Tanaya Macheel

NCR, which is primarily known for its ATMs and point of sale hardware, is taking more steps into digital banking.

Citi will join Early Warning's clearXchange, giving the bank-operated digital transfer network a boost as it takes on apps like PayPal’s Venmo.

Citi will join Early Warning's clearXchange, giving the bank-operated digital transfer network a boost as it takes on apps like PayPal’s Venmo.

Though the IBM survey did not include any credit unions, the industry has been monitoring this trend for some time and will bet keeping a close watch on the banks' experience with this technology.

For banks eyeing blockchain technology, 2016 has been the year of tests, trials and proofs of concept. By this time next year, however, some 15% of them could be running blockchain solutions in the wild, according to research by IBM.

JPMorgan Chase's Thasunda Duckett has been named chief executive officer of consumer banking as part of one of the bank's periodic management reshufflings.

Nine global banks are testing blockchain and smart contract technologies to see if they can improve the syndicated loan market.

Earthport has signed a Memorandum of Understanding with SECB Swiss Euro Clearing Bank to provide foreign payments services.

Financial institutions must act on the "urgent and fundamental" need to transform the correspondent banking system, the consulting firm said in an annual report on global payments.

Global payments activity should grow at an average annual rate of 5% between now and 2020, to $2.1 trillion, according to the latest McKinsey report. But the continuing success of this trend will depend on how well banks adapt to the digital transformation and capitalize on the opportunities it offers for revenue growth.