Robo advisors

A combination of mutual and clashing interests has driven many players — credit unions, big banks, community banks and fintechs — to offer high-interest, digital-only savings and checking.

A combination of mutual and clashing interests has driven many players — big banks, community banks, credit unions and fintechs — to offer high-interest, digital-only savings and checking.

In addition to launching an automated investing app, the bank created a dedicated adviser unit to provide personal service to customers when they need it.

Despite the growth of digital advice, there's resistance to the business inside banks because of internal politics and a lack of data sharing, the company's CEO says.

Traditional players are getting innovative, and upstarts are becoming more sophisticated. The survivors will be companies that offer consumers an array of easy-to-use services, a venture capitalist says.

United, which helps retirement-age savers find the best ways to manage their wealth, is Capital One's answer to a flurry of similar deals made by rivals.

The workers charged customers incorrect currency conversion rates; Santander plans to defend its decision not to hire Andrea Orcel if he sues.

Several wealth management firms, including Marcus by Goldman Sachs and Wealthfront, have launched banking products to complement their investment services.

Lenders have learned that automated wealth management tools enhance financial advisers' interaction with clients and can bring in more business.

The offering would mirror a similar move by Charles Schwab to offer clients a new pricing plan for its robo service.

Whether it’s applying for a loan through a mobile app or building an investment portfolio via robo adviser, users want to know they can quickly and easily speak to a human being if they run into problems, top executives said at American Banker’s Digital Banking conference this week.

Galileo Processing has created a digital banking product that seeks to provide wealth managers with the offering they generally lack: an in-house savings account that pays competitive rates.

The investment platform, which is in the early stages of development, will be part of Marcus, the consumer bank Goldman launched in 2016.

The system is designed to help banks deliver more personalized financial advice and is meant as a challenge to traditional bank technology vendors.

Page views and sales results don't explain which customers do what, and why they do things (or don't do them), in online and mobile banking.

Gatsby, which has built an app to let novice investors buy puts or calls, has received funding from Barclays, Radius Bank and others. Radius is considering offering the service to its customers.

The bloc said the company artificially raised interchange fees in Europe; weather changes that increase flood risks may mean defaults on mortgages.

The coming year will bring a wave of data-sharing deals between banks and fintechs, increased bank use of automated advice, marked changes to financial jobs as a result of automation, and much more.

Many digital-only robos are slowly adding human advisors.

Ninety million Americans have an adversarial relationship with their finances, says Dee Choubey, CEO and founder of MoneyLion.