Technology

A class action said the company, which has suffered two breaches in the past year, also was responsible for a larger breach and “downplayed” the situation when it notified consumers.

The boss of the U.K. digital bank Monzo Bank said he’s targeting growth rather than immediate profit during a turbulent time for the fintech industry, after nearly doubling annual revenue while widening losses.

Just as advances in automobile technology have made driving safer, incorporating AI into decision-making reduces financial risks.

Crypto startups finally felt the effects of an economic storm that has been cooling digital currencies, public stocks and venture capital all year. Funding to private crypto companies in the second quarter fell to its lowest level in a year, according to data from PitchBook.

GoHenry, one of many digital banks for kids and teens in the U.S., is based in London but is broadening its European presence with the acquisition of the French fintech Pixpay.

The online consumer lender touts its AI-based underwriting models as a key strength, but analysts say larger-than-expected losses on some of its loans are contributing to funding pressures.

Rogers Communications is experiencing a widespread network failure in its wireless and internet services, causing payment systems and automated teller machines at banks to go down.

Traditional banks already have the tools they need to win back consumers’ confidence, but they need to be smart about deploying them.

By taking the manual labor out of data management and upkeep, experts can reach new clients and better serve their existing ones.

Consumers welcome more generous forgiveness policies and the chance to have past defaults erased from their record, but they need assistance connecting the dots, financial services executives say.