Bank technology

Allan Rayson of Encore Bank has been named American Banker's Digital Banker of the Year for leading a tech transformation and working with fintech partners that help the Arkansas bank serve commercial customers.

Young community banks are using a range of options for digital banking platforms.

Citigroup plans to hire more than 4,000 tech staff to help move its institutional clients online in the wake of the pandemic.

For all of the regulators’ progress over the years, many are still relying on an internal technology framework that was built for 1992, not 2022.

Industry leaders will discuss the most pressing issues of the day at this year's conference starting June 13.

Scott Peters, the first person to serve in this role at the Alabama bank, is tasked with modernizing the institution’s core and improving the quality of customer service.

We’re all entitled to our own opinion at work, but what if it starts impacting improvements and growth? 

Agility Bank, which opens its doors Monday, says it is the first minority depository institution to be women-owned and women-led by design. It plans to serve small-business owners in a digital-first manner.

Truliant Federal Credit Union is one financial institution eager to expand online notarization. For customers, it's more about convenience than social distancing.

The Birmingham, Alabama, bank is moving its head of consumer banking, Scott Peters, into a new role as chief transformation officer to build new technology infrastructure.

Consumer complaints surged in March, shortly after the North Carolina bank completed a core technology conversion to bring together BB&T and SunTrust. Truist is still dealing with the gripes, which involve delayed access to cash, difficulties using debit cards and excruciatingly long wait times.

Deserve, a credit card technology startup, said it secured a $250 million credit facility from banks led by Goldman Sachs Group. 

The Minneapolis company believes a new partnership with LiquidX will grow its niche supply-chain financing business by 'multiples.' The goal is to help more suppliers get paid early in a system that's been pinched throughout the pandemic.

Nearly three in four banks said in a recent survey that finding people with the right skills is a hurdle as they try to comply with decade-old rules regarding their financial models.

Former Federal Reserve vice chair for supervision Randal Quarles delivered his strongest rebuke yet to the idea that the U.S. needs a central bank digital currency to avoid falling behind other countries, calling the argument one "you expect from a 17-year-old, but not from a central bank."

New guidelines proposed by the Federal Reserve last month do not go far enough to define who can get an account and how, according to a joint comment letter from several banking trade associations. The process has become contentious as more fintechs seek access to the reserve system.

Health care, home improvement, cannabis, gaming and college students are among the areas banks are targeting with the help of innovative tools.

The Federal Reserve has hired five executives from the stablecoin issuer Circle and at least one employee of Ripple since 2019 as part of its technology-focused recruiting efforts. It plans to do more hiring in the years ahead to aid its work on faster payments and central bank digital currencies.

Apple is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter.

Banks must comply quickly with fast-moving sanctions against the Kremlin and have to spot questionable Russian companies and wealthy individuals. At the same time, some need to deal with settlement risk of trades that involve rubles. Sophisticated data sharing and analysis are making it easier to do the job.