- + Editors’ Picks: Top 3 features of 2024—Each month, the Bank Automation News editorial team reports on themes and trends that are dominating conversations within the bank automation industry...
- + Fintech funding to ‘stabilize’ in 2025, VCs to prioritize AI fintechs—Fintech funding continued to drop in 2024, partly due to macroeconomic conditions, but investors expect funding to stabilize in 2025. Funding through...
- + Movers and Shakers: Symes to be new CFO at Checkout.com—Payments service provider Checkout.com has appointed Philip Symes as its interim chief financial officer, according to a release from the company on D...
- + Capital One, Discover deal approved by Delaware bank regulator—Capital One Financial Corp. said it received state regulatory approval to buy Discover Financial Services, overcoming one of several more hurdles need...
- + CFPB sues Walmart, fintech for illegally opening accounts—Walmart Inc. and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers of the world’s largest retaile...
- + Fintech stocks outperform S&P 500, Dow, Nasdaq—Fintech stocks have consistently outperformed broader equity markets for nearly a decade, and 2024 was no different. Venture capital firm F-Prime Cap...
- + JPMorgan, Bank of America respond to CFPB lawsuit—Bank of America, JPMorgan Chase and Early Warning Services are standing firm against allegations made by the Consumer Financial Protection Bureau toda...
- + CFPB lawsuit against bank giants is ‘regulatory overreach,’ Zelle says—The Consumer Financial Protection Bureau announced today that it has sued Early Warning Services, Bank of America, JPMorgan and Wells Fargo for allege...
- + People First FCU to add FedNow send capabilities in 2025—People First Federal Credit Union has joined the Federal Reserve’s real time payments network, FedNow, as a receiver and aims to expand its capabiliti...
- + Bank of America clients tap Erica for subscription monitoring—Bank of America clients are using the bank’s AI-driven digital assistant Erica for data-driven insights to manage subscriptions and recurring costs. ...
- + Fintech startup Chime submits confidential filing for IPO—Chime Financial Inc., a financial technology company focused on no-fee banking services, has submitted a confidential filing with the US government fo...
- + ROI of AI: Is the juice worth the squeeze?—C-suite executives at financial institutions are implementing AI and generative AI throughout their organizations, but as experimentation turns into a...
- + Transactions: Red Hat to host SBS solutions—Red Hat’s cloud platform OpenShift will now host digital solutions for digital banking service provider SBS, according to a Dec. 12 SBS release. Thro...
- + Bank of America headcount down 25% since 2010, CEO Brian Moynihan says—Brian Moynihan hit his 15th anniversary as chief executive at Bank of America this week and shared how automating tasks and elimination of work has al...
- + TD to implement up to 2K tech ideas from employees in FY25—TD Bank is driving innovation internally by encouraging employees to submit their tech ideas to enhance the bank’s product offerings and streamline it...
- + Klarna fined $46M for neglecting fraud regulations—Klarna, the Swedish fintech that provides buy now, pay later services, was fined 500 million Swedish Kronor ($46 million) by Sweden’s Financial Superv...
- + 94% of FIs expect higher data spend in 2025—Financial institutions are bracing for higher data budgets in 2025 primarily driven by cloud infrastructure and AI technology. Nearly 94% of FIs are ...
- + Q&A with Iron Mountain’s Mario Palarca on intelligent business process management—Financial institutions are looking to invest further in digital transformation initiatives including automation and AI to ensure they have access and ...
- + Open banking helps WECU increase funding by 10%—WECU has increased funding through its digital channels by 10% since implementing open banking in 2022. Following a core and digital banking conversi...
- + Fintech Mantl enters loan origination market—Account origination solutions provider Mantl is adding consumer and business loan origination technology to its platform. The solution, Mantl Loan Or...
- + BankTech Ventures’ Katie Quilligan to speak at Bank Automation Summit 2025—Katie Quilligan, investor at venture capital firm BankTech Ventures, will speak at Bank Automation Summit 2025 on March 3 in Nashville, Tenn. BankTec...
- + Walmart’s fintech races to $2.5B value in omen for banks—Walmart Inc. is pouring more firepower into its fledgling financial venture, scoring a $2.5 billion valuation for the startup and signaling its ambiti...
- + Banks balance physical, digital demands—Financial institutions are balancing their investment in physical branches and digital capabilities as consumers continue to demand an omnichannel ban...
- + Transactions: Citizens First Bank taps WaveCX—Citizens First Bank is tapping fintech WaveCX to enhance digital engagement between banking employees and customers, and provide employee training. W...
- + Bank of America hits payments milestones with CashPro App, Paze—Bank of America on Dec. 10 revealed that its CashPro App will surpass $1 trillion in payment approvals by yearend — up 25% from 2023. December is like...
