The Birmingham, Alabama, bank is moving its head of consumer banking, Scott Peters, into a new role as chief transformation officer to build new technology infrastructure.

David Reilly oversaw cybersecurity efforts at the bank for years and has learned how employees with access to sensitive information can be flipped, conned or extorted into cooperating with hackers.

The state banking commissioner criticized the online peer-to-peer lender's tipping policies, failure to disclose tips and lack of lending and collections licenses in the state.

In order to align financial policy with the interests of consumers, the agency should consider why these services have caught on — and remember to keep a lane open for innovation.

The CEOs of both Upstart and Oportun said this week that while they will maintain their existing interest rate limits, some higher-risk customers will no longer qualify for their loans as borrowing costs rise.

The Minneapolis company believes a new partnership with LiquidX will grow its niche supply-chain financing business by 'multiples.' The goal is to help more suppliers get paid early in a system that's been pinched throughout the pandemic.

Banks such as Capital One and Ally Financial are taking a page from fintechs and adopting early payday and eliminating overdraft fees.

The challenger bank can now let its customers use fintech apps, and it has plans to offer banking services through third parties.

Amid fresh competition from newcomers seeking to build brand recognition, banks that sponsor pro sports teams are leaning into content that tells a story about their connections to local communities.

GradFin offers advisory services to Americans who want assistance with their student loans. The acquisition is part of the Cleveland bank’s strategy of adding niche digital businesses.

Increasing numbers of banks are now letting business customers do their banking within their existing accounting and workplace software.

Nearly three in four banks said in a recent survey that finding people with the right skills is a hurdle as they try to comply with decade-old rules regarding their financial models.

Launch Credit Union claims it reduced fraud by 97% after adopting a real-time solution in 2020.

While some American lenders have started to exit the region, the overall impact on their operations has been moderate, the central bank said in its semiannual Supervision and Regulation Report.

The technology giant is partnering with a fintech firm to deploy $25 million of deposits at minority-owned banks, community development financial institutions and other mission-focused lenders. It’s part of a broader effort by the iPhone maker to combat systemic racism.

Shortly after the reveal of Stripe Financial Connections, the CEO of its longtime partner Plaid took to Twitter to accuse the company of exploiting their relationship to build the new service. At stake is the growing market for digital transactions.

Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

A new product called Financial Connections links businesses directly to customers' banks, giving the payment technology vendor a feature that makes it a direct competitor to data-fueled fintechs.