Bank technology

American International Group, the largest commercial insurer in the U.S. and Canada, named Michael Lewis chief digital officer as the company turns to technology to simplify operations and gain an edge against smaller rivals.

Attendees at the recent White House fintech summit shined a spotlight on shared innovation challenges. To overcome them and help the U.S. make progress in financial services, we need to embrace these three regulatory reforms.

WASHINGTON — The Federal Deposit Insurance Corp. has improved its information security processes, but more changes need to be made, the Government Accountability Office said in a report published Wednesday.

First Data has secured a partnership with Silicon Valley Bank, giving the payments technology provider and processor a front seat to take notes on all of the technology development taking place among the bank's clients.

Although intended to protect investors from market volatility, a decision by Betterment to temporarily suspend trading the morning after the British referendum has the wealth management industry wondering aloud if the robo-adviser harmed its reputation instead.

The Depository Trust & Clearing Corp.'s Mark Wetjen has joined the board of advisors of the Chamber of Digital Commerce.

Ever since the financial crisis, starting a bank from scratch has been hard. But opening a digital-only de novo bank is an especially tall order.

London has emerged as a mecca for fintech in the last few years, with more than half of top startups there in financial services or payments. When the U.K. voted in a national referendum on Thursday to leave the European Union, it created a lot of uncertainty for these startups. Here FemTech leaders share their views on how the referendum affects the relationship between banks and fintech and their appetites for collaboration.

The cryptocurrency ecosystem operates on the fringes of tradition, with "initial coin offerings" announced, discussed and carried out largely via online forums and without regulation. The phenomenon is high-risk and should be treated as such.

Credit scores are useful in predicting the likelihood of whether someone will repay a loan. However, banks and others need to provide customers with another number that more accurately assesses their financial health.

The credit card industry's switch to microchips has improved security, but fraudulent online purchases remain a big vulnerability. A new credit card company called Final, which launches Wednesday, is aiming to fix that problem.

The question of whether bitcoin is actually money is at the heart of a case of a man charged with selling $30,000 worth of the virtual currency to an undercover police officer.

Chief Technology Officer David Reilly has had to make major reductions in traditional expenses so Bank of America can afford to collaborate with fintech firms that are developing innovative products the bank craves.

Bankers, fintech entrepreneurs, regulators and other financial services players gathered in New Orleans last week to discuss the future of the industry at American Banker's Digital Banking 2016 conference. Here are some of the highlights of the conference. For more, check out the hashtag #digibank16 on Twitter.

Federal regulations — including the FFIEC's recent mobile security guidelines — have not kept pace with mobile innovation and the security risks users face from smartphone banking platforms.

Even though cybersecurity jobs can offer six-figure salaries, generous signing bonuses and other perks, banks are struggling to find people to hire.

Kroger is suing Visa, alleging the network threatened to raise fees and cut off the supermarket chain from accepting its debit cards.

Citizens Bank's largely millennial student loan applicants were not responding to email and phone communications. So it created a messaging service that mimics the social media they know and love.

The deadline has arrived for mandatory submissions to the Federal Housing Administration's Electronic Appraisal Delivery portal, but as many as one-third of lenders that originate FHA-insured mortgages have yet to use the new system.

Perhaps you read on vacation to escape the financial services grind, or perhaps you read to hone your business craft. Numerous titles on this year's list — recommended by American Banker readers, BankThink contributors, our staff and others — fall somewhere in between. Read about the lives of figures like Elon Musk or Barney Frank. Understand disruption, human error and how to manage stress. Or, perhaps you just want some insight into the sociopath's playbook. It's all here.