- + 4 Canadian banks spent $1.3B on tech stack mergers in 2024—Royal Bank of Canada, TD Bank, National Bank Canada and Scotiabank spent close to CA$1.8 billion ($1.3 billion) integrating the tech stacks of their r...
- + ConnectOne Bank to fully implement Mantl, ZSuite software by yearend—ConnectOne Bank is finalizing the implementation of technology by account origination solutions provider Mantl and commercial escrow and sub-account s...
- + 5 questions with … ConnectOne Bank Chief Digital Officer Ali Mattera—Ali Mattera, chief digital officer at ConnectOne Bank, is driving bankwide digital innovation. “By aligning our technology strategies with the bank’s...
- + Alliant CU’s Grover to be fireside speaker at Bank Automation Summit 2025—Bank Automation News is pleased to announce that Sumeet Grover, chief digital officer at Alliant Credit Union, will be featured in a fireside chat at ...
- + Valley Ventures invests in fintechs it can use—Valley Ventures, the investment arm of Valley Bank, invests in fintechs that can be integrated into its operations. Nearly 50% of the fintechs Valley...
- + The Clearing House raises RTP transaction limit to $10M—The Clearing House raised the transaction limit on its Real Time Payments network to $10 million, opening the door for new uses of the rail for commer...
- + TD Bank spends on anti-money laundering tech—TD Bank is investing in technology for anti-money laundering compliance after the U.S. Department of Justice fined the bank $3 billion in October for ...
- + BMO builds on digital-first strategy—Bank of Montreal continued to invest in modernization tapping data, analytics and AI. “Across our businesses, we advanced our digital-first strategy,...
- + Trump taps Fiserv CEO Bisignano for social security chief—President-elect Donald Trump is nominating Frank Bisignano, the chief executive officer of fintech and payments company Fiserv Inc., to be the commiss...
- + RBC invests in AI for productivity, analytics—Royal Bank of Canada is prioritizing investments in technologies like AI and gen AI to improve operations and drive customer engagement. The $1.4 tri...
- + Transactions: AWS to build AI-driven solutions for TP ICAP—London-based brokerage service provider TP ICAP is joining forces with Amazon Web Services to build AI-driven solutions as well as data and analytics ...
- + Scotiabank boosts tech spend 10% to $2.3B—Scotiabank is working with Google Cloud to drive customer engagement, deploy new technology and modernize its operations. Prioritizing cloud investme...
- + Podcast: AI for credit portfolio management—AI-driven risk management decisioning and monitoring platform EnFi is automating the credit approval process for financial institutions while maintain...
- + FIs look to UK, EU to prepare for open banking—U.S. banks are enhancing tech stacks with APIs, collaborating with vendors and drawing insights from the U.K.’s open banking rule to comply with the n...
- + The Clearing House’s RTP clears $500B—The Clearing House continues to scale its operations with its Real Time Payments network clearing $500 billion at the end of November. Scaling and m...
- + Instant payments ‘really kick up’ during holidays—The Clearing House’s Real Time Payments network is seeing growth in adoption and transaction volume as consumers, small- and medium-sized businesses a...
- + Fintech Funding: Anthropic raises $4B from Amazon—Global fintech funding remained subdued in 2024 due to major macroeconomic shifts and a change in investor outlook; however, many fintechs had success...
- + Transactions: Mastercard, JPMorgan team up on B2B efficiency—Mastercard’s Multi-Token Network team and JPMorgan’s Kinexys Digital Payments are working together to improve commercial transaction efficiency, accor...
- + Musk calls for abolishing consumer finance agency: ‘Delete CFPB’—Billionaire Elon Musk called for eliminating the Consumer Financial Protection Bureau, highlighting the renewed threat under President-elect Donald Tr...
- + Movers and Shakers: Citi Wealth names Eric Lordi head of platform and experience—Citi Wealth tapped Eric Lordi as head of platform and experience this month and he assumes the new role on Jan. 29, a Citi spokesperson told Bank Auto...
- + Academy Bank taps tech to boost Gen Z credit knowledge—Academy Bank Gen Z clients are reporting challenges with credit knowledge, and the bank is providing services to fill that gap. “With Gen Z becoming...
- + Arc CEO Muir to speak at Bank Automation Summit 2025—Don Muir, chief executive and co-founder of digital bank Arc, will return to the speaker faculty at Bank Automation Summit 2025, which will take place...
- + Self-service banking demand grows—Financial institutions are looking to NCR Atleos to automate traditional transactional banking services, freeing up staff and improving customer exper...
- + Open banking: Decoding Section 1033—Ten years in the making, the Consumer Financial Protection Bureau’s recently finalized open banking rule is making waves. The rule, Section 1033, was...
