Investment

Mastercard and blockchain software provider R3 plan to test a new blockchain-enabled cross-border payments service to connect global faster payments rails supported by a Mastercard-operated clearing and settlement network.

Changes in consumer behavior patterns will force banks to reassess the information they use to attract customers.

The company still intends to shut down its data centers next year even as the recent hacking that exposed the data of some 100 million people raised questions about its aggressive embrace of cloud computing.

Numerated, a vendor of loan prospecting, marketing and underwriting software that was developed within Eastern Bank, now has $32 million.

Speaking during NAFCU's Congressional Caucus, a leader from the U.S. Department of Treasury said credit unions can help the agency improve how consumers are notified in the event of a data breach.

It's not on consumers to fix this problem, says NuData Security's Justin Fox, who argues organizations must get more cooperative and proactive to improve authentication.

Fintechs providing installment loans are attracting significant funding from investors who see opportunities in developed economies for consumer financing products, which are already well established in emerging markets.

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The bank helped raise $25 million for the fintech because of its potential to bring banks and nonbanks together in a virtual marketplace.

Goldman Sachs Group Inc. is making another bet on a Latin American financial-technology startup, providing a secured credit facility of as much as $100 million to Mexico’s Konfio Ltd.