Category: digital currencies

USAA is using a combination of artificial intelligence-powered natural language processing and manual tagging to manage consumer complaints as more companies employ AI-based chat bots.   USAA automatically and manually categorizes text when using machine learning and AI-driven text recognition and analysis tools, Josh Swenson, director of compliance and enterprise complaint management program, said last month at the CBA Live event in Las…

Deutsche Bank AG is reviving a push to cut reliance on its IT center in Russia as it seeks to further pull out of the country after Moscow’s invasion of Ukraine last year. Germany’s largest lender has offered options to staff including severance packages and moving to other locations as “we continue to de-risk our…

Very Good Security (VGS) has got a brand new boss. The data security and compliance platform has appointed Chuck Yu as its Chief Executive Officer. Vertex Ventures U.S. General Partner Jonathan Heiliger, whose firm is a major investor in VGS, praised Yu’s experience in financial services. “His deep ties in the fintech and payments space…

The U.S. Securities and Exchange Commission (SEC) recently proposed overhauling the Custody Rule under the Advisers Act to enhance the protection of customer assets managed by registered investment advisers. These enhancements, which are proposed to be embodied in new rule 223-1 under the Advisers Act (Proposed Safeguarding Rule), could increase the cost burden on crypto…

JPMorgan Chase is investing in quantum computing technologies research to discover its potential uses for deep hedging within financial services. Deep hedging can be used to efficiently learn the expectations and distribution of returns, offer improved performance and train quantum policies. The $3.6 trillion bank conducted a study last month to determine if deep hedging…

Digital banking provider Bankjoy announced an integration with Fiserv Portico, a full-service account processing system. The integration will enable credit unions working with Fiserv Portico to offer their members an online and mobile banking experience with a modern, intuitive UX. Headquartered in Detroit, Michigan, Bankjoy most recently demoed its technology at FinovateFall 2022. Michigan-based digital…

Visa is launching Visa+, a peer-to-peer payments interoperability tool. PayPal and Venmo are piloting the launch. Visa partners DailyPay, i2c, TabaPay, and Western Union will also integrate Visa+ within their platforms. Fintech has solved a lot of problems by creating a multitude of different peer-to-peer (P2P) payment apps. In so doing, however, it has also…

Axle raised $4 million in a Seed round led by Gradient Ventures. Today’s investment brings the Atlanta, Georgia-based company’s total funding to $4.5 million. Axle is bringing consumer permissioned data to the insurance vertical. Consumer permissioned insurance data company Axle has raised $4 million this week for a tool it calls “the Plaid for insurance.”…

New York-based Piermont Bank appointed Rodrigo Suarez as its new chief banking and innovation officer.  Suarez previously served as the $467 million bank’s head of innovation. In his new role, he will use his tech-first mindset as Piermont looks to launch new products to assist the bank’s fintech partners, Suarez told Bank Automation News. “We’re…

Bank of America is seeking to decrease user clicks in its CashPro banking platform with its launch of a new search function this month. CashPro helps corporate clients manage their overall working capital, including deposit balances and originating payments, and allows businesses to harness existing information in a relevant way, Tom Durkin, global product head…