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Alternative financial service providers that sell prepaid cards, bill pay, check cashing and other services to underbanked consumers are becoming more sophisticated with the ways they mine customer data.


Google's attempt to capture the "stickiest" part of many online banking relationships could eventually help put it at the financial center of the consumer's life.

The so-called cloud container, a tool that makes it easier to develop apps for different operating systems, has emerged as a disruptive technology in data center and cloud computing. Even banks, ever cautious about safety in the cloud, might embrace the technology.

Banks are gravitating toward a new technology they think can help customers more easily open mobile accounts: allowing customers to photograph their driver's license from their smartphone to help them auto-fill portions of their application.
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Claire Cockerton of U.K. trade group Innovate Finance explains how technology can rehabilitate the global banking industry's reputation, how London became a financial technology hub and why Mayor Boris Johnson was plugging startups in New York last month.

It's the time of year when fraudsters target consumers with phony phone calls, claiming to be IRS agents and extorting money. Banks are not the direct victims, but they could be on the hook for executing wire transfers to criminals.

Alongside the requisite ATMs and tablet-bearing salespeople, a New York credit union has installed touchscreens where customers can visualize a path to realizing their financial goals. Wells Fargo is taking a similar approach to credit education online.

Large banks and card issuers are ready for the U.S. shift to chip-and-PIN technology, according to a report issued Wednesday. But the drop in fraud that is expected to result is unlikely to come any time soon.
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As lawmakers consider federal notification and information-sharing measures, a state official expressed jurisdictional concerns about creating national standards.

Kevin Cummings, the New Jersey company's CEO, transformed Investors to sizable bank prior to its second-step conversion last May. With $2.2 billion in capital and an updated core system, Cummings has his sights on the company's next growth phase.

A look at three former bankers trying their hands at fintech startups at a time when investment in the sector is flush and banks are desperate for new ideas for digital transformation.
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Innovation is not a competition. If both incumbents and startups in the fintech market would just accept that, mobile wallets and broader payments applications would have already been realized, according to Jonathan Vaux, executive director of Visa Europe.  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)

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