Bank technology

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.

Paper-based marketing — not digital communication — remains a more promising way to reach customers 50 and older, who also tend to be a bank's wealthiest client segment.

Swift is taking another step to protect the payment system following a multimillion-dollar cybertheft early in the year.

WASHINGTON — A Republican lawmaker is urging the Office of the Comptroller of the Currency to consider issues related to virtual currency companies as the agency develops a fintech regulatory framework.

Fraud analytics, e-signatures, consent tools, artificial intelligence and notifications are all being floated as possible defenses against employees falsifying account openings and product sales.