Bank technology

Yodlee of Redwood City, Calif., has hired Jim Frankola as its chief financial officer.

The Federal Reserve Board is planning to offer same-day settlement for some automated clearing house payments, starting Aug. 2.

As banks expand their technology teams they are especially interested in people who are good at managing new data technology or have project management skills for integration initiatives. But it's not yet time to party about robust job prospects.

Having had plenty of time to prepare, how are banks doing in meeting the RDC technology risk management mandate? Not that well.

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Consumers prefer smaller rewards they can redeem faster for making purchases with payment cards over larger perks such as airplane tickets that they earn more slowly, according to a study conducted by Synergistics Research Corp.

Affluent card thieves have new card skimming method at their disposal; phishers shift focus to knowledge-based authentication; light shed on AT&T-Apple glitch; and more.

JPMorgan Chase & Co. has hired a PayPal Inc. veteran to help guide its mobile strategy. Jack Stephenson began about two weeks ago as JPMorgan Chase's director of mobile, e-commerce and payments.

Square Inc. co-founder Jack Dorsey defended the payments startup's strategy after complaints from some customers over delays in the processing service and the revelation last week of a further lag in availability.

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PNC Financial Services Group Inc. has struck an ATM branding deal with Cardtronics Inc. The Houston automated teller machine operator said Thursday that PNC's brand would appear on the money machines it operates at all of Hess Corp.'s 230 service stations in Florida.

ABN Amro NV announced it has completed an internal test of contactless debit cards for small-value transactions. The Dutch banking company expects to conduct a larger test starting this summer.

PayPal Inc. is beginning its second contest to encourage third-party software developers to create applications that tie into its payment system.

The Herndon, Va., electronic payments association said last week that in May its members had approved a new rule for classifying ACH debit transactions initiated via mobile channels.

To First Federal Savings Bank, the practice of using bank logos on contactless payments stickers makes branding sense, but not fashion sense. So it went with pink camouflage.

Wolters Kluwer Financial Services said Citizens Bank of Oklahoma in Pawhuska has agreed to use its ComplianceOne system.

First Data Corp. said Thursday that The Bankers Bank of Oklahoma City will use its Internet banking technology.

Socialwise Inc. said three sports retailers plan to accept and promote its BillMyParents online payment system.

More than 100 banks and credit unions have agreed to offer the person-to-person transfer service being developed by Fiserv Inc.

The top executive of Green Dot Corp. said Wal-Mart Stores Inc. would not play a role in operating the bank holding company the prepaid card provider is trying to buy if the deal is approved.