Bank technology

Consumers flooded Twitter and downdetector.com with complaints that Bank of America's teller system was down Tuesday afternoon.

Fifth Third Bancorp in Cincinnati will record a gain of $9 million during the fourth quarter after selling shares in the payment processor Vantiv.

More than 41% of banks have bought into hyperconvergence — a blend of integrated server, storage and networking technology that's easily managed by software — and there's no sign of its popularity letting up. PeoplesBank, a community bank in Massachusetts, is one of those that caught the bug.

Spanish banking giant Santander has withdrawn from the bank consortium R3 CEV, becoming the second defector from the blockchain group this week after Goldman Sachs.

With access to financial transaction data under threat by hurdles imposed by certain financial institutions, it should be up to consumers to decide how their data is used to improve their financial well-being.

Cody Wilson, inventor of the world's first 3D-printed handgun, has struggled to keep his radical business going after banks and payments companies repeatedly cut him off. His story offers an unusually detailed window onto the dynamics of de-risking.

Distinct business plans in promising areas such as smart use of consumer data, cybersecurity and content creation, according to Bank of America Merrill Lynch commercial banking executive Scott Olmsted. And that is just the beginning of his list.

One of the founding members of R3 CEV, the high-profile bank consortium developing commercial applications of distributed ledger technology for the financial industry, is leaving the alliance.

In the days of diskettes, Quicken was an innovator. Now, the personal financial manager aims to reclaim its glory days as it targets the 35-and-older crowd.

Banks should focus on strategies to ensure their sales incentives programs actually help drive profits. Otherwise, their rewards programs are at risk of adding zero benefit to their bottom line.

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.

Behavioral biometrics has already stopped several million dollars worth of online banking fraud at National Westminster Bank in London.

Many assume that a smart contract is something totally new. However, banking has used imperfect implementations of smart contracts for at least three decades.

The global conglomerate Koch Industries plans to invest $2 billion in Infor, an enterprise software provider for various industries including financial services.

The president-elect should consider establishing an executive-level office to inform his administration on ushering in a new era of financial regulation — one that is much savvier about new technology and big data.

The digital-advice startup SigFig has now teamed up on robo-advisory offerings with Wells Fargo and UBS, while BlackRock's FutureAdvisor has lined up agreements with U.S. Bancorp, BBVA and others.

With 14 million trades a day on Nasdaq and innumerable chats and emails, the stock market's risk and surveillance officers can't look at everything. Enter artificial intelligence.

In a bid to capture greater market share among affluent consumers, Citigroup announced Tuesday that it has revamped its Citigold services and has launched Citi Priority, a new offering that combines financial guidance with new digital tools and benefits.

Refusing to let innovators experiment in a permissive environment keeps regulators in the dark, and ultimately, prevents progress in financial services.

Aaron Vermut has resigned as chief executive of Prosper Marketplace, according to a report in The Wall Street Journal. Vermut stepped down last week but will remain a director at the San Francisco-based online lender, according to the report, which cites unnamed sources.