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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…

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…

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…

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.…