Banking

The digital bank released a treasury management system for its business users powered by a robo-adviser.

The bank's first institutional fundraising round brought its total funding to $222 million.

Chair Travis Hill wants to shift resolution planning away from lengthy bank-generated narratives and toward rapid access to critical operational data during failures.

Citi, DTCC and others are quietly using Hyperledger Besu as a neutral, enterprise-grade blockchain for tokenized deposits and collateral. Daniela Barbosa, general manager of decentralized technologies at the Linux Foundation, explains why.

Capital Community Bank is preparing to launch its fintech-focused rebrand by the end of this month.

OceanFirst Financial and Hanover Bancorp are among the banks paring back their exposure to the rent-regulated multifamily loan market in New York City. Mayor Zohran Mamdani has appointed six of the nine members of a board that's scheduled to vote later this month on a rent freeze.

Cathy Bessant, who was Bank of America's vice chair of global strategy when she retired, is joining Truist's board of directors and will sit on the company's risk committee. Bessant was American Banker's Most Powerful Woman in Banking for three consecutive years.

Brian Moynihan spoke of the challenges of developing and maintaining Erica, the bank's main internal AI model, with precision.

A private credit fund got suckered into the Aspiration Partners fraud; is that an 'it could have happened to anybody,' or a sign that the industry has low standards?

The corporate finance fintech now has a $44 billion valuation and is building out an AI token spend management offering for its 7,000-plus enterprise customers.

Research from the New York Fed suggests that the legalization of sports betting has important implications for consumer lenders.

Republican Sen. Joni Ernst is calling for more scrutiny of 10 lenders that were ejected from a Department of Agriculture program. Several of the lenders are pushing back, questioning officials' characterizations of their lending results and announcing appeal plans.

Applications from Enova International and Opportunity Financial for national bank charters present a danger to consumers. The Federal Reserve and Office of the Comptroller of the Currency should block them.

The bank tech provider sold off its U.S. mid-market banking business, including a core used by hundreds of U.S. banks, to a branch of Constellation Software.

The domestic focus of most instant settlement rails is evolving toward cross-border, creating an opportunity for the bank to approach corporate clients.

The megabank promoted Margo Pilic, CEO Jane Fraser's chief of staff since 2021, to a new job that combines bank strategy with investor communications. The promotion was one of several leadership changes announced by the bank.

Bank leaders and industry observers are starting to worry about the risk of automation complacency, where glazed-eyed workers fail to see mistakes made by AI models that are right most of the time.