Bank technology

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

Deutsche Bank has appointed Kim Hammonds to its management board and promoted her to chief operating officer.

Housing finance reform in Congress is stalled, but Fannie Mae and Freddie Mac (often under pressure from their regulator) are forming partnerships, developing new products and finding ways to share risk with the private sector to correct flaws in the housing system.

Two new apps, Penny and Sense, highlight customers' most pressing and interesting financial information without making them search for it. The apps, inspired by Google Now, come as banks worldwide try to provide more sophisticated mobile features.

In buying Germany's Wincor Nixdorf, Diebold would not only be eliminating a rival — it would also gain new technology and retail relationships vital to its success in an economy that is growing much less reliant on plastic cards.

Some banks have begun to look at social media posts and website meanderings to better understand their customers and improve digital marketing. The practice is legal, but raises ethical questions.

Diebold Inc. offered 1.57 billion euros ($1.8 billion) in cash and stock to acquire its German rival, Wincor Nixdorf AG, in a bid to create the biggest maker of cash machines and security systems with about $6 billion in sales.

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.

Its massive core banking system overhaul complete, BBVA Compass can now focus on creating an AirBnB-like experience for customers, says CEO Manolo Sanchez.

Bankers are increasingly concerned that an optional cybersecurity assessment tool released by regulators this summer could soon become mandatory.

Citigroup has launched a unit in its global consumer bank dedicated to the development of its mobile banking services and promoted Heather Cox to be its CEO.

EMV card technology has fully replaced traditional magnetic stripe cards in virtually all developed countries except the U.S. In these markets, it's proven to be an effective technology to reduce fraud for card-present transactions, forcing fraudsters to migrate to areas that have not adopted a chip-based payment system.

Some 75% of chief information officers plan to increase spending on security technology next year, with many anticipating jumps in security budgets of 20% or more.

New York's state banking regulator may have set down rigorous guidelines for the Symphony online messaging service. But will the rules actually work, and will other agencies will adopt similar guidance?

The North Carolina company has signed up 70,000 people for its U platform, which debuted last month and could help it pare back its branch network over time. BB&T is already looking to add quarterly credit scores to the portal.

The U.S. might be ahead of the rest of the world in some areas of security, but when it comes to protecting against credit card fraud, we're way behind.

First Data Corp. raised $2.56 billion in its initial public offering, pricing the shares below the marketed range.

The chiefs of Fiserv, FIS and TCS Financial Solutions explain how they continue meeting customers' current needs while preparing for the inevitable day when those needs radically change.

Square, the mobile-payments company founded and led by Twitter Chief Executive Officer Jack Dorsey, filed for an initial public offering.

Capital One Financial Corp. introduced a tap-to-pay mobile-payments service, becoming the first major U.S. bank to offer such functionality in competition with Google Inc.'s Android Pay.