Fintech

Here are seven startups that received multimillion-dollar venture capital investments in recent weeks to accelerate the development of banking products and services.

Erika Marquez discovered an anomaly that was causing Sumitomo Mitsui Banking Corp. to treat some loans as though they required significantly more regulatory capital than they actually did.

In the wake of Zelle, Venmo and Apple Cash getting more active users and potential revenue, Square is relying on its Square Cash App and Cash Card as key drivers for its own growth.

The Springfield, Vt.-based institution is the latest CU to cross a neighboring border, as a number of other institutions have looked to expand their reach

It is comfortable with the deal for MidSouth despite the seller's lingering credit issues, given a shared history and the opportunity to add low-cost deposits.

To fuel growth, Apple's mobile wallet needs to go beyond its core use cases of NFC and in-app payments. Apple Pay's latest project leans more heavily on NFC to do work typically handled by apps.

E-money provider Prepaid Financial Services has partnered with Garmin International for its digital prepaid cards to operate in the U.K. on compatible Garmin Pay smartwatches.

Apple Card's advantages are mostly available elsewhere, but Apple's marketing prowess will make it a formidable competitor, according to Jonathan Ebinger, a general partner at Blue Run Ventures.

Payments platform BizPayO is launching an online cash flow tool it says will help small and medium-size business owners tackle what amounts to a $3 trillion late-payment problem annually that undermines operations.

Innovation is part of Emily Girsch's daily routine. That's why the chief financial officer at Lincoln Savings Bank in Cedar Falls, Iowa, spends a lot of time thinking about the need to modernize bank regulations for the digital age.