The U.S. Federal Reserve’s FedNow platform has exceeded expectations in its first year, expanding its reach to 10% of financial institutions, so far.   FedNow is expanding its reach to financial institutions on the network and volume is expected to follow in the coming years, Kristin Robertson, director of account management at fintech Finastra, told…

ClearBank Ltd. said it received a banking license allowing the fintech to offer real-time clearing and settlement services to clients across Europe, marking the UK company’s first step toward global expansion. The European Central Bank authorized the permit, under the supervision of De Nederlandsche Bank, ClearBank said in a statement Friday. The license allows the…

TD Bank largely innovates based on customer feedback and lately it has discovered an opportunity for larger companies to use its Tap to Pay for iPhone offering.   “There’s so much opportunity from a tap-to-pay solution perspective,” Paul Margarites, head of commercial digital platforms at TD Bank, told Bank Automation News.  Apple launched Tap to…

I found it fascinating to spot this TikTok interview highlight with Ford, the car company, CEO Jim Farley explaining the challenge they have with software updates. @howtoactuallyinvest Ford CEO explains why Tesla’s vertical integration strategy is EVERYTHING #tesla #tsla #ford #evs #investing ♬ 10 minutes ・ Echo ・ Ambient ・ Meditation ・ Universe(952473) – Gloveity……

Things we’re reading today include … Barclays becomes first UK bank to lift cap on bonuses | Barclays | The Guardian Goldman Sachs CIO on How the Bank Is Actually Using AI – Bloomberg Russia legalizes Bitcoin and cryptocurrency mining (cointelegraph.com) What Is Bitcoin’s Layer 2 Full Potential? – TheStreet Crypto-Friendly Bank Ordered by U.S….…

In 1996, two companies, Patersons HR and Payroll Solutions, formed a venture called CloudPay to provide payroll and payments services to enterprise clients. CloudPay grew quietly over the next several decades, adding workflow automation features to maintain pace with upstart rivals. It’s still growing, CFO Andy Thomson assures TechCrunch. Thomson claims that CloudPay is handling…

TD Bank is taking a conservative approach to AI for consumer-facing operations as it taps the tech for back-end efficiencies.  “We are very knowledgeable about the benefits of the AI and what that might bring,” Christopher Fred, head of U.S. credit cards and unsecured lending at TD Bank, told Bank Automation News. “We are looking…

Payments fintech Marqeta saw growth in its total processing volume during the second quarter as consumer demand for non-traditional banking and digital banking channels increased.  According to Marqeta’s July State of Payment report, which surveyed 4,000 consumers in June, 63% of consumers between 18 and 34 years old said they would be open to banking…

Truist is tapping Wells Fargo CIO of Consumer Technology Steve Hagerman to fill its chief information officer role.   Hagerman was the “right person at the right time for our enterprise technology team,” a Truist spokesperson told Bank Automation News, noting that selecting a new CIO was a “thorough process.” The announcement, made today, follows…

Standard Chartered Plc will take a stake in United Fintech Group, becoming the fourth large bank this year to invest in the London-based company as it negotiates new acquisitions to serve the capital markets industry. Standard Chartered will get board observer rights and may later receive a rotational board seat, the two companies said on Thursday.…