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.
Credit Karma says it's giving customers weekly access to their full credit files, to help them fix errors and monitor their information for signs of fraud. Will banks follow suit?
Payment technology provider First Data is moving into the virtual prepaid space by acquiring Gyft.
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.
Payments startups may be fast and smart, but banks have compliance know-how, an established customer base and physical branches that will help them hook customers on new products.
Diebold is unveiling an anti-skimming card reader designed to prevent criminals from stealing card data from unsuspecting automated teller machine users.
JPMorgan Chase is cutting hundreds of technology support employees in its corporate and investment bank amid a revenue decline, people with knowledge of the move said.
Like the Internet of the 1980s, today's payment systems are a mishmash of disparate, closed networks that cannot communicate with one another effectively. Distributed ledger technologies can solve this problem.
U.S. Bancorp automated teller machines are now accepting donations to help the American Red Cross with its disaster relief efforts in Washington and Oregon.
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 the online ticket seller StubHub, it's that they need to educate their customers about the dangers of using the same passwords on multiple sites.
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.
Airbnbs recent rebranding featured personal narratives from employees and customers as well as stories that emphasized the companys local roots. Banks can apply these lessons to their own marketing and product development, according to consultant Sam Maule.
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.
Fifth Third Bancorp took a $17 million impairment charge on properties it owns because it no longer plans to build branches on them. More banks may need to do the same.