Facebook grabbed the spotlight this week with the announcement of its Libra cryptocurrency initiative, and its list of high-profile supporters suggests that it's the only game in town. But banks have their own projects in the works.

Many might think that the technological disruption of the industry is already underway, but it’s likely that the most significant restructuring is still yet to come.

With millions of consumers switching their primary financial institution annually, many credit unions are faced with a quandary: come up with the money for digital offerings or risk losing a growth opportunity.

House Financial Services Committee Chairwoman Maxine Waters and Rep. Patrick McHenry, the top GOP panel member, said Facebook must testify about Project Libra.

Many people still distrust banks, but many also look askance at the social media giant, making it an unlikely savior of the unbanked.

Open-banking technology provider Token has secured $16.5 million in a strategic investment from investors that include Opera Tech Ventures, the venture arm of BNP Paribas.

There’s a long list of reasons traditional lenders haven't kept up with the needs of entrepreneurs, says Judith Erwin, the head of Grasshopper Bank in New York. One is not asking for enough feedback.

Both are useful, but each has specialties in protecting different types of transaction processes, according to Rambus Payments' Andre Stoorvogel.

Facebook is focusing the initial discussions around its cryptocurrency project as a preemptive strike against the privacy and legal concerns the public and politicians have about the huge social network.

The company will create a regulated subsidiary offering a digital wallet; San Francisco Fed wants CRA credit for loans that help prepare for climate change.

Investment in B2B fintech startups has been ramping up for the past couple of years, and in the next year we’ll start to see businesses reaping the benefits of the fintech wave, says Nvoicepay's Karla Friede.

The Dutch company is no longer a bank in some countries, but more of a digital matchmaker between consumers and financial products provided by third parties, explains innovation chief Benoit LeGrand.

MoneyGram International will use Ripple's blockchain to boost foreign exchange settlement for international payments.

As both large payment processors and fintechs are attracted to the market opportunity presented as B2B transactions start to digitize, one vendor hopes to stand out with an AI-based workflow.

Democratic presidential candidate Pete Buttigieg said the way credit scoring is done in the U.S. is fraught with inequality and he's worried the process may get worse with systems based on artificial intelligence.

The executives were hired for their focus on loan origination, portfolio management and securitization.

The bank is looking to combine several units that invest in income-producing assets; increased scrutiny has led banks to address the risks of climate change.

The fraud challenge faced by issuers and merchants alike has become increasingly complex over the last few years with the prevalence of e-commerce and cross-border payments. Visa's response to these trends has benefited heavily from the global scale it got by reabsorbing Visa Europe in 2016.

As bots dominate new internet traffic, their ability to help crooks launch account attacks and exploit personal information has never been higher, says NuData Security's Robert Capps.

Dozens of companies, including Google and PayPal, met with OCC officials last year in part to discuss obtaining a new fintech charter, but many ultimately decided not to pursue it, according to sources. Here's why.