Regulators would like banks to use their mobile banking services to reach the unbanked and underbanked. Some, including Southern Bancorp and BBVA Compass, are working to create mobile features that will help them compete with check cashers and payday lenders.

Features

If the Apple Watch catapults wearable computers into the mainstream, as some observers expect, banks will be tasked to reimagine the way they provide financial services features to their customers.
Comments (1)

Regulators are developing joint standards for cybersecurity, testing special exam procedures and helping banks assess their own readiness, Federal Deposit Insurance Corp. Chairman Martin Gruenberg said at American Banker's 4th Annual Regulatory Symposium. That's a good thing because community bankers said they need a lot of help.

For the third year in a row, employees of various credit unions across the country spent 24 straight hours trying to come up with the next great financial technology offering.

The mobile wallet finally has some real momentum. Will the biggest banks use the opportunity to take business from their smaller peers?
Comments (2)

TrueAccord, which just raised $5 million, aims to use automation, data and behavioral analysis to transform debt collection – a business where old hands shy away from communicating with consumers by email.
Comments (2)

Customers of Simple, a unit of BBVA, have complained in recent weeks about delays and failures in scheduled payments, highlighting digital-only banks' dependence on third-party providers and antiquated legacy systems.

American Express is seeking ideas from outside researchers on how to cater to underbanked consumers and potentially refine its Serve prepaid account.

To obtain approval and funding for security improvements, bank technologists have to make their case by pointing to losses from recent security breaches. But calculating those losses can be tricky.

The banks involved in Apple's mobile payment platform cite the enhanced security, intuitive user experience and brand name. Even if they sacrifice fees, they could make it up on volume.

Within the past 12 months, one large retailer after another has fallen victim to a massive data breach. But at least the pilfered data is getting harder for thieves to monetize.
See all Bank Technology News
Disruptors
Apple Pay isn't yet on phones, but many companies in the financial services industry have already changed their strategies to respond to it. Some are on board with Apple's new mobile wallet, but others are firmly against it.  read more »
Top 8 Tweets from the Digital Banking Summit

Financial services technologists discussed the innovations and trends transforming the industry at last week's Digital Banking Summit in Los Angeles. Here are eight tweets that capture the key themes from the three-day fintech confab.

Marketplace
Fiserv is a leading global provider of information management and electronic commerce systems for the financial services industry.
Learn More
Informa Research Services is the premier provider of competitive intelligence, mystery shopping, and compliance testing services to the financial industry.
Learn More
CSC is a leader in private-label, third-party loan servicing with 30+ years of proven experience in delivering effective, cost-effective solutions.
Learn More
Already a subscriber? Log in here
Please note you must now log in with your email address and password.