Banking

Power Financial Credit Union's deal for TransCapital Bank marks the fourth time this year a bank has agreed to be sold to a credit union in the Sunshine State.

The new cloud-based solution is intended to help financial institutions make quicker credit decisions by integrating consumers’ histories with advanced software.

Assemblywoman Monique Limon is in the “early stages” of exploring how to create a state-level Consumer Financial Protection Bureau as part of a broader push for more consumer protection for state residents.

The system is designed to help banks deliver more personalized financial advice and is meant as a challenge to traditional bank technology vendors.

As banks push customers to digital channels, they are losing opportunities to help and connect with consumers, according to Rilla Delorier, an executive vice president at the Oregon bank.

Speakers at the Credit Union Summit during the 2019 Retail Banking conference offered a host of best practices for embracing new technologies while maintaining high levels of member service.

Mainstream firms are joining the push to let cannabis firms use banks; the companies say they can help banks make lending decisions quicker.

The information you need to start your day, from PaymentsSource and around the Web. Today: Square adds invoicing in the U.K.; Wayfair plans brick and mortar store; Tandem's developing PSD2-specific products; McDonald's acquires AI for drive through lanes.

Some lenders, especially in markets like California, are preparing in case of a technology-industry stumble that hurts business, real estate and other loan segments. Whether those fears are well founded is a matter of debate.

Regional and community banks are working to finance the economic development districts created by the new law. But they have lots of questions about how the program works — and thoughts on how to improve it.

The deal between Performance Trust and Banks Street Partners is the second combination this month of investment banks that cater to commercial banks.

The watchdog’s report — requested by Sen. Elizabeth Warren, D-Mass., and Rep. Elijah Cummings, D-Md. — called for civil money penalty authority and better supervision to guard consumer data.

Varo Money might become the first challenger bank to get a national bank charter. CEO and co-founder Colin Walsh explains why he wants Varo to become a bank.

Artificial intelligence lets banks predict employee misconduct; banks will get more flexibility on how they count rate swaps.

The information you need to start your day, from PaymentsSource and around the Web. Today: Domino's plans in-car order and pay; Arizona college adopts robot serving; Monzo leaves U.K. check image scheme; IBM's blockchain picks up more adoption.

Although slow to catch up, issuing banks are well placed within the payments ecosystem to capitalize on short-term credit provision — in fact, they can be the biggest winners, argues Mehmet Sezgin, CEO and founder of myGini.

Alex Sanchez acknowledges that the U.S. has a lot of banks and many failed in the crisis, but he says a healthy economy needs a fresh supply of community lenders to nurture entrepreneurs.

On Dec. 31, 2018. Dollars in thousands.

On Dec. 31, 2018. Dollars in thousands.

Institutions that fail to embrace AI, machine learning and data analytics could quickly find themselves losing ground to competitors.