Technology
Customers Bank, Cogent Bank and Western Alliance bank settled 400 transactions among themselves in real time, over the course of eight hours.
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A new report from American Banker's parent company finds that traditional banks are vulnerable to competition from online banks and fintechs such as PayPal and Square. It recommends that banks build deeper relationships with small-business owners by adding more products to their traditional suite of offerings.
October 2 -
The challenger banks Mercury and Nerve are offering networking events, tailored accounts, credit cards and more to attract a once neglected market.
September 30
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FS-ISAC will test banks' cybersecurity defenses in "hyper-realistic" simulations of malware, phishing and ransomware attacks.
September 29 -
The claim that these arrangements are unregulated is inaccurate, and instead, more oversight would destroy the benefits of banks working with fintechs on consumer products.
September 29 -
The London bank is working with Nova Credit to accept immigrants' credit histories from their home countries. It also invested $10 million in the company.
September 28 -
Angel Oak Capital Advisors has helped institutional clients buy subordinated debt with the assistance of a distributed ledger developed by Brightvine. Benefits to the issuer and investors include a central place to find all documents and automated updates when banks pay off their loans.
September 27 -
The online lender approved Black applicants at lower rates than non-Hispanic whites, according to a law firm that monitors its artificial intelligence models. Upstart said it's an industry leader in fair lending but acknowledged room for improvement, calling disparities "an industry-wide challenge."
September 26 -
AB - TechnologyThough quantum computing is not quite ready, banks are testing it for portfolio optimization, index tracking, options pricing and other tough mathematical problems.
September 22 -
Since it began using virtual reality to instruct employees one year ago, BofA has expanded its use of the technology for challenges that require split-second decisions.
September 22
