Investment

When the coronavirus pandemic forced teachers and students to move classroom learning online this year, school districts and educators suddenly faced a raft of challenges around handling new expenses for tools needed for cyber education.

Betsy Cohen, formerly of The Bancorp Bank, and venture capitalist Ryan Gilbert have created a vehicle to raise hundreds of millions of dollars, purchase a technology company and expand it.

Visa is readying its platform for major disruptions by adding artificial intelligence to its neural network so legitimate card transactions will be processed normally in case of a system outage.

The OCC’s efforts to bring the technology into the financial mainstream could help people in underserved communities execute payments more securely.

The bank will outsource future development of Quorum to the software firm.

Socure, which applies machine learning to spot identity fraud, has raised $35 million in a new funding round from venture capital funds and banks.

Checkout-free retail is still not ready to move out of tiny spaces, though Amazon’s trying to accelerate progress through a trio of initiatives that have come to light over the past few weeks.

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

When customers contact Wells Fargo, its artificial intelligence system goes to work; what American Express is getting with it purchase of Kabbage; Fannie, Freddie refi fee will wipe out millions in mortgage profits; and more from this week's most-read stories.

A CBDC has the potential to be a real game changer for the payment industry if one condition is met: central bank digital currency has to be built as an open and shared infrastructure for the private sector to easily build on top of it, says ConsenSys' Matthieu Saint Olive.