Technology News from American Banker

The payment company's CEO says it's developing and shipping products faster despite cutting nearly half of its staff. It's a strategy he says can be replicated at other businesses.

Expanding fintech charters and workforces shrinking across the Fed, OCC, and FDIC require financial services leaders to assume the role of technical auditor to protect against systemic contagion.

The Trump administration is currently reviewing a soon-to-be-released proposal on consumer financial data rights.

The online lender said its national bank will become the "primary originator," displacing the banks that are lenders of record. Loan buyers keep their role.

Having a trust bank will allow the stablecoin company to offer custody products and to have flexibility in where and how it issues its stablecoins.

It has been one year since the payments fintech launched Genius, its refreshed point-of-sale and payments platform, as a lynchpin in the company's attempted turnaround. Now, the company is looking to add more conversational AI features.

Models, data and workflow are all important, but proprietary workflows create a competitive edge.

The fintech's network lets banks and fintechs share results of KYC and KYB checks, known bad-actor lists and other customer information. A key use case: helping sponsor banks monitor their fintech partners' compliance with banking regulations.

The latest in a new breed of bank competitors is Zaria, a servicer of traditional and digital asset-backed loans for institutions, which has requested a national trust bank charter from the OCC.

Neither company would say how many patents the deal covers, whether either paid the other or whether USAA pressed its claims first.

The social media app has partnered with Cross River to manage tasks such as compliance and deposit insurance. But fintech experts say more work is needed before X can threaten traditional banks.

Big banks, including San Francisco-based Wells Fargo, are eager to defend themselves from the competitive threat posed by stablecoins, analysts say.

Looking at the competitive structure of the core-provider business illustrates why challengers have such a hard time winning business from the big three.

Consumers increasingly trust third-party AI tools nearly as much as their own bank, according to recent survey data. Industry experts lay out what banks need to do now to keep their edge.

The card network is buying behavioral fraud detection already running at three of the four largest U.S. banks, including Wells Fargo.

In a webinar last week, Humanity Labs CEO Andrei Pop discussed "the transformative power" he said Mariner's new AI workforce will bring to the firm.

The frontier AI model provider confessed its agents broke out of their sandboxes three times to attack other companies' systems. The incidents are a warning for banks to remain vigilant while embracing the new technology.

Fintech founder Randy Fernando launched his latest startup, an AI-focused software provider for banks called Maximum, with $30 million in seed funding.

The neobank is the latest fintech to file a de novo trust bank charter application ahead of the GENIUS Act formally taking effect.

The CLARITY bill is still on Congress' to-do list before their summer break, but some of the more unusual provisions are causing a hold-up.