Technology

The first U.S. bank to offer an exchange-traded product tied to bitcoin saw $34 million in trading on the first day.

The fintech rolled out Intelligent Money Movement, a treasury service that combines payments, liquidity management and disbursements as it looks to capitalize on its multiple banking licenses.

Most banks are likely not large enough to not support stablecoins and tokenized deposits on their own, creating a new way for legacy IT firms to compete with fintechs.

The payments processing firm recently filed for Chapter 7 bankruptcy with a nearly $3 million disputed charge owed to a subsidiary of Global Payments.

On-chain infrastructure is making idle balances obsolete. The OCC needs to act before banks lose the ability to compete in a market where consumers no longer tolerate below-market-rate returns.

Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.

The card brand introduced tech for businesses to tap agentic AI, while Revolut counters Italy's accusations of inaccurate marketing. That and more in the American Banker global payments and fintech roundup.

Closing its Brex acquisition adds a corporate-focused fintech and new agentic commerce tools to an already considerable consumer payments division.

American Banker data found that those who upped artificial intelligence spending by more than 25% in the last year saw major improvements in employee output.

Banks' core ledger systems are a sclerotic holdover from the past. The future belongs to the banks that set them aside and allow transactions to close in real time.