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Bank regulators are likely to take further action to force banks to upgrade their cybersecurity processes as hackers continue to find ways to penetrate institutions’ defenses, Benjamin Lawsky, the top former New York bank supervisor, said Tuesday.


USAA's newest app, Savings Coach, analyzes financial data to recommend small amounts of money to save and invites members to take savings challenges, then moves the money upon the member's approval. The app comes at a time when millennials have a negative savings rate.

While some critics see banks' innovation labs as wasteful, unapplied research, Wells Fargo has embraced the hot trend by establishing six such labs, a so-called accelerator program and now an innovation group. The bank's Steve Ellis explains its rationale.
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A new ad from the U.S. unit of Toronto-Dominion Bank that features a same-sex couple is more than a social statement, as it also says a lot about the fragmentation, context and consumer control that are part of modern TV viewing habits, according to the company's top marketing executive.

Claims of security lapses at LifeLock and Experian call into question the value of these companies' identity theft protection services, which many banks offer to their customers.
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Mobile-first banking startups not only help partner institutions acquire deposit accounts. They also function as quasi-R&D units, teaching bankers about areas like design and coding.

Buyout heavyweight Accel-KKR just bought a stake in Banker's Toolbox, a software company that helps community banks flag fraud. The PE firm says it was on the hunt for investments in the compliance space given the regulatory climate.
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New York State's interim bank superintendent is asking pointed questions of a new instant messaging service. The outcome of the inquiry could broadly affect the way vendors work with regulators.

They're not ready to go all-in by putting core processing in the cloud, but community banks are experimenting with hybrid and quasi-cloud arrangements that offer low costs and rapid deployment.
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Radius Bank's partnership with online investment firm Aspiration highlights a nascent trend among small banks in the race to win millennial customers: partnering with fintech firms rather than opening branches.
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JPMorgan Chase is set to launch its new homepage on Sunday, marking its first major overhaul of Chase.com since 2012. The new homepage aims to simplify language and makes the company's news and stories feature more prominent with the hopes of driving customer engagement.
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Visa is partnering with and investing in Stripe, fueling the processing startup's international ambitions and product development while giving the card network added juice to build new technology.  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)