The bank is focusing on pre-seed companies that specialize in fintech or other forms of technology and have diverse founders.

The New York bank is hoping for 30% to 40% productivity improvements from the use of AI in areas like software development and knowledge extraction.

Brent Grable will take on managing IT and operations at the Massachusetts bank. He formerly worked at Santander and State Street.

Bank of America and JPMorgan Chase are particularly active as they build educational microsites and drive digital lending with EV manufacturers.

End-to-end automation remains a long-term goal as banks and insurers focus on point solutions, at least for now.

One of the oldest U.S. banks sees innovation as part of risk management, not a discretionary cost.

The FDIC reviewed more than 20 other offers before selling the failed bank, including one from a San Francisco fintech.

The fintech already has a number of large bank partnerships, including Morgan Stanley at Work and Wells Fargo.

The challenger bank offers the largest advances on the market, but it is still working to become net cash positive and faces stiff competition.

First Horizon commits part of TD breakup fee to local communities, Southern Security poised for huge membership growth, Marqeta faces layoffs and more in this week's banking news roundup.

The Consumer Financial Protection Bureau alerted staff this week that text messages had been sent to employee personal phone numbers claiming to be from Director Rohit Chopra.

Michigan State University Federal Credit Union is partnering with Debbie, a Miami-based fintech that helps consumers break free of delinquency and correct bad spending habits, to strengthen its financial education tools and build its deposit base.

The director of the Consumer Financial Protection Bureau told a fintech audience Thursday that banks need to make it easier for consumers to switch accounts, and should make lending decisions with less reliance on credit scores.

Lenders used the firm's software in nearly a quarter of originations in the second half of last year, up from 14% over the same period in 2021.

The credit card company believes that its Prism subsidiary will better serve other financial services companies as an independent firm.

Charlie, a digital banking service, will advance users their Social Security benefits and will try to act like a "smart, kind and trusted nephew."

Antiquated rules separating banking and commerce are preventing an infusion of capital that would revitalize the banking market.

The attack on AvidXchange, which the company said it learned about in early April, exposed its bank account numbers and some embarrassing security practices. It's part of a growing trend of data exfiltration attacks.

A recent study looked at government-backed virtual currency.