Bank technology

The blockchain startup continues to pack its board with mainstream finance experts.

Key efforts for banks include developing AI applications, adding fintech allies and strengthening cyberdefenses.

A Russian cybersecurity software company reported last week that a new group of cybercriminals had stolen $10 million from 16 community banks. But there's no hard evidence that actually happened.

With Wall Street on board, investors look to spend coins on real estate or through bitcoin debit cards.

Some firms are investing in technology to help insurance clients shift to paperless payment processing.

Banks are looking at using the powerful number-crunching technology to make risk calculations, analyze portfolios and protect their systems against sophisticated cyberattacks.

Covault has begun offering a digital identification and virtual safe deposit box service to banks and others. Similar efforts have failed before, but its backers say mobile apps and the cloud have made the service more practical.

Assemble allows Mastercard partners or issuers to provide checking, budgeting and payment features, as well as additional money management.

Can preferential loan terms encourage environmentally friendly practices among corporate borrowers? Barclays, BNP Paribas, and Standard Chartered are working with fintechs — and even Prince Charles — to develop a blockchain to answer that question.

The cryptocurrency proved so popular it triggered two temporary trading halts on CBOE's Global Markets exchange.