"Smart" contracts enable the Chicago-based trust bank to carry out deals without intermediaries, while archiving details on transactions that can be useful later. Experts say other banks could follow despite the complexities of cutting-edge technology and the risk of being hacked.

Citizens Bank of Edmond in Oklahoma, in conjunction with the digital-banking platform Narmi, recently launched an account-opening process that occurs completely online. The project, completed in less than three months, could be a model for community banks that want to innovate but fear being a low priority for vendors.

Artificial intelligence can and should be integrated into the business of banking, but with adequate safeguards in place to mitigate the technology's potential vulnerabilities.

The fintech's second-quarter results showed narrowing losses as well as membership and revenue growth, even as it took on marketing expenses and paid a data breach settlement.

Fraudsters are using sophisticated skimming devices to steal more card data — and they aren't afraid to encroach on bank property to do so, according to new data from Fair Isaac Corp.

In global news this week, Microsoft is working with the London Stock Exchange Group on artificial intelligence, Apple's mobile wallet debuts in Vietnam and more.

The release of two malicious language models — WormGPT and FraudGPT — demonstrate attackers' evolving capability to harness language models for criminal activities.

The rapid pace of innovation, reliance on a web of vendors and regulatory scrutiny means fourth-party risk is a more pressing consideration than in the past.

Stax Payments appointed British financial executive Paulette Rowe as its new chief executive officer, making her one of the few Black women to lead a finance company.

Generative artificial intelligence could make it possible for borrowers to understand how their behavior reflects their creditworthiness, and create better outcomes for everyone.

British banking app Revolut Ltd. will stop offering crypto trading services to US-based customers from September, citing market uncertainty and changes to the local regulatory landscape.

Regulators have been issuing real-time-payment requirements that push EU banks to modernize their core processing systems. U.S. banks may feel similar pressure from the movement toward real-time payments.

A Figure spokesperson said the decision to withdraw the banking charter application was to enable the company to focus on other areas of growth.

The fintech lender says its loans are meeting a need for people living paycheck to paycheck that the mainstream financial community is not, and that its loans cost far less than subprime credit cards or payday loans.

More than 1,000 users reported problems making payments on Tuesday before complaint volumes tapered around midday, according to DownDetector, a site that collects user outage reports. The internal network disruption comes on the heels of another Zelle outage JPMorgan Chase took responsibility for seven days ago.

Michigan State University Federal Credit Union and Nymbus teamed up to design a package of business banking tools with an eye toward credit unions, which historically have tread lightly into this space.

Its One Ally strategy is meant to help the bank with personalization and cross-selling.

In July's roundup of American Banker's favorite stories: A Zelle outage at JPMorgan Chase could cause headaches for other banks, talking points for understanding FedNow, the Elkhart, Kansas-based Heartland Tri-State Bank is shuttered by the Federal Deposit Insurance Corp. and more.