August 2024: Top five movers and shakers stories of the month
FinTech Futures takes a look back at five of the top movers and shakers stories in August.
USAA
USAA president and CEO Wayne Peacock to retire in 2025
Peacock joined USAA in 1988 and became its CEO in February 2020.
USAA hit with $140m fine from FinCEN for Bank Secrecy Act violations
USAA admitted to failing to accurately report in a timely manner thousands of suspicious transactions to FinCEN.
USAA Federal Savings Bank nabs new risk head from Citigroup
Neeraj Singh replaces retiring Torben Ostergaard.
Wells Fargo ordered to pay USAA $200m for infringed payments patents
USAA has further lawsuits pending over cheque deposit system.
USAA customers to get $12m back for payment errors
Consumer Financial Protection Bureau also fines bank $3.5 million.
USAA and StreetShares join forces for SME lending
A six-month pilot to bring small business financing to US military veterans.
USAA begins testing AR-powered car-buying app
The app recognises cards and gives purchase info in real time.
Wells Fargo under fire from USAA over remote deposit capture patent
USAA claims it is the original inventor of the technology.
USAA links with Clinc for conversational AI banking
Banking and insurance provider USAA has opted for Clinc’s artificial intelligence (AI) platform to provide human-like conversations for its customers’ bank accounts. Available as a pilot programme at USAA Labs, its members, who consist of 12 million current and former members of the US military and their families, can use the “non-chatbot AI” to talk […]
USAA invests in AI tech vendor CognitiveScale, implements its products
USAA, a banking and insurance provider that focuses on the US military personnel and their families, has made a “strategic investment” in machine intelligence software vendor CognitiveScale.
More banks get mobile with Android Pay
Like an astute player of the Risk board game, Android Pay’s global expansion plans continue apace as it is working with several banks to let their customers add cards to its service from a mobile banking app. The latest banks include Bank of America, Bank of New Zealand, Discover, mBank and USAA. They follow on […]
USAA gives development rights to Persistent Systems
USAA, a provider of banking and insurance services to the US military personnel and their families, has granted intellectual property (IP) rights to Persistent Systems for the development of its banking tech. Through this agreement, India-based Persistent will look and attempt to extend USAA’s technologies to identify and verify members. Persistent says it will focus […]
USAA launches online virtual assistant
USAA, a provider of banking and insurance services to the US military personnel and their families, has launched a virtual assistant for its website. The solution is based on the Nina artificial intelligence (AI) technology, supplied by Nuance Communications. It will provide immediate online support and answers to USAA’s member’s “most critical needs”, says Nuance, […]
USAA teams with Coinbase for Bitcoin
The United Services Automobile Association (USAA), a financial services group, has partnered with Coinbase to give Bitcoin usage a timely boost. Late last year, USAA launched a Coinbase pilot program, which allowed select USAA employees and members to view their Coinbase accounts on the USAA website and mobile app. Following the successful pilot, all account […]
USAA Bank enlists talking mobile banking app
US bank USAA Bank has adopted a mobile virtual assistant called Nina, developed by Nuance Communications, which lets customers interact with their bank account in novel ways that simulate a conversation with a real human.
