Bank technology

The Illinois commercial bank gained a new role when it realized it shared the same digital transformation challenges as its customers.

It usually costs small businesses a lot of time and money to calculate their own value. TD Bank is offering them a free digital tool that performs the task quickly.

Disruptive upstarts. Glitches galore. Open banking adoption. Financial institutions are being challenged on multiple fronts — here’s a look at how they’re coping.

Zach Gipson, chief innovation officer at USAA, believes in putting new technology, like chatbots, out there and learning from customers' reactions.

Startups such as BREAUX Capital are trying to reach consumers historically underserved and underrepresented in financial services.

Nyca Partners is now an investor in enterprise blockchain, but in 2014 it had doubts about the technology.

In focus testing for its digital-only app, Finn, Chase learned users wanted a standalone brand that still offered some traditional features, such as paper checks.

The graduates of this year's Fintech Innovation Lab New York, chosen by executives at 43 banks, are focusing on improving artificial intelligence, solving IT issues and providing a better customer experience.

The company said the aim of a redesign and additional automation is to make its compliance software easier for bankers to use.

Denver-based P2Binvestor plans to use the new funds to expand its bank partnership program.

The quest for fast payments is advancing on the consumer side, but most banks are said to be undecided about a host of issues tied to speeding up transactions between businesses.

Banks are more established organizations that cannot afford to take the same shortcuts and risks as startups do in fintech development, executives said.

Jonathan Walker of the Center for the New Middle Class and Mark Schwanhausser of Javelin discuss ideas for helping women facing financial difficulties.

Savvy fintechs are providing automated advice, dashboards and financial monitoring for families of people over 50.

Big banks and wealth managers are unwilling to sacrifice fee income and make other changes to catch up with their customers' digital demands, fintech leaders said.

The online lender wants to provide instant payments and securitizations alongside instant loans, according to CEO Anthony Noto.

Paycheck information gleaned from bank accounts is emerging as an alternative to verifying a mortgage applicant's income and employment with a 4506-T tax transcript request to the IRS.

In an investor-backed power play, the robo tech firm wants banks to turn to it instead of traditional core software providers as they upgrade to digital-banking-friendly technology.

The Minneapolis bank is pitching the automated investment advice product, a joint venture with a BlackRock unit, to a wide range of age groups, not just younger consumers.

Three years ago the core provider Finastra sought the help of Malauzai to meet customers' cutting-edge technology demands. This week, it bought the software maker.