Investment

The rulemaking is expected to draw enormous interest from both banks and third-party fintech providers.

National banks just got the OCC's go-ahead this summer to hold and transfer digital assets like bitcoin for customers, but the Paris-based bank has already vetted the technology needed to do the job.

Mexican payments startup Klar has raised $15 million in a Series A round in an effort to challenge traditional banks by expanding access to debit cards and credit lines.

Industry groups have launched new programs that are expected to carry over into 2021, while others are raising new calls for Congress to tackle data security.

Visa on Monday made an investment in Global Processing Services, which powers the payment rails for several challenger banks and fintechs. It's similar to a January investment Mastercard made in Marqeta, an open API card issuing and processing platform.

Even before the pandemic, retailers were pushing terminal makers to adjust to new trends on the fly. Technology cycles have become even shorter now — if there even are development cycles anymore.

Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.

The credit union regulator has held back in allowing the use of derivatives but has released a proposal that would remove red tape for some larger institutions.

Executives and technology analysts offered a host of concerns that are likely to dog credit unions well into the new year.

The control of crypto exchanges will resemble that of regular financial companies in Europe and the U.S., says Extante's Anatoliy Knyazev.