Visa is leveraging the open application programming interface (API) framework that the company announced last week to allow financial institutions to give consumers more control over their credit cards. The new Visa Consumer Transaction Controls service, allows Visa card issuers to give consumers tools for setting spending controls, receiving transaction alerts, or even temporarily suspending their own credit card accounts.
Bank of America is reportedly planning to add 20 bitcoin patents to the more than a dozen that it has already filed, according a top technology executive at the bank.
Fresh from the completion of a major funding round, Digital Asset Holding said its announcement last month that it was moving its Hyperledger platform to the Linux Foundation has been critical to further developing the platform. In just one month since the Linux Foundation announced a collaborative effort to advance blockchain technology, the project has become one of the efforts with the most participation requests in Linux Foundation history, according to a Digital Asset announcement.
Eleven banks joined a test of R3 CEV's peer-to-peer distributed leger private network. Through the test, the banks simulated the execution of instantaneous financial transactions, exchanging value represented by tokenized assets without the need for a centralized third party.
As Morgan Stanley announced that it swung to profit last quarter, the firm revealed that it sees expense reductions and efficiencies as key to continued profitability. The firm earned $908 million, or 39 cents a share in the fourth quarter of 2015, compared to a loss of $1.63 billion, or 91 cents a share in the year earlier period, which includes legal settlement costs.
Two top executives from Deutsche Bank's asset and wealth management businesses, which were split into separate units last year, are reportedly leaving the company. The changes come as Deutsche Bank continues on the path of its multi-year restructuring plan, which the firm calls Strategy 2020.
In 2012, ING Direct implemented a virtualization solution called Bank in a Box, enabling it to rapidly provision copies of its complete collection of banking systems. Now, a couple of years later, ING Direct views that project as a transformational shift for the bank.
Savings achieved from TD Bank's restructuring and streamlining of operations will be used for continued investment in the business, particularly technology, CEO Bharat Masrani said at a conference this week.
KeyCorp expects significant cost synergy from its proposed $4.1 billion takeover of First Niagara Financial Group Inc., and a sizeable portion of that cost saving is expected to be achieved through insourcing and consolidating technology operations.
Digital Asset Holdings, the blockchain technology firm headed by former JPMorgan executive Blythe Masters may be struggling to complete a major funding round, according to reports. The company is reportedly looking to complete a $35 million funding round that would value the company at $100 million.