Commercial banking

The online lender reached profitability ahead of schedule with a boost in loan volumes and increased its outlook for the year despite macroeconomic uncertainty.

Industry veteran Chris Ward has been tapped to lead the Canadian bank's new U.S. small-business banking department. "It's absolutely a growth opportunity," he said.

Federal Reserve Board member Lisa Cook said artificial intelligence will be transformative, but cautioned government officials not to assume that gain in AI technology will offset inflationary pressure elsewhere arising in the economy.

Global Payments executives touted the company's Genius point of sale rollout and Worldpay acquisition during a second-quarter earnings call with analysts, but some are concerned the reinvention is coming too late.

The card brand's Pismo platform will support banking services for the Auckland-based fintech Dosh; Tether collaborates with a blockchain firm to expand USDT. That and more in American Banker's global payments and fintech roundup.

With federal oversight easing, Rhode Island joins states pushing cybersecurity laws for finance companies not covered by federal bank regulators.

Nilay Doshi is a Senior Partner of Insurance Consulting at Wipro.