Investment

Tink, a Swedish fintech that developed an open banking platform used by 2,500 European banks, has secured $100 million in funding from various investors.

Ludwig, a former regulator and CEO of Promontory Financial, and Mahan, the head of Live Oak Bancshares, say they want to back tech startups that support community banks. The ABA and ICBA are among the fund's investors.

Citi, Goldman chiefs say they won’t be pressured to stop financing companies based on carbon footprint; Vodafone bolts from Facebook’s digital currency project.

IBM called for rules aimed at eliminating bias in artificial intelligence to ease concerns that the technology relies on data that bakes in past discriminatory practices and could harm women, minorities, the disabled, older Americans and others.

Liability for missteps by vendors, jurisdictional headaches tied to locations of servers and legacy technology are other potential impediments.

Flutterwave, an Africa-focused financial-technology company, said it raised $35 million and will work in partnership with WorldPay and Visa as it seeks to expand across Africa.

Modernizing the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, CEO Michael Corbat said.

U.K. digital payments provider and challenger bank Revolut is closing soon on its latest fundraising round with investors, including Technology Crossover Ventures, providing a $7 billion to $8 billion valuation for the startup.

Werner Loots, the bank’s first head of transformation, is helping the bank redesign how work is done, then streamlining and digitizing as much as possible.

Chris Maher, CEO of OceanFirst Financial, shares how employees’ roles have already changed and his bank’s efforts to help them navigate AI.