Technology

As banks continue to invest heavily in developing mobile and web-based services for personal and business accounts, investments, money transfers, micro loans and peer-to-peer payments to make the customer experience as seamless as possible, they cannot afford to let compliance efforts lag, writes Sam Abadir, vice president of industry solutions for Lockpath.

The Eastern Caribbean Central Bank plans to launch a pilot in 2020 of a blockchain-based digital version of the Eastern Caribbean dollar. This marks the first time that a central bank will have issued digital legal tender using the blockchain.

The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter.

As threats from nimble fintechs and global e-commerce companies abound, Visa’s turning to open development tools to place itself in the middle of the innovation, rather than making a solitary counterplay itself.

Price Chopper Employees Federal Credit Union is the second institution to merge into the Latham, N.Y.-based Sunmark in recent months.

In the month since FIS announced its $43 billion Worldpay deal, the company has disclosed little about its timeline for integrating the two large organizations.

JCPenney ended support for Apple Pay in its stores and also removed the mobile payment option from its app, a surprising reversal for a brand that offered Apple Pay in 2015, within a year of its rollout. There are multiple factors in play here.

PSD2 and other moves push a higher level of authentication, and are a welcome development for biometrics, according to Lina Andolf-Orup, a senior director at Fingerprints.

Banks say easing rules on people with some criminal records will diversify the applicant pool; deal with Synchrony may be near.

The SEC and other regulators are taking a closer look at ICOs and mergers involving cryptocurrencies and distributed ledgers, which requires careful diligence for payment companies and dealmakers, according to Will Turner, a partner in the blockchain and cryptocurrency practice at Steptoe & Johnson.