Thirty years ago, I presented at a conference with the theme being the end of cash. Thirty years later we are all gradually going cashless. Twenty-five years ago, I presented at a conference, with the view that bank branches weren’t needed. Twenty-five years later, most bank branches are going, going, gone. Twenty years ago, I……

NASHVILLE, Tenn. — Wells Fargo is amping up its artificial intelligence project pipeline.  The bank has 191 AI, machine learning and natural language processing features in the pipeline, with nearly half already in production,  Steve Hagerman, chief information officer of consumer technology at Wells Fargo, said at Bank Automation Summit 2024 on March 18. For…

NASHVILLE, Tenn. — BankUnited has deployed an AI chatbot to help employees search for information and procedures internally. The deployment was disclosed March 18 by Michael Lehmbeck, chief technology officer for Miami Lakes, Fl.-based BankUnited, at Bank Automation Summit 2024, presented by Bank Automation News. “If you’ve got a question around how to open a…

Fintech exploded over the last five years. Startups in the category raised more than $350 million in VC funding from 2019 through 2023, according to data from CB Insights. Despite all that growth, Eric Gylman, the co-founder and CEO of Ramp thinks that the industry, and companies like his, are just scratching the surface. Glyman…

Payments company Nala pivoted to offer remittance service in 2021, tapping the growing money transfer market in Africa, and demand for reliable and affordable services. Nala founder, Benjamin Fernandes, said they intended to build their products on this premise right from the outset. Over the last two years, the Tanzanian fintech, through its consumer fintech…

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…