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PNC Financial worked to expand to new markets and grow its digital platforms in the first quarter.  The bank listed three long-term efforts in its 2023 annual report:  Expand the bank’s franchise and digital channels;  Leverage technology to create efficiencies that help better serve customers; and  Deepen customer relationships by offering superior banking experiences and…

Morgan Stanley is looking to the strong merger and acquisition market as an opportunity to launch tech-driven tools that help its bankers and advisers make decisions.  The wealth management company wants to use tech to help its bankers take advantage of the M&A wave, Chief Financial Officer Sharon Yeshaya said during the bank’s first-quarter earnings…

Bank of America’s digital offerings continue to be a draw, as its virtual assistant Erica reached 2 billion user interactions in the first quarter.  “Erica continues to drive increased digital engagement, in part because it gives us the ability to deliver important information to clients and answer their questions in real-time,” Jorge Camargo, managing direct…

Things we’re reading today include … HSBC’s Zing has less than 20% of Wise’s monthly downloads – but CEO insists it’s ‘bang on plan’ | Sifted Bank of America profits plunge 18% due to rise in customer credit card delinquencies | Daily Mail The Bank used inflation forecast based on pencil drawing, says Andy Haldane……

The bank that wants to verify my identity but cannot accept the information … OMG, what’s going on? Under new UK government rules, there’s been a crackdown on money laundering and customer identity in the banking system. The response of the banks has been archaic to say the least. By way of example I blogged……

The African tech ecosystem, buffeted by huge potential but also lots of economic, political and social instabilities, is no stranger to major drama affecting even its most promising-looking startups. But recently, LemFi, the Nigeria-based fintech that provides money transfer services to African migrants, is shaping up as an example of a bounce-back — and a…

Klarna is launching its credit card in the United States, the Swedish fintech giant told TechCrunch in an exclusive interview. “It was one of our most asked for products,” said David Fock, Klarna’s chief product and design officer, “and will allow people to pay in the Klarna way but with a card.” By “Klarna way,”…

Business banking startup Mercury, founded in 2017, is now launching a consumer banking product. Mercury today serves more than 100,000 businesses, many of which are startups, via its B2B practice. The expansion is a natural move for the company and one that has been in the works for a couple of years, according to Immad…

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon makes no secret that his firm is all-in on artificial intelligence. Now, the head of the world’s biggest bank is laying out his vision for the future of money in an AI world. Will you be able to turn to the bank’s future chatbot—let’s call it ChatJPM—and…