For years, I’ve said that Big Tech will crunch the periphery of finance – payments, cards, credit and such like – but will not try and dig into the core of deposit-taking banking because it’s too regulated and difficult. Instead, they are far more likely to partner with banks than do banking. That view still……

For years, I’ve said that Big Tech will crunch the periphery of finance – payments, cards, credit and such like – but will not try and dig into the core of deposit-taking banking because it’s too regulated and difficult. Instead, they are far more likely to partner with banks than do banking. That view still……

Citizens Bank is investing in its API infrastructure, migrating operations to the cloud and teaming up with vendors to ready its operations for impending open banking regulations expected to be finalized in the United States in the fall.  “We have been investing in this for over three years,” Michael Ruttledge, chief information officer and head…

JPMorgan Chase & Co. is in discussions with Apple Inc. about taking over a credit card portfolio that rival Goldman Sachs Group Inc. has been trying to ditch. The biggest US bank is among a slew of credit-card issuers that have explored taking over the Apple card, according to a person familiar with the matter.…

Billing might not be something that the average person thinks about on a regular basis. But for companies — particularly those in the business of selling software — it’s massively important. They rely on billing systems to ensure that customers pay on time and have a range of ways to pay. The trouble is, configuring…

This week’s main blog discussions include …          What does Kamala Harris think of crypto? It seems weird to debate a US presidential election based on attitudes towards cryptocurrencies but, as previously blogged, Donald Trump is very pro-crypto. His attitude turned with NFTs of his image. Nothing like narcissism. Back then, I was blogging about Donald……

Banks and investors are evaluating AI-driven startups for long-term growth opportunities.   “Investors are keeping close tabs on AI-related innovation,” Isaiah Payne, managing director at investment banking firm Jackson Payne Investments, told Bank Automation News at Finovate Fall 2024.  Global AI funding hit a record high in the second quarter with a 59% increase quarter…

Citizens Bank has hired 750 engineers over the past four years to boost its in-house technology innovation capabilities.  The hiring has helped “us transform from being an organization [that] was heavily outsourced, to having a strong base of in-house engineers who have a problem-solving mindset,” Michael Ruttledge, chief information officer and head of enterprise technology,…

I’ve been talking about trust a lot lately, as that’s the basis of why you put money in a bank. You trust them. Why do you trust them? Well, it’s not because of their brand or their branch. It’s because they are licensed and promise to guarantee that they will not lose your money or,……

Things we’re reading today include … European governments offload €16bn of bailed-out bank stocks (ft.com) Top commercial lenders join G7 central bank-dominated digital currency trial | Reuters Metro Bank to cut hundreds of jobs as it pushes ahead with its £80m cost-cutting plan | This is Money Kearney: Digital-Only Banks Disrupt Loyalty in European Banking |……