Bank technology

Investigators are examining possible computer breaches at as many as 12 banks linked to Swift's global payments network that have irregularities similar to those in the theft of $81 million from the Bangladesh central bank.

In the ongoing melee between the two major players, strong authentication has been put on the backburner in favor of the respective economies of implementing chip card technology.

In the battle among banks to make use of blockchain, Banco Santander's U.K. unit said it's first among British lenders to use the technology for global payments.

Smartphones are an important window into understanding underbanked customers, the Federal Deposit Insurance Corp. said in a report released Wednesday in conjunction with a meeting of the agency's advisory committee on economic inclusion.

Valley National Bank in Wayne, N.J., has appointed former PNC executive Robert Bardusch to be its chief information officer.

CIT Group has embraced a system that mimics a single source of data to help it comply with increased regulatory scrutiny. It could also help the company become more efficient.

A report by the Conference of State Bank Supervisors found that consolidated companies with money transmitter licenses fell more than 10% from 518 in the first quarter of 2015, to 456 this year.

TransferWise, the U.K. company that's trying to upend the world of international money transfers, raised an additional $26 million to fund expansion in Latin America and Asia.

When it comes to earning consumer loyalty with user-friendly mobile banking tools, everyday interactions can matter more than momentous ones.

The debate over speeding up payments transactions should consider the necessity of allowing consumers time to rethink and abort their purchases.

The San Francisco bank isn't interested in making splashy investments in technology. At an investor day event Tuesday, Wells executives said they would focus on taking incremental steps to reduce costs and improve customer experiences.

The wealth management technology provider SigFig has raised $40 million in equity and other financing from a number of large financial and venture capital firms so that it can expand its business.

Silicon Valley Bank in Santa Clara, Calif., has launched a program that lets new customers sign up for accounts using electronic signatures.

Former regulators, data scientists and academics have come up with a way to turn financial contracts of almost all types into algorithms computers can easily read. The ACTUS standard, if implemented across the board, could ideally give regulators and banks a true systemic view of risk.

Everyone agrees that electronic transactions should be as safe as possible, but a PIN mandate will not prevent online or mobile fraud.

During the ascension of marketplace lending, banks responded to the competitive threat in several different ways. Now some banks are better positioned than others to take advantage of the online sector's recent woes.

A former Citibank payments specialist has been appointed to the board of Meta Financial Group in Sioux Falls, S.D.

WASHINGTON — Seven financial trade groups announced Monday that they are banding together to push legislation that would extend banklike data security standards to retailers and nonbank businesses.

Standard Bank Group Ltd., Africa's biggest bank by assets, said it lost as much as 300 million rand ($19 million) to organized fraud in Japan.

Many see the future of financial services being powered by partnerships between banks and fintechs, but both sides need to first make sure they understand themselves and what they want.