Fintech

A task force convened by the Federal Reserve released its evaluations last week of 16 proposals to build a faster U.S. payment system. What follows is a brief look at some of the plans that received high marks.

First Financial in Ohio is buying MainSource in Indiana — with a twist. MainSource's leader will become CEO.

The new Explore Visa card is seen as a "bridge" to more traditional banking services, said Regions' head of retail products and payments.

ABN Amro is enabling its Tikkie social P-to-P app to send tuition payment requests to students, a dramatic expansion from the transaction types the bank designed the app for.

Ant Financial’s Alipay has formed a partnership with a large Malaysian bank, enabling the bank to advance its own mobile payments services using Alipay’s platform.

American Express is giving its card customers an easy way to transact in cryptocurrency.

The New Jersey bank is looking to raise offensive capital just months after its deal to be sold to Investors Bancorp was terminated. Investors was tripped up by regulatory concerns tied to Bank Secrecy Act and anti-money-laundering compliance.

Visa’s efforts to expand its mobile payments service mVisa in developing nations reached a milestone this month in Nigeria, the first country where banks are enabling cross-border payments with the QR code-based mVisa technology.

Delmar will buy Liberty Bell Bank in New Jersey, which had survived a debilitating six-year battle for control with a former CEO. Liberty Bell also suffered from corporate theft and a check-kiting scandal.

In early fall, the central bank is expected to announce its next steps regarding how to improve the aging U.S. payments system.