Merchant

The custody bank was very profitable, and it raised its cost-saving forecast for year-end, but its nearly 3% increase in third-quarter noninterest expenses prompted an investor backlash.

As VR and AR mature, new possibilities open up for customer interaction in a virtual space.

Strong net interest income and other factors made up for a drop in investment banking and other noninterest income at the Atlanta bank, which reported double-digit earnings growth.

PayPal reports it’s adding users to Venmo’s new initiatives quickly, pushing the company’s wish to monetize Venmo to what its CEO calls a “tipping point."

Crowdsourced cybersecurity is making inroads into the world of big banks, even though there is a risk bad actors will exploit the opportunity.

Square’s growth strategy has always been to aim higher with products and services that benefit larger businesses than the ones it originally targeted with its mobile card reader. Its newest product diverges from that path.

Banks currently enjoy the pole position, but until they revamp and modernize their lending processes to better compete with the speed and convenience of nontraditional lenders, they will continue to lose market share, writes Trevor Dryer, CEO and co-founder of Mirador.

The program will focus on increasing lending to small and medium enterprises in Guatemala, Burkina Faso and Kenya.

Commercial and industrial lending rose 8% in the third quarter at the Cleveland bank, but other factors drove its double-digit gain in profits as overall loan growth was modest.

Intent on rapidly capturing the value and benefits of these new services, companies too often take a path of least resistance to cloud assessment and operational planning, writes Justin Yunag, chief digital officer, financial services for Atos North America Operations.