Bank technology

Some Wells Fargo customers on social media Thursday afternoon expressed frustration with not being able to log in to accounts digitally. The San Francisco bank responded in a tweet acknowledging the problem.

Banco Santander joined existing investors JPMorgan and USAA as well as others in raising $25 million in secondary-round financing for Roostify, which seeks to build a paperless mortgage process.

For many newcomers to the U.S., establishing credit is a big challenge. A handful of entrepreneurs are developing tools to help verify their financial histories.

Startups that have developed the technology for real estate finance are starting to conduct a broader array of transactions, including property sales.

Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger.

Tim Welsh has spent his first two months on the job thinking about how to make U.S. Bank as central to consumers’ lives as Amazon, develop new personal financial management services, and expand into new cities.

One lawsuit has already been filed against Equifax in the wake of its massive security failure. But that’s the just beginning of the consequences for the credit bureau and the banks that use it.

Intruders accessed names, Social Security numbers, birth dates, addresses and driver’s license numbers in what could be one of the largest data intrusions.

It’s highly debatable whether the artificial intelligence engines that online lenders typically use, and that banks are just starting to deploy, are capable of making credit decisions without inadvertent prejudices.

At CIBC, Aayaz Pira is quickly turning ideas into apps, including its new mortgage one, with the help of its recently formed innovation hub.