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.…

Katharina Luschnik, vice president for product sales and open banking at Mastercard, will speak at Bank Automation Summit Europe 2024 about how to approach data quality.  The summit takes place Oct. 7-8 at Hilton Frankfurt in Frankfurt, Germany, bringing together industry experts to discuss bank automation, payments, AI and data. View the full agenda for…

The road from idea to market can be winding for a product, but tech provider nCino’s strategy is in high gear.  “It’s not just about what we’re hearing from our customers, but where do we think the market is headed and what is trending that the technology enables,” Sean Desmond, chief product officer at nCino,…

Financial institutions are investing in their mobile and digital experiences as consumers flock to online channels for self-service banking.   “Consumers are really demanding more and more and expecting that the mobile banking experience at their fingertips is largely the gateway into the relationship now with the [financial institution],” Allison Cerra, chief marketing officer at Alkami…

For those who are fans of Black Mirror, I just got news of the forthcoming Netflix Series 7. As usual, it is a dark anti-tech futuristic vision, but I was particularly intrigued by the script of Episode 3: the Trust Token*. The theme is that, in the near future, as Earth globalises and integrates, we ditch……

Things we’re reading today include: The bank of Starbucks: Coffee retailer has $1.77 billion in unredeemed gift cards – MarketWatch Big UK banks need to do more to be ready for potential failure, says Bank of England | Banking | The Guardian SEC investigating Wall Street banks over ‘billions’ in lost interest payments (ft.com) Revolut……