Bank technology

A group of hackers calling itself Rex Mundi will release client data stolen this week from the Banque Cantonale de Geneve today unless they get 10,000 euros ($12,000), a ransom the bank said it won't pay.

Until last April, the young adviser now at the center of Morgan Stanley's massive client data breach was a sales assistant who spent the majority of his career under the tutelage of one the firm's wealth management teams.

As with any marriage, banks that forge alliances with tech companies need to make sure they really know their partners. They may also want to consider a prenup.

Kofax, a financial technology company in Irvine, Calif., on Thursday released a product that allows lenders to capture and process electronic signatures.

Nike Inc. was accused by a MasterCard Inc. unit of conspiring to steal scarce technology talent by encouraging two top cyber-security managers to break their contracts with the credit card company as worries of hacking and breaches of customer privacy deepen.

The Man Group, an international hedge funder provider that manages approximately $72.3 billion, has contracted with Thomson Reuters to use its Accelus Org ID "Know Your Customer" platform.

With the availability of artificial intelligence and sophisticated risk algorithms that can run on mobile devices, some say there’s no longer a need for even stripped-down versions of the branch.

Financial institutions need to have good digital offerings, but they also need to find ways to stand out from the crowd. That's why branches will remain a crucial home base.

Synechron, an information technology company focused on the financial services industry, is increasing its global presence with its latest acquisition.

After National Credit Union Administration Chairman Debbie Matz revealed the agency is mulling new encryption standards, a trade association says the regulator should focus on its own steps to "better protect" member "data in its care."

The leak of client records at Morgan Stanley illustrates the danger posed when just one employee has unauthorized or unsecured access to sensitive information, as well as the ongoing threat to financial institutions from insider theft.

The ideal digital bank would respect customers' privacy and relate to them as human beings while offering an array of simple, easy-to-use mobile and online apps.

The prepaid card issuer Green Dot has promoted Kuan Archer to become its chief operating officer.

Geolocation can play to community banks' strengths as supporters of local businesses. But small institutions typically lack the resources to create and test this technology and their core platform providers have yet to offer such services.

Technology companies are wooing customers away from traditional financial institutions. If banks want to address this threat, they need to rethink their business models and stop chasing profits at all costs.

New screens are treated with an agent that deters the growth of bacteria. Will germaphobes welcome them?

Scott Sanborn, the chief operating officer of established alternative finance giant Lending Club, has joined the board of CircleUp, an emerging online marketplace for private equity investment.

This may be the year that banks finally adapt to the new risk landscape by shaking up their boards, bolstering cybersecurity and increasing vendor management.

A fired Morgan Stanley financial adviser accused of stealing client data never intended to sell the information and "is extremely sorry for his conduct," his lawyer said.

Moven has modified its personal financial management app to work on a smartwatch. Will millennials be more likely to heed spending advice delivered to their wrists rather than their phones?