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Apple is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter.

It’s a new business as usual. The pandemic accelerated the need to do business digitally. And, after years of increasing fragmentation of partners and services, there is a movement toward consolidation.

Penny Crosman, Executive Editor, Technology American Banker; Robert Anderson, Partner, FTV Capital; Mariquit Corcoran, Group Chief Innovation Officer, Barclays; Arvind Purushotham, Managing Director and Global Head of Venture Investing, Citi Ventures; Ben Savage, Partner, Clocktower Technology Ventures

The pilot program, which Small Business Administration head Isabella Casillas Guzman called a key tool for prioritizing more equitable access to capital, is getting a two-year extension along with a boost to its maximum loan size.

Thomas Kevin Miller will succeed Barry Nelson, who is retiring in mid-April.

The Federal Deposit Insurance Corp. is the second U.S. regulator to outline strategic planning and other steps banks with more than $100 billion of assets can take to minimize damage from severe weather events and the transition to a low-carbon economy.

BCC Group, BCware and Synadia will jointly develop Web3Link, which the companies say will help banks deploy smart contracts that work with their existing technology and decentralized finance environments.

In global news this week, Apple blocks Russia's Mir network; N26 gets hit with anti-money-laundering penalties in Italy; Santander brings new B2B payments tech to Brazil; and more.

Regional and Community banks face a number of vexing trends including increasing share by the national banks, emerging challenger banks, and accelerating consumer behavior shifts to digital.

In today’s world, consumers expect simple, unified, digital experiences across every aspect of their lives.