Banking

The lender will begin an ad campaign in mid-April with the tag line "Building Better Every Day," company employees were told Tuesday.

In a further illustration of weakness in the auto sector, Ally Financial said Tuesday that its 2017 profits will likely be dinged by rising delinquencies on subprime auto loans, as well as by falling used-car prices.

The rapid advancement of social media platforms into the payments and finance markets, as well as millennials' devotion to apps like Venmo, were major factors driving a 47% increase in the U.S. digital person-to-person payments market last year.

In his new role at the nation's largest bank, Andrew Kresse will manage the business that serves companies with up to $20 million in annual revenue.

Retail-focused Provident Bank has added an on/off switch that allows customers to suspend their debit cards. A few big banks rolled out similar features last year.

Shopify is making Klarna’s instant-financing offering available to merchants using Shopify’s e-commerce platform in nine international markets.

The Federal Deposit Insurance Corp. said the Deposit Insurance Fund is projected to reach 1.35% of insured deposits next year, well ahead of a 2020 deadline.

Strong rebounds in consumer activity produce strongest overall reading in nearly a year. Consumer loan application activity accelerates in all regions except the West.

Profit and loss accounting is the least customer-centric process in the entire banking system. Overhauling it would improve banks’ culture and approach to digital banking.

The scandal involving Wells Fargo that surfaced last year shows the U.S. banking industry still has work to do on improving its culture, Federal Reserve Bank of New York President William Dudley said.

The underbanked rely on mobile access more than online or in-person contact. Therefore, the U.S. must follow developing countries’ leads and let consumers sign up for mobile-only accounts.

The German lender says that the Justice Department closed a criminal inquiry into its currency-trading activities without action, but regulators are said to be in the final stages of their own reviews of that conduct to determine if any fines are in order.

Jim Rosenthal previously served as chief operating officer at the Wall Street investment bank. He joins the board of an online lender that has recorded losses in five straight quarters.

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Square adopts voice tech; Yes Bank adds a bot in India; HCE diversifies bus payments; Linked2pay diversifies its ISO pitch.

The grandson of the oil titan and the former head of Chase Manhattan passes away at 101; Wells reports biggest drop in new account openings since the scandal.

The German bank said the new space will help its 7,000 bankers in New York connect with startups.

Credit unions celebrate expanded branch networks, employee volunteer efforts, sizable donations and more.

Experian and Finicity have released a product that aims to speed up decisions on mortgage applications, using financial data aggregation technology.

The former chairman of Chase Manhattan Bank, who died Monday, displayed “great graciousness, even in periods of stress."

David Cotney, former Massachusetts banking commissioner, will guide compliance for the New Jersey bank, a critical partner for many fintech startups.