Bank technology

Randolph Bancorp raised $57 million in a mutual-to-stock conversion and is using the proceeds to fund acquisitions — it closed its first-ever deal in July — and dramatically improve its digital capabilities.

Financial institutions must act on the "urgent and fundamental" need to transform the correspondent banking system, the consulting firm said in an annual report on global payments.

Yahoo says no bank account or card data has been compromised in its massive data breach. Yet hackers could use their ill-gotten personal information about customers to mess with bank accounts.

Financial services IT teams must think like cybercriminals and develop an offensive approach to security at a time when threats are growing in frequency and sophistication.

Starting Friday, all U.S. banks should be able to receive same-day payments. But by itself, same-day speed may not be enough to meet the demands of an increasingly digital world.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

WASHINGTON — Federal regulators are not moving fast enough on fintech, prompting Rep. Patrick McHenry to introduce a bill designed to give them a push.

JPMorgan Chase is shifting its IT organization to private and public cloud computing. The motivation is not just saving money — on the contrary, CIO Dana Deasy vows the IT budget will not shrink. Rather, the main goals are saving developers' time, redirecting resources away from basic infrastructure and toward innovation and working with fintech startups.

JPMorgan Chase has made an equity investment of an undisclosed size in InvestCloud, a startup that provides cloud-based software to the securities industry.

Banks continue to gather ID documents manually from would-be customers, even ones who sought to open accounts online. Bringing the manual process into the digital age is the goal of several startups.