Banks are aiming to add personal financial management features, including goal-based savings vaults and cash flow forecasting, to standard banking apps like mobile check depositing. Their goal: Turn Gen-Y into a loyal client base.

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The cutting-edge bank — it already offers smart watch apps — is testing the technology on its employees' mobile devices and, if all goes well, it plans to roll it out to its customers by late summer.
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David Tente, the executive director of ATMIA
The ATM Industry Association is examining ways the machines can be used to better reach lower-income consumers. Sending money to someone, paying bills, and loading a portion of a check onto a prepaid card are among the types of transactions the group is envisioning can take place through ATMs.
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Cost concerns, regulations and restrictions on working with vendors are a few of the reasons bankers are having a tough time embracing new technology, according to American Banker readers.
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Concern about large-scale ATM fraud and denial-of-service attacks prompted regulators to issue two new alerts warning of various scams and outlining steps banks can take to prevent them.

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Online and mobile banking have forever transformed the way people bank, but the digital evolution has a dark side: it is increasingly creating new opportunities for fraudsters to hack into accounts.
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