Visa headquarters in Foster City, Calif.

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.

Technology
Mastercard

Assemble allows Mastercard partners or issuers to provide checking, budgeting and payment features, as well as additional money management.

Christopher Waller

Federal Reserve Gov. Christopher Waller has directed central bank staff to explore the concept of a limited payment account, which would give nonbank entities in the payments space — including crypto firms — access to traditional payment systems.

SEE ALL OF THE LATEST
Sign up for Newsletters
  • Daily Briefing
    Delivered Every Weekday
    Ideas that impact your business delivered to your inbox every day.
  • Technology
    Wednesday, Thursday
    The latest industry developments from digital banking to cybersecurity to AI.
  • Payments
    Delivered Every Weekday
    An early-morning roundup of important headlines from the past 24 hours.
  • Best of the Week
    Friday
    The most important and widely read stories from the previous week.
Call for Nominations
chart visualization

Unlike some of its expansion-minded regional bank peers, Montana-based First Interstate is reconfiguring its business model to be smaller and more focused on relationship banking. The blueprint is the work of CEO Jim Reuter, who joined the bank 15 months ago.

President Trump Signs Order Establishing White House Great American Recovery Initiative

Renat Abramov, a former relationship manager in Brooklyn, bypassed know-your-customer protocols to open accounts for shell companies involved in a $14.6 billion scheme.