Bank technology

Banks such as FNBO and Ally Financial have taken to the social media channel to appeal to younger customers.

The Cincinnati bank used to rely on surveys to gauge how satisfied customers were after speaking to a contact center agent. Technology has made the task easier and more comprehensive, and spotlighted common issues that triggered a high volume of calls.

Financial institutions such as Encore Bank, Central Pacific Bank, Climate First Bank and Lead Bank are in various stages of exploring or accelerating relationships with fintechs, even as market conditions make the Baas business model less attractive.

A July 8 outage affected emergency services, financial payment systems, government offices and businesses — some of which were forced to do cash-only sales. 

Vikram Pandit, who led Citi for five years, and Ash Gupta, who helped lead American Express for 41 years, have collaborated on a risk decisioning program meant to help make digital lending more efficient and cost-effective at banks of all sizes.

Brooke Ybarra, who joined the organization in September 2021, will oversee the division that explores new technologies and the policy questions that arise.

Just as advances in automobile technology have made driving safer, incorporating AI into decision-making reduces financial risks.

The technology billionaire Romesh Wadhwani’s artificial intelligence software company agreed to buy BAE Systems' financial crime detection business, NetReveal.

Kristiane Koontz at Zions and Neal Shah at Regions explained how they are coping with the many challenges of rebuilding the technology foundations of their banks at American Banker's Digital Banking Conference.

A new and larger finance industry is emerging — one in which traditional institutions aren’t nearly as dominant as they used to be.

Allan Rayson, the chief innovation officer and chief technology officer of Encore Bank, gravitates toward nimble, up-and-coming fintechs that help Encore's commercial clients open accounts and obtain loans digitally.

In global news this week, Walmart and Payoneer team up for U.K. e-commerce, metaverse banking advances in Italy, Stripe expands its global bank transfer footprint, and more.

The bank is providing dedicated space within its headquarters for clients to collaborate with product designers to develop new ideas.

The bank’s current focus is on its Calgary innovation hub, where it’s looking to reach 300 employees by the end of next year.

Citigroup and Bank of America have teamed up with five other banks to form Octaura Holdings, an electronic trading platform for syndicated loans and collateralized loan obligations.

The mobile technologist has brought many user experience upgrades to the Arkansas bank. That has earned him a spot in American Banker's Digital Banker of the Year coverage this year.

Companies such as Biz2Credit, Episode Six and VizyPay look for people from varied backgrounds and pitch their flexibility (or, sometimes, strong office culture) in bids to find great employees.

The founder and CEO is being recognized during American Banker's Digital Banker of the Year program for establishing one of the true banking-as-a-service platforms at the New York-based Piermont.