A dozen years after it pioneered the technology, the company now says any bank or credit union using RDC is infringing on its innovation. Source: USAA wants banks to pay it for remote deposit capture | American Banker Isn’t this the same way drug dealers get their clients hooked?
The creators of a top “altcoin” are building privacy features for JPMorgan’s blockchain platform. Source: Worlds collide: JPM works with team behind anonymous crypto Zcash | American Banker This is a well written and well-cited article. If you study the article and make use of all the hyperlinks, you will have learned a lot.
The nation’s largest pension plan has 380 people overseeing $320 billion in assets. But when one of its top officials was asked during a board meeting how much in performance fees was paid to private-equity managers, he had to acknowledge no one knew. Source: Only Robots Can Tally What the Largest U.S. Pension Fund Pays…
DESCRIPTION_HERE Source: CFTC Launches LabCFTC as Major FinTech Initiative
Merlon Intelligence, a startup launching Wednesday, plans to offer banks AI software that will help them with their expensive compliance responsibilities. Source: Regtech startup’s mission: Find real terrorists, avoid false alarms | American Banker My former colleague, Konrad Alt, that handsome fellow on the left, is one of the smartest people I know. Probably tied…
Why DTCC thinks cloud computing will transform the IT profile of the industry. Source: Transforming The Industry’s IT Profile | DTCC From Where We Stand There is a video interview with DTCC Chief Information Officer Bob Garrison.
The hackers behind the massive WannaCry cyberattack have succeeded in extracting some ransom payments from people locked out of their computers. But they don’t yet have dollars to show for it. Source: Hackers Just Stole $66,000 in Bitcoin. Now What? – WSJ All that effort and misery for $66? They must just wanna cry.
Oops! The Office of Enforcement did not timely restrict access to confidential information for reassigned or transferred personnel. In addition, the office’s labeling and storage standards were inconsistently followed and its naming conventions for investigative files were inconsistent, which could increase the risk of unauthorized disclosures. During our fieldwork, the office took steps to improve…
China’s central bank has established a fintech committee to study the impact of financial technology on monetary policy, financial markets, stability, payment and clearing mechanisms. Source: China sets up fintech committee at central bank
In so doing, the $2 trillion-asset bank is adapting to a truth more banks are acknowledging: that customers are no longer coming directly to their branches, apps, websites or call centers. Instead, consumers are increasingly interacting with bank products in other places like Apple Pay, Facebook Messenger or Amazon Alexa. The internet of things promises…
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