Penny Crosman

Consumer advocates and fintechs say the traditional credit score and lending systems that use it are murky and perpetuate bias. FICO’s leader points out that new FICO scores use expanded data sets, just as fintechs do.

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.

Banks must comply quickly with fast-moving sanctions against the Kremlin and have to spot questionable Russian companies and wealthy individuals. At the same time, some need to deal with settlement risk of trades that involve rubles. Sophisticated data sharing and analysis are making it easier to do the job.

JPMorgan Chase and HSBC are among the banks that have set up shop in virtual worlds or plan to.

EasyPay Finance, a fintech partner of TAB Bank, has been accused of providing high-rate loans through pet stores that source animals from abusive dog breeders. The bank's CEO says he didn’t know the dogs come from facilities with histories of abuse, and is talking to the Humane Society about the issue.

The data aggregator and challenger bank have formed a partnership to let customers of Green Dot’s mobile banking app use any of the 6,000 fintech apps in Plaid’s ecosystem.

Meghji only made it a year as chief innovation officer at the Federal Deposit Insurance Corp. before leaving in recent weeks. He describes the obstacles to new ideas within federal banking agencies and banking itself.

The fintech will work with the bank’s largest clients to spread their cash among U.S. branches of non-U.S. institutions, helping them obtain higher yields while diversifying counterparty risk.

Several large banks are being investigated for employees’ use of unmonitored messaging software, despite prohibitions that have been in place for years.