Bank technology

The consumer bureau asked for public feedback about payment platforms as part of a focus on the Silicon Valley giants’ financial services aspirations. But comment letters so far have been dominated by users complaining that they lost money on the big-bank-owned peer-to-peer network.

The Pennsylvania bank run by Sam Sidhu is updating its platform to support real-time payments for cryptocurrency companies and will offer embedded finance and banking-as-a-service to fintechs.

Asenso Finance and a community development financial institution, the National Asian American Coalition, have developed a loan aimed at borrowers with limited credit histories. The underwriting relies in part on alternative data and borrowers are required to take financial literacy courses.

An audit found most of the biggest banks and largest community banks fail to meet basic Americans with Disabilities Act rules for website and app readability. U.S. Bank does more than most to make digital channels accessible.

A new survey of industry executives finds substantial interest in cryptocurrencies and mergers but anxiety about competition from large technology companies.

Through its partnership with Visa, the California credit union lets members receive digital replacements for lost cards almost instantly and add digital cards to mobile wallets like Apple Pay.

Goldman Sachs, which already runs Apple Card and part of its consumer banking operation on AWS’s cloud, will now host market data there for hedge funds and other institutional clients.

Like many smaller financial institutions, Centra Credit Union in Indiana is trying to reduce its tech-maintenance burden by shifting some applications to the cloud, starting with data analytics.

Coming out of the pandemic, traditional banks will have just two years to update their business models or they risk falling behind more innovative peers and aggressive upstarts, the consulting giant warns in a new report.