Bank technology

Although bankers are (hopefully) less likely to store compromising selfies in the cloud, the infiltration of celebrities' iCloud accounts illustrates the danger of saving anything with a consumer-oriented cloud service.

The company is opening high-tech loan production offices and using data analytics to match customers with products. But like other banks seeking to modernize, Seacoast is trying to balance short-term needs with costly long-term investments.

Kofax, a maker of imaging and business process management software, is acquiring Softpro, a provider of fraud prevention and electronic signature software based in Boeblingen, Germany, for $34.7 million in cash.

While customers were losing faith in banks, they were falling in love with tech. Banks will have to start changing their message if they're going to catch up, according to consultant Chiaki Nishino.

Fintech startup Stockpile lets banks sell stocks as virtual gift cards through their online banking portals.

Barclays Bank is planning to open a global technology support center in McKinney, Texas.

The Consumer Financial Protection Bureau has turned to a technology expert for a little help.

A large cybertheft against JPMorgan Chase and other big New York banks is said to have started with a break-in on an employee's computer at home. It serves as a reminder that big problems can start in small places and that banks need to take more steps to minimize the damage from hacker attacks.

All banks, regardless of size, must invest more in technology despite shareholder pressure to cut costs, said Victor Nichols, a former CIO at Wells Fargo and current director at Bank of Hawaii.

Banks that misinterpret regulatory guidance on vendor risk management can wind up shortchanging themselves and stifling industry innovation, according to consultant Paul Schaus.

JPMorgan Chase & Co., the biggest U.S. bank, said it increased defenses against computer hackers after an attack against the industry this month.

Russian hackers attacked JPMorgan Chase and at least four other banks this month in a coordinated assault that resulted in the loss of gigabytes of customer data, according to two people familiar with the investigation.

Russian hackers attacked the U.S. financial system in mid-August, infiltrating and stealing data from JPMorgan Chase & Co. and at least one other bank, an incident the FBI is investigating as a possible retaliation for government-sponsored sanctions, according to two people familiar with the probe.

Banks are closely following an emerging technology BillGuard is testing that would monitor the whereabouts of mobile devices to detect payment anomalies.

LendingClub, the platform that allows borrowers to bypass traditional banks by connecting directly to lenders via the Internet, filed for a $500 million initial public offering in the U.S.

London-based Monitise and IBM are expanding their collaboration by combining more mobile banking, payments and commerce technology and staff.

Boards at community banks are being asked to have greater oversight of cybersecurity issues as data breaches continue to mount. The challenge is balancing such work with other demands.

Congress should impose national data security standards on retailers in order to ward off cyberattacks and ensure the safekeeping of sensitive customer information, according to Carrie Hunt of the National Association of Federal Credit Unions.

Westpac New Zealand is upgrading its data centers, security infrastructure and software development as it seeks to quickly create products for mobile, wearable and other devices.

Now that they have the basics covered, many banks are thinking creatively about how their mobile strategies need to evolve. Get ready for some cool new apps.