Banks and credit unions are using data-driven insights to diversify their offerings, create personalized experiences and grow their operations. Use of data-driven insights is one of three strategies banks and credit unions are investing in to create digital organizations, according to tech provider Alkami’s 2025 Digital Banking Playbook, released Oct. 9. “Customers are just…
Scotiabank is exploring the use of AI and generative AI to bolster its cybersecurity infrastructure and aims to work with vendors to develop the technology. Google Cloud is in the running to partner on the tech, Louise Dandonneau, vice president of cybersecurity operations, told Bank Automation News. “We have announced our partnership with Google Cloud,…
Toronto-Dominion Bank will plead guilty to money-laundering charges, a US Department of Justice prosecutor said in a Newark, New Jersey, courtroom on Thursday. Two of the bank’s US subsidiary units intend to enter guilty pleas, the prosecutor said during a hearing before a US District judge. The charges include failing to maintain an adequate anti-money…
Aly Soliman The insurance industry, sometimes perceived as slow to innovate, might witness a major transformation. Blockchain technology, known for its secure and transparent digital ledger, has the potential to revolutionise traditional insurance operations. This shift could potentially streamline processes, introduce new insurance models and products, and help manage emerging risks better. But what does…
Global venture capital funding took a hit in the third quarter, but AI startups accounted for 31% of all global funding. Venture capital funding for startups globally dropped 21% year over year to $54.7 billion in Q3, according to CB Insights’ State of Venture Funding Q3 report, published Oct. 3. “This is surprising, because we…
Payments platform PayNearMe announced Oct. 3 that it will integrate PayPal’s full-stack processing capabilities into its platform. “Reliability is of utmost importance to PayNearMe, and PayPal’s full platform gives access to multiple money movement capabilities supported by numerous banking partners,” John Minor, executive vice president and chief product officer of PayNearMe, told Bank Automation News….
Gabija Zemaityte The Tony Blair Institute for Global Change, among others, has argued that long-term fixed-rate mortgages (LTFRMs) could increase home ownership in the UK. The share of mortgages with longer fixes increased in the UK and internationally over the last decade. Persistently low interest rates over that period have supported demand for longer-fix products,…
Bank Automation News is pleased to announce that Bank Automation Summit U.S. 2025 will be held March 3-4 at the Hilton Nashville Downtown in Nashville, Tenn., providing attendees with insights on how financial institutions are benefitting from investments made in AI technology, teams and resources. The event brings together C-suite executives and industry experts to…
U.S. banks are investing in health care payments technology companies to diversify revenue. The points of convergence between fintechs and healthtech companies are increasing, especially in the United States. Employing fintechs with billing or insurance capabilities, for example, can limit middlemen and costs in the health care payments system, Asaf Charnilas, principal investor at Tel…
Bank of America depends on client feedback when approaching innovation. “We’re always gathering feedback from our clients to understand what their emerging needs are, and if there is a solution that we need to develop to help address those needs,” Mary Hines Droesch, head of product for consumer, business and wealth management banking and lending…
