Technology

Payments platform BizPayO is launching an online cash flow tool it says will help small and medium-size business owners tackle what amounts to a $3 trillion late-payment problem annually that undermines operations.

Innovation is part of Emily Girsch's daily routine. That's why the chief financial officer at Lincoln Savings Bank in Cedar Falls, Iowa, spends a lot of time thinking about the need to modernize bank regulations for the digital age.

Apple is relying on transportation systems across the globe to drive Apple Pay's usage.

The venture capital firm New Enterprise Associates has led a $200 million funding round in Divvy, a business payments and expense management platform provider.

China's massive card network UnionPay has signed a merchant acquiring agreement with Worldline to bring acceptance of UnionPay cards into 40,000 merchant locations across northwest Europe.

The company, which has invested $3 million in fintech in recent years, said the value of the portfolio is nearing $14 million.

While a majority of business payments are still made by checks, faster payments and increased cash flows will pressure a move to digital options, contends UMB's Brian Hutchin.

Failure to recognize the importance of artificial intelligence, mobile banking and other evolving technology would be a serious misstep.

CEO Solomon says the bank has not yet begun discussions with DOJ about its role in the scandal; the $1 billion buyback would be its first in 20 years.

The lumbering pace of product development is one of the typical drags on large bank technology firms, while nimble startups can seemingly launch new offerings overnight.