Bank technology

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.

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.