Bank technology

Silicon Valley Bank in Santa Clara, Calif., has launched a program that lets new customers sign up for accounts using electronic signatures.

Former regulators, data scientists and academics have come up with a way to turn financial contracts of almost all types into algorithms computers can easily read. The ACTUS standard, if implemented across the board, could ideally give regulators and banks a true systemic view of risk.

Everyone agrees that electronic transactions should be as safe as possible, but a PIN mandate will not prevent online or mobile fraud.

During the ascension of marketplace lending, banks responded to the competitive threat in several different ways. Now some banks are better positioned than others to take advantage of the online sector's recent woes.

A former Citibank payments specialist has been appointed to the board of Meta Financial Group in Sioux Falls, S.D.

WASHINGTON — Seven financial trade groups announced Monday that they are banding together to push legislation that would extend banklike data security standards to retailers and nonbank businesses.

Standard Bank Group Ltd., Africa's biggest bank by assets, said it lost as much as 300 million rand ($19 million) to organized fraud in Japan.

Many see the future of financial services being powered by partnerships between banks and fintechs, but both sides need to first make sure they understand themselves and what they want.

The nascent industry's early success will mean very little if these new companies don't take necessary steps to position themselves for the long term.

InSellerate, a startup sales automation software company focused on the mortgage industry, has received financial backing from Sekits Capital.