Lending

Loans grew amid a surge in deposits, while membership surpassed 117 million and industry consolidation continued.

Although Libor will will not be phased out until at least 2021, Randal Quarles said making the switch early is "consistent with prudent risk management."

New technologies can increase lending and reduce risk but many management teams don't know where to begin with implementing them.

Wider net interest margins compared to a year earlier helped make up for a slight decline in loan balances, as nearly two-thirds of banks reported higher profits in the first quarter.

ChargeAfter, a startup that matches retail customers with financing options at the point of sale from various lenders, has raised $8 million in its first major funding round.

Purpose Financial has agreed to purchase CreditGenie Inc. as payment companies face pressure to offer point of sale financing.

Steve Hagerman, who was responsible for the first mortgage platform at JPMorgan Chase, will be head of consumer lending technology at Wells. It also named Gary Owen, a veteran of WarneMedia, Promontory Financial and Citi, its chief information security officer.

The California-based institution posted growth in loans but saw net income fall from a year earlier.

Mastercard is making a niche play in the hot point of sale financing market, teaming with Dividio and lastminute.com to offer installment loans at checkout.

From data analytics to focusing on a service culture and more, here's a look at how technology is radically remaking lending.