Technology

The online lending marketplace provider now has the support of Jonathan L. Jackson, an Illinois representative. It's also facing lawsuits from the CFPB and customers.

Through a multiyear agreement, Citigroup is cloudifying the way it delivers software to employees, customers and its markets business.

Alex Chriss says the impact of new payment innovation and strategies at units like Venmo and Braintree will take time.

Community banks will have to pay more, get creative and train from within to build robust banking-as-a-service divisions that can withstand higher regulatory standards.

Payment professionals expect physical cards to stick around for the foreseeable future, even as mobile wallets gain traction.

Banks' compliance teams have often been the source of innovative technologies with applications far beyond financial services. That is likely to hold true with artificial intelligence-related compliance solutions.

The credit union has been using Upstart's AI-based loan decision model to help creditworthy consumers consolidate their credit card debt.

The card lender took full control of Swisscard from UBS; the Financial Conduct Authority is bringing installment lending regulations in line with other consumer financial products; and more payments news from around the world.

Consumer Financial Protection Bureau Director Rohit Chopra said opposition to the bureau's recently finalized open banking rule should be viewed as banks and other large firms attempting to quash competition and stymie consumer data protection.

McKinsey published a report Wednesday that found banks' technology investments equate to the gross domestic product of Sweden. But this spending is not leading to revenue growth, they and others say.