Technology

As new CEO Alex Chriss streamlines the payment company's strategy, 2024's first major product rollout stresses data-driven, personalized connections between merchants and consumers.

The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial technology firm that processes trillions of dollars of securities-lending transactions every month.  

Charging a nonsufficient funds fee on a debit, ATM or peer-to-peer payment that gets declined immediately would be considered "abusive" under a proposed rule from the Consumer Financial Protection Bureau.

The digital financial services firm announced layoffs Tuesday, with the goal of keeping the company steady until conditions improve for its business users.

Mike Abbott, global banking lead at Accenture, shared where he sees banks using the technology most effectively in the year ahead.

Inter&Co, a financial superapp provider based in Brazil, has bought the naming rights of a major U.S. stadium.

Bank regulators Friday said the existing laws governing safety and soundness and fair lending are adequate to address risks posed by artificial intelligence, noting that while AI may be used to inform lending decisions, banks are ultimately responsible for compliance.

When Gensler arrived at the SEC in 2021, he took on just about everything. Rules for stock-market trading, Treasury-security clearing, executive-pay disclosures, private equity, crypto, short-selling, climate-change risks, even AI: nothing seemed off limits. But now, three years later, to Big Finance, the verdict is clear: Gary Gensler overreached.

The new service will allow financial institutions to streamline the process for moving accounts and verifying income.

Companies like NCR Voyix, Salesforce and Sainsbury's are keen to deploy technology that used to be science fiction — such as scanning a shopper's eyes to access their accounts, or using AI to streamline checkout.