Enjoy complimentary access to top ideas and insights — selected by our editors. Navy Federal Credit Union’s new credit-building partnership, a rash of cybersecurity breaches, the ever-growing presence of artificial intelligence in banking and other topics are dominant for bankers as summer approaches. Data breaches have become an especially problematic trend for banks in recent
If you asked the average person on the street if they would like their bank account data to be treated in the same way as data on Instagram or Facebook — that is, shared with advertisers, vendors and service providers — the response would be a resounding: “No! Absolutely not!” Yet every day, millions of
If a business wants to let a software program consume its banking data, it typically needs to go through a long series of processes, involving extensive paperwork and implementation, to do so. Citizens Bank is removing this pain point for its commercial customers by including them in the bank’s recently-launched open banking software. The trend
Endeavor Moore Media – stock.ado The U.S. Department of Justice has disbanded its National Cryptocurrency Enforcement Team, retrenching its approach to crypto. The Justice Department will move away from going after crypto cases it believes should be handled by regulatory agencies, Deputy Attorney General Todd Blanche said in a memo released Monday night. “The Department
Photographer: Gabby Jones/Bloomberg The investment fintech Robinhood is expanding further into the financial services space with an announcement of several new products for the company’s Gold members. Robinhood Banking, a new digital banking platform with both checking and savings accounts, was announced by the California-based trading app provider during a Robinhood Gold keynote event on
Mercury, a fintech that offers banking to businesses, has ended its relationship with its long-time partner Evolve Bank & Trust. Mercury will migrate its customers over to its other sponsor banks, Choice and Column. The move comes a few weeks after another Evolve partner, Dave, shifted its partnership with Evolve to Coastal Community Bank, and
Prometeo, a Latin American fintech, has launched what it calls “borderless banking” for business-to-business payments between the U.S. and Latin American countries. According to the company, Prometeo has developed middleware that integrates U.S. and Latin American financial infrastructures through a single application programming interface. Users can access local accounts to receive payments, automate collections, and
Bespin Global, an international cloud management and consulting firm for banks, is seeking to help U.S. banks build their open banking tech stack through a partnership with London-based Ozone API. The move comes as U.S. banks work to implement the open banking rule that was finalized by the Consumer Financial Protection Bureau last year. The