Technology

The Small Business Administration must be prepared to effectively oversee any new lenders it allows in its flagship 7(a) loan guarantee program to guard against fraud and other risks, Democrats and Republicans on the Senate Small Business Committee warned.

Mitsubishi UFJ Financial Group is in talks to invest about $200 million in Akulaku, an Indonesian online lender backed by Jack Ma's Ant Group, according to people familiar with the matter.

Harris, who leads the New York State Department of Financial Services, will join the Financial Stability Oversight Council next year. She will replace Charles Cooper of Texas as the representative of state bank supervisors.

The deal is the banking titan's latest investment in fintech.

Regulators are chastising banks for compliance lapses among their fintech partners. But some say the software companies that connect them share some responsibility.

WaFd Bank is using conversational artificial intelligence to make the contact center and online chat experience smoother for both customers and agents.

A special-purpose acquisition company is merging with a bank as its affiliated startup still lacks its own national bank charter.

In a tight job market, banks are exploring new ways to find the employees they need.

Markus Braun makes his first public appearance in court on Thursday, more than two years after his highflying digital-payment company Wirecard collapsed under the weight of fraud allegations.

The bank will apply the company's AI first to its risk models, an HR avatar and a metaverse presence.