Bank technology

Banks' in-house venture funds tend to favor mature fintech companies, but BBVA's establishment of an outside fund should help the bank get in on the ground floor with early-stage companies.

A cybercrime ring that reportedly stole $1 billion from banks around the world last year is back, using different tactics. For one thing, it's more often going after banks' corporate customers, making its activities harder for banks to detect.

Inspired by marketplace lenders, Live Oak Bancshares created a largely digital product that can make a credit decision on a small-business loan within 48 hours. The product, which combines human decision-making and automated credit scoring, could go national as early as next year.

U.S. Bancorp has hired John Steward as president of its retail payments solutions division.

Disruption in credit scoring is healthy, but the new models touted by marketplace and other alternative lenders are still untested, especially about how loans will perform in a downturn.

The Madrid-based bank announced Thursday that it will invest $250 million in Propel Venture Partners.

Lending Club reported record earnings in the fourth quarter thanks to soaring loan demand.

Frandsen Financial took the industry's plan to allow faster payments as a call to action. It invested in automation software, which allowed employees previously bogged down with manual tasks to focus on more meaningful duties.

Rather than replace aging servers and add an on-site backup system, The Eastern Colorado Bank moved its IT infrastructure to the cloud. While some bankers fear outsourcing such systems, the community bank has had a hosted core for several years.

Banks are coming up short in trying to keep pace with other more advanced app providers, but emulating these five steps taken by nonbanks can help drive mobile engagement.