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Due to growing consumer expectations for 24/7 digital access and real time decisions, some organizations such as financial institutions and merchants have reduced the more stringent manual application review processes in order to open accounts quickly, according to Michael Lynch, chief strategy officer at InAuth.

In recent years, new machine learning algorithms and big data have reduced fraud losses to an extent — however, their impact has been relatively limited, in part because the industry has been reluctant to use them. But the use of such technology is soon likely to become far more widespread in the U.K., and across the EU.

Delinquencies, which are on the rise across financial services, clouded an otherwise solid quarter for Discover Financial Services.

Readers weigh in on the Consumer Financial Protection Bureau's payday rule, consider the gender wage gap in banking, debate restrictions to membership at the Federal Home Loan banks and more.

The Pennsylvania company said it expects the digital bank to become profitable by the end of this year.

An improved net interest margin helped offset a slight decrease in fee income at the Wisconsin company.

The Lake Mary, Fla., credit union has agreed to buy Fidelity Bank of Florida, which the SBA designated as a certified lender in 2017.

Jason Oxman is leaving his CEO position at the Electronic Transactions Association to become the president and CEO of the Information Technology Industry Council, a position he will assume in late February.

The Financial Services Committee also announced the head of a newly created subcommittee on diversity and inclusion.

With SBA lending at a standstill, many small businesses can't access the capital they need to create and retain jobs, Stephen Steinour says.