Bank technology

WASHINGTON — The current financial regulatory structure is ill-suited for innovation, but a legislative effort to fix that may still be a long way off, according to top House Republican lawmakers.

WASHINGTON — The Federal Deposit Insurance Corp. is urging banks to perform due diligence and identify potential risks before conducting business with marketplace lenders.

SunTrust Banks in Atlanta said Tuesday that it has created a new line of business specializing in the payments and technology industry.

Cross-border payments, even small ones, take days to clear, cost 5% to 10% of the payment amount, and can be baffling to the consumer. Zenbanx, TransferWise and Ripple and other startups are trying to change this.

The largest institutions moved to the top of J.D. Power's rankings, thanks largely to the popularity of their digital offerings and high scores among young adults.

Bank of America has nearly three dozen patents pending related to blockchains. More banks are expected to seek patents as the technology associated with cryptocurrencies creeps closer to widespread use.

The best customer prospects are specific individuals, so don't fall into the trap laid by surveys and articles that recommend a grand pitch to Generation Y as a marketing strategy.

Univest believes its subscription-based pricing model may have solved a persistent fee conundrum – charging small-business customers for various services without irking them.

Bank of America is preparing to submit 20 blockchain-related patents any day now to the U.S. Patent and Trademark Office, CNBC reported this week, citing a company spokesperson.

PricewaterhouseCoopers has partnered with the blockchain technology company Blockstream to bring distributed-ledger and smart-contract technology to its clients.