Bank technology

With flooding in a big portion of its market, Iberiabank executives detail how technology is helping it stay open for business in a way that could not have happened a decade ago.

R3 CEV, a consortium of several of the largest global banks focused on blockchain, filed its first patent on Tuesday: a distributed ledger platform designed to manage financial agreements between regulated financial institutions.

Screen scraping is an out-of-date way to share transaction data with mobile apps and services. It's high time for banks to invest in OAuth, a protocol that lets customers access their financial data in a portal of their choosing and is secure.

Artificial intelligence has gotten good enough to do some of the more mundane tasks people perform at banks every day. Whether the trend will kill certain job categories entirely or make a lot of dull work more interesting, or both, is an open debate.

New specifications for Fannie Mae and Freddie Mac's common mortgage application unveiled Tuesday add data points and remove obsolete questions, as well as include additional capabilities to promote digital mortgage workflows.

Companies like Prosper have revolutionized the front end of the consumer lending experience, but they have not proven able to handle even minor financial bumps without running off the road.

Sure, there is an inherent business tension between banks' digital offerings and personal financial management software. However, the ground rules for making account data available to consumers for use in external software products and apps are in place and the so-called rivalry is overblown.

High-profile hacks such as the attack on the Swift messaging system highlight how banks depend on each other to have top-notch cybersecurity. "Everyone's security is at risk, because everyone is communicating with each other," says Andre McGregor, director of security at Tanium.

The Federal Reserve Board launched a Facebook page last week — and it went about as well as you would think. Social media experts faulted its approach as high-handed and tone-deaf, raising questions about what the central bank was trying to accomplish and about its commitment to social media.

The New York State Department of Financial Services has fined Mega International Commercial Bank in Taiwan $180 million in connection with allegations that it violated New York’s anti-money-laundering laws.

Analytics tools for customer experience are an increasing priority for banks, but technology alone won't change anything. Banks also need to create an internal culture of data science.

With the Office of the Comptroller of the Currency evaluating the possibility of a nationwide charter for certain fintech firms, state regulators are voicing concerns that a charter could cut into their authority.

Eddie Bauer acknowledged that a data breach compromised credit cards used in its 350 stores during the first six and a half months of 2016.

Stakeholders must come together to make sure that artificial intelligence disrupts banking in a manner that incorporates constitutional values and provides responsible banking services to everyone.

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.

The regional bank has consolidated all of its digital operations under a single leader. Find out what he thinks about customer expectations, bots, fintechs and the coming convergence of digital banking.

People hold up blockchain as the answer to many security issues, including Swift-related hacks and card-not-present fraud. But distributed ledgers have vulnerabilities, too.

Chad Ballard, who most recently served as BBVA Compass' director of mobility and new digital business technologies, has joined PNC Financial Services Group.

Heather Cox is moving to USAA; female regulators are gaining prominence in the online lending conversation; and asset managers are still fighting sexism at work (but then again, who isn’t?).

Banks in cities such as Seattle and New York are getting creative with branching, adding some that are smaller than modest apartments.