Bank technology

Metronome, the brainchild of Jeff Garzik, may appeal to banks as the world's first "cross-chain" cryptocurrency.

Cort O’Haver, the successor to Ray Davis at Umpqua, has a plan to preserve human relationships in mobile and online banking.

Though they won’t name names, fintech leaders claim tier-one U.S. banks string them along, fail to communicate, don’t pay anything and, worst of all, out-and-out steal intellectual property.

The Midwest bank said that digital usage rose 400% after a makeover of online and mobile banking platforms that was meant to make them more customer-friendly and more competitive.

Both banks and fintech are satisfied for now with the CFPB's nonbinding principles on data-sharing. But the statement may lay the groundwork for future regulation.

Execs from Bank of America, Wells Fargo, BBVA, Ally Bank and others outlined their AI strategies, progress to date and lessons learned at BankAI this week.

JPMorgan Chase has made several investments in financial technology startups, but its plan to buy WePay will give its 4 million small-business clients a much more direct way to adopt digital payments.

As many as a dozen financial institutions are deploying IBM’s Watson to search for signs of employee misconduct so they can avoid a Wells Fargo-size scandal. But the legal and technical limits of its use are major issues.

Credit Suisse, State Street and several other banks are experimenting with a blockchain technology that could allow them to make corporate deposits more affordable to hold on their books.

Banks such as Citigroup, Regions and TD have decided they need to offer mobile customers truly customized experiences. They are experimenting with different ways of doing so that come across as helpful without being intrusive.

Bankers need to set aside their post-crisis aversion to risk, recapture some of the magic they once practiced as innovators, fear fintechs less, and worry about the Googles and Amazons more, says Peter Memon, a bank IT veteran turned global consultant.

Ripple announced several new customers Tuesday. The startup says its software, designed to compete with Swift, allows banks and others to send cross-border payments more quickly, transparently and cheaply.

The bank is upgrading its ATM network to work with Apple Pay, Android Pay and Samsung Pay, allowing easier cash withdrawals and other cardless ATM transactions.

It's a question many banks are already confronting head-on as they implement new technologies designed to make compliance easier.

Banks that find true innovation hard to accomplish can take heart — it’s no picnic for startups either. To hear both sides share their challenges is an argument for collaboration.

Tim Welsh has spent his first two months on the job thinking about how to make U.S. Bank as central to consumers’ lives as Amazon, develop new personal financial management services, and expand into new cities.

Yes, the credit bureau goofed badly on data security, and it proved to be worse at crisis management. But other companies have been just as sloppy with cyber defenses, and business and government leaders should have tackled these problems long before now.

Arthur Levitt says seemingly daily scandals highlight the lack of oversight and corporate governance shortcomings of financial technology firms, but two marketplace lending executives responded that more mature companies have just as many problems.

The identity theft threat created by the Equifax hack and the growth of online lending have given software makers a platform to pitch products that rely on selfies, scans of driver’s licenses and other nontraditional ID methods.

Separate apps for banking and PFM are too much for most customers to handle, so the Canadian bank is adding automated advice and savings to mobile banking — and it’s relying on artificial intelligence and predictive analytics to make it all work.