Bank technology

It's a question many banks are already confronting head-on as they implement new technologies designed to make compliance easier.

Banks that find true innovation hard to accomplish can take heart — it’s no picnic for startups either. To hear both sides share their challenges is an argument for collaboration.

Tim Welsh has spent his first two months on the job thinking about how to make U.S. Bank as central to consumers’ lives as Amazon, develop new personal financial management services, and expand into new cities.

Yes, the credit bureau goofed badly on data security, and it proved to be worse at crisis management. But other companies have been just as sloppy with cyber defenses, and business and government leaders should have tackled these problems long before now.

Arthur Levitt says seemingly daily scandals highlight the lack of oversight and corporate governance shortcomings of financial technology firms, but two marketplace lending executives responded that more mature companies have just as many problems.

The identity theft threat created by the Equifax hack and the growth of online lending have given software makers a platform to pitch products that rely on selfies, scans of driver’s licenses and other nontraditional ID methods.

Separate apps for banking and PFM are too much for most customers to handle, so the Canadian bank is adding automated advice and savings to mobile banking — and it’s relying on artificial intelligence and predictive analytics to make it all work.

Out-of-control email chains, long meetings, haphazard approaches — that was project "management" at Exchange Bank in California. It took five years, but those things have changed.

Readers chime in on debates about ILCs, the CFPB’s arbitration rule, the financial services ambitions of tech firms and more.

Umpqua Bank is testing a system that would make text-chat, video and voice banking more personable by staffing them with branch workers during their downtime.