The wealth management technology provider SigFig has raised $40 million in equity and other financing from a number of large financial and venture capital firms so that it can expand its business.

UBS is partnering with the technology developer SigFig to launch a robo platform for its 7,000 advisers, making this one of the most high-profile deals of its kind between a wealth management firm and a tech startup.

Truxton Trust's approach is just one strategy banks are using attract more wealthy clients. But whether they are exploring out-of-market opportunities, staying local or employing robo-advisers, banks all have the same goals: to generate more fee income at a time when margins from lending continue to shrink.

Some institutions have seen application volumes rise by more than 300% following the Fed's emergency rate cuts, but there are fears that CUs who bulk up on home loans now could pay the price later.

Homeowners reeling from coronavirus-induced economic shock are already enduring extremely long wait times while trying to get relief. Legislation passed last week could worsen the logjams.

What banks need to know about the coronavirus stimulus package; tech vendor Finastra hit with ransomware attack; bank CIOs confront challenge of so many employees working at home; and more from this week's most-read stories.

While federal efforts to provide funding for minority small businesses wither, a lawsuit seeks to shut down an effective source of private capital.

No matter how good generative artificial intelligence gets, consumers navigating the purchase of complex financial products will always demand the attention of expert human advisors.

It's hard to see FedNow as a revolutionary solution because it's not actually much newer, faster or cheaper in many cases than existing payment services.