Banking

The Canadian bank becomes the largest institution to implement the fintech firm’s Bank Operating System technology.

One purpose of the Senate bill was for small banks to rein in skyrocketing costs, but some bankers question whether the changes will save them money, and adapting to the reforms may even increase spending.

Lenda, launched in 2014, currently makes mortgages start to finish in two weeks. But it's aiming to make it a process that can be finished on a borrower's lunch break.

Some investors fear BBVA is taking a big risk by getting into unsecured personal lending long after online lenders have established themselves, but bank officials argue the bank’s cost of funds and in-depth knowledge of its customers will help it to outdo the competition.

Credit unions in Michigan saw significant gains in Q4 2017, as CUs there ended the year with significant boosts to membership and lending.

The hiring of Mark Begor comes as the credit bureau has been shuffling its top managers since disclosing last year that hackers were able to access the personal data of 145.5 million U.S. consumers.

The fintech is partnering with WebBank to offer a normal-rate, unsecured credit card for people with no credit or a thin file. Petal will consider how much money consumers make, the bills they pay on a monthly basis, and trends in volatility in their income and expenses.

Traditional financial institutions would gain from adopting the innovative, consumer-focused mindset Amazon promotes. Hiring executives away from the e-commerce giant could help.

Senator is concerned about the San Francisco Fed chief’s track record; the gaps at three big banks are among the largest.

The information you need to start your day, from PaymentsSource and around the Web. Today: Uber applies for an e-money license; Shyp shuts down; Apple Watch getting a redesign; Massachusetts halts some ICOs.

Live Oak Bancshares took two years developing a loan for cemetery operators, a group that faces challenges with financing for property improvements.

Even as many venture capitalists retreat from the online lending industry, Upstart Network is hoping to find investors still willing to bet on the business.

The company has agreed to acquire Bank of Rio Vista to expand its operations in central California.

The field is crowded, but that’s not stopping well-established banks from trying to reach new markets by creating separately branded digital units.

Deutsche Bank Chairman Paul Achleitner is said to have held talks with possible replacements for CEO John Cryan. The bank's turnaround efforts have been disappointing in many eyes, but there is open debate on whether it's Cryan or Achleitner who deserves most of the blame.

A startup called Spring Labs has launched a blockchain network with the goal of getting lenders and data providers to share data to help verify customers' identity.

Offering simple financial guidance is a great way for community banks to connect with younger consumers.

The team that founded marketplace lender Avant Inc. raised about $15 million to start a firm that will use blockchain technology and digital tokens to motivate companies to share data about customer identities and credit worthiness.

Operations executives said in a recent survey that they have to modernize their back offices before they can meet their No. 1 goal: improving the customer experience.

There are ways to provide a better consumer experience, even when institutions are looking to settle up on unpaid accounts.