Bank technology

Sure, there is an inherent business tension between banks' digital offerings and personal financial management software. However, the ground rules for making account data available to consumers for use in external software products and apps are in place and the so-called rivalry is overblown.

High-profile hacks such as the attack on the Swift messaging system highlight how banks depend on each other to have top-notch cybersecurity. "Everyone's security is at risk, because everyone is communicating with each other," says Andre McGregor, director of security at Tanium.

The Federal Reserve Board launched a Facebook page last week — and it went about as well as you would think. Social media experts faulted its approach as high-handed and tone-deaf, raising questions about what the central bank was trying to accomplish and about its commitment to social media.

The New York State Department of Financial Services has fined Mega International Commercial Bank in Taiwan $180 million in connection with allegations that it violated New York’s anti-money-laundering laws.

Analytics tools for customer experience are an increasing priority for banks, but technology alone won't change anything. Banks also need to create an internal culture of data science.

With the Office of the Comptroller of the Currency evaluating the possibility of a nationwide charter for certain fintech firms, state regulators are voicing concerns that a charter could cut into their authority.

Eddie Bauer acknowledged that a data breach compromised credit cards used in its 350 stores during the first six and a half months of 2016.

Stakeholders must come together to make sure that artificial intelligence disrupts banking in a manner that incorporates constitutional values and provides responsible banking services to everyone.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

The regional bank has consolidated all of its digital operations under a single leader. Find out what he thinks about customer expectations, bots, fintechs and the coming convergence of digital banking.

People hold up blockchain as the answer to many security issues, including Swift-related hacks and card-not-present fraud. But distributed ledgers have vulnerabilities, too.

Chad Ballard, who most recently served as BBVA Compass' director of mobility and new digital business technologies, has joined PNC Financial Services Group.

Heather Cox is moving to USAA; female regulators are gaining prominence in the online lending conversation; and asset managers are still fighting sexism at work (but then again, who isn’t?).

Banks in cities such as Seattle and New York are getting creative with branching, adding some that are smaller than modest apartments.

Banks have found a novel way to fend off fintech’s plans to take them down: they are funding it. A new report shows corporate venture capital investors, such as those backed by banks, made up nearly a third of funding in the second quarter.

Rather than as an application that solves immediate business needs, blockchain's success is more plausible as a protocol layer on which applications are built.

Cloud-based core vendor Nymbus announced Monday it has completed a $12 million financing round.

Citigroup lost a big technology executive last week and hired another from JPMorgan Chase. Then word surfaced that JPMorgan had decided to replace that exec anyway and a successor was ready to go. It all shows scoring top digital talent has become vital to the largest banks as mobile becomes their future.

Banks sharing cyberthreat data is not new. But more information-sharing groups are forming, and technology is improving, to advance the effort.

Longtime JPMorgan Chase veteran Bill Wallace is set to become digital chief for its consumer bank.