Banking

UBS is piloting a program with Alexa, Amazon's chatbot. Clients won't be able to ask Alexa about their portfolios yet, but they can ask questions about the economy.

Valley National Bancorp in Wayne, N.J., had stronger quarterly profit that reflected improved revenue.

The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Apple Pay's major adoption; Walmart's big transfer expansion; vendors' mobile loyalty push; a breach in Denmark.

The latest tale of wrongdoing tied to the financial services industry is the outcome of a smart customer-centered strategy that went awry. Now, bank customers will ultimately suffer the most.

UMB Financial in Kansas City, Mo., reported higher quarterly profit as it continues to makes progress on a multi-year effort to slash expenses.

CEO Tim Sloan said senior executives made a series of mistakes in response to the phony account scandal, including placing too much of the blame on branch employees.

WASHINGTON – The Treasury Department’s Financial Crimes Enforcement Network issued a reminder to banks that their obligations to report suspicious transactions also extend to certain cybersecurity attacks.

The $13 billion-asset company said in a press release Tuesday that its third-quarter earnings rose 9.5% from a year earlier to $31 million, or 46 cents a share.

Costs associated with a customer refund reserve in the United Kingdom contributed to a decline in Capital One Financial's third-quarter profit.

Credit losses rose substantially at Discover Financial Services during the third quarter, but the Riverwoods, Ill.-based card issuer still managed to report bigger profits.

The Federal Reserve is asking the payments industry for input on securing faster payments processing.

Flagstar Bancorp's quarterly profit increased after a decline in the value of a 2012 legal settlement liability tied to its mortgage lending practices.

Consumer Financial Protection Bureau Director Richard Cordray has revived an ongoing dispute between banks and fintech firms over screen scraping, a method certain companies use to obtain access to consumer bank records.

The online lender is entering the car-loan market at a time when some banks are scaling back and regulators are sounding the alarm about deteriorating underwriting standards.

The piling on at Wells Fargo has reached an unprecedented level, even for a bank. Fifteen investigations are underway into Wells' phony account openings. Experts are quantifying the damage to Wells' reputation and what the bank can do going forward to repair it.

"I'm both," could be the answer a mobile customer of USAA and perhaps other financial institutions gets in the not-too-distant future from a virtual assistant powered by artificial intelligence, key nuggets of customer-specific data and other technology.

Heartland Financial USA in Dubuque, Iowa, has named Jack Lloyd president of its residential mortgage business.

The Consumer Financial Protection Bureau will require underperforming servicers to document the technology and process changes they're making to implement the agency's recently released servicing regulations.

The information you need to start your day, including top headlines from PaymentsSource and around the Web. today: PayPal and Facebook deepen their collaboration; virtual assistants take off; U.K. fades as a fintech power.

Neither bank regulators nor banks' risk managers can afford to wait until rating agencies downgrade Deutsche before understanding the level of exposure they have to the German bank giant.