Technology

As part of its formal spinoff from consumer lender Affirm, B2B e-commerce platform Resolve is launching automated payments that offer extended net terms for product buyers.

There are many motivations for implementing faster payments, such as paying gig economy workers after each job, sending funds overseas, or improving insurance payouts. In all of these examples, the demand comes from the payments recipient.

Cathy Bessant, Bank of America’s chief operations and technology officer, offers her takeaways from the first meeting of the Council on the Responsible Use of Artificial Intelligence. She also shares some challenges banks are facing with cyberattacks and data encryption.

Credit unions have measures in place to assist members hit by fraud but many smaller institutions are challenged when it comes to an effective response.

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.