Technology

PayPal, Square and other companies are building multipurpose apps that can access traditional bank accounts — or make them obsolete.

PayPal, Square and other companies are building multipurpose apps that can access traditional bank accounts — or make them obsolete.

Railsbank and Plaid have formed a strategic partnership enabling any company in the U.K. to directly embed open banking-style payments into digital flows.

Many younger people are looking for financing and are averse to traditional credit cards, says Four's Chaim Lever.

PayPal saw account openings and payment volumes soar as the world shifted away from cash. And as economies reopen, PayPal must determine whether consumers will continue their aggressive use of digital payments — or return to their old habits.

The fintech reached an agreement with California regulators to disclose clearly that it’s not a bank and that its services are provided through bank partnerships.

The Federal Reserve said its regional banks should consider whether nontraditional financial companies meet the requirements of certain federal statutes and present “undue” risk to the financial system before granting access.

The digital-only bank has adopted machine learning to process loans faster, more accurately and with better fraud detection than in the past.

The digital transformation of payments has reached its next phase — with banks and fintechs leading the way. Avoiding the one-size-fits-all approach to deliver the experience customers want is key.

Migrating to the cloud exposes the pivotal role of identity in the smooth operation of applications, and how it creates unique challenges, says Strata Identity's Eric Olden.