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KeyBank invests in Billtrust, launches AR platform

KeyBank

KeyBank is putting its money where its mouth is. The bank isn’t just partnering with fintech companies, it’s also investing, reports Banking Technology‘s sister publication Paybefore. The Ohio-based bank is putting an equity investment in Billtrust, a pioneer of payment cycle management solutions, and launching KeyTotal AR (augmented reality). Terms of the investment were not disclosed, […]

Fintech layoffs round-up: 18 August 2017

FSB: fintech brings risks and benefits

A distinctly cheerless round-up as we highlight some key moments regarding fintech layoffs. Features Simple and Royal Bank of Scotland (RBS). US-based digital banking service Simple has fired 33 staff members (about 10% of its workforce), including several executives, according to The Oregonian. Simple’s CMO, chief people officer, VP of operations, and VP of engineering […]

LendingRobot joins NSR Invest to form biggest roboadvisor in marketplace lending

LendingRobot 1

P2P lending roboadvisor LendingRobot will join NSR Invest, creating what it calls “the largest independent roboadvisor in the alternative lending space”, reports Finovate (Banking Technology‘s sister company). LendingRobot explains in its blog that the “websites, operating, and trading systems” of each platform will continue to function as usual for the time being as the companies prepare […]

Jemstep the right roboadvisor step for KeyBank

KeyBank

When roboadvisor firm Jemstep was acquired by investment management company Invesco a year and a half ago, Invesco CEO Martin Flanagan highlighted the importance of combining technology and human insight to produce better investment outcomes for customers. Now Jemstep has partnered with KeyBank’s Key Investment Services (KIS), to provide another opportunity for Invesco’s roboadvisor to […]

US Senator questions big banks on CFPB arbitration

Too much debt

As expected, US Senator Elizabeth Warren (D-Massachusetts) is not going to let the Consumer Financial Protection Bureau’s (CFPB) final rule on arbitration agreements go down without a fight. The ranking member of the Senate Banking Committee’s Subcommittee on Financial Institutions and Consumer Protections wants big banks – not just their lobbyists – to address the […]

Urban FT throws Digiliti Money a life raft

Financial trouble in fintech paradise

Digiliti Money may be able to breathe a much-needed sigh of relief after a tumultuous few weeks, including declining revenues, appointing an interim CEO and the delay of its Q2 earnings report, writes Banking Technology‘s sister publication Paybefore. The Minneapolis-based company, which sells mobile financial services app technology, has an offer on the table from […]

Samsung to power biometric authentication pilot for Bank of America

samsung 1

Samsung will launch a pilot programme that enables Bank of America (BofA) customers to log into their mobile banking app by taking a picture of their eye, reports Finovate (Banking Technology‘s sister company). According to a report from American Banker’s Penny Crosman, half of BofA’s customers are using fingerprint authentication to log into their app, […]

Swift teams with TCH to drive instant payments in US

New addition to Swift's network

Hot on the heels of the US Fed’s Faster Payments Task Force final report and call for the industry to implement faster payments in the US by 2020, Swift is offering a gateway, reports Paybefore (Banking Technology‘s sister publication). The global financial messaging provider says it will provide US institutions with a gateway to The […]

Behalf and FinWise Bank team to boost SME lending options

FinWise Bank and Behalf team up

Utah-based FinWise Bank, a subsidiary of All West Bancorp, has partnered with alternative small business lender Behalf.

SEFCU outsources core processing to Fiserv DNA

SEFCU swaps in-house legacy tech for Fiserv

SEFCU, a top-50 credit union in the US, is modernising its core processing software with Fiserv.

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