Bank technology

The dress was casual. The presentations were edgy. But representatives of Capital One's innovation lab made it clear to the South by Southwest crowd that it's not exactly like the startups it wants to hire away from.

BMO Harris is adding cashless ATM access to 750 machines, enabling customers to withdraw cash using a smartphone application instead of a plastic card.

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The development of an app for Apple Watch is a byproduct of Citi's broader transformation plan to get tech experiences quicker out of the gate. It also speaks to how mobile, and now wearables, is giving PFM an opportunity to have a comeback.

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.

When customers have a problem on mobile or online banking and (gasp) need to turn to a real person, Bank of America's Steve Beasty wants them to have a seamless — and friendly — experience.

Smaller banks need to develop detailed marketing plans to reach out to cardholders, while also working with their processors to prepare for the transition to EMV cards.

Mobile wallets will undoubtedly become more popular with time, but plastic cards won't be easily killed off. We add to payment options to increase security, options and convenience.

There is a leadership void in payments innovation. The Fed has the ability and the historic precedent to take up the mantle.

FirstBank Holding Company is appealing to young, outdoorsy and wired customers with soft marketing, including a smartphone-guided treasure hunt for free snowboards and skis at a Colorado resort.

Community banking groups have recently struck referral deals with marketplace lenders that could add revenue in the short run, but they might be giving away potentially valuable data and customers in the process.

Apple Pay and cryptocurrencies such as Bitcoin have a lot of appeal for banks looking to stay at the cutting edge of digital payments. But security and compliance risks are part and parcel of these innovations.

Telecommuting isn't new for front-office loan officers, but in an increasingly competitive hiring environment, some mortgage lenders now let their underwriters work from home, too.

Banks can expect to incur higher costs in several areas during the implementation of a settlement agreement to improve the accuracy of credit reports. But they might benefit in the long run by getting better information on borrowers.

Few would dispute that the U.S. ought to move to a faster payment system. But the hurdles to modernizing the infrastructure are daunting, said participants in a panel at this week's Retail Banking 2015 conference.

The Ohio bank has partnered with MorningStar's HelloWallet to offer customers financial health scores and a suite of digital tools meant to provide financial advice at a time when branch transactions are on a decline. The experience will eventually be delivered through the bank's online and mobile banking channels.

Jeffrey Robinson is hardly a fan of Bitcoin (the title of his latest book, "BitCon," kind of gives it away.) But as the author of a classic 1990s book about money laundering, even he says that Bitcoin is a terrible tool for that particular crime, despite the digital currency's reputation. He explains why in the second part of a conversation with American Banker's Marc Hochstein.

Social Finance Inc., the online-lending platform known as SoFi, is planning an initial public offering that would value the company at $3.5 billion, people with knowledge of the matter said, almost triple what it received in a recent funding round.

Recent studies show financial services companies increasingly use cloud services. But behind the numbers, there are a range of attitudes toward cloud computing, from warm embrace to full-on paranoia.

Bank of America has hired former Duke Energy executive Brett Carter as chief operating officer for its global technology and operations unit.