Category: digital currencies

The collapse of Silicon Valley Bank opened a door of opportunity for fraudsters to take advantage of bank clients who have recently moved money or switched bank accounts — and banks are warning their clients to be cautious. Fraud prevention fintech CertifID has reported an 18% increase in fraud cases since March and has protected…

This is a sponsored blogpost by JRNI. We are in an environment of rising interest rates that will materially impact how financial institutions compete for customers. Banks and credit unions will have to embrace product innovation and relationship building as they refocus on deposit and lending services. Customer engagement will play a critical role in…

One of my biggest takeaways from my conversations about digital assets with delegates at FinovateEurope last month was the idea that new use cases will be among the first signs that the industry has emerged from so-called “crypto winter.” That bar is likely years away from being cleared. In the meanwhile, crypto exchanges continue to…

Regions Bank is trimming expenses to make up for its technology transformation enhancements. The $154 billion bank is considering expense reduction in salaries and benefits, number of employees, process improvement, leveraging technology where possible and reevaluating the bank’s need for square footage, David Turner, senior executive vice president and chief financial officer, said today during…

Discover Financial Services increased its technology spending 31% last quarter to focus on four areas of investment: machine learning and AI, core systems, and network and compliance management systems. The company made the disclosure during its first-quarter earnings report released Thursday. Discover spent $232 million on technology and consulting expenses during the quarter, according to…

Huntington Bancshares continued its efficiencies push during the first quarter, saying it plans to keep expenses at a 1% to 3% increase over each quarter to offset upcoming economic uncertainty. THE BIGGER PICTURE: The $189 billion bank’s noninterest expenses increased 3% year over year to $1 billion, according to the bank’s earnings supplement. Huntington has…

KeyBank is on track to cut costs in 2023 as the bank worked to make room for investments in customer acquisition technology and embedded banking in the first quarter. In Q1, KeyBank’s noninterest expenses increased by 4% to $428 million, according to the bank’s earnings supplement. However, the slight increase does not seem to affect…

TransUnion has partnered with Spring Labs and Quadrata to bring credit scoring to the blockchain. Spring Labs’ technology will deliver TransUnion-powered data to Quadrata’s Web3 digital passport. TransUnion EVP of Financial Services Jason Laky said the move will “allow for DeFi lenders to have access to this critical information when making their lending decisions with…

Europe is a leading region in open banking and open finance, and the region’s fintech experts have a lot to say about both topics. While we were at FinovateEurope in London last month, our team set out to gather thoughts on the open banking and open finance environment in Europe and beyond. In this five-minute…

After some delay, the European Parliament has finally voted to adopt MiCAR. MiCAR is now expected to enter into force in June and start to apply in 2024. As the countdown towards application begins, we have published a webinar and a new report to help potentially in scope businesses prepare. As part of this, we…