Bank technology

A new study finds that P2P borrowers want the option to use branches. Could this be an opportunity for banks?

Australian bank Westpac added location-targeting technology in the latest upgrade to its mobile app to smooth customers' banking experience on overseas trips. Banks face the daunting challenge of balancing security and convenience when customers go abroad.

Westpac has signed an agreement to use some of Moven's digital money management tools.

The Department of Homeland Security has issued an alert about the potential risks of data breaches at the point of sale caused by a type of malware known as Backoff, which has already affected more than 1,000 businesses.

Every day, consumers give out their credit card or bank account numbers to strangers whom they trust to take out the correct amount and safeguard their sensitive information. "That's terrifying if you really step back and think about it," says Jeremy Allaire of Circle Internet Financial.

Members of the San Antonio financial services company can now use its mobile app to conduct verbal or text searches, speak with customer service representatives and conduct increasingly sophisticated transactions. The ultimate goal is an app that learns from customer behavior and acts more human.

JPMorgan customers were targeted with a phishing scam earlier this week aimed at obtaining online banking credentials.

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.

The theft of 4.5 million customer records from Community Health Systems could bring a wave of identity theft and illustrates the need to eradicate the Heartbleed bug from banks' networks.

A generation shift could also create issues for community banks that are in search of fee income.

United Parcel Service Inc. said a breach of computer security at some of its UPS Store retail outlets may have exposed customers' personal and payment data this year.

Like a few other banks with similar initiatives, Wells Fargo is not counting on a financial return for its new accelerator program. Rather, it's looking for more intangible benefits.

Given Americans' heightened concerns over cybersecurity, banks should reconsider the notion of promoting card use for every transaction, according to Douglas Ceto of CetoLogic.

Wells Fargo has joined a handful of banks running accelerator programs designed to nurture young fintech companies, foster new ideas and help financial institutions stay relevant in a digital age.

Credit Karma and Fandango have settled charges with the Federal Trade Commission that their mobile applications inadequately protected consumers' payments and other personal data.

Mixed signals from regulators — on everything from electronic checks to Operation Choke Point - only create fear, uncertainty and doubt among those in the business of improving the payment system, writes Glen Fossella.

Square and Twitter founder Jack Dorsey has been in Ferguson, Mo., as part of the protests that followed the police shooting of Michael Brown, an unarmed African American teenager, earlier this month.

Executives at Tangerine and Moven are dousing themselves with ice water to raise awareness for Lou Gehrig's disease, and posting their videos on Facebook.

Deutsche Bank has hired two executives to oversee technology and operations. Richard Shannon has been appointed chief information officer and co-head of group technology and operations for the Americas, while Scott Marcar will be head of IT Infrastructure, the company said in a press release Monday.

"Cold storage" of cryptographic private keys, private theft insurance, and audited full reserves can prevent another Mt. Gox-like debacle, says Jeremy Allaire, the CEO of Bitcoin startup Circle Internet Financial.