Checking

Credit unions intensified their focus on gathering deposits in 2019 but many institutions are still looking for cheaper core funding.

If a checking account doesn’t come with checks anymore, can it still be called a checking account? It’s a valid question that the financial services industry should be asking itself.

Deluxe has spent many years working to diversify beyond paper checks, which are in an inevitable decline. But that diversity led to confusion.

The shift from person-to-person deposits to digital options – including mobile, ATMs and RDC – has created new challenges to fraud prevention efforts.

The investment bank's new CashPlus Account comes with a mobile banking app, a debit card, online bill payment and other banklike features.

After a decline, fraud has recently spiked. But there are measures companies can take to stay ahead of the crooks, says Nvoicepay's Alyssa Callahan.

CEO William Demchak said the bank has witnessed "a lot of mischief" among customers who open checking accounts to collect bonuses and then never use the accounts again.

Fiserv has sold a lockbox processing unit to Deluxe, the second such acquisition for Deluxe in as many months.

The challenger bank might use the proceeds from its latest funding round to buy other fintechs that would allow it to add more products and services, its CEO said.

Citizens Bank's Bruce Van Saun is our Banker of the Year; shake-up continues at Wells Fargo with poaching of Santander's CEO; the Navy commander behind the credit union banks love to hate; and more from this week's most-read stories.