Bank technology

Meta Financial Group in Sioux Falls, S.D., has promoted Cynthia Smith, its head of technology and operations, to chief operating officer.

The sheer amount of data created in recent years has exploded, leaving banks with a tremendous amount of data sets to mine through. Community banks need to utilize analytics to stay competitive with their big-bank peers.

State regulators' resistance to the idea of a national fintech charter is not surprising, but state-by-state regulation imposes heavy burdens that reverse the cost savings and expanded reach available through fintech.

In the age of big data, banks should be king. After all, which industry knows more about people and how they behave than the holders of deposits? But all that data is useless without leaders who know how to effectively analyze it. American Banker recently polled data and analytics chiefs at banks about the trials and tribulations of big data and the art of finding insightful information. Here are some of their responses.

Nearly six months into its partnership with TD Bank in Canada, Moven is on the hunt for additional partners as it looks to take its real-time spending insights to the masses.

Some financial companies are leery of betting on an early-stage technology such as artificial intelligence for important jobs like combating account thefts, but PayPal says it works – especially in rooting out false alarms.

With even community banks getting hit by ransomware attacks, there's a long list of cybersecurity practices that bankers can expect their supervisors to scrutinize during upcoming exams.

Amazon.com and Wells Fargo on Wednesday ended their partnership to offer college students a discount on private student loans, quickly abandoning what the bank lauded just six weeks ago as a "tremendous opportunity."

Swift is warning its member banks to quickly upgrade their software and security protocols for the global financial messaging system following a wave of new, recent hacks triggering more bank losses.

Australian banks wants Apple to open up its payments system to third parties. U.S. banks are likely following the situation closely as many are looking to renegotiate their contracts.