Bank technology

More and more consumers are deciding where to bank based on how enamored they are with the bank's mobile offerings, according to a new report from AlixPartners.

Fiserv Inc., which operates the Accel debit network, has agreed to make MasterCard's common application identifier technology available for routing EMV debit transactions.

Three months after coming to light, the massive exposure of 40 million card accounts at Target Corp. still has the payments industry and consumers talking about what should be done to prevent this happening again. In the United States, that is.

A New Jersey appeals court ruled that debt buyers do not have to provide notice to consumers when debts are purchased and assigned but must prove they own the debt and the amount before they can collect. Further, electronic business records are sufficient for proof.

Chase Merchant Services has developed technology that could have helped its parent company, JPMorgan Chase, deal with the hefty task of reissuing 2 million cards in the wake of the massive Target data breach.

Innovation requires the ability to tinker, test, break and repeat. Strategy and its close derivatives increase and delay the cost of failure. Business cases, focus groups, market analysis and roadshows, among other things, divert resources and defer action.

The bank's hope is that visitors will be inspired enough by the site's uplifting stories to share the content through email and social media sites such as Facebook and Twitter.

Retail bankers are struggling with a vexing mix of competitive and regulatory headwinds these days. As they prepare to gather at American Banker's Retail Banking 2014 conference, the publication's editors discuss what are likely to be the hottest topics of the day.

Pervasive distrust is a thorn in the side of financial technology innovators and bankers alike, and has prevented mobile wallets from helping consumers manage their finances in real time – a tool they desperately need!

RBS Citizens Financial Group announced Tuesday three major tech upgrades for customers of Citizens Bank and Charter One (a division of RBS Citizens that operates in Illinois, Michigan and Ohio): it replaced its fleet of 1,600 ATMs, implemented a new digital teller system and enhanced its mobile apps.

Monitise plc announced Tuesday it's offering mobile alerting software as a standalone product.

Mobile apps and the ATM are rapidly becoming alternative touch points for many customers. But does that mean that bank branches are dinosaurs? The answer is definitely ‘no.’

With its new checkless checking account, Bank of America is taking a different path than many other large banks that have begun offering prepaid cards.

American Express has launched several technology-based initiatives that promote financial education and opportunities for the underbanked and banking startups in the U.S.

U.S. banks have been hesitant to use public cloud services due to security and regulatory concerns, but shrinking profits and pressure to cut information technology spending could soon force them to change their thinking.

First Data Corp. has appointed Frank Bisignano as the Atlanta-based company's chairman, adding to his role as chief executive officer.

Zaio Corp. (ZAO), a Canadian company that tracks property values in the U.S., is in talks to acquire Axis Appraisal Management Solutions in San Rafael, Calif.

Baidu, China's largest search engine provider, is applying for a private banking license, according to Chinese news agencies reports.

The rising generation of young Americans not only have little loyalty to banks, according to a three-year survey of 10,000 people born between 1981 and 2000 — many also believe that traditional financial institutions are on their way to irrelevance.

Taking their cues from popular consumer brands and digital upstarts, financial institutions are modernizing their websites, ATMs, and mobile apps in hopes of creating a better digital banking experience and, ultimately, attracting and retaining more customers.