Rellevate, founded by Stewart Stockdale, will offer pay advances, fast bill pay payment and international remittances for consumers who live paycheck to paycheck.
The bank was burned by a core replacement project that failed in 2011. This time, it's using its PurePoint unit as a test lab and co-developing the software.
Wells was ordered to pay USAA $102.8 million for infringing on its mobile deposit patents. It follows a separate lawsuit loss in November also related to patents.
The bank is investing in a new authentication platform because password-based security systems have too many weaknesses, says Juan Francisco Losa, BBVA’s global head of security architecture.