Bank technology

Kaspersky Lab has unveiled a cyber-heist in which hackers have already stolen $1 billion from banks across the world. Here's what banks should know about how the hackers did it — and what institutions can do to protect themselves.

Social Finance, an alternative lender that has made its name in student loans, has branched out into unsecured personal loans.

A hacker group has stolen as much as $1 billion from banks and other financial companies worldwide since 2013 in an "unprecedented cyber-robbery," according to computer security firm Kaspersky Lab.

Bankers, technology CEOs and President Obama are throwing everything they have at countering the growing threat of cyber attacks, putting their faith in biometrics, tokenization and data sharing. But it's far from clear that it will be enough.

The company is addressing a problem more institutions will face as consumers increasingly bank from mobile devices. Application performance management software also helps Comerica deal with problems throughout its infrastructure.

Crowdfunding has become all the rage, and it's making some banks nervous about losing small business clients. But investUP, a "supermarket of crowdfunding platforms" that launched during Finovate Europe in London this week, thinks banks can benefit from the trend.

Banks nationwide are finding ways to make mobile deposit capture available to more people and faster without taking on more fraud risk.

American Express will certainly suffer when its 16-year cobranding deal with Costco ends in 2016, but its executives will spend the next year building up the card brand's digital payment products to create enough opportunities to ease the company's short-term pain and guarantee its long-term health.

Digital Insight, a company owned by NCR Corporation, has secured an agreement with EyeVerify Inc. to integrate the biometrics company's eye vein recognition technology, called Eyeprint ID, into its mobile banking platforms.

The Federal Reserve Board has raised several concerns about the interbank fee that is part of an industry group's plan to make funds available to consumers on the same day. It's another speed bump in the road to modernizing the U.S. payment system.

This week's White House Summit on cybersecurity at Stanford University comes at a pivotal time for payment and security professionals, who have an opportunity to cooperate to fight Internet crime.

ApplePie Capital, a new marketplace lender that specializes in lending to franchises, has officially opened for business.

Top executives from Bank of America, U.S. Bancorp, American Express, MasterCard, Microsoft and Apple are expected to participate as part of a White House summit on cybersecurity issues in California on Friday.

Temenos, a Geneva-based provider of core banking software to the financial services industry, has acquired Akcelerant, a financial services software company based in Philadelphia.

Westpac New Zealand is launching a new "omnichannel" powered by responsive design technology and offering its customers Moven's money management tools, two firsts for the industry.

The central bank is floating the concept of using the Internet to facilitate the direct clearing of transactions between financial institutions, which would likely diminish its own role in the U.S. payment system.

Websites are the old dog compared with mobile, but www.yourbank.com still has some life left in it in some eyes. Here is a sampling of Web features lauded in a recent survey of 16 banks' sites.

The creation of a new cybersecurity agency is the latest move by the Obama administration to combat the increasing threat of cyberattacks.

Hackers in several financial services industry data breaches targeted customer-contact information that is often thought of as less sensitive. But crooks can use that data and other bits of stolen info to do great harm.

Speakers at the American Bankers Association's Conference for Community Bankers made it clear that smaller banks must find ways to embrace new and disruptive ways of doing business to compete the bigger institutions and nonbanks.