Technology

A "spike in unusual traffic" caused service degradation for the infrastructure giant, disrupting digital banking for customers.

The financial services firm based in Houston tried to buy a Chicago community bank three years ago as part of a plan to offer traditional banking and digital asset services on one platform. With Illinois state approval secured, it now awaits a decision from the Fed.

The bank is adding trusted contacts, specialized teams and new tech against scams, but consumer advocates say reimbursement is the key missing piece.

Artificial intelligence is bringing revenue increases and expense reductions throughout Bank of America, Hari Gopalkrishnan, chief technology and information officer, said at an event Monday.

The payments fintech recently introduced AI agents to its lineup of products banks and credit unions can pick from and add to their existing technology stacks.

Haiqu's new encoding technique allows quantum computers to process high-dimensional financial data, showing improved performance in spotting anomalies.

The Virginia-based bank had been an example of what can go wrong when banks partner with fintechs. After being released from an OCC enforcement action, Blue Ridge is now focused on operating as a traditional community bank, said CEO Billy Beale.

The payments company is expanding the transfer app in an effort to entice more consumers to use the service as their primary banking relationship

Customers of fintechs like Yotta and Juno, who in some cases lost their life savings, may start to get reimbursed out of the agency's Civil Penalty Fund, but no timeline has been announced for repaying them.

Too often, small fintechs working to bring innovative technology online in the U.S. determine that they would be better off overseas. Regulators should copy existing "sandbox" models to keep them here.