Bankers and aggregators disagree on data-sharing approaches
The parameters around how consumer financial information should be shared with third-party apps and platforms was the subject of debate...
Risk & Security
Varo’s bank charter process a test for consumer banking startups
This week, digital banking startup Varo received approval from the Federal Deposit Insurance Corporation, a significant milestone in the company’s...
Brainard says Fed studying potential for US digital currency
The U.S. central bank is studying the feasibility of a digital currency, said Federal Reserve Governor Lael Brainard. “Given the...
CFPB sues Citizens Bank for failing to respond to credit card disputes
This week, the Consumer Financial Protection Bureau filed suit against Citizens Bank, alleging violations of the Truth in Lending Act...
Industry consortium on financial data sharing adds 25 new members
The Financial Data Exchange, an nonprofit industry consortium dedicated to unifying the financial industry around a common standard for secure...
Why a community bank in Missouri is investing in core banking startup Neocova
For Brice Luetkemeyer, president and CEO of Bank of St. Elizabeth, a Missouri-based community bank with $150 million in assets,...
Payfone partners with TransUnion to identify bank customers
Consumer credit reporting agency TransUnion has been named as the primary data provider for Payfone, which provides mobile and digital identity authentication solutions to top U.S. financial institutions. The partnership will...
Temenos to help US clients launch digital banks in 90 days
The race to create a challenger bank just got more competitive with a ready-made solution from core provider Temenos that...
Fed: Big bank cyberattack could have serious spillover effects
A cyberattack on a major U.S. bank could have network effects that could cripple the financial system, a report from the Federal...
Banking licenses an opportunity to create fintech hub in Singapore
Singapore is becoming a haven for e-commerce companies looking to get into banking in Asian markets. In 2019, the Monetary...
