Bank technology

After withdrawing two previous bids, the e-commerce company submitted an application to the FDIC outlining a significantly simpler business model for a proposed industrial loan company.

Coastal Community in Washington is an investor in and the first client of Synctera, a software company that aims to help community banks manage their fintech relationships, including regulatory obligations.

The company is best known for its reciprocal deposit program, but it’s finding new ways to serve banks without competing for their customers.

The deal is intended to better help credit unions and other financial institutions improve digital lending capabilities

A survey conducted by the Conference of State Bank Supervisors found that concerns about operating conditions have led a large percentage of small banks to steer clear of acquisitions and new tech investments.

The California company has acquired Mid-Central Federal Savings Bank, which is converting to a national bank.

Devon Bryan, who held similar jobs at KPMG and the Federal Reserve System, succeeds Brian DiPietro, who had been information security chief since 2016.

Many banks buy modeling tools from vendors to help detect new areas of risk, fraud and profitability without realizing their existing systems are capable of doing the same.

The coronavirus pandemic has exposed weaknesses even at well-established fintechs. They could become more resilient by partnering with traditional financial institutions.

The coronavirus pandemic has exposed weaknesses even at well-established fintechs. They could become more resilient by partnering with traditional financial institutions.

Switching core banking systems has long been done face to face, but the coronavirus has driven the process into the digital arena. The change could be permanent.

Now perhaps more than ever, banks and their proxies need to show tact when communicating with past-due borrowers.

The pandemic has propelled digital banking to the forefront faster than expected and in ways that will have a lasting impact for credit unions.

The agency’s advance notice of proposed rulemaking, which would require banks to evolve with technology, shows foresight that policymakers too often lack.

The acting comptroller of the currency signaled that his agency is planning to resume on-site supervision despite health risks tied to the pandemic. But some bankers and former examiners urged caution, saying remote monitoring has its advantages.