Technology

Companies that give employees early access to earned pay don't want to be lumped in with payday lenders, so they are putting a new spin on their pitch: It's a tool to lure and retain valuable workers.

Even though health care payment providers have more digital payment options than ever, there still is a tough hurdle to overcome: Patients don't always trust the medical provider or insurance company to provide accurate bills.

As businesses change strategy and staff deployments quickly, their payment needs and flows will change rapidly, says BHMI's Jack Baldwin.

FirstBank, the initial customer of the startup Finxact, sought a modern core system that jibes with fast payments and other new technologies.

Afterpay, whose online installment loans are seeing strong growth in the U.S. apparel sector, has partnered with Oakland, Calif.-based processor Marqeta to develop additional payment products and services.

Fintechs like LendingClub and Varo Money illustrate how the traditional financial system is changing. Banks that don’t rapidly evolve with technology will be obsolete.

The best community banks layer human-facing services with new technology to beat the heavyweights in their market.

Banks make emergency preparations as HSBC deals with confirmed case; the changes simplify regulations without posing additional systemic risks, the Fed says.

In spite of MGM’s quickly notifying hotel guests impacted by the breach in accordance with applicable state laws, it’s a clear concern that many of the contact details were still valid, particularly the phone numbers, says Shared Assessments' Tom Garrabba.

Compliance, risk management and staffing will likely come under added scrutiny as regulators lay out a framework for future fintech-bank mergers.