Bank technology

Recipients of the 2015 FinTech Forward awards discuss where banks fall short in competing with startups.

SunTrust has removed a clause from its severance agreement that laid-off employees claimed would have put them on call for two years to answer questions without compensation. Loss of institutional knowledge may be the cost of offshoring.

The degree of success Starling Bank achieves could foreshadow how similar digital banking entrants in the United States might perform given a narrower product selection, a commitment to mobile, and a focus on collecting and analyzing data.

Recipients of the 2015 FinTech Forward awards discuss how banks can remain competitive with nimbler, innovative startups.

With the EMV liability shift having just passed, banks and merchants alike are scrambling to comply with the card network-imposed deadline.

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.

Nasdaq has acquired SecondMarket Solutions, a New York software-as-a-service provider that focuses on helping companies prepare for an IPO.

Great news: Women snagged a handful of C-level titles at big companies this week, including Ellen Alemany, Kim Hammonds and Heather Cox, and Square stands out in Silicon Valley with a leadership team that's 60% women. Bad news: the gender pay gap is growing and there are only two women among Harvard's picks for the top 100 CEOs globally. Also in the news: Blackrock's Cheryl Mills, B of A's Cathy Bessant and ICICI's Chanda Kochhar.

The widespread adoption of online and mobile banking has largely happened at a time when rates have been near zero. At some point, rates will rise and the value of the experience will be pitted against the value of a yield for depositors. Rate-hoppers will be able to move at an unprecedented speed.

Recipients of the 2015 FinTech Forward awards discuss how banks can remain competitive with nimbler, innovative startups.

Industry representatives are howling about the lack of consumer benefit from the Durbin amendment, but we still know very little about the impact of the debit fee cap.

Skills Fund, which has raised $11.5 million in seed capital, is one of several lenders targeting students hoping to boost their salaries by quickly learning how to write computer code.

Furthering efforts to bring virtual currency mainstream, cryptocurrency companies and trade groups are teaming up to create a forum to aid law enforcement in weeding out criminal activity.

The head of the Consumer Financial Protection Bureau warned software vendors that they face new scrutiny from regulators for causing mortgage lenders to miss the TRID-compliance deadline. He was vague about how far the CFPB might go, but many in the industry are prone to fear the worst.

Combing through data to find people who’ve paid for something twice or left their cash at the ATM helps the bank build goodwill with customers, says analytics chief Christian Nelissen.

Regions Financial in Birmingham, Ala., said its longtime head of operations and technology, Cindy Rogers, will retire at the end of the year.

So many banks are running systems that were implemented before 1984, the year Mark Zuckerberg was born. They’re going to be dead meat in the age of real-time connectivity in the near-free world of today’s mobile Internet.

NerdWallet said former Citigroup banker Simon Williams is joining the consumer finance startup advised by Vikram Pandit, swelling the ranks of senior financiers helping the company.

UniRush's transition to a new processor caused major service interruptions for users of its popular RushCard prepaid products.

While migration to cards with chip technology should help mitigate card fraud, additional steps by retailers and more layers of security are needed.