Digital banking

Payments system and community banks need FedNow

10/23/19

Congress should get behind the Fed's effort to launch a real-time payments service instead of getting in its way.

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U.S. Bank to cut thousands of branch workers in digital push

10/22/19

U.S. Bancorp is eliminating thousands of branch workers as it adjusts to changing customer preferences, according to a person briefed on the decision.

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Banks must act now or risk becoming a ‘footnote’: McKinsey

10/22/19

A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, the consultancy said in its annual review of the industry released this week.

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Keys to small banks’ survival: One regulator’s view

10/21/19

Complaints that banks, credit unions and nonbanks compete on an uneven playing field should be heard, just as community banks must take seriously the threats from high-tech rivals, says Julie Stackhouse, a retiring supervision official at the St. Louis Fed.

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The banks warming to AI-based lending

10/21/19

At TCF National Bank in Detroit and First National Bank of Omaha, early results from artificial intelligence pilot programs are strong.

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Investors Bank teams with OnDeck to offer online business loans

10/20/19

Customers of the New Jersey bank will be able to complete applications in minutes and receive funding in as little as one business day.

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Why Scotiabank is building 'digital factories'

10/18/19

The Toronto-based bank has hired 1,200 people across five countries in North and South America to focus on digital features.

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Bank, fintech team up to offer no-cost early wage access

10/18/19

The service from Evolve Bank & Trust and Branch lets workers access a piece of their next paycheck to meet unexpected expenses.

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Third-party glitch disrupts services of two popular challenger banks

10/17/19

The payment processor Galileo suffered what it described as an "operational incident" that caused more than 24 hours of outages at the fintechs Chime and Varo Money.

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API developer Galileo raises $77M to expand outside North America

10/17/19

The fintech provides API support to Chime, Varo Money and other challenger banks.

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