Cyber-savvy con artists posing as company CEOs are carrying out highly successful financial frauds. Bank of the West's David Pollino is on a crusade to educate banks and their corporate customers about this threat.

Features

A sizable portion of the banking industry has increased spending on mobile banking technology by more than half this year, according to a recent American Banker survey.

Free credit scores are so seven years ago. Credit Karma, an educational site for consumers that makes money from sending customer leads to lenders, is now publishing free full credit reports on a more frequent basis. The idea is to better educate borrowers who are in the market for credit while collecting better leads for its bank partners.

Photo bill pay is supposed to make adding payees a snap for smartphone customers. But the feature faces some problems, including a lack of uniformity of the data on physical invoices and how consumers take the pictures.

They haven't caught much media attention lately, but distributed denial of service attacks continue to take place and have become larger, researchers analyzing the latest attack patterns say.

If there's one lesson bankers can take away from the hacking incident at online ticket seller StubHub, it's that they need to educate their customers about the dangers of using the same passwords on multiple sites.

Scott Jackson, CEO of MVTrac
As lenders make riskier loans, they're banking on improvements in their ability to track delinquent borrowers' cars to keep losses to a minimum.

Ion Bank has been using interactive teller machines, which let customers conduct video chats with tellers, for more than a year. The technology has helped some of its branches stay open for business 27 hours longer per week without overspending.

Community banks need to rethink their technology and marketing to ensure they are snagging a piece of the millennial generation. Big banks have the lead in reaching this demographic, but they are vulnerable, experts said.

Online banking sites are as leaky as sieves, according to some researchers' tests. They are especially vulnerable to clickjacking.
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The bank's adoption of scheduling technology underscores the fact that, while branch traffic is declining, most sales of loan, deposit or investment products are still made at the branch. It's also further evidence that banks are using technology to engage with customers who are visiting branches less and less.
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