Bank technology

With New York's framework for regulating digital currency now final, a looming question is whether other states such as California will follow suit.

WSFS Bank has teamed up with ZenBanx, a fintech startup founded by a pioneer of direct banking, Arkadi Kuhlmann. WSFS will be the first in the U.S. to power a mobile account that lets users park money in up to five currencies and send remittances. The partnership is the latest example of a traditional bank trying to inject innovation into its culture.

In the second part of a two-part conversation with American Banker, miiCard's James Varga discusses how his company leverages the trust placed in banks to create "digital passports" for consumers to prove their identities without oversharing information.

U.S. Bank in Minneapolis has updated its mobile corporate payments app with features that allow the use of virtual card accounts — single-use, cardless accounts through which a users are given a temporary 16-digit number with which to make a payment.

Big data has the potential to help people save money, improve their lifestyles, treat existing ailments and prevent new ones. But it's up to the business sector to earn the trust of consumers and lawmakers.

Departing New York state regulator Benjamin Lawsky revealed the final version of the BitLicense, the regulatory framework for digital currency businesses his department has developed over the past 18 months.

The vendor says it's in the running for several core banking contracts in the U.S., including one where it is competing against multiple packages from the market leader, FIS.

JPMorgan Chase is eliminating voice mail for consumer-bank employees as part of a push by the biggest U.S. lender to trim $2 billion in annual expenses.

Heartland Payment Systems has reported it suffered another data breach last month.

American Express Co. President Ed Gilligan, who died last week on a return trip from Tokyo, suffered an embolism and subsequent heart attack, according to a person briefed on the matter.

Though lukewarm about Bitcoin itself, bankers see promise in the technology it runs on, specifically the distributed ledger, for efficiency and security improvements in areas like payments and securities handling.

The Federal Reserve Board on Friday announced the appointment of a senior official at the Federal Reserve Bank of Chicago to lead the central bank’s efforts to improve the national payments system.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including a call for a small-business loan brokers' code of ethics and why Congress needs to level the playing field for investors in bank obligations.

A specialized Wells Fargo branch in Des Moines and the nonprofit Digital Finance Institute are part of a small but growing movement to improve access to financial services for emigres who have escaped war or persecution.

First Bank in Wilmington, N.C., opened a new branch in Jacksonville, N.C., earlier this week, that was designed to be environmentally friendly.

The Disney-Pixar movie "Finding Nemo" inspired a run on clownfish in pet stores across America. Banks should pursue the same effect with content that connects with customers on an emotional level and inspires them to take action.

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 from our social media platforms.

Recognizing that twice as many customers use online banking as mobile banking, the San Francisco bank has invested in a redesign of its website, an area many banks have neglected of late.

Financial messaging organization Swift opened its KYC registry to fund distributors and custodians Thursday.

A visit to an overnight shipping store in Napa Valley reveals that outdated payment-processing procedures remain de rigueur with some merchants — despite the fraud risk.