Miriam Cross

The regional banks are moving past old-school collection calls, instead using emails, texts and on-screen messages to urge delinquent customers to repay debt. Modern communications are said to be more efficient and in keeping with Consumer Financial Protection Bureau debt-collection rules set to take effect Nov. 30.

Lincoln Parks at Heritage Bank in Georgia built from scratch its social media following, a digital-only way to open accounts and (in 48 hours) a Paycheck Protection Program lending system. For these and other efforts, Parks is a runner-up for American Banker’s Digital Banker of the Year.

The way merchants handle payments is becoming just as important as the actual business they're in, says Jeremy Balkin, global head of innovation and corporate development at J.P. Morgan Payments.

Hispanic adults are underbanked compared with their white counterparts, according to the Federal Reserve. Challenger banks such as Tend and Viva First are reaching out to this population with bilingual services and low-cost money transfers.

Accrue Savings is introducing a savings account that is tied to specific retailers, allowing customers to gradually accumulate the amount they need to buy an item and earn cash rewards for making progress toward their goals.

FV Bank will let users hold crypto and traditional currencies in the same account. It says it can do that because it’s licensed in the U.S. territory as a bank and a digital-asset custodian.

These venture capital firms are investing in young companies that could help small financial institutions meet their growing technology needs.

The California bank is directing $30 million to Stride Funding, a provider of flexible student-payment options, to finance deferred tuition for participants in a technology upskilling program.

The bank says it's an investor in and will refer clients to Trovata, which gathers transaction data directly from multiple banks to automate cash reporting, forecasting and analysis for midsize and large companies.

JAM Fintop's Banktech fund, which is backed by community banks, has invested in Monit, a small-business predictive analytics company. Two of the banks have expressed interest in using its product.

During the pandemic, the use of digital assistants by low- to moderate-income consumers has soared. One reason: Those seeking loan modifications or fee waivers see the technology as less intimidating than humans.

The bank is giving virtual reality headsets to branch employees, which they'll use to practice conversations in private before they happen in real life.

KeyBank's chief information officer has a to not only to help tech employees keep growing professionally, but to make sure they have the skills the bank will be needing in the years ahead.

Rather than targeting the masses, the founders of these neobanks are narrowing their focus to serve people who may benefit from specialized products and services. The latest example: Nerve, a banking app for musicians.

With tricked-out conference rooms, online career development tools and blocks of time for chitchat, Ally and Citizens are strengthening connections between colleagues during phased returns to the office.

Arvest Bank is hoping its version of a virtual branch — a stand-alone app that uses chat to forge a long-lasting relationship between bankers and clients — will suit its customers who prefer one-on-one interaction.

The creators hope CU Offers, which lists discounts at local and national businesses, will attract new members and strengthen ties with existing ones. But observers are skeptical that it will drive real growth or inspire frequent use.

Fintechs and banks have stepped up their efforts to help so-called “credit invisibles” obtain credit through secured cards, specialized installment loans and use of alternative data in underwriting. Amid much progress, questions remain about how effective these tools really are.

In combining with the special-purpose acquisition company InterPrivate III Financial Partners, the fintech says it will have more than $400 million to pour into marketing campaigns and invest in new technology.

Credijusto, the first fintech in Mexico to buy a bank, plans to cater to a market that traditional banks often overlook: smaller businesses engaged in commerce between the two countries.