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Urban FT has acquired Digiliti, a troubled developer of mobile banking app technology, and will integrate its services into its white-label banking platform.

As organizations look to AP to take on more strategic planning, budgeting, and cash management activities, they have to use automation to get rid of the manual, repetitive, non-value-added tasks they’re doing now, writes Brent Meyers, vice president of national sales for Nvoicepay.

Reps. Elijah Cummings and Jimmy Gomez, both Democrats, questioned why B of A would stop offering accounts that are popular with low-income consumers when it stands to reap huge financial benefits from recently passed tax cuts.

Bank will add 400 branches and boost mortgage lending; the company attempts first acquisition since it nearly failed during the financial crisis.

Readers react to the Federal Housing Finance Agency considering changing its credit scoring policy, slam the possibility of enforcing mandatory penalties for data breaches at credit reporting agencies, weigh the possible nomination of a credit union regulator to the CFPB, and more.

Customers saw transactions recorded multiple times and experienced drained accounts and long hold times. It’s a warning to all financial institutions as they head further into mobile-only banking — glitches are more visible and painful and need to be addressed faster than ever.

For all of the noise in the payments industry around transitioning to real-time and same-day digital payments — and in the mainstream media around the bitcoin craze — paper checks still persist as the preferred means of disbursement for the majority of business-to-business transactions.

Regional and community banks will offer low-cost or no-cost financial products through Bank On, which has already reached agreements with Regions Bank, Wells Fargo and SunTrust.

SMBs are choosing virtual cards as their preferred form of electronic payments because they solve many of their payment challenges, while also helping them avoid the costs associated with custom software solutions designed for larger businesses, writes Blair Jeffery, COO of Noventis.

Financial technology companies are reinventing every aspect of business finance, starting with payments. Banks have long promised to automate supplier payments for their customers, but have fallen far short, writes Brent Meyers, vice president of national sales for Nvoicepay.