Technology

Launch Credit Union claims it reduced fraud by 97% after adopting a real-time solution in 2020.

While some American lenders have started to exit the region, the overall impact on their operations has been moderate, the central bank said in its semiannual Supervision and Regulation Report.

The technology giant is partnering with a fintech firm to deploy $25 million of deposits at minority-owned banks, community development financial institutions and other mission-focused lenders. It’s part of a broader effort by the iPhone maker to combat systemic racism.

Shortly after the reveal of Stripe Financial Connections, the CEO of its longtime partner Plaid took to Twitter to accuse the company of exploiting their relationship to build the new service. At stake is the growing market for digital transactions.

Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

A new product called Financial Connections links businesses directly to customers' banks, giving the payment technology vendor a feature that makes it a direct competitor to data-fueled fintechs.

Financial institutions need to begin sharing profiles of fraudsters posing as legitimate customers. The technology to do it securely is already available.

Long Game, which Truist acquired for an undisclosed sum, allows consumers to set savings goals and earn extra cash by playing casino-style lottery games.

Genesis Financial will use Nova Credit’s bank account data analysis to approve credit to applicants with little or no credit bureau files.

Cryptocurrency firms, armed with cash and in need of regulatory experience, are poaching U.K. cybercrime cops with offers of double or triple pay.