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A quarter of banks say they’ve experienced a mobile security incident in the past year. Many still lack basic security protections on employees’ devices, according to a newly published study.
February 23
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Relying on data such as income, location and spending habits, bank apps are delivering customized financial advice and tips relevant to the consumer, such as details about local events.
February 23
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Some Wells Fargo customers on social media Thursday afternoon expressed frustration with not being able to log in to accounts digitally. The San Francisco bank responded in a tweet acknowledging the problem.
February 22
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The bank will allow its customers to apply for car financing online and receive a decision within minutes.
February 22
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Artificial intelligence is expected to bring financial services to millions, yet it could also make unethical decisions that unfairly deny credit and widen the divide between haves and have-nots, says Nicolas Economou of the nonprofit Future Society.
February 22
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Scarlett Sieber will be based in the bank’s Labs division, working on forging partnerships with fintech firms.
February 22
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As they cement major partnerships, launch overseas operations and court banks and other institutional investors, top cryptocurrency exchanges now see regulatory approval as a competitive advantage.
February 21
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The internet giant, SunTrust, Ally and other backers have invested $16 million in a new funding round for Greenlight Financial Technology, further blurring the lines between banks and tech companies.
February 21
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Scores of customers have been unable to use digital channels to access accounts for more than a week, and many have taken to social media to voice their displeasure with TD’s response to the outage. The lesson for other banks: Test new platforms, and test them again, before making them live.
February 20
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Bank information technology departments are tasked with making sure their institutions modernize and remain competitive. But their mission brings a host of technical and cost challenges that often stand in the way of innovation.
February 19
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Banks scrapped a plan to create a shared data bunker for customer data in favor of a backup buddy system. Some argue a move to blockchain should be next.
February 16
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Their partnership aims to make it easier for community banks and other institutional investors to vet loans that they could buy from online lenders.
February 16
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Banco Santander joined existing investors JPMorgan and USAA as well as others in raising $25 million in secondary-round financing for Roostify, which seeks to build a paperless mortgage process.
February 15
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U.S. fintechs attracted $5.8 billion in the fourth quarter as institutions sought an AI edge.
February 15
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The investment continues a trend of banks focusing on commercial payments technology.
February 14
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Discount Bank in Tel Aviv has made several discoveries, including that customers ask more in-depth questions of its bank chatbot than expected.
February 14
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Webster Bank’s partnership with the national broker-dealer LPL is a reversal of its initial opposition to robo-advisers. It is the latest regional bank to enter a market first claimed by the biggest banks.
February 13
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The bank joins a small group of companies that believe short-term forecasts will ultimately help customers build healthier financial lives.
February 13
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The FS-ISAC hopes banks and data aggregators will adopt the updated standard for sharing customer account data.
February 13
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In what could be seen as a mea culpa for CEO Jamie Dimon's disparagement of bitcoin five months ago, the Wall Street megabank has released a big and relatively bullish report on cryptocurrencies.
February 12
