Bank technology

Before banks launch new payment products and services, they should think carefully about their customer demographics, security and regulatory risks and data monetization.

The Bank of England has formally launched CBEST, a new framework designed to help identify areas where the financial sector could be more vulnerable to sophisticated cyberattacks.

The Consumer Financial Protection Bureau Wednesday said it will take a harder look into mobile financial services to see the potential for consumer harm and determine the impact on the underbanked.

FFIEC guidelines issued late last year are slowing technology buying decisions, increasing costs and in some cases, forcing banks to think twice about outsourcing certain IT functions.

Monitise (MONI) has launched Monitise Create, the company's mobile innovation, design and development services arm, in North America.

Financial services technologists discussed the innovations and trends transforming the industry at last week's Digital Banking Summit in Los Angeles. Here are eight tweets that capture the key themes from the three-day fintech confab.

P.F. Chang's China Bistro, a chain of Asian-themed restaurants, said it's investigating whether it was the target of a data breach following a report that stolen customer data had appeared online.

Nigel Morris, a co-founder of Capital One Financial (COF), has joined the board of the parent company of loan marketplace Prosper.

Community banks are testing out a new tool that makes it easier (and far cheaper) for commercial customers to estimate the value of their companies.

Pitney Bowes and Broadridge Financial Solutions have created a joint venture for paperless banking called Inlet and plan to invest $15 million to $20 million in it, the companies say.

Moody's Analytics has agreed to acquire WebEquity Solutions, a provider of cloud-based loan origination and loan risk analysis solutions for financial institutions.

American Banker asked readers, BankThink contributors and staff members to recommend books for bankers to take on their summer vacations. Share your own suggestions in the comments section below.

PayPal President David Marcus is leaving the eBay unit to lead Facebook's messaging products.

Swift in Brussels has announced the five finalists of its third annual Innotribe Startup Challenge, which aims to uncover the most promising innovative financial technology companies.

Apple's announcement that it will make its Touch ID technology available to app developers is good news for bankers who see biometrics as the key to authenticating mobile banking users. But some security experts question whether fingerprint scans are actually more secure than passwords.

LOS ANGELES — Moneyworks, a startup that's preparing to roll out its personal financial management app, took home the $10,000 prize in a financial innovation contest Friday.

Speakers at this week's Digital Banking Summit shared techniques they've borrowed from tech companies to cultivate innovation.

Ten percent of people who used their cellphones to make a deposit had it returned to the originating institution due to fraud, according to new research.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

American Express can provide affordable products to the unbanked and still make a profit, company executive Dan Schulman said at the Emerge conference. He was vague on details but hinted that its prepaid cards built on an lower-cost software platform are part of the answer.