Category: digital currencies

SEATTLE — Ally Financial is using robotic process automation (RPA) and artificial intelligence (AI) to identify the fraudulent paystubs commonly used in conjunction with synthetic identities.   The lender is leveraging the automations to combat mounting fraud losses, Kevin Faragher, senior director of product and strategy at Ally Financial, said during the Monday panel discussion “Automation to Detect…

SEATTLE — Embedded finance adoption is highlighting the importance of responsible data usage for banks and fintechs. As demand for real-time payments surges, customers must be assured that sensitive information is secure and their financial institution is transparent in how it treats customer data, Paul Margarites, head of commercial digital platforms at TD Bank, said…

SEATTLE — Citi Ventures is investing in fintechs that focus on data security and developer productivity this year and is already eyeing an expanding portfolio for 2023. Citigroup’s venture capital subsidiary has an investment plan that answers the question: “What are the interesting companies and trends and how does that intersect with the strategic needs…

SEATTLE — Cloud engineers are in high demand as financial institutions seek to digitalize their cores and update their processes, but finding talent comes down to resources and mindset. Training digital engineers on cloud infrastructures is surprisingly costly and time-consuming, said Victor Tung, U.S. chief technology and operations officer and chief information and operations officer…

CNote closed $7.25 million in Series A funding. The round was led by American Family Insurance Institute for Corporate and Social Impact. The investment brings CNote’s total funding to almost $15.5 million. Investment platform CNote raised $7.25 million today in a round that boosted the company’s total funds to almost $15.5 million. The Series A…

SEATTLE — U.S. Bank is tying its APIs into a workflow within the bank’s central tools to automate previously manual services and streamline bank processes. The project was disclosed by Ian Eslick, chief technology officer for enterprise architecture and engineering at the $587 billion bank, during a fireside chat today at Bank Automation Summit Fall…

FinovateFall 2022 ended last week. If you were there, then thanks for helping make the conference our largest, and most well-attended yet. And if you were not there, then we’ve got good news and better news for you. The good news is that we’re sharing some of the mainstage highlights from FinovateFall 2022 below. The…

SEATTLE — Lenders migrating to the cloud must fully understand their technology in order to satisfy potential inquiries from regulators, Bryce Elliott, Truist’s Chief Information Officer for Wholesale and Enterprise Payments, said today during the Bank Automation Summit Fall event in Seattle. “Regulatory bodies, whether internal or external, are always going to want to know: Do you know…

Novatti Group has partnered with transaction monitoring company ThetaRay. Novatti will deploy ThetaRay’s SONAR technology to defend its global payments business from money laundering and other financial crime. A Finovate alum since 2015, ThetaRay has secured partnerships with companies ranging from Travelex Bank to fellow Finovate alum Payoneer. Business payments enabler Novatti Group has partnered…

SEATTLE — Bank Automation Summit Fall 2022 kicks off today with a fireside chat featuring U.S. Bank Chief Technology Officer Ian Eslick. The two-day event will also include panel discussions, presentations and networking opportunities around three key themes: Enhancing the development of automated processes Banks are looking to citizen developers for innovative automation solutions as…