Bank technology

WASHINGTON — The head of the American Bankers Association on Tuesday defended financial institutions' partnerships with fintech firms but argued that banks top nonbank startups in serving as "trusted custodians" for their customers' funds.

Attempting to impose the fundamental laws of a particular lending universe on another will lead to an eventual collapse of a particular firm or industry segment.

BancAlliance, a consortium of more than 200 community banks, is partnering with the digital wealth management firm Personal Capital.

Santander Consumer Holdings in Dallas on Tuesday appointed William Rainer chairman, and it announced that Blythe Masters has resigned to advise Banco Santander — its Spanish parent company — on the blockchain.

Offering a new product or considering a merger may boost returns, but the Office of the Comptroller of the Currency says changes in strategy can be risky.

Swift has tapped British defense contractor BAE Systems and Dutch security firm Fox-IT to support an information sharing and threat intelligence program for member banks.

Banks are experimenting with apps and mobile features that are available to everyone as they search for new ways to connect with potential customers.

Banks frequently blame "the rules" in shunning partnerships with fintech startups. However, compliance can be a positive force, not something that inhibits growth.

The Consumer Financial Protection Bureau recently dressed down the mortgage industry for failing to invest in technology. Here are 10 tech ideas from our colleagues at fellow SourceMedia publication National Mortgage News that could improve efficiency, margins and the industry's image among growing demographics. Some might sound farfetched, but so do most great inventions at first. Dream big.

Sometime on Saturday, the bitcoin network will pass a milestone in its development. Here's why some bankers are paying attention.