)