The real time payments network Zelle has added new tech partners to their growing network; partners include ACI Worldwide, CGI, D3 Banking Technology and IBM; the new partners will help to accelerate technology, reduce risk and control costs for Zelle as their payments network grows over time. Source.
Bank of America is the second big bank, following JPMorgan Chase, to announce a big expansion of branches; the bank plans to open more than 500 branches over the next 4 years and hire over 5,400 people; they also said they will redesign more than 1,500 branches with new technologies and layouts; the focus of the plan is to establish more branches in mid sized markets that are typically dominated by regional banks. Source.
In a Forbes column, the CEO and Co-Founder of Finix, talks about the need for regulators to create new rules...
OnDeck is one of the market's leading small business online lenders and they have taken an active role in industry self-regulation specifically around improved transparency for business borrowers; in their featured blog post they discuss the market's landscape and their lending technology partnership integration efforts; they also provide details on their involvement in developing industry best practices through development of the Association for Enterprise Opportunity and the Innovation Lending Platform Association; this involvement has resulted in the creation of the SMART Box which they also detail in their blog post. Sponsored Blog Post
The Office of the Comptroller of the Currency (OCC) has shifted back to a softer stance since the Trump administration took office; according to the New York Times the agency is using directives from the interim head to ease back regulations enacted during the Obama administration; the move is part of a wider push to set back financial regulations that some say have hurt banks in recent years. Source.
Square’s Cash App, PayPal’s Venmo and Zelle have all reached out to the government to lend a hand in getting...
There was a lot of fanfare and buzz surrounding Facebook’s Libra white paper but U.S. lawmakers were showing skepticism towards...
Bizfi, a small business lending platform, has hired John Donovan as its CEO; after working at Mastercard, Donovan had served in several Lending Club roles, including COO, through 2012; he has since served on various boards; Bizfi is on target to lend a cumulative $600 million by end of 2016. Source
IBM laid out plans last month on new AI guidance to ensure it is done in an ethical way; according...
This year’s Forbes 30 under 30 list features a diverse list of leading VC’s, crypto enthusiasts, fintech entrepreneurs and emerging...