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President-elect Donald Trump’s choice for Commerce secretary is a billionaire investor who swooped in to prop up troubled banks after the financial meltdown. Some members of the banking world, including regulators, may be glad he was picked for Commerce chief instead of Treasury secretary.

The bank consortium R3 CEV has released its Corda platform as open source to encourage innovation and interoperability in the industry's development of blockchain technology.

Ant Financial’s attempt to add a social-network function to China’s biggest payments platform has backfired.

Big data was supposed to unleash a lot of powerful insights for banks, but many financial institutions still haven’t found a way to harness their own data because the amount of available information is so vast.

Post-crisis regulations were not only costly but may have undermined executive accountability by turning CEOs into compliance managers instead of drivers of business decisions.

Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Apple Pay's unhappy holiday; U.K. cash protest; hackers demand Bitcoin ransom; India's cash crisis hurts Euronet Worldwide's ATM earnings.

Goldman Sachs, one of the biggest technology spenders in the industry, admired for being tech savvy as well as extremely private, has publicly acknowledged its use of Infosys's Finacle software to run Marcus, the online lending subsidiary it launched two months ago.

Receiving Wide Coverage ...Wall Street ties: Steven Mnuchin, a former Goldman Sachs executive, is expected to be named Treasury secretary by President-elect Donald Trump. "Mr. Mnuchin's Wall Street pedigree presents a contrast with the populist themes Mr. Trump struck in his campaign, railing against big banks and vowing to close tax loopholes that benefit hedge funds," the Wall Street Journal commented. "Mr. Trump also repeatedly attacked his rivals in the primary and general elections for their Wall Street ties, especially those connected to Goldman Sachs." Mnuchin, who also made millions as a Hollywood movie producer, was Trump's campaign finance chairman. Wall Street Journal, Financial Times, New York Times, Washington Post, American Banker

Consumers aren't just sharing the charming personal moments of their lives on social media — they're producing data that Israeli startup Feelter contends can revolutionize online shopping.

With access to financial transaction data under threat by hurdles imposed by certain financial institutions, it should be up to consumers to decide how their data is used to improve their financial well-being,