Technology

A special-purpose acquisition company is merging with a bank as its affiliated startup still lacks its own national bank charter.

In a tight job market, banks are exploring new ways to find the employees they need.

Markus Braun makes his first public appearance in court on Thursday, more than two years after his highflying digital-payment company Wirecard collapsed under the weight of fraud allegations.

The bank will apply the company's AI first to its risk models, an HR avatar and a metaverse presence.

Houston-based Save, which lets consumers save and invest from the same account, closed on its most recent round of funding last month, led by BNP Paribas and joined by Webster Bank.

Plaid said it cut 260 staffers Wednesday after changing macroeconomic conditions forced it to rein in costs.

It's only been two months since the Biden administration posted its blueprint for an AI Bill of Rights, but government agencies are starting to apply it in areas of financial services where discrimination is a concern, according to speakers at a Brookings Institution event.

The portfolio purchase, which follows the sale of MUFG Union Bank to U.S. Bancorp, represents about 32% of LendingClub's own personal loan portfolio. It should help boost the online lender's growth while using some of its excess capital.

The many advantages banks can obtain from working with financial technology companies are undeniable. But so are the dangers.

Banking companies are increasingly using application programming interfaces that transfer customer information to third-party money-management apps popular with consumers. But fraudsters are exploiting vulnerabilities in the technology to steal information.