Bank technology

The deal is intended to better help credit unions and other financial institutions improve digital lending capabilities

A survey conducted by the Conference of State Bank Supervisors found that concerns about operating conditions have led a large percentage of small banks to steer clear of acquisitions and new tech investments.

The California company has acquired Mid-Central Federal Savings Bank, which is converting to a national bank.

Devon Bryan, who held similar jobs at KPMG and the Federal Reserve System, succeeds Brian DiPietro, who had been information security chief since 2016.

Many banks buy modeling tools from vendors to help detect new areas of risk, fraud and profitability without realizing their existing systems are capable of doing the same.

The coronavirus pandemic has exposed weaknesses even at well-established fintechs. They could become more resilient by partnering with traditional financial institutions.

The coronavirus pandemic has exposed weaknesses even at well-established fintechs. They could become more resilient by partnering with traditional financial institutions.

Switching core banking systems has long been done face to face, but the coronavirus has driven the process into the digital arena. The change could be permanent.