Discover Financial Services exec Michael Rhodes to take the lead at Ally Financial as new CEO
Ally Financial has been on the hunt for a new CEO since the departure of Jeffrey Brown in January.
BankingTech
Missouri’s Central Bank taps Personetics for AI-powered money management solution
The bank is looking to expand its digital financial wellness offerings for its retail customers.
If Mary has three apples…
Always measure opportunity cost. What are you not doing while you are doing what you are doing?
BNY Mellon deploys AI supercomputer from Nvidia
BNY Mellon has deployed Nvidia’s supercomputer, DGX SuperPOD with DGX H100 systems.
Cloud banking: 60 years on
Cloud is all the rage again, and the advantages for banks of being truly cloud native are huge.
Finalists announced for Banking Tech Awards USA 2024
Winners of this year’s awards will be announced at a gala dinner ceremony in New York on 30 May.
IndusInd Bank partners Tappy Technologies and Thales to launch tokenisation solution for wearable payments
The Indus PayWear app will enable the bank’s customers to tokenise their cards for use with wearables.
The procurement saints
Procurement buddies, those workday saints, have always been what separates a good day from a terrible one.
US-based Central Bank taps TCS for core banking upgrade
The Missouri-headquartered bank will deploy the vendor’s flagship TCS Bancs core banking system.
Video: ABN Amro at FinovateEurope 2024 – Keeping up with technological change
Edwin van Bommel of ABN Amro discusses the key areas banks should be targeting with their transformation projects.
Copper State Credit Union selects Jack Henry as new enterprise technology provider
The Arizona-based credit union is consolidating its tech infrastructure under one platform.
Cloud banking tech provider nCino acquires DocFox to streamline account opening
DocFox provides account opening software built to help simplify the customer onboarding process.
Video: ING at FinovateEurope 2024 – Digital transformation trends
Marco Eijsackers of ING discusses the key digital transformation trends across financial services.
Regional Federal Credit Union partners Sharetec for core processing
Sharetec’s Velocity solution will be deployed to replace the credit union’s existing in-house core system.
JP Morgan Chase hit with $348m in fines related to its trade surveillance programme
The fines were issued by the the Office of the Comptroller of the Currency and the US Federal Reserve.
The evolving relationship between supermarkets and banking and the key role of fintechs
Supermarkets across the globe continue to embrace fintech partnerships to power their financial services.
Is talking to our money the next user experience paradigm?
We need a way of literally talking to our money to help us build a proper relationship with it.
Mastercard pilots new Smart Subscriptions feature in the US powered by open banking
Smart Subscriptions enables consumers to cancel, pause and resume their subscription-based payments.
The art of not dying
Maintaining your tech estate is not an exercise in bravery, but rather an exercise in risk management.
Jefferson Bank in Texas taps Finastra for Payments To Go solution
Finastra’s tech will enable the bank to deliver instant payment services including FedNow and RTP.
“What are we getting for our tech spending?”
Research has shown there is no industry-level correlation between spending on tech and growth.
US neobank Oxygen switches focus from banking to health in new strategy
Consumers and business users have been informed that their accounts will be closed on 29 March.
US Federal Reserve “nowhere near recommending, let alone adopting” a CBDC, chairman tells Congress
Fed chairman Jerome Powell tells Congress that “people don’t need to worry”.
Going for gold: when fintech meets the Olympics
With the Paris Olympics on the horizon, we take a look at the relationship between the event and fintech.
US digital bank Green Dot hires Melissa Douros as new CPO
The new CPO will head product design and team development for the Texas-based fintech.
CFPB to cap credit card late fees at $8 and increase accountability among issuers
The new limit is poised to save US consumers more than $14 billion a year.
Forget the accolades and the pleasantries and pay us
For this International Women’s Day, and for all the days that follow, my message is simple: pay us.
From start-up to unicorn – the rise of Revolut
Vytautas Danta, CCO and deputy CEO of Revolut’s European entity, discusses the fintech’s remarkable rise.
New York Community Bancorp secures $1bn equity boost following Q4 2023 losses
NYCB has also made several high-profile appointments to its board of directors.
US neobank Dave achieves profitability over Q4 2023
In Q4 2023, the LA-based neobank generated a GAAP net income of $200,000 and EBITDA of $10 million.
Crabs and KPIs
The majority of organisations fail because they allow folks to see what other teams do as ‘not my problem’.
Cotribute tapped by Clearwater Credit Union to streamline digital account opening and loan origination processes
The partnership will see Clearwater leverage Cotribute’s consumer and business digital account opening modules.
Banking Technology Magazine March 2024 issue out now
Cover story: CREATIVE THINKING – How a borefest could lead to the best ideas.
BaaS vendor Synctera lands additional $18.6m Series A cash injection
Going forward into 2024, Synctera plans to launch its new payment product SyncteraPay.
California’s Edwards Federal Credit Union taps Apiture for consumer banking solution
The 62-year-old credit union has around 12,500 members across California’s Antelope Valley region.
Treasury Prime trims workforce amid strategic pivot to focus on direct-to-bank partnerships
The pivot comes a year after the firm completed a $40 million Series C fundraising round.
VyStar Credit Union partners NCR Atleos for Allpoint ATM Network access
The Allpoint Network currently supports around 40,000 ATMs across the United States.
The history of banking technology vs the history of banking experience
Over time, the transactional aspects of banking have been solved, but not the emotional ones.
Green Dot receives proposed consent order from US Federal Reserve
Green Dot says the consent order relates “principally to various aspects of compliance risk management”.
State of play: banking
Banks are facing a myriad of challenges, from transformative technological shifts to increasing competition.
