Technology

Departing central bank chief says colleagues are committed to strict bank regulation; marketplace lending not living up to promises as delinquencies continue to rise.

Banks are looking at using the powerful number-crunching technology to make risk calculations, analyze portfolios and protect their systems against sophisticated cyberattacks.

To help its member banks avoid the nightmare of a data breach, Swift is requiring they take the necessary security steps to establish a strong baseline of cyber defense. And Swift intends to make sure its banks all follow the same procedures.

Covault has begun offering a digital identification and virtual safe deposit box service to banks and others. Similar efforts have failed before, but its backers say mobile apps and the cloud have made the service more practical.

Judopay, a London-based startup enabling merchants to accept mobile payments through a turnkey process, has formed a partnership with Visa’s CyberSource unit to extend the startup’s reach to international customers.

Target Corp. agreed to purchase grocery-delivery startup Shipt Inc. for $550 million, stepping up efforts to challenge Amazon.com Inc. in e-commerce orders.

Grupo Coppel and Insikt, an online lender, would appear to be cut from different cloth, but they share an expertise in providing credit to working-class, largely Hispanic consumers. The retail conglomerate also operates 1,000 bank branches in Mexico, mixing banking and commerce in a way that U.S. regulators have not allowed.

The case for real-time payments isn’t just about instant gratification. Truncating settlement times has enormous benefits to FIs, businesses and even governments.

We entrust tech firms with vast amounts of information about our daily lives, with an expectation that they will safeguard it. But have we become too casual in the trust we place with them in exchange for more personalized experience and convenience?

India’s income tax officials are investigating transactions at various illegal bitcoin exchanges, a week after the country’s central bank cautioned users of the virtual currency about potential risks.