Technology

After shoring up infrastructure following the scuttled TD Bank acquisition, the Memphis, Tennessee-based institution plans to focus more on mobile banking and new product innovation.

The order calls on federal agencies to support more forms of digital identity documents and could lead more states to adopt digital driver's licenses.

Cash App's parent company Block failed to investigate fraud and unauthorized transactions, and refused to refund customers, the Consumer Financial Protection Bureau said.

The $678 billion-asset bank highlighted its payments and investment management and trust business as fee generators in the recently ended quarter.

Chief Innovation Officer Don Relyea and Head of Applied Foresights Todder Moning described what interested them at this year's Consumer Electronics Show, and which technologies are getting close enough to become bank-ready.

The bank, which owns a minority stake in Viva Wallet, can take over the company in June if its valuation falls before a certain level — which has resulted in a legal dispute with Haris Karonis, the fintech's owner. That and more in American Banker's weekly global payments roundup.

Banks must comply with a European Union law known as DORA by Friday. The law aims to improve cybersecurity and reduce tech failures in financial services.

At banks like Citi and SouthState, generative AI models are put through additional rounds of testing before they make it into the pilot stage.

Simon Paris, outgoing CEO of Finastra, is moving to Unit4 in February.