News Topic: Fintech

Arthur Levitt says seemingly daily scandals highlight the lack of oversight and corporate governance shortcomings of financial technology firms, but two marketplace lending executives responded that more mature companies have just as many problems. ... Read full article

The identity theft threat created by the Equifax hack and the growth of online lending have given software makers a platform to pitch products that rely on selfies, scans of driver’s licenses and other nontraditional ID methods. ... Read full article

Separate apps for banking and PFM are too much for most customers to handle, so the Canadian bank is adding automated advice and savings to mobile banking — and it’s relying on artificial intelligence and predictive analytics to make it all work. ... Read full article

Brett King talks about diversity in fintech with Anouska Streets, head of engineering at Finkit, a unit of digital banking software company Monitise; and Colleen Wilson, founder and CEO of consulting firm Collaborate Chicago. ... Read full article

Readers chime in on debates about ILCs, the CFPB’s arbitration rule, the financial services ambitions of tech firms and more. ... Read full article

Did hackers access the credit bureau's computers two months earlier than the company first thought?; the Fed's decision to start unwinding its balance sheet should raise rates and boost bank profits. ... Read full article

It's not just big banks. Even U.S. community banks may be subject to the General Data Protection Regulation given the boundlessness of digital commerce. ... Read full article

JPMorgan Chase is partnering with another fast-growing technology firm, this time to help business clients eradicate paper checks. ... Read full article

The Upstart Network's CEO, Dave Girouard, explains how the online lender worked with a normally aggressive federal regulator to balance the needs for innovation and consumer protection. ... Read full article

The Independent Community Bankers of America had initially called for a moratorium in response to SoFi's application, and says now that Square's bid "has significantly increased our concerns." ... Read full article

Banks should not be fatalistic about the threats posed by tech companies in financial services. Incumbents still hold the upper hand. ... Read full article

The Consumer Financial Protection Bureau issued its first "no-action letter" to an online lender that uses alternative data to determine creditworthiness and loan pricing. ... Read full article

More blazers — and fewer T-shirts — are evident at this tech conference than when it began 10 years ago, a sign of how fintech and traditional banking are blending. ... Read full article

Vikram Pandit, who ran Citigroup during the financial crisis, said developments in technology could see some 30% of banking jobs disappearing in the next five years. ... Read full article

Square became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow. ... Read full article

Many of the arguments in this debate have less to do with the applicants’ qualifications than with traditional banks’ fear of new, innovative competitors. ... Read full article

The person-to-person payment service, the big banks’ answer to Venmo, is scheduled to launch a standalone app next week. ... Read full article

The changes to the National Multistate Licensing System will include a more customized user experience for companies and functionality for states to share examination data. ... Read full article