The bank, one of the few that do business with digital currency exchanges like Coinbase, has developed methods for monitoring all customers’ digital currency purchases.
Zelle processed 116 million transactions during the third quarter as its payment volume jumped to $32 billion, while Venmo's volume increased 78% to nearly $17 billion.
In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.
The Pittsburgh bank joins Bank of America and other large financial players in a distributed-ledger network that seeks to make global payments in real time.
Digital currencies can outlast bitcoin's volatility because they are more egalitarian than the traditional payment system and offer a better alternative for emerging countries, the cryptocurrency exchange says.
At this year’s Swift Business Forum in New York, executives said banks can build "more intelligent routing" to speed up payments and reduce the cost of processing and delivery.
Minal Hasan, a lawyer turned prominent fintech venture capitalist, has strong views on founder dramas, cryptocurrency, and why banks need to step up their technology game.
