Bank technology

The Target card data breach dominated headlines last year, but it was just one of hundreds of hacking incidents to hit banks and expose the personal information of their customers, according to Verizon's latest Data Breach Investigations Report.

The Buffalo, N.Y., bank's chief operating officer and chief financial officer discuss how M&T is spending tens of millions of dollars toward upgrading compliance with the Bank Secrecy Act and high-tech retail services. Its deal to buy Hudson City hangs in the balance.

Some banks have built their entire strategy around being ecofriendly while others dabble in this area. Regardless, being environmentally conscious can help bring in new business.

The influential blogger says it's time for a national debate on the role Experian and other credit agencies play in protecting and consumers' identity and privacy.

Capital Group Cos., the third- largest manager of U.S. mutual funds, urged 800,000 customers to change account passwords and other information to protect themselves from risk caused by the Heartbleed computer bug.

Most banks' websites are believed to be free of the much-publicized security flaw, but network devices, servers, mainframes and mobile apps could still be at risk.

American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the Comments sections of AmericanBanker.com articles.

MasterCard has entered an agreement to buy Pinpoint Pty. Ltd., a Sydney, Australia-based provider of loyalty and rewards services in the Asia Pacific region.

Consumers can now use Lending Club to pay for schooling or elective medical procedures.

Wal-Mart's new "Walmart-2-Walmart" transfer service will enable consumers to send money to each other by using the retail chain's store network.

JPMorgan Chase digital chief Gavin Michael, who joined the firm a year ago, has a certain disdain for some competitors' staid mobile-banking apps. So when it came time for the bank to update its app, Michael said he studied software produced by technology startups.

Banks are aiming to add personal financial management features, including goal-based savings vaults and cash flow forecasting, to standard banking apps like mobile check depositing. Their goal: Turn Gen-Y into a loyal client base.

WASHINGTON — Comptroller of the Currency Thomas Curry said his agency is increasingly concerned about the cybersecurity risks from banks relying too much on certain vendors and using service providers in foreign countries.

First Data in Atlanta has named retired JPMorgan senior executive Heidi Miller to its board of directors.

The app, called Pinacle, lets executives manage user access to company account data, view balance and transaction details, approve wire transfers and receive alerts.

Compliance software vendor Strevus is adding support for bitcoin and other cryptocurrencies to its products.

The cutting-edge bank — it already offers smart watch apps — is testing the technology on its employees' mobile devices and, if all goes well, it plans to roll it out to its customers by late summer.

The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide.

Bank of China New York has agreed to use Deutsche Bank's new payments technology to process international payments to U.S. recipients.

The goal is to meet the financial education needs of everyone in the community — whether it’s the tech-savvy second-grader, the recent high school graduate getting her first checking account or a retiree learning how to stick to a fixed income.