Banking

Bank of America on Dec. 10 revealed that its CashPro App will surpass $1 trillion in payment approvals by yearend — up 25% from 2023. December is likely to see the highest volume of payment approvals due to holiday shopping and travel, according to a release from the $2.5 trillion bank. CashPro App launched in…

ConnectOne Bank is finalizing the implementation of technology by account origination solutions provider Mantl and commercial escrow and sub-account system ZSuite.  “With each implementation, production testing is our final step,” ConnectOne Chief Digital Officer Ali Mattera told Bank Automation News. “While the product[s are] live, we still move through a phase of testing, engaging a…

Royal Bank of Canada, TD Bank, National Bank Canada and Scotiabank spent close to CA$1.8 billion ($1.3 billion) integrating the tech stacks of their recent acquisitions with their existing tech stack in 2024, according to the banks’ earnings reports.  Merging tech stacks is capital intensive and complex, and is often compared to “high-risk brain surgery,”…

Valley Ventures, the investment arm of Valley Bank, invests in fintechs that can be integrated into its operations.  Nearly 50% of the fintechs Valley Ventures invests in are used by Valley Bank or its commercial or retail clients, Izge Cengiz Ercan, director of product innovation at $62 billion Valley Bank, told Bank Automation News. The…

Bank Automation News is pleased to announce that Sumeet Grover, chief digital officer at Alliant Credit Union, will be featured in a fireside chat at Bank Automation Summit 2025 on Tuesday, March 4, at 9:45 a.m. CT.  The summit takes place March 3-4 at the Hilton Nashville Downtown in Nashville, Tenn., and brings together industry…

Ali Mattera, chief digital officer at ConnectOne Bank, is driving bankwide digital innovation.  “By aligning our technology strategies with the bank’s overarching goals, I address the challenges of legacy infrastructure while shaping the path to implement cutting-edge solutions,” Mattera told Bank Automation News.  Ali Mattera, chief digital officer, ConnectOne Bank In an interview with BAN,…

The Clearing House raised the transaction limit on its Real Time Payments network to $10 million, opening the door for new uses of the rail for commercial transactions.   The Clearing House (TCH) expects to see growth in volume and use cases, Jim Colassano, senior vice president of product development at TCH, told Bank Automation…

TD Bank is investing in technology for anti-money laundering compliance after the U.S. Department of Justice fined the bank $3 billion in October for money laundering.  “This quarter, we implemented further improvements in transaction monitoring and refinements in our customer risk rating methodology,” Chief Executive Bharat Masrani said during the bank’s fiscal fourth quarter earnings…

Bank of Montreal continued to invest in modernization tapping data, analytics and AI.  “Across our businesses, we advanced our digital-first strategy, powered by AI data and technology modernization, to drive tangible customer and business value,” Chief Executive Darryl White said during today’s earnings call.   In Q4, ending Oct. 31, the $1 trillion bank recorded these…

President-elect Donald Trump is nominating Frank Bisignano, the chief executive officer of fintech and payments company Fiserv Inc., to be the commissioner of the Social Security Administration. “Frank is a business leader, with a tremendous track record of transforming large corporations. He will be responsible to deliver on the Agency’s commitment to the American People…