Can banks win at agentic commerce? What's next for real-time payments? And where are mobile wallets headed? The industry's top experts will dive into these issues at American Banker's Payments Forum from May 4-6 in San Francisco.
The stock exchange is using the artificial intelligence extensively throughout the organization, including in development of a distributed ledger for tokenized securities.
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BVNK's technology enables traditional currency and stablecoins to work together, and will enable the card network to improve distribution for clients that use digital assets.
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While it's moving away from embedding transactions in ChatGPT to funneling purchases through third parties, analysts say the artificial intelligence lab's shift doesn't dilute the threat large language models pose to traditional card issuers.
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The Federal Reserve's recently published request for information on options for updating its check clearing apparatus has bankers fearing that it will opt to phase out paper checks entirely — an outcome that has community banks panicked.
The Providence, Rhode Island-based bank has steadily revamped certain parts of its strategy. Now, it will update its systems for serving customers.
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Chris Shelper is now the sole chief banking officer at First Interstate BancSystem; Kristy Fercho joins LERETA's board of directors; Truist Financial launches a business focused on private equity and family office transactions; and more in this week's banking news roundup.
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The 170-year-old Salem Five Cent Savings Bank has hired one private banker and could scale the business further if its performance matches management's expectations.
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MetroCity Bankshares in Doraville, Georgia, plans to finalize its acquisition of First IC Corp; Rockefeller Capital Management's Brian D. Riley will join BNY Wealth as global head; Blackstone appoints former Morgan Stanley rainmaker Franck Petitgas to a top role in Europe; and more in this week's banking news roundup.
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In an interview at ICE Mortgage Technology's annual conference, Bob Broeksmit also expressed skepticism of market dominance among just a few large lenders.
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A Federal Housing Finance Agency report suggests it should have more authority over companies that work with Fannie Mae and Freddie Mac.
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Americans 70 years or older held 26% of the United States' $48 trillion in real estate wealth in the third quarter of last year, Redfin said.
A new report from the Consumer Federation of America says the true cost of online scams is an estimated $119 billion per year; Associated Banc-Corp moves forward with its planned acquisition of family owned American National; Servbank HoldCo completes its acquisition of IF Bancorp; and more in this week's banking news roundup.
The long-defunct Nationwide Biweekly Administration, accused in 2015 of deceptive marketing, has been ordered to pay a $7.93 million civil money penalty.
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Branchless and out-of-state banks are harvesting deposits in Florida and lending them out elsewhere, a situation that leads to serious underinvestment in desperately needed infrastructure and affordable housing.
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New research sheds light on the real causes of bank failures; and the economic numbers aren't adding up to a recession, yet.
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If we allow algorithms to inherit yesterday's incentives — maximizing return, minimizing empathy — then tomorrow's system will be flawlessly efficient at reproducing inequality.
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VALT, a digital-oriented small-business lender founded by U.S. Bank veteran Matt Gediman, received approval for its denovo charter application from the Office of the Comptroller of the Currency 120 days after its application, clearing a key regulatory hurdle at a time when regulators are encouraging the formation of more startup banks.
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The systemic risks posed by stablecoins on public blockchains go further than deposit flight and market dislocation — there's also technology risk. But Noelle Acheson argues that these should be incorporated into guardrails rather than used to stop progress.
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Diligence Capital Management's proposals and board nominations for the beleaguered Eagle Bancorp won't be put before shareholders. But the activist investor isn't giving up the fight.
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A recent executive order encouraging changes to the Consumer Financial Protection Bureau's Ability-To-Repay and Qualified Mortgage rules are adding to a packed agenda at a time when the agency has lost a third of its staff.
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Some lenders and condo market stakeholders are raising concerns that new GSE rules ending limited reviews and tightening reserve requirements could raise costs.
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Bank of Montreal has introduced a tokenized cash and deposit platform, while the London-based Monument is partnering with the Midnight Foundation's distributed ledger. Also, Starling Bank's AI play, stablecoins gain ground in APAC and Africa and more in the American Banker global payments and fintech roundup.
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Diligence Capital Management's proposals and board nominations for the beleaguered Eagle Bancorp won't be put before shareholders. But the activist investor isn't giving up the fight.
A recent executive order encouraging changes to the Consumer Financial Protection Bureau's Ability-To-Repay and Qualified Mortgage rules are adding to a packed agenda at a time when the agency has lost a third of its staff.
Under Habner's leadership, Citi has become the third largest issuer in the U.S. general purpose credit card market.
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