Technology

Teampay is using the card network's technology, which was first designed for the Apple Card, to offer virtual accounts for corporate spending.

By 2023, the Federal Reserve expects to launch a service that would allow businesses and consumers to complete payments in real time. But a digital currency it's now studying could have similar benefits — while potentially removing the need for bank intermediaries.

The company's Drop-In Components allow developers to verify important data without extensive coding.

The data analytics provider has deployed cloud hosting to scour international payments for signs of fraud and money laundering.

KMD Partners, which makes high-interest rate loans through its CreditNinja brand, has agreed to acquire the $11.7 million-asset Liberty Bank. The purchase is likely to draw scrutiny, but the companies argue that it will help borrowers with lower credit scores qualify for less expensive loans.

Banks have watched with alarm as customers' deposits have flowed into cryptocurrency wallets. They are now working with their software vendors to build the infrastructure that's needed to offer digital currency services of their own.

More than 97% of venture backing goes go white-owned startups. Firms like Mendoza Ventures, Chingona Ventures and MaC Venture Capital are stepping in to support underserved entrepreneurs.

The Boston trust bank has set up a division called State Street Digital, led by Nadine Chakar, that will help customers invest in cryptocurrencies. It will also develop blockchain and smart contract technology and the ability to tokenize assets.

The social network now lets people send links and QR codes to request funds through the Messenger app, but users may have little incentive to switch — or to trust Facebook with more of their data.

With the Colonial Pipeline attack still in the news, bank CEOs testifying at a recent hearing cited cyber risk as the biggest threat facing the industry. But members of Congress did not share those concerns, and instead were more focused on criticizing banks about overdraft fees and their level of investment in minority communities.