Bank technology

Authentify is unveiling an extension to its mobile device-based authentication software.

Green Dot will eliminate its MoneyPak reload cards, which have been targeted by scammers, and instead will let consumers reload prepaid accounts at the point of sale, its top executive said this week.

Banks need to develop effective ways to engage millennials, a growing segment of the population, and the best way to do this is through mobile devices, according to Fair Isaac.

Cyber-savvy con artists posing as company CEOs are carrying out highly successful financial frauds. Bank of the West's David Pollino is on a crusade to educate banks and their corporate customers about this threat.

We're teaming up with BAI on new initiative focused on providing bankers information and perspective to aid in future technology decisions.

A sizable portion of the banking industry has increased spending on mobile banking technology by more than half this year, according to a recent American Banker survey.

MasterCard's digital wallet is currently live in 10 markets and the company has plans to add four more countries this year in a push to strengthen the card network's capabilities in an increasingly digital world.

Target Corp., struggling to fix a botched expansion in Canada and undo the lingering damage of a holiday hacker attack, hired former PepsiCo Inc. executive Brian Cornell as chief executive officer.

Free credit scores are so seven years ago. Credit Karma, an educational site for consumers that makes money from sending customer leads to lenders, is now publishing free full credit reports on a more frequent basis. The idea is to better educate borrowers who are in the market for credit while collecting better leads for its bank partners.

Credit Karma says it's giving customers weekly access to their full credit files, to help them fix errors and monitor their information for signs of fraud. Will banks follow suit?

Payment technology provider First Data is moving into the virtual prepaid space by acquiring Gyft.

Photo bill pay is supposed to make adding payees a snap for smartphone customers. But the feature faces some problems, including a lack of uniformity of the data on physical invoices and how consumers take the pictures.

Payments startups may be fast and smart, but banks have compliance know-how, an established customer base and physical branches that will help them hook customers on new products.

Diebold is unveiling an anti-skimming card reader designed to prevent criminals from stealing card data from unsuspecting automated teller machine users.

JPMorgan Chase is cutting hundreds of technology support employees in its corporate and investment bank amid a revenue decline, people with knowledge of the move said.

Like the Internet of the 1980s, today's payment systems are a mishmash of disparate, closed networks that cannot communicate with one another effectively. Distributed ledger technologies can solve this problem.

U.S. Bancorp automated teller machines are now accepting donations to help the American Red Cross with its disaster relief efforts in Washington and Oregon.

They haven't caught much media attention lately, but distributed denial of service attacks continue to take place and have become larger, researchers analyzing the latest attack patterns say.

If there's one lesson bankers can take away from the hacking incident at the online ticket seller StubHub, it's that they need to educate their customers about the dangers of using the same passwords on multiple sites.

Community banks need to rethink their technology and marketing to ensure they are snagging a piece of the millennial generation. Big banks have the lead in reaching this demographic, but they are vulnerable, experts said.