Bank technology

Many card issuers are well on their way to the migration to chip cards or have a plan to do so. But many merchants are still completely unaware of the shift in fraud liability taking effect Thursday.

Avant, an online lending platform that focuses on borrowers with marred credit, announced an agreement Wednesday to raise $325 million in equity financing from blue-chip investors.

BB&T has rolled out a digital banking platform that lets customers customize which features appear once they log in. It saves the bank having to decide what to show and what to hide on devices with different screen sizes.

Bankers need to show they are in control of relationships with outside vendors, must be ready to respond to M&A-related protests and should be as concerned about economic growth as interest rates, according to the St. Louis Fed's supervisory chief.

Credible, a comparison shopping site for private student loans, announced that it has raised $10 million from a group of investors that includes some big names in marketplace lending.

Cloud Lending Solutions, a technology provider to marketplace lenders and other finance companies, announced that it has raised $8 million in venture funding.

Thirteen banks have joined an alliance to develop commercial applications of distributed ledger technology in the financial industry.

Some critics argue that it's a bad idea to introduce chip cards without PIN requirements. But this debate is a distraction from the payments industry's robust and multifaceted efforts to fight cybercrime.

Nacha's same-day ACH payments are unlikely to improve business-to-business payments without additional tweaks. Other payment rails can also help put a solid infrastructure in place.

Bankers, investors and analysts stop short of declaring a bubble. But the fintech startup and investor fields are getting crowded, and there's bound to be a culling of the herd.