Technology

Email scams in which hackers siphon small amounts of money from thousands of accounts at once are on the rise. Here's what banks are doing about it.

Executives at JPMorgan Chase, Capital One and U.S. Bancorp all spoke this week about plans to take on upstarts that offer interest-free financing on consumer purchases. The increased competition figures to result in tighter margins across the category.

The Cincinnati bank, which last month closed its purchase of the health care lender Provide, has raised its estimate for the unit’s 2021 loan volume.

Buying the point-of-sale loan provider would give Goldman Sachs access to a network of millions of consumers and thousands of merchants that the bank would have difficulty building on its own, said Stephanie Cohen, its global co-head of consumer and wealth management.

Rodney Hood, a member of the National Credit Union Administration's board, detailed plans, such as the formation of an Office of Innovation and Access, to foster collaboration between credit unions and the tech community.

Truepic, which helps companies like banks and insurers fight fraud by verifying images, raised $26 million in a funding round led by Microsoft’s M12 venture capital arm.

Canapi Ventures — created by former comptroller of the currency Gene Ludwig and banker Chip Mahan — and other venture capital firms say Peach Finance stood out because, unlike so many other startups, it's not focused on loan originations.

Eligible users may trade bitcoin and ether through the company's app and also use bitcoin when completing debit card purchases. More cryptocurrency options will be offered in coming months.

As the need for easy-yet-secure mobile banking authentication escalates and consumers become used to logging in by looking into a camera, banks are taking the technology more seriously.

Stripe, the digital payments company last valued at nearly $100 billion, is in early discussions with investment bankers about going public as early as next year, according to people with knowledge of the matter.