Bank technology

The company’s software analyzes banks’ loan programs and rejections for signs of discrimination.

The way merchants handle payments is becoming just as important as the actual business they're in, says Jeremy Balkin, global head of innovation and corporate development at J.P. Morgan Payments.

First Busey Corp. is investing in software to eliminate the drudgery of some tasks. But this Best Bank to Work For will judge the success of the tech initiative by employee engagement more so than just efficiency. The goal is to boost morale.

Criminals are finding weaknesses in the complex network of applications on banks' sites and exploiting them to launch attacks.

The company, whose software is used by four of the top five U.S. banks, says it will use the money to improve its identity verification and fraud detection technology.

The smallest of the Best Banks to Work For have figured out how to thrive in an environment where many employees are working fully or partly from home. Some are using flexibility as a tool to stave off burnout.

Brett King, founder of Moven, host of the radio show “Breaking Banks” and co-author of the forthcoming book “The Rise of Technosocialism,” has strong opinions about how technology is changing finance and the world. His forecast includes more automation, fewer jobs and the emergence of central bank digital currencies.

A recent report from banking regulators says the digital assets pose too big a risk to the financial system to be issued by state-chartered entities that don’t have deposit insurance. Stablecoin issuers and others reject that claim and say regulators are discouraging competition.

Many of the consumers who embraced online and mobile channels during the pandemic are seeking help from human bankers more than ever, according to research from Cornerstone.

The small Pennsylvania regional signed up four cryptocurrency services companies as customers this week. CEO Sam Sidhu says the bank's new platform is helping it win business in this highly specialized market.

The Cooperative Bank in Massachusetts is working with the tech startup Carefull to monitor accounts for signs that older clients are being swindled by scammers — including people close to them.

FV Bank will let users hold crypto and traditional currencies in the same account. It says it can do that because it’s licensed in the U.S. territory as a bank and a digital-asset custodian.

If law enforcement concludes that the company's devices were used in a cyberattack on U.S. companies, banks may need to change the way they choose, test and monitor point-of-sale equipment.

Collaborations among rival banks and fintechs can be mutually beneficial, Vanessa Colella says. A recent example is a small-business loan portal Citi created that other banks can use.

The credit bureau's $638 million deal to buy the ID verification firm is its second M&A agreement in a little over a month to broaden its line of products and services that help customers combat fraudsters and identity thieves.

These venture capital firms are investing in young companies that could help small financial institutions meet their growing technology needs.

The bank is the first to offer a service from The Clearing House’s Real Time Payments network that lets businesses send bills to retail clients, who are given the option to pay them immediately.

Michelle Moore, head of consumer digital at Wells Fargo, is leading development of an entirely new banking app and a virtual assistant named Fargo that will roll out next year.

Account takeovers and ATM skimming are rampant in cities like Las Vegas and New York. Meanwhile, scammers are targeting travelers as they attempt to pay airlines, cruise ships, car rental companies and hotels.

The 44 large bank and insurance company partners of the Fintech Innovation Lab are inviting startups whose technology can help them manage cybersecurity threats as well as handle climate change metrics and other growing needs to join the lab's next cohort.