Application programming interfaces allow software programs to talk to each other. They are a potential solution to the current industry standoff over sharing of bank customer data with aggregation sites; in the long term, they could transform how banking is done, making customer relationships less sticky but opening up new revenue models for financial institutions. This paper lays out the basic issues surrounding APIs.
BNY, Huntington Bank, U.S. Bank, American Express, Visa, Mastercard, Stripe, and Coinbase are just a few of the companies that have signed on to use the dollar-backed stablecoin issued by technology firm Open Standard.
Securities and Exchange Commission Chair Paul Atkins said tokenized bank deposits are likely to be a reality in 2027, and added that he is working with banking agencies on digital assets and capital requirements.
After two different community bank M&A deals, Flagstar Bank consolidated its data centers from six facilities to two as part of its tech integration strategy.
The bank deepened its relationship with Circle Internet Group, letting institutions store, transfer, mint and burn USDC.
As a subsidiary of Bank of America, Merrill uses a BofA software program to monitor and report suspicious activity. For years, the Securities and Exchange Commission says, that program fell short.
The Federal Deposit Insurance Corp. says executives "gambled" with depositor funds, while the former parent company argues regulators are using hindsight to second-guess what were reasonable business decisions at the time.
