Even as quantum computers still can't break encryption, the banking industry has been preparing for more than a year to start switching to post-quantum cryptography.

The job reductions come as the card network focuses on emerging markets, artificial intelligence and other nascent technology over transaction volume.

U.S. Eagle Federal Credit Union said it plans to acquire Southwest Capital Bank in a transaction slated to close next year. It would help the buyer expand its cannabis banking operation.

Federal Reserve Gov. Christopher Waller says the central bank is tracking research on financial stability risks related to payments, as well as blockchain and crypto developments.

Lorch started as the marketing director at First Internet Bank, the first online-only bank, at its launch. Few Americans had internet access so it wasn't a sure bet the bank would survive. She's still there, now as the president.

The planned Bay State deal comes two months after the Minneapolis-based Thrivent said it plans to merge a credit union it controls into a new industrial bank.