Synapse is working to refine its application programming interfaces to meet know-your-customer and other complex requirements, but it's a tall order, the head of the back-office-services platform says.
Stress tests have come a long way since first unveiled to shore up confidence in banks. But some critics fear that proposals to make the system more efficient would compromise its safety.
In a study of 27 global markets, the U.S. ranked near the bottom for consumer use of fintech, raising questions about why Americans appear reluctant to dive in.
Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers.
The investment firm is launching a company called Akoya that it says will help ease the technical aspects of data sharing, as well as disputes and liability issues, for banks, fintechs and data aggregators.
The ride-sharing heavyweights Uber and Grab built their markets by making payments seamless, and their expansion plans are similarly hooked into improving payments and other financial services.
Alkami Technology said it would use its latest round of $55 million in funding to expand the white-label services it currently offers small banks and credit unions.
The digital bank is a whole new line of business for Goldman, meaning there's no risk that it is cannibalizing from the main institution, said Omer Ismail, the head of the bank's U.S. consumer business.
