Author: hjenkins42

The Bank Automation Summit Fall 2022 agenda is set, with sessions on developing for the cloud, embedded finance and robotic process automation (RPA) governance. The September event also features a greater focus on networking and peer interactions, including a roundtable discussion on automation, innovation and budgeting strategies. Photo by CanStock Bank Automation Summit Fall 2022…

Citi is furthering its “technology for good” focus, deploying two tech leaders to serve as chief technology officers at minority-owned community banks and turning to open banking in its diversity, equity and inclusion (DEI) efforts. The initiative, announced today but enacted earlier this month, saw Abhijit Bhattacharya, Citi director of engineering and partnerships, join $187…

Core and digital banking solutions provider Jack Henry is adding real-time fraud and anti-money laundering (AML) solutions to its software stack to keep up with continuing growth — and a range of fraud — in digital payments. The company has taken on the new fraud and AML solutions because of the speed they can achieve,…

Bitcoin is the disruptive third wave of Fintech: Wave 1 was adding a better front end UX to legacy systems, with a natural exit to legacy finance for not big sums. Wave 2 was a full stack regulated threat to legacy finance. Once again the natural exit was to legacy finance, but for much bigger sums than…

TechCrunch and Pitchbook are reporting that HR innovator Gusto has raised an extension on its Series E round. The company’s Series E round, launched in 2021, was led by T. Rowe Price Associates, and totaled $175 million. The amount of the extension was not disclosed, but it is believed to be in the neighborhood of…

Jack Henry announced at the company’s investor conference last week that it is integrating elements of its digital banking repertoire into its core solution set, including a conversation tool from the company’s Banno Digital Platform that “goes beyond” artificial intelligence (AI)-based chatbots. Banno Conversations is a securely authenticated conversation solution that connects banks with their…

When one doctor’s office switched to virtual office visits during the COVID-19 pandemic, nurses were given iPads and sent into private rooms to connect with patients over Zoom, then waited for the doctor to make his rounds to each iPad. While this example of an effort at digitization appears quaint, it exemplifies the perils of…

Cybersecurity approaches in the U.K. and Europe provide learning opportunities for U.S. banks, despite major differences in regulatory and business structures. Following are three cybersecurity tactics that are working in the U.K. and Europe: 1. Mandatory multifactor Multifactor authentication (MFA) has been much maligned by banking customers for its clunkiness and relative inconvenience. However, mandatory…

Open banking expert Token landed a $40 million Series C investment. The round, which was co-led by Cota Capital and TempoCap, boosted the company’s total funding to $90 million. Among Token’s clients are BNP Paribas, HSBC, Mastercard, Nuvei, Paysafe, Ecommpay, Rewire, Coingate, Sonae Universo, Volt, and Vyne. Open banking innovator Token.io closed a $40 million…