It’s interesting how people interpret things. Many think it’s old banks versus new banks; branch versus app; physical versus digital; government currencies versus cryptocurrencies; and more. For me, it’s not versus though. It’s and. We live in a world of transition where new and old banks work together well. My old bank does my boring……

Things we’re reading today include … Citi report reveals 42% of energy clients lack climate transition plans – FinTech Global Pastor created ‘worthless’ cryptocurrency targeting Christians to support ‘lavish lifestyle’: Authorities – ABC News (go.com) Bitcoin prices fall more than 7% as cryptocurrency market expected to remain volatile – UPI.com Lloyds Banking Group invests £3……

Certified service providers of the Federal Reserve’s FedNow network are looking to the cloud to streamline client onboarding and drive adoption of the payments rail.   Tech provider FIS is exploring cloud-based onboarding but hasn’t launched the capability, John Wilson, director and leader of real-time payment products and services at FIS, told Bank Automation News, noting…

The 2023 collapse of Silicon Valley Bank reminded fintechs and financial institutions of the importance of having a backup loan servicer in the case of a trigger event.  Examples of trigger events could include a bank collapse, a change in leadership or a servicer being unable to keep up with the level of collections needed…

Things we’re reading today include … Bank of England investigating claim Metro Bank put customers’ data at risk | The Guardian Are global bank capital rules possible? | The Asset Rakuten Could Combine Bank and FinTech Operations (pymnts.com) Pairing cryptocurrency mining with green hydrogen could boost deployment of renewable energy – MINING.COM Swiss banking giant……

Just been having a few meetings about the future of payments. Funnily enough, that sounds like the theme of my new book Intelligent Money. The message? Money is embedded, invisible and intelligent. It is ubiquitous, everywhere, anywhere. It is just part of the fabric of the world we live in. But then I thought further, talking……

Jefferson City, Mo.-based Central Bank is looking to data analytics and AI to provide customers with insights about their financial health and increase overall engagement.  “We have 7 million mobile banking logins a month on our platform, but the average time on the app is less than a minute,” Daniel Westhues, executive vice president of…

FTX co-founder Sam Bankman-Fried was sentenced to 25 years in prison for stealing billions of dollars from customers, marking the final chapter in a case that has upended the crypto industry. US District Judge Lewis A. Kaplan delivered the sentence in federal court in Manhattan moments after Bankman-Fried said he was “sorry about what happened…

Ally Financial named a new chief executive today, ending a three-month search. Michael Rhodes will take the reins of the bank April 29 and become a member of the board, according to an Ally release. Prior to joining Ally, Rhodes served as CEO of Discover Financial Services, which Capital One announced plans to acquire last month. He has 25…

In the banking industry, transaction monitoring stands as a critical pillar of defense against fraud, money laundering, and other illicit activities. While traditional methods have served their purpose, the landscape is evolving, demanding a more sophisticated approach. This is where machine learning emerges as a key driver, offering remarkable capabilities in transaction monitoring. Transaction monitoring…