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Today In Payments: Biden Expected To Name Michael Barr To Head OCC; Biden’s Treasury Pick Yellen Leary Of Crypto

PYMNTS

In today’s top news, President Biden is expected to pick Michael Barr to head the OCC, and Janet Yellen, Biden’s pick for Treasury Secretary, is expected to take a hard stance toward crypto. Biden Expected To Name Professor Michael Barr To Head OCC. Q4 Earnings Reports Show Mobile Banking’s Surge.

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Rethinking Conventional Wisdom

PYMNTS

30 million: Citigroup’s mobile banking customer count — up 25 percent from last year. 10 million: The fine Wells Fargo is potentially facing from the CFPB and OCC over mortgages and car insurance. The Data: . quintillion : The number of bytes of data produced per minute on Earth.

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A Leap into Generative AI for OCBC Bank with OCBC GPT Chatbot

Fintech News

Presently, AI makes over four million daily decisions for the bank across risk management, customer service, and sales, with OCBC projecting this number to reach 10 million by 2025.

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Goldman And BofA Earnings: A Tale Of Two Banks (And Digital Strategies)

PYMNTS

And in a trend that is likely to see continued traction in this new year — and beyond — active mobile banking customers were up 6.6 percent in the period to 30.6

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Finance Policy Predictions 2020: AML, Authentication, Collections & CRA

FICO

In December, the FDIC and OCC issued a proposed rule to modernize the Community Reinvestment Act (CRA). However, the current rules do not address changes in the industry like the advent of mobile banking. In addition, the Federal Reserve did not join the FDIC and OCC on the proposal.

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FIS, Fiserv, Infosys In The Running For Robinhood’s Bank Business

PYMNTS

FIS, Fiserv or Infosys will be tapped to provide the processing software for Robinhood’s upcoming mobile bank if it receives approval from the Office of the Comptroller of the Currency. It proposes to leverage those same and other innovative technologies to offer banking services in a safe and sound manner to U.S.

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Santander to Launch Openbank Brand in U.S. and Mexico

Finovate

Openbank currently offers payment cards, including debit and credit cards, prepaid cards, and travel cards; personal loans and mortgages; bank deposit tools; home, life, car, and digital insurance; as well as mobile banking capabilities and PFM tools. based digital banks have experienced difficulty launching in the U.S.,