Banco Santander has appointed PayPal veteran Nitin Prabhu as its global head of Digital Consumer Bank (DCB). In this role as head of one of the bank’s five global businesses, Prabhu will be responsible for the auto and consumer business globally as well as its fully digital bank Openbank,...
Banks rely on core tech to handle the basics: transactions, deposits, loans and more. But the kicker is that most of these systems were built decades ago. As in 1980, not 2010. Back then, “digital transformation” through the lens of a financial institution (FI) meant...
The Consumer Financial Protection Bureau (CFPB) sued Comerica Bank Friday (Dec. 6), alleging that the bank committed violations that include hanging up on customer service calls and charging illegal ATM fees. The agency’s complaint centers on the Direct Express program, which Comerica Bank has administered on behalf of...
Artificial intelligence (AI) startup iGenius said it is building one of the world’s largest Nvidia DGX AI supercomputers with Nvidia Grace Blackwell superchips and will use it to deploy AI models for financial services, healthcare and public sector customers around the world. The supercomputer, dubbed iGenius Colosseum, will...
December 12, 2024
The new (and reportedly final) rule on overdraft fees may have consumer groups — and consumers — cheering. But the Consumer Financial Protection Bureau’s (CFPB) move may have a series of negative ripple effects for those same consumers, as banks consider offsetting the impact of new regulations, which among other things, caps the fees at […]
November 27, 2024
As financial services become more interconnected and technology-driven, the role and impact of the chief risk officer (CRO) is evolving dramatically. “The speed of change is what stands out the...
November 01, 2024
The financial services industry stands at a crossroads where technology, customer expectations, and market pressures converge to create both challenges and opportunities. As we look toward 2025, industry leaders are...
November 01, 2024
Today’s financial landscape is changing as embedded finance integrates banking services into everyday consumer experiences. This development is driven by brands stepping into roles traditionally held by banks, creating innovative...
December 11, 2024
Banco Santander has appointed PayPal veteran Nitin Prabhu as its global head of Digital Consumer Bank (DCB). In this role as head of one of the bank’s five global businesses, Prabhu will be responsible for the auto and consumer business globally as well as its fully digital bank Openbank, Santander said in a Wednesday (Dec. 11) press release. “DCB is […]
December 06, 2024
The Consumer Financial Protection Bureau (CFPB) sued Comerica Bank Friday (Dec. 6), alleging that the bank committed violations that include hanging up on customer service calls and charging illegal ATM fees. The...
December 05, 2024
Artificial intelligence (AI) startup iGenius said it is building one of the world’s largest Nvidia DGX AI supercomputers with Nvidia Grace Blackwell superchips and will use it to deploy AI models for financial...
December 02, 2024
The House Financial Services Committee (HFSC) aims to play a role in the development of artificial intelligence (AI) as the technology impacts the financial services and housing industries. HFSC Chairman Patrick McHenry,...
