Bank technology

Most big banks are launching robo advisers to compete for a new breed of wealth management customer. The risk is that automated services will disappoint traditional customers.

The fresh funding demonstrates the support behind the concept of simple apps that help consumers save and invest.

BMO Wealth Management aims to modernize its investment service and give planners better equipment. Others offering automated advice solutions include UBS, Wells Fargo and JPMorgan.

The bank aims to have a total of 4,000 representatives by year-end in Merrill Edge, which now has 2.4 million accounts and $184.5 billion in assets.

More than a decade ago, bankers fought Walmart tooth and nail as it made forays into banking. But with Amazon making more moves into financial services, the reaction is very different.

Stepping in after co-founder Mike Cagney's resignation, Twitter's Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.

Banks' online advice platforms are just the face of a deeper effort to restructure client data and adapt to a digital era.

Advisors worried about securing client data should learn how banks are developing a protected space for internet activity.

With millions of Alexa and Google Home devices now in use, first-mover banks are rapidly developing services to let customers control their finances using only their voice — even if there are still many kinks to work out.

The firm will now directly link to Acorns, following its roughly $30 million investment in the microinvesting app.

Following in the footsteps of Chase, Wells Fargo and others, Fidelity is launching an application programming interface to let third-party apps access customer data — as long as the customers grant permission.

Fifth Third Bank tweaks microinvesting premise with software that rounds up debit card purchases to help pay back educational loans.

Like many financial companies, the brokerage wants to go where customers are. Since that means communicating with them via a third-party platform, it is working through privacy and security issues.

It is the latest of several popular PFM apps to close down in recent weeks.

The microinvesting site, which now has over 2 million accounts, allied itself with Clarity Money.

Convinced that clients want as much human interaction as ever, the Wall Street firm is using machine learning to help its financial advisers stay informed and work efficiently.

The app allows users, many of them first-time investors, to get started for as little as $5.

Artificial intelligence can help wealth managers serve clients better, but some say the technology is too immature to be useful right now.

Fintech startup GoldBean tapped by banking software firm to pair planning with financial literacy tools.

Vault and Retiremap are launching products this week that are designed to help people stash cash where they can.