Investment

CEO Thomas Cangemi is pushing to modernize a bank that for decades was focused largely on multifamily lending. The company has already agreed to buy the mortgage lender Flagstar Bancorp and its partnership with Figure Technologies, a blockchain-focused fintech, has the potential to make that acquisition more productive.

The Los Angeles credit union started out by creating a self-service bot it named Royce. CEO David Tuyo discusses Royce's contributions and other ways artificial intelligence is improving efficiency.

The incident, which may have exposed customers’ account information to other customers, was caused by a technical glitch, the company wrote in a notice posted on a state attorney general's website.

The size of the financial commitments was not disclosed, but they add to a $425 million fundraising round that the data aggregator announced earlier this year.

New York Community Bancorp says it will invest in Figure Technologies, which has developed an open source distributed ledger. The bank plans to use the technology to cut costs in mortgages and payments and promote financial inclusion.

Online attacks on travel and other nonfinancial industries grew at a much faster rate in the second quarter than those on financial services companies. Yet hackers pose considerable risk to banks and credit unions, especially in payments.

CoinFund, a blockchain-focused investment firm, hired Christopher Perkins from Citigroup as managing partner and president to help bridge the gap to the traditional finance sector.

The Federal Financial Institutions Examination Council says bank accounts and information systems have become more vulnerable as mobile and other technologies have expanded. It issued guidelines on detailed steps financial institutions should take to heighten security.

Upgrade, a lending startup that counts former LendingClub executive Renaud Laplanche as a co-founder, raised $105 million in a funding round that values the company at more than $3.3 billion.

Companies like Arkose Labs say they're so confident in their ability to deter the attacks — automated attempts to break into online banking sites using stolen usernames and passwords — that they can offer banks a warranty.