PFM

It sounds like a crazy mix, but Fifth Third says its new app would help young consumers round up debit card purchases and apply the money to their burdensome student debts. The motivation to attract millennials is clear, but will it work?

First Tennessee took a leap of faith to hire a young digital services company for its overhaul of mobile and online operations, and it says its decision has paid off.

Two popular personal financial management apps are being shut down this week. But optimism remains about banks' investing in PFM tools — so long as they rethink a technology that has failed to win over the masses.

Today a money management app, tomorrow — if all goes according to plan — a portal to all one's accounts.

It is the latest of several popular apps to close down in recent weeks.

The tie-up comes as banks put more resources into helping customers manage their finances digitally.

Through the partnership, Clarity Money customers can use Acorns’ automated investing features, while Acorns users can see a snapshot of their investing activity in the Clarity app.

The app allows users, many of them first-time investors, to get started for as little as $5.

The companies will use an application programming interface to let Chase customers send the data to the apps Finicity supports, including personal financial services apps and income verification tools.

Digital banking services should solve consumers' problems and offer them advice, and they must rely on artificial intelligence and other cutting-edge technology, bankers from TD, RBC and Bank of the West said.