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Software problems have recently plagued Bank of New York Mellon, HSBC and the New York Stock Exchange. Thorough testing and new quality standards can help financial institutions weed out weaknesses in their code that could (literally) break the bank.


The New York licensing process for virtual currency companies is stoking fears that firms which do apply could inadvertently open themselves up to prosecution.

The San Francisco company hopes to lower its costs by driving out human intervention as much as possible. To get there, it has made the counterintuitive decision to locate its operations staff in one of the country’s most expensive cities.

Lead Bank in Kansas City, Mo., is poised to open a special branch designed for millennial entrepreneurs. Not only can these commercial customers bank in the techie, garage-like space, but they can actually work there, too.

Symphony, the instant messaging service supported by fifteen large banks, says it will be ready to roll on Sept. 13 despite the objections of Sen. Elizabeth Warren and regulators who fear its encryption technology will impede supervision.

A data breach-related court case involving Wyndham hotels and new Defense Department rules governing contractors provide banks some dos and don'ts in bringing vendors' security practices into line.

Old-fashioned banks and neobanks are both finding the battle for acquiring customers to be treacherous. So BankMobile, a mobile-first banking service, has launched an innovation lab-like division seeking new tech that could attract thousands of new customers per month.

The heavy costs of fixing broken trades and the need to become more efficient as trade settlement times shorten are driving Goldman Sachs, JPMorgan Chase and Morgan Stanley to invest in a reference-data utility.

A growing number of fintech startups are appealing to the sensibilities of millennials by meeting social missions and, in some cases, by tying the amount of business they generate to the amount they give back to charity or to their customers.

Standard Treasury, the startup that Silicon Valley Bank absorbed this month, is helping create software gateways for the institution's high-tech business clients to customize the way they interact with it.

Google is pitching its lightweight laptops to enterprises such as banks. But bankers say the devices are not yet a match for financial institutions' intense computing needs.
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The smartphone can add significant security to payments, but it is also a tool that fraudsters can exploit. Researchers and scammers have already found several unique attacks that rely on mobile devices.  read more »
8 Things Apple Pay Left Out

Apple's long-anticipated move into mobile payments seemed to cover all the bases -- Apple Pay will launch with the support of major banks, card networks and retailers. But there were several things that didn't make it into the first version of its mobile wallet.

(Image: Bloomberg News)