A Denver company says that the $410 billion-asset bank used its confidential information to create a copycat product and poach its customers. PNC is contesting the allegations.
In the battle to control consumer data, Visa has made a major score by agreeing to acquire Plaid, a technology company that it could have seen grow into a competitor.
Many small banks remain skeptical of the payments network because it is owned and operated by big banks and they are waiting for the Federal Reserve to launch a rival service.
Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results.
Shamir Karkal’s startup, Sila, is launching an API platform that gives developers a way to connect traditional bank systems to distributed ledgers like Ethereum.
The Clearing House announced moves to attract community banks and credit unions to its real-time payments system. Smaller depositories have generally been reluctant to sign up with what is seen as a large-bank effort.
