Financial Services Industry

Financial Services Industry| News, how-tos, features, reviews, and videos

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Q&A: TIAA's CIO touts top AI projects, details worker skills needed now

Sastry Durvasula, the chief information and client services officer at TIAA, has been leading an initiative to deploy AI in a myriad of business operations to create greater efficiencies and improve client experiences.

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Is Apple now the world’s biggest fintech disruptor?

Who is the world’s biggest fintech company at the moment? Apple. Just think about that.

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Apple launches Tap to Pay on iPhone for UK business

Small UK merchants, businesses, and other enterprises can now use Apple’s Tap to Pay on iPhone service to replace payment terminals at point of sale.

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Could Apple Card finally become an international service?

There was big interest when Apple partnered with Goldman Sachs and introduced Apple Card, but the two never managed to introduce the Cupertino credit card outside the US. Can this change?

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How banks and businesses can prep for the FedNow instant-payment system

FedNow will be the first of its kind central bank instant payment system in the US and could revolutionize how businesses and consumers pay and receive money. But not everyone is prepared for it.

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Q&A: At MIT event, Tom Siebel sees ‘terrifying’ consequences from using AI

At MIT Technology Review's EmTech Digital conference, Tom Siebel, the CEO of C3 AI and founder of CRM vendor Siebel Systems, said he's been asked by government and military officials to create AI for what he sees as unethical...

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Apple's inexorable plan to replace retail banking

As GoDaddy signs up to offer Tap To Pay, it's time to look at Apple's $20 trillion opportunity in retail banking.

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Fed’s Zelle-like instant payment system to go live in July, hundreds now testing

The US central bank’s FedNow payment and settlement rail will increase liquidity, especially for small businesses and supply chain participants who can get paid instantly for goods and services.

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Government-backed digital money to represent $213B in payments by 2030

Digital currencies backed by government banks still face a mountain of challenges before they'll be ready for prime time, but 114 countries are involved in various projects, either in the planning stage or all-out pilots.

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Tech industry dodges a financial bullet after SVB crash

What might have been the start of a catastrophic bank run after the Silicon Valley Bank failure has been stopped for now. But tech firms and start-ups that had assets at the bank could still feel a squeeze.

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Q&A: Fintech expert: digital wallets need this tech 'magic' or they'll fail

Wells Fargo & Co., Bank of America, JPMorgan Chase, and four other financial services firms plan to launch a new digital wallet in 2023. But a long-time fintech expert said there's little chance of success if they don't embrace the...

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Morgan Stanley fines some employees $1M for WhatsApp, iMessage use

After being fined more than $200 million last year for similar violations, Morgan Stanley has begun penalizing employees for using personal messaging apps for company business. But at least one expert said banning the tools won't work...

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Big banks' proposed digital wallet payment system likely to fail

Bank of America, JPMorgan, Wells Fargo, and other banks are joining forces to create a digital wallet to compete with the likes of Apple Pay and Google Pay. But they have an uphill battle ahead.

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As China pushes its digital currency plans, the US falls behind

China's digital yuan has been piloted in 15 provinces and tested across a multinational financial network. Meanwhile, the US is still developing a digital currency, endangering the dollar's place as the world's reserve currency and...

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FTX meltdown likely to spur crypto regulations, cool digital currency push

The collapse of the major crypto exchange could be the final straw in an ongoing push to create oversight of cryptocurrencies, how they're stored, and where they're traded. Any government oversight is likely to affect other digital...

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Q&A: Chase CIO offers top interview tips for tech job seekers

If you want an edge, first educate yourself on the industry and organization in which you're seeking employment, advises Chase CIO Gill Haus — and don't be afraid to be yourself.

Why America’s oldest bank launched a crypto custody service

BNY Mellon has launched a live service that allows institutional clients to store and exchange bitcoin and ether, giving the highly volatile cryptocurrencies credence on the world market.

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Would a US digital dollar let the government track you?

As lawmakers push to create a digital form of the US dollar, some are concerned it could give the federal government access to what consumers and businesses do through electronic transactions.

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