- + The Finastra breach: 3 security takeaways—Identity-based attacks are on the rise as evidenced by London-based tech provider Finastra’s cybersecurity incident reported this week. Finastra thi...
- + Inside look: Ally developing multicloud hybrid strategy—Ally Financial does not aim to be 100% cloud native — it is instead opting for a multicloud hybrid strategy. “We use cloud solutions where they make ...
- + FIs budget for next-gen MFA solutions for 2025—Financial institutions concerned about cybercrime will be investing in next-generation multifactor authentication solutions in the next year to combat...
- + Nvidia using AI to make AI chips—Chip making giant Nvidia is using AI software to make AI hardware to keep up with demand for custom chips as industry adoption of AI grows, including ...
- + Inside Varo Bank’s gen AI co-pilot build-out—Varo Bank is building generative AI co-pilots by tapping internal tooling and Amazon Web Services. The $486 million digital, cloud-first bank is usin...
- + Apple Pay, other tech firms come under CFPB regulatory oversight—The top US consumer watchdog will supervise Apple Inc. and other major technology firms that offer digital wallets and payment apps, finalizing a prop...
- + Transactions: Payhawk integrates with Mastercard—Payhawk, which provides spend-management solutions, is integrating with Mastercard to offer real-time visibility of card transactions to commercial cl...
- + 42% of FIs plan to invest in customer ID solutions in 2025—Financial institutions are prioritizing investments in digital solutions to combat cybercrime in 2025 as AI-powered fraud remains a growing threat. B...
- + Clearview FCU to save 6K working hours through RPA—Clearview Federal Credit Union has seen positive returns on its automation processes and aims to deploy AI to drive further efficiencies in 2025. The ...
- + Ally saves $30M annually through automation—CHARLOTTE, N.C. — Ally Financial is deploying AI to boost efficiency and modernize processes to improve customer experience. The $196 billion bank la...
- + TD tweaks time-to-market approach—TD Bank’s technology leaders have shifted the bank’s delivery and execution strategy over the past several months to improve time to market. The ban...
- + Fintech EarnIn sued by DC attorney general over 300% rates—Financial-technology firm Activehours Inc., which does business as EarnIn, lures customers in with false promises of an early payday with no mandatory...
- + Mastercard’s Tharani joins Bank Automation Summit 2025 speaker faculty—Sabrina Tharani, senior vice president of fintech and venture partnerships at Mastercard, will join the speaker faculty at Bank Automation Summit 2025...
- + 75% of FIs increased tech spend this year—Banks and credit unions prioritized digital integration in 2024, with 75% saying they increased their technology spend, according to a recent survey. ...
- + TD Bank’s cautious approach to fintech vetting—TD Bank must be pragmatic when vetting fintechs while considering its budget as well as what issue it is solving for. “We don’t have the same dollar...
- + Financial institutions gear up for a credit boom with AI—Financial institutions are bolstering their credit offerings to capitalize on lower interest rates. Card-issuing platform Marqeta is developing new s...
- + Transactions: Finastra’s Q3 wins, tech deals—U.K.-based fintech Finastra saw growth in digital service and the number of bank partners in the third quarter, as end-to-end digital capabilities rem...
- + Santander Commercial Bank to build on 2024 innovations—Santander Bank plans to build on its 2024 innovation efforts in 2025 following the launch of five digital cash management solutions for its commercial...
- + Citizens digital tools offer intuitive experience—Citizens Bank continues to focus on building out its in-house solutions, adding digital tools to help clients move toward more intuitive banking optio...
- + Just 40% of financial institutions satisfied with cloud investment—Many financial institutions are not satisfied with the investments made in their cloud infrastructure and are reconsidering those investments moving f...
- + Nvidia developing a full-stack gen AI strategy for FIs—Chipmaker Nvidia is executing a full-stack gen AI strategy to expand its services to the financial services industry, evidenced through its product la...
- + Grasshopper CTO Peter Chapman to speak at Bank Automation Summit 2025—Grasshopper Bank Chief Technology Officer Peter Chapman will speak at Bank Automation Summit U.S. 2025 in Nashville, Tenn. Chapman will speak on the ...
- + Transactions: Alkami’s recent wins—Texas-based fintech Alkami is seeing its network of bank partners grow. “In the third quarter, we signed nine new digital banking clients, including ...
- + Capital One, FIBT and Truist tap personalization for deposit retention—Banks are leaning on technology to provide personalized services to retain consumer deposits as the Federal Reserve shifts to lowering interest rates....
- + Podcast: From disaster recovery to IT resilience—Financial institutions are focused on IT resilience as outages repeatedly disrupt operations such as the ones that affected Crowdstrike, Bank of Ameri...
As of 12/26/24 8:10pm. Last new 12/26/24 10:44am. Score: 634
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