Bank technology

Santander InnoVentures has invested in a fintech startup that uses consumers' digital footprint data, including social media, to confirm identity.

Contrary to doom-and-gloom attitudes of some about banks' ability to compete for millennials' business, the industry will build on its history of innovation to meet the technology needs of future customers.

Financial innovation, including distributed ledger technology and marketplace lending, has emerged as a new source of risk to the U.S. financial system, according to a report issued Tuesday by the Financial Stability Oversight Council.

U.S. Bank in Minneapolis has hired retail veteran Beau Gray to head its omnichannel experience team.

Most would agree the way digital identity is managed is suboptimal. But how identity should be managed, and who should manage it, are shaping up to be hotly debated questions.

For the first time, the Fed this year is requiring banks subject to stress tests to show how they would cope with the possibility of rates dipping into negative territory. Analysts say they will be keeping close watch on custody banks, asset-sensitive regionals and banks with little overseas exposure.

The British giant is making fintech startups its allies as it builds a virtual bank tailored to the needs "of the people at the bottom of the pyramid."

The bank is rolling out a new digital advice offering that pairs robo technology with financial advisers, most of whom have the CFP designation.

As sexy as decentralized systems and automation are these days, human involvement is still necessary in many areas.

Private-equity firm GTCR is set to acquire Optimal Blue, a Texas-based mortgage tech firm, and it is planning more deals that would offer the industry ways to strip out further costs.

Robard Williams, senior vice president with Moody's, discusses how the explosion of fintech companies – 4,000 by his firm's count – will help banks adapt to a digital world.

By teaming up, community banks are hoping they'll be able to get some leverage in hammering out tech agreements with megavendors such as FIS, Fiserv and Jack Henry.

The fintech lab backed by JPMorgan Chase and the Center for Financial Services Innovation has revealed nine winners of a recent startup competition focused on helping consumers plan for financial shocks.

As JPMorgan Chase gears up for the launch of the merchant-friendly Chase Pay wallet, it's taking the opportunity to freshen its approach to P-to-P mobile payments.

Even though innovative underwriting criteria can help more people get credit, the risks and potential harms of mining social media data to make loan decisions might just be too great.

Check image specialist CheckAlt has acquired receivables transaction management provider Klik Technologies, a deal CheckAlt hopes will boost its profile as the financial services and corporate payments markets turn toward mobile-based technology to process checks.

The answer may be no, according to federal regulators. Their new guidelines on mobile security include other surprises, too, such as specific requirements tied to geolocation, security tests and cross-site scripting.

The Bank of Canada said its running experiments with the nation's lenders on interbank payment systems using distributed ledgers, to better understand the technology.

The prospect of banks and credit unions meeting small-dollar loan demand is at risk under the Consumer Financial Protection Bureau's restrictive proposal.

As banks try to acquire new customers via digital channels, they should add content marketing strategies into their lineups.