Technology

A handful of banks keep trying to make the customer-Alexa connection happen; banks are more worried about payments firms than other types of fintechs; how financial institutions are coping with COVID-19; and more from this week’s most-read stories.

Wells Fargo hopes to anchor its debit card at the top of customers’ digital wallets with a promotion offering users a $5 credit.

The challenge has been aligning the data-sharing ecosystem in a way that simplifies access and enhances consumer control while ensuring a high level of security, says Finicity's Steve Smith.

The Reserve Bank of India has temporarily halted operations at the struggling Yes Bank, leaving fintechs without a place to process payments.

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.