In the wake of the COVID-19 pandemic, 85% of financial institutions said they have increased digitization efforts, according to a new survey from BAFT, ABA’s global transaction banking subsidiary, and CGI, an independent IT and business consulting firm.
Will the OCC’s clarification that U.S. banks can hold a cryptocurrency’s unique cryptographic keys turn out to be the onramp into a new revenue stream?
The OCC today proposed changes to its rules for national bank and federal savings association activities and operations to ensure that they can continue to meet the shifting needs of consumers, businesses and communities.
Amid turbulent times for trade, community and midsize banks are helping fuel America’s export economy.
Financial innovation is happening worldwide. Here are some of the top developments to watch.
As the leader of a 32-person R&D team helping U.S. Bank’s business lines implement new technology and scout out the most promising financial innovations, Dominic Venturo is on the front lines of fintech innovation in the banking world. On the latest episode of the ABA Banking Journal Podcast, Venturo talks about recent and upcoming innovations that U.S. Bank is rolling out.
Financial institutions are leveraging technology to make payments faster, easier and safer.
Aside from the recent bitcoin mania that is seeing a wave of “initial coin offerings” and goosing the stock value of companies that announce virtual currency plays, the underlying technology — known as blockchain, or distributed ledger technology — has attracted significant interest from financial institutions and investors.
As financial innovation forges ahead and digital currencies like bitcoin continue to make headlines, Federal Reserve Vice Chairman for Supervision Randal Quarles today emphasized the need to balance innovation with financial stability.