Bank technology

Central Bank of Kansas City in Missouri has agreed to issue prepaid cards for Cachet Financial Solutions in Minneapolis.

Legacy core systems make banks vulnerable to new competitors and risks. Modernization is underway, but many institutions are not moving fast enough. The risk of waiting too long is that it will take too long to catch up.

The New York banking regulator announced Tuesday it was working on new cybersecurity requirements even as bankers pushed agencies to further harmonize their efforts.

Silicon Valley Bank in Santa Clara, Calif., has hired a chief operations officer to replace Bruce Wallace, as he shifts to a more digital-focused role.

The American Bankers Association is deemphasizing the crisis-era fight over regulation and refocusing on the rising competitive threat posed by technology companies.

BMO Financial Group has recruited Niti Badarinath from U.S. Bancorp to manage its online, mobile and physical channels in North America.

The glacial pace at which card providers and merchants are adding EMV chips to their cards and payments systems benefits no one, and opens new possibilities for card fraud.

Federal prosecutors on Tuesday charged three men in connection with the mass hack attack on JPMorgan Chase that took place in June 2014.

Buying stolen data is an effective way for banks to determine the source of a breach. But fraudsters are increasingly putting up roadblocks because such deals might make it tougher for them to break in next time.

Santander Group has launched an innovation competition for early-stage blockchain startups.

Meta Financial Group in Sioux Falls, S.D., has promoted Cindy Smith to the newly created position of head of technology and operations.

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Zions Bancorp. in Salt Lake City has promoted two executives to leadership roles in the bank's technology division.

U.S. Bank is making a small-business online payment management system available to consumers.

Financial institutions are often thought of as major consumers of technology, but a pair of recent examples show that more tech is being developed in-house and, once proven feasible, monetizing it. Expect more spin-offs, observers predict.

KeyCorp’s biggest deal since Beth Mooney became CEO would make it the 13th largest U.S. commercial bank if approved, and a proposal from Virgin Money's Jayne-Anne Gadhia could prompt the U.K. to peg bank exec bonuses to gender diversity. Also: Barclays' Barbara Byrne, KKR's Suzanne Donohoe and JPM's Eileen Serra.

Raj Date, the consumer bureau's former deputy director, said Thursday regulators need to be flexible, responsive and use discretion when it comes to dealing with financial technology startups.

USAA has partnered with Coinbase to let users view their bitcoin wallet balances, an added financial management tool indicative of a kind of bundling of non-bank financial services it hopes will differentiate it from its competitors.

The number of startup companies opting out of the State of New York — more than a dozen — since the financial services department's BitLicense regulation was finalized is troublesome.

Uber Technologies is drafting plans to offer banking services to its drivers as part of an effort to fend off ride-sharing competition, according to a report by Quartz.