Bank technology

Vendors keep merging, and new ones keep forming. For banks, the change brings access to more options, but shorter relationships.

Some startups are eschewing San Francisco and New York to set up shop in the middle of America. And for good reason.

The cryptocurrency-focused merchant bank Galaxy Digital, led by a former Goldman Sachs partner, will start trading on a Toronto exchange this week. Its journey is a cautionary tale in regulatory risk.

Banks that have decided to use Hyperledger Fabric now have a place to find apps that run on it — apps that someone else has tested. The store, LedgerConnect, is also meant to give vendors a way to distribute their wares to banks.

A community bank in Virginia thought the $2.4 million hackers stole from its customers would be fully covered by its insurance policy, but its carrier begged to differ. Their highly technical legal fight is a cautionary tale for all bankers who assume they are sufficiently covered.

Small banks are being warned to slow down mobile tool development and check vendor arrangements, as researchers repeatedly find vulnerabilities that can be exploited by cybercriminals.

The person-to-person network also saw $28 billion in payments in the quarter and it added more bank members.

The Vatican's recent criticism of credit default swaps is reigniting a debate about the use of such financial products.

The bank sees its global reach as an advantage in supporting evolving business customer needs.

Several firms are touting tools to help financial institutions bank legal marijuana-related businesses, an industry expected to yield $10 billion in retail sales this year.