Technology

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.

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."

Though quantum computing is not quite ready, banks are testing it for portfolio optimization, index tracking, options pricing and other tough mathematical problems.

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.

The founding CEO of PayPal and former CEO of Intuit plans to launch Nirvana Money next month. It will combine basic banking with an alternative to a secured card that evolves into a normal credit card.

The upstate New York bank took criticism last year over layoffs tied to its acquisition of People's United Financial. Connecticut's attorney general now has additional questions about both the job cuts and problems with a recent systems conversion.

Regulators are starting to look at bank-fintech partnerships as a source of systemic risk, but the real problem is the lack of consistent prudential rules outside of banking.