Technology

The BNPL industry is growing at a fast clip. Australia-based Zip's new CEO for U.S. operations is looking to carve out a place in what is becoming a crowded industry with expanded merchant partnerships and a Pay-in-8 product.

The company, which counts JPMorgan Chase and TD Bank Group among its customers, has also appointed a new executive chairman.

The Federal Deposit Insurance Corp.'s proposed rule aims to improve record keeping for custodial accounts, while the merger policy would increase regulatory scrutiny for combinations involving the largest banks.

The comments came during a two-hour chat on X Spaces in which Trump and his sons offered a decentralized finance company as an answer for the de-banked.

St. Mary's Bank in New Hampshire tries to serve members as it has for 116 years, while dealing with today's cybersecurity and fraud concerns.

The company, a pioneer in AI-based lending, says improvements to its models and long-term commitments from the banks it works with will bring about positive returns in the third and fourth quarters. 

Artificial intelligence is going to be integrated into the financial system. So, banks need to be clear-eyed about its potential dangers, and proactive about avoiding them.

Community bankers have found that demonstrating efficiency, providing proper training and describing use cases can help get employees on board with AI products.

At a New York event, industry practitioners shared how they are addressing cultural, compliance and logistical objections to making loans based on bank account data.

The bank's acquisition of embedded finance firm Rize Money and collaboration with open banking firm Trustly will enable the bank to grow real-time processing, account-to-account transfers and address emerging compliance challenges.