Things we’re reading today include … Commercial Bank of Ethiopia glitch lets customers withdraw millions – BBC News Fintech collects almost 40% of last week’s €672M invested in European tech – Tech.eu Banks Invest in United Fintech as Digital Transformation Gap Widens – Traders Magazine UK fintech start-up Silverbird enters special administration – FinTech Futures:……

Way back in 2012, I invested £1,000 in bitcoins on Mt.Gox, the Japanese-based exchange that was the most popular platform at that time for trading in said currency. Then they got hacked and went bankrupt in 2014. You may remember but, just in case: Launched in 2010, it was handling over 70% of all bitcoin……

Nashville, Tenn. — Arc Technologies charted a 12X increase in loan originations year over year in 2023, as it gained customers and deposits when businesses looked to pivot to new banking partners after the collapse of Silicon Valley Bank. One year after the banking crisis, digital bank Arc is on track for “billions in deposits…

NASHVILLE, Tenn. — Wells Fargo has created a generative AI council within the organization to study implementation, development and deployment of gen AI. Steve Hagerman, chief information officer of consumer technology at Wells Fargo, said today during Bank Automation Summit 2024 that the bank’s gen AI council consists of five bank leaders: People officer;  …

Miami-based Onyx Private, a Y Combinator-backed digital bank that provided banking and investment services for high-earning Millennials and Gen Zers, is terminating its bank operations. In a March 13 email to a customer viewed by TechCrunch, with a subject line that read: “Important Notice: Termination of Bank Operations and Account Closure” Onyx wrote, “We are…

NASHVILLE — Bank Automation Summit U.S. 2024 kicks off today with panelists from BankUnited, Fifth Third Bank and Wells Fargo taking the stage to discuss today’s AI revolution in banking at the Omni Nashville in Nashville, Tenn.  The two-day event is packed with panel discussions, presentations and networking opportunities, and will be highlighted by a…

AI has landed for the consumer. It’s no longer a topic for data scientists and IT alone. But what is Generative AI? Equally as mystifying is Process Intelligence – a complex subject, frequently hidden behind the process expert wisdom. So, how can department and functional leaders, from risk to operations to IT, leverage AI and…

A long time ago, before most of you were born, I worked with Dr. An Wang, a visionary. Wang created Wang computers, a company that blossomed quickly into a global firm thanks to word processing. Word processing? Yes, word processing. What it allowed was the replacement of typewriters with computers, and companies loved it because……

Things we’re reading today include … Millions more in cash needed to fund UK’s open-banking watchdog | Banking | The Guardian Over a third of first time buyers relying on ‘bank of mum and dad’ | Housing | The Guardian Bitcoin Bulls vs. Bubble Bears: A Cryptocurrency Clash (cryptotimes.io) The evolving relationship between supermarkets and……

This week’s main blog discussions include … How the Wirecard story unravelled: an interview with Dan McCrum who broke the truth I’ve been following Dan McCrum, the investigative journalist with The Financial Times, for quite a while. He’s the guy who broke the Wirecard story, even though it could have meant quite a lot of……