Online and mobile banking traffic at Bank of America soared in the last year, including a 60% spike in the use of its virtual assistant Erica. David Tyrie, the company's head of digital, wants to keep driving adoption by pitching financial planning tools to millennials and Gen Z.

Many loyal Simple customers have complained about the recent decision by BBVA USA to close the fintech seven years after buying it. The lingering business and cultural challenges that led to the move underscore the long odds against making such combinations work.

The fintech's investors include the actors Leonardo DiCaprio, Orlando Bloom and Robert Downey Jr.

Banking Committee Chair Sherrod Brown told acting Comptroller of the Currency Michael Hsu that the cryptocurrency firms approved to operate national trusts under prior agency leadership “seek access to the benefits of a bank charter” without meeting certain regulatory standards.

How digital capabilities are supporting small business operations amid disruption

Peeyush Nahar, who also spent 14 years at Amazon, brings both Big Tech and startup experience to a consumer-banking unit that has lost several senior leaders in recent months and faces challenges common to entrepreneurial divisions within large organizations.

The agency issued a request for information to gather feedback about how institutions facilitate use of cryptocurrencies and other kinds of assets, and what factors regulators should weigh as they develop supervisory policies.

By becoming a bank, the digital-only challenger zigged when other fintechs zagged. Some of the short-term consequences of that decision — including heavy regulatory costs — are becoming clearer, but CEO Colin Walsh says the company is sticking with its long-term growth strategy.

The company, once known as Southern National Bancorp of Virginia, plans to launch the as-yet-unnamed platform by the end of this year.

The regional bank has renovated an office tower in downtown Buffalo, N.Y., to house 1,000 technology professionals it's hiring, retrain workers, collaborate with fintechs and overhaul everything from mortgage lending to fighting debit card fraud.

Large banks like Chase, PNC and U.S. Bank were seen as having more resources to devote to customer relief and upgrade digital channels that consumers came to rely on, according to a J.D. Power survey.

Ken Meyer, who will speak at American Banker's Digital Banking AI & Automation conference next week, says banks should be able to quickly catch up with big technology companies and financial services upstarts in the adoption of artificial intelligence without alienating customers or running afoul of regulators.

The Ohio regional took advantage of an unexpected boost in interest income in the first quarter to upgrade its digital platform and recruit bankers in wealth management, capital markets and Small Business Administration lending.

The company plans to shutter five locations, or roughly 12% of its network, next month.

The agency first sought feedback in February 2020 on how it could update its logo, but the process was suspended two months later amid the COVID-19 pandemic.

The Silicon Valley payments giant collaborates with incumbent banks. But its plan to launch a single mobile app where consumers will shop, make payments and manage their money is reinforcing long-held industry fears about the threat from Big Tech.

The Mexican unit of the fintech Nubank, the world’s biggest standalone digital bank, is getting a $135 million injection to propel its nascent operations in Latin America’s second-largest economy.

JAM FINTOP Banktech will fund startups that offer services designed for the banking industry. All 66 limited partners are banks.

While branchless banks are taking market share from brick-and-mortar rivals, they aren’t necessarily wowing consumers with service, according to a recent J.D. Power survey. The findings suggest that direct banks can do a better job communicating with their customers, particularly in times of crisis.

A comprehensive strategy around when and how consumers pay bills online can better help credit unions understand members' behavior patterns and deepen those relationships.