Bank technology

The financial services technology provider Jack Henry & Associates is the latest company to collaborate with The Clearing House to speed processing, a move that will substantially increase the number of banks capable of executing faster payments.

In focusing on private blockchains, banks make the same mistake companies made in the nineties when they favored private information networks over the open protocols of the Internet.

The tax agency's struggle to protect sensitive data mirrors banks' own, and its shortcomings can also be found at financial institutions.

Hailed as a space- and cost-saver, interactive video teller machines don't always succeed as a strategy. Many banks offer them without a clear business case to justify the investment.

Vidyo, a startup whose video technology is used in Google Hangout, said Tuesday it was tapped by automated teller machine-maker NCR to provide video conferencing software for NCR's 250 bank and credit union customers.

Supplanting a 50-year-old interbank network with the technology tied to bitcoin sounds provocative. Here's why it's not that crazy.

Smaller players are losing ground to deep-pocketed large banks that can both absorb compliance costs and invest in the most up-to-date technology, M&T's longtime CEO said in his annual letter to shareholders. He also worried about banks' shrinking role in the ever-changing lending landscape.

In explaining the bank's commitment to the Chase Pay mobile wallet, an executive told investors in February that the mobile payment landscape was going to get more complicated before it gets simpler.

The Office of the Comptroller of the Currency is collecting data on the decision-making process of banks that detach themselves from certain business sectors or geographical regions to limit potential heightened scrutiny from regulators, a process often called "de-risking."

Banks need to rethink their purpose to serve its younger customers, many of whom are inundated with choices. Banks have a tremendous opportunity to win these overbanked customers if they can figure out a way to become the financial hub.