Technology

Fintechs were almost five times more likely than traditional lenders to be involved with suspicious loans issued through the U.S. government’s Paycheck Protection Program, according to a new study.

New York Community Bancorp says it will invest in Figure Technologies, which has developed an open source distributed ledger. The bank plans to use the technology to cut costs in mortgages and payments and promote financial inclusion.

Walmart is looking to hire a cryptocurrency expert to develop a blockchain strategy, joining a growing number of major corporations exploring the viability of digital currencies such as bitcoin.

The card network is bringing Verizon into its innovation lab to turn more phones into payment acceptance devices and use the growing number of consumer gadgets and digital assistants to better verify consumer identities.

Nu Pagamentos, the Brazilian fintech backed by Warren Buffett’s Berkshire Hathaway, is planning an initial public offering of more than $2 billion on the Nasdaq for the end of this year, according to people familiar with the matter.

Online attacks on travel and other nonfinancial industries grew at a much faster rate in the second quarter than those on financial services companies. Yet hackers pose considerable risk to banks and credit unions, especially in payments.

The fintech startup Aspiration is in talks to go public through a merger with a blank-check firm in a transaction that’s slated to value the combined entity at more than $2 billion, according to people with knowledge of the matter.

CoinFund, a blockchain-focused investment firm, hired Christopher Perkins from Citigroup as managing partner and president to help bridge the gap to the traditional finance sector.

The bank’s decision to offer home improvement loans directly will not have a material impact on profits at the Atlanta-based fintech, according to GreenSky.

Card networks are working with the Metropolitan Transportation Authority to build on touchless fare collection for marketing and commerce.