Technology

The Clearing House's Real-Time Payments hasn't grown as fast as it would like, but recent small-bank adoption is providing momentum for a network that assumes the Federal Reserve won't start its own real-time service.

The Los Angeles company has established a network that is designed to help verify the identities of consumer and small-business borrowers. It says 20 lenders are participating and that it is trying to recruit more.

Stress tests have come a long way since first unveiled to shore up confidence in banks. But some critics fear that proposals to make the system more efficient would compromise its safety.

In a study of 27 global markets, the U.S. ranked near the bottom for consumer use of fintech, raising questions about why Americans appear reluctant to dive in.

Successful digital transformations these days are done not as make-or-break moon-shots but as a continuing series of smaller projects, says Tata Consultancy Services' David Jordan.

Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers.

Long gone are the days when consumers had their Social Security and driver’s license numbers pre-printed on their paper checks for faster identity verification. Consumers now understand that such precious elements of their identity need to be better protected.

Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results.

By making sure their payment processing solution is compliant, they can save themselves the hassle of declined payments and make sure they’re capitalizing on the expansive European e-commerce market, writes Ralph Dangelmaier, CEO and board member at BlueSnap.

The investment firm is launching a company called Akoya that it says will help ease the technical aspects of data sharing, as well as disputes and liability issues, for banks, fintechs and data aggregators.