Bank technology

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.

Granted, journalists can be scavengers; they're nosey and can be positively annoying when they want information. But why does a whole group of crypto-anarchists and technologists think they have the moral high ground?

FICO plans to release a new broad-based scoring model this summer that helps lenders analyze a consumer's credit risk with greater accuracy. This product launch will represent FICO's first changes to its scoring model in six years, said Anthony Sprauve, senior consumer credit specialist at FICO.

New innovations in data security, including chip technology, tokenization and end-to-end encryption, are adding even more technologically advanced fraud prevention tools to our nation's payments infrastructure.

Bank of America (BAC) has introduced a new checking account targeted at customers who typically maintain low balances.

The rise of mobile and online banking seems likely to make personal checks a thing of the past. But high earners and older customers still have a regular need to take pen to paper.

Rep. Jared Polis, D-Colo., has launched a hilarious stunt to urge federal regulators to ban U.S. dollars, following a more serious plea by Sen. Joe Manchin, D-W.Va., to prohibit Bitcoin.

The online lender is about to surpass the $1 billion mark in loans and it just received another round of venture funding that will help keep the momentum going.

Popular consumer apps like Yahoo Weather are setting a high bar for mobile app design. The following six companies are role models of sorts for the ideal user experience.