Bank technology

For banks eyeing blockchain technology, 2016 has been the year of tests, trials and proofs of concept. By this time next year, however, some 15% of them could be running blockchain solutions in the wild, according to research by IBM.

Swift announced Tuesday additional efforts to beef up security on its network, following highly publicized hacks of member banks earlier this year.

WASHINGTON -- The Chamber of Digital Commerce has opened a new outpost in the nation’s capital. But instead of looking for a staid law office, the bitcoin advocacy group formed a partnership with local incubator 1776 to launch the DC Blockchain Center.

Nine global banks are testing blockchain and smart contract technologies to see if they can improve the syndicated loan market.

Lenders are starting to bring artificial intelligence into their lending processes. Some wonder whether the machines can make rational, unbiased choices.

Aquiline Capital Partners, a New York-based private equity firm focused on investing in financial services and financial technology companies, announced Tuesday the creation of a new holding company that will acquire businesses focused on developing software used to manage and collect payments from groups and organizations.

The move is an example of how banks are looking to fintech entrepreneurs to bring innovation in, and it illustrates the emphasis and importance banks are putting on their mobile channels.

A bipartisan duo of lawmakers announced Monday they are forming the Congressional Blockchain Caucus in an effort to educate policymakers on digital currency and related issues.

Up until now, no fintech company has succeeded on a mass scale to offer solutions beyond its core product. But disruptors are trying to go in that direction, and banks should watch their efforts closely.

A lot of what Cathy Bessant knows about directing a team can be traced back to her days as patrol leader of her Girl Scouts troop.