Technology

Patriot National Bancorp was exploring a digital pivot, and American Challenger Development Corp. had been seeking a bank charter in its quest to become open an all-digital bank. They decided it was quicker to join forces.

The company’s software analyzes banks’ loan programs and rejections for signs of discrimination.

Mainstream lenders have long been reluctant to make short-term consumer loans because the costs involved make them expensive for borrowers. Upstart says its technology will enable partner banks to offer loans at annual percentage rates below 36%.

The way merchants handle payments is becoming just as important as the actual business they're in, says Jeremy Balkin, global head of innovation and corporate development at J.P. Morgan Payments.

Several rail and bus lines are working with Interac, the country's debit network, and its bank partners to allow the new fare payment option in addition to credit cards. They see the collaboration as a way to expand ridership among tourists and low-income residents.

Criminals are finding weaknesses in the complex network of applications on banks' sites and exploiting them to launch attacks.

The data aggregator is recruiting partners such as Railsbank, Silicon Valley Bank and Marqeta for a project designed to make certain digital transactions easier to complete.

The company, whose software is used by four of the top five U.S. banks, says it will use the money to improve its identity verification and fraud detection technology.

After vowing for months to crack down on ransomware, the Biden administration and allied countries unleashed a string of actions Monday against one of the most prolific hacking groups and also issued sanctions against cryptocurrency entities that allegedly enable such attacks.

The bank is partnering with Anthemis to match investors with female entrepreneurs, who according to Findexable research attract just 1.5% of investment in the sector.