Category: digital currencies

Southern Bancorp Chief Innovation Officer Vance Smiley focuses on in-house innovation to solve client friction within wealth management and access to capital.  “We’re focused on identifying problems first and then being methodical about looking for solutions,” Smiley told Bank Automation News. “Some of those can and will be found externally, but only after determining our…

Citi is investing in platform and process simplification, security and infrastructure modernization, client experience enhancements and data improvements. “We recognize these investments have driven a significant increase in expenses, but they are crucial to modernize the firm, address the consent orders and position Citi for success in the years to come,” Citi Chief Financial Officer…

GoDaddy has added a contactless payments option for its merchant clients. By leveraging Apple’s Tap to Pay on iPhone, GoDaddy enables entrepreneurs to accept in-person, contactless payments without a card reader. The transaction capabilities are powered by GoDaddy Payments, which the company launched in 2021 after acquiring Poynt. Internet domain registrar and online business facilitator…

Omnichannel card and payment platform Qolo has partnered with KeyBank. Via the partnership, Qolo will power KeyBank’s payment solutions and virtual accounts. Based in Fort Lauderdale, Florida, Qolo made its Finovate debut at FinovateFall in September 2022. KeyBank has selected omnichannel card and payment platform Qolo to power its API-based payment solutions and virtual accounts.…

BNPL company Affirm and payments infrastructure company Stripe are expanding their relationship. The move will make Affirm’s Adaptive Checkout tool available to businesses using Stripe in Canada. The two began working together in May of 2022, when the payments company added the Affirm’s Adaptive Checkout tool as an option for U.S. businesses. Buy now, pay…

In this week’s edition of Finovate Global, we feature Uri Rivner, co-founder and CEO of Refine Intelligence. The Tel Aviv, Israel-based company, founded in 2022, made its Finovate debut earlier this year at FinovateEurope. At the conference, Refine Intelligence demoed its technology, Life Story Analytics, that leverages AI to help banks better defend themselves against…

JPMorgan Chase decreased technology, communications, and equipment expenses year over year during the first quarter of 2023, but an increase in headcount and wage inflation saw noninterest expenses increase YoY.  WHY IT MATTERS: The $3.7 trillion bank’s tech spending fell for the second straight quarter to $2.1 billion, a 7% YoY decrease, according to the…

Wells Fargo recognized its clients’ demand for digital capabilities within its online and mobile platforms as digital usership grew in the first quarter of 2023. “Our customers expect us to provide them with increasingly digitized and seamless banking experiences across all channels,” Chief Executive Charlie Scharf said today during the $1.8 trillion bank’s Q1 2023…

PNC continued its improvement plan in the first quarter of 2023 as efforts to reduce costs by $400 million this year stay on target. “This program funds a significant portion of our ongoing business and technology investment,” PNC Chief Financial Officer Rob Reilly said today during the $557 billion bank’s earnings call. BY THE NUMBERS:…

It’s impossible for anyone to avoid payments. And it’s impossible for banks to avoid payments technology. That’s why our team spent time at FinovateEurope last month interviewing industry experts on the topic of payments. In the six-minute video below, Starling Bank CEO Sam Everington shared his view on why banks are in the technology business.…