Technology

The Curql Fund, an investor in upstart technology companies, is trying to help credit unions build relationships with cutting-edge firms.

China is allowing Jack Ma’s Ant Group Co. to start operations at its consumer finance company, the first sign of progress after a regulatory crackdown torpedoed the fintech giant’s record listing.

From China to the Bahamas, central banks are rushing to create digital currencies that could be used for everything from attending the Olympics to helping the unbanked. Here are some notable initiatives.

Nearly 90% of central banks are considering or deploying digital currencies to speed transactions and reach underserved communities. But the larger the economy, the more difficult these projects are to implement.

Scams in which a real person’s information is used to create fictitious businesses or individuals have led to $6 billion in credit losses. The Federal Reserve has developed a standard definition for synthetic identity fraud so lenders can distinguish it from traditional identity theft.

The EMV specifications technology body has revised its requirements to ensure a consistent payment experience for cards, smartphones and wearables.

Allied Payment Network is linking to the digital banking platform of Tyfone for community banks and small businesses.

Users of the Goldman Sachs-issued card found themselves unable to make payments or view account details.

The central bank said the proposed measure governing transactions on FedNow — a real-time service expected to be available in 2023 — would be similar to the framework for the current Fedwire Funds Service.

EU regulation permits digital connections between banks and fintechs, creating ways for pension providers and brokerages to streamline payment acceptance and cut costs by replacing manual processes with automated ones.