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Tether to launch new US stablecoin, Bo Hines to lead project - Bank Automation News
Tether Holdings SA, the company behind the world’s most traded cryptocurrency, is bringing its digital dollar home, unveiling a US-regulated stablecoin and appointing Bo Hines, a former White House crypto official, to lead the effort. The token will be launched in partnership with Cantor Fitzgerald LP and Anchorage Digital Bank NA, El Salvador-based Tether said […]
Transactions: U.S. Bank embeds new SMB offerings - Bank Automation News
U.S. Bank is expanding its small business offerings with launches of two embedded solutions this month. On Sept. 4, the $673 billion bank announced the following offerings for its 1.4 million small business (SMB) clients: U.S. Bank bill pay for businesses; and U.S. Bank payroll. “With these two [launches], we are now essentially investing a […]
Private equity AI use cases emerge - Bank Automation News
AI is expected to touch all verticals within financial services, including private equity. There are emerging uses of AI in private equity, and like other industries, there is no playbook on how to deploy the technology, Christian Davis, associate partner at commercial data service provider JMAN Group, told Bank Automation News. “Some of those use […]
PNC to reach Colorado-expansion target with FirstBank takeover - Bank Automation News
PNC Financial Services Group Inc. will fulfill its goals for expanding across Colorado with the planned takeover of FirstBank Holding Co., and the regional-banking giant will focus its branch-opening effort on other states instead, PNC Chief Executive Officer Bill Demchak said. Pittsburgh-based PNC agreed to buy FirstBank for about $4.1 billion to add $26.8 billion […]
Truist’s granted patents skyrocket 960% YoY in 2024 - Bank Automation News
Truist is prioritizing innovation and has seen a sharp increase in the number of patents it has been granted. The $544 billion bank launched its patent program in 2022 as it looked to foster a more digital and innovative approach to banking, Michael Springs, senior associate general counsel at Truist, told Bank Automation News. “Truist’s […]
Trimont picks JPMorgan for payments using blockchain - Bank Automation News
Trimont LLC, a global commercial real estate loan servicing company, is using JPMorgan Chase & Co.’s blockchain platform to help speed up and automate loan payments, as more companies look to crypto’s underlying technology as alternative rails for money movement. The Atlanta-based company — which manages around $730 billion in loans — used JPMorgan’s Kinexys […]