As the fintech industry looks for ways to bring on more women, crossover hiring — recruiting from traditional financial services firms to fintechs — has emerged as an effective strategy, Donna Parisi of Shearman & Sterling and Michelle Tran of NYC ... Read full article
Firms such as Afterpay that offer financing to shoppers have been enjoying rapid growth. But their model is under scrutiny from regulators, being mimicked by credit card lenders and faces heightened risks in a downturn. ... Read full article
The agency's recent update to its guidelines for banks on working with data aggregators and other third parties was not extreme, but some critics say its heavy emphasis on security could be a setback for open banking. ... Read full article
The credit education provider plans to use its deep knowledge of credit scoring to advise account holders on how to improve their scores and cash management simultaneously. ... Read full article
The all-digital bank is hoping to win over consumers with above-average savings rates and more detailed analysis of their spending habits. ... Read full article
A handful of banks keep trying to make the customer-Alexa connection happen; banks are more worried about payments firms than other types of fintechs; how financial institutions are coping with COVID-19; and more from this week’s most-read stories. ... Read full article
FirstBank, the initial customer of the startup Finxact, sought a modern core system that jibes with fast payments and other new technologies. ... Read full article
Banks make emergency preparations as HSBC deals with confirmed case; the changes simplify regulations without posing additional systemic risks, the Fed says. ... Read full article
The best community banks layer human-facing services with new technology to beat the heavyweights in their market. ... Read full article
Compliance, risk management and staffing will likely come under added scrutiny as regulators lay out a framework for future fintech-bank mergers. ... Read full article
Banks are so caught up in the newest technology trends that they lose sight of the need to build a talented workforce and a purpose-driven organization. ... Read full article
Banks, especially smaller ones, are more worried about the competitive inroads that Apple Pay, Venmo and others have made than they are about tech companies' incursions into other financial segments, according to a new survey by Promontory Financial. ... Read full article
A CFPB event on data-sharing issues gave the parties a chance to debate the merits and risks of screen scraping, what can replace it and what consumers really want. ... Read full article
Fintechs like LendingClub and Varo Money illustrate how the traditional financial system is changing. Banks that don’t rapidly evolve with technology will be obsolete. ... Read full article
One platform under development will let financial technology startups use a single portal to obtain licenses from multiple states, and another will let states collaborate on examinations. ... Read full article
In every segment except people older than 64, a majority would consider banking with Apple, Google, Amazon or Facebook, a new survey finds. ... Read full article
Payments firm announces leadership changes; the bank will place restrictions on fossil fuel lending while adding to sustainable projects. ... Read full article
WSFS, in an effort to catch up with bigger rivals, plans to upgrade digital channels in three years instead of five. ... Read full article
Observers speculate that Intuit simply wants to enhance revenue and protect its tax software business, but the CEOs of each company say the deal would also give consumers more control of their overall finances. ... Read full article
Intuit is reportedly buying Credit Karma for $7 billion. The move is seen as a way for Intuit to get access to more consumer behavior data, generate new sources of income and potentially protect a key business. ... Read full article
