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Banking companies are increasingly using application programming interfaces that transfer customer information to third-party money-management apps popular with consumers. But fraudsters are exploiting vulnerabilities in the technology to steal information.
The many advantages banks can obtain from working with financial technology companies are undeniable. But so are the dangers.
Some respected financial industry participants had connections with the cryptocurrency exchange and are coping with the fallout alongside thousands of investors and backers.
Regions and PNC are two banks that have expanded the use of their mobile branches in recent years.
Totem is set to debut in early 2023 and will use its fresh infusion of cash to hire more staff.