Bank technology

Officials from the Federal Reserve Bank of New York, Bangladesh Bank and payments network Swift vowed Tuesday to catch the thieves who took $81 million out of the Bangladesh central bank's account at the New York Fed.

U.S. banks are under pressure to do more with their data to understand their customers' needs and make the best offer. But the rub is that global privacy rules are getting tougher, and consumers are starting to want to own their data.

It is imperative for regulators and lawmakers to approach the online small business loan market with care and an understanding of how these lenders expand access to credit.

Corezoid is courting the U.S. banking industry with a cloud-based solution its founder developed while working at a Ukraine bank.

Fed up with the hassles of applying for a multitude of state licenses and relying on bank partners, fintech firms are increasingly interested in applying for a national bank charter — and federal regulators are considering ways to accommodate them.

The Federal Deposit Insurance Corp.’s request for input on mobile financial services allows banks to promote how their mobile app helps the underserved, which is a plus when seeking merger approval.

Many bank security people will undoubtedly shrug off Anonymous' claim that it's trying to bring down banks all over the world. There are a few reasons to take it seriously.

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.

Cameron and Tyler Winklevoss's Gemini Trust Company LLC has gotten a New York State regulator's blessing to trade another kind of cryptocurrency on its bitcoin exchange.

Most of the largest banks are participating in industrywide blockchain standard-setting activities, trying to determine which use cases would improve upon existing technology. That's backward, says Chain, a startup whose product is already being used by banks.

Hefty investments in customer-facing technology such as person-to-person payments, mobile check deposit and fingerprint recognition have given big banks a decided edge in attracting and retaining younger consumers.

Add HSBC to the list of banks offering Touch ID authentication services to mobile banking customers.

Requirements that banks share anti-money-laundering information should extend to fraud and cyber risks, to connect the dots between bad actors and their transfer of money.

The hacktivist group Anonymous, which brought down the Greek central bank's website through a distributed denial of service attack on Tuesday, claims it will be targeting financial organizations around the globe over the next 30 days.

Despite having fewer prepaid cards in the market, Green Dot delivered a first quarter that exceeded its executives' expectations with $78.3 million in adjusted earnings.

TransferWise, which has been developing an anti-bank brand, now says it wants to partner with banks to expand its reach in the U.S.

The hits that alternative lenders like OnDeck Capital are taking shouldn't be a surprise for an industry built on unsustainable business models.

Prosper Marketplace Inc., one of the largest U.S. online lending platforms, is slashing its workforce 28 percent, joining rivals in signaling investors aren’t as eager to fund loans after years of rapid growth.

Some buyers are hanging in there, but as OnDeck Capital's disappointing first-quarter results show, investors who acquire and securitize marketplace loans are heading for hills. Among the reasons: fear of defaults, unfavorable pricing and shrinking loan yields.

Entrepreneurs and other financial-technology experts give some common-sense advice including: watch your pennies, live in the right places and choose your associates carefully.