Bank technology

Next year, look for banks to finally start putting mission-critical applications on public cloud services, with Capital One leading the way.

The age of Google Glass may be over, but 2015 saw wearable technology emerge in more subtle forms such as watches, rings and other items that appear more trendy than geeky. The payments industry is working to make the most of this fashionable trend.

A year ago we asked BankThink contributors to make bold predictions about how the financial industry would evolve in 2015. Here's a look back at their forecasts and the actual outcomes.

Suffolk Bancorp in Riverhead, N.Y., has hired Fiserv as core processor and it plans to record a $1.4 million charge to cover the vendor switch.

BankMobile attracted 100,000 users in its first year and with the acquisition of a couple of business lines from collegiate servicer Higher One it is projecting it will have 2 million by July.

We revisit some of the best comments readers posted in 2015. Comments are excerpted from reader response sections of AmericanBanker.com and BankThink.com articles, except where noted.

Privacy advocates were appalled by the cybersecurity act Congress passed in the omnibus spending bill, with its abandonment of data-privacy provisions that existed in earlier versions. Now consumer and business-client privacy is at the discretion of the banks and other private companies.

Bank innovation has tended to focus on retail customers, but expect more technology for commercial customers in the coming year as those clients deman products that are easy to use and help them run more efficient enterprises.

Banks face immense challenges trying to keep up with technology, but they also must cater to older customers with big deposit accounts who still use their branch.

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