Lorch, who has been with the company since the launch of the online-only First Internet Bank more than two decades ago, will inherit the job from David Becker, who remains chairman and CEO.

Changing the retailer's prepaid card into a demand deposit account gives customers access to more digital banking tools.

The nation’s largest bank has no retail presence outside of the U.S., but that will change later this year when it launches an online-only bank in the United Kingdom. CEO Jamie Dimon has hinted that if the venture proves successful, the Chase brand could eventually be rolled out in other parts of the world.

Sunwest Bank in Irvine, California, lets business customers open new checking accounts completely online, a technology challenge some large and regional financial institutions have yet to tackle.

Revolut is in the early stages of a fundraising round that could value the British company at $20 billion or more.

The move is part of an effort by the largest U.S.-based bank to bring more of its digital banking services to other countries.

Bank of Montreal picked Amazon.com’s web-services division as its preferred cloud provider to help the bank modernize operations and introduce new digital applications.

Derek White, former financial services head for Google Cloud, wants to take Galileo — the SoFi unit that provides tech services to challenger banks — international and into new niches outside banking.

The San Francisco company has promoted or hired several bankers to steer growth in retail and commercial banking operations just months after completing its purchase of Radius.

Capital One and a few others are emulating upstarts like Chime and Varo, which let customers access their paychecks two days before payday. But loss of overdraft income and potential liability for errors dissuade many banks from changing their ways.

On customer satisfaction and trust, traditional banks scored higher than upstarts in a new study of consumers who took out personal loans.

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.