Bank technology

The U.S. government needs more time to assess the Bitcoin "phenomenon" to ensure the virtual currency isn't used for unlawful purposes, Treasury Secretary Jacob J. Lew said.

T-Mobile's bid to provide basic checking services to its mobile phone customers is the latest signal that banks are losing the low end of the consumer market.

EBay CEO John Donahoe provided a glimpse into PayPal's ongoing strategy for mobile payments in defending his company's conclusion that it should not spin off the subsidiary.

The fallout from the recent Target and Neiman Marcus security breaches has led to a war of words between bankers and retailers.

Banks have long struggled to migrate financial relationships onto mobile devices and to attract the underserved. Carriers like T-Mobile, on the other hand, come into the market with a distinct advantage.

How could this happen? Why is the U.S. payments industry still using archaic and notoriously insecure magnetic stripe card technology? And will the episode change anything? American Banker answers frequently asked questions about the Target breach.

Something resembling deposit insurance for virtual currencies may still be in the distant future. But a growing array of startups is attempting to offer Bitcoin users a similar layer of security to that enjoyed by bank depositors.

T-Mobile has launched a checking service that aims to lure the underbanked away from high-fee check cashers and payday lenders.

The next decade should be a payments-industry renaissance, but thanks to established market shares and persistent consumer and merchant habits, familiar names will remain at the core.

FIS (FIS), one of the largest fintech providers worldwide, announced Wednesday a new CIO: Ido Gileadi.

Wells Fargo (WFC) has forbidden its employees from participating in peer-to-peer lending, according to a Monday report in the Financial Times.

It's been roughly a decade since Target executives ended their attempts to convert to EMV-chip payment cards to improve security. After a massive breach of magnetic-stripe card data, it seems they have changed their minds yet again.

Wincor Nixdorf, a provider of IT solutions and services to retail banks, announced in a release Tuesday several new technologies it is set to release at its 2014 trade fair, Wincor World, spanning Tuesday to Thursday.

We recently grilled mobile app designer Greg Nudelman on what banks should be doing differently with their mobile banking apps.

Valley National Bancorp. announced Tuesday a five-year restructuring plan in which it will modernize many of its 204 bank branches.

McAllen, Texas police have arrested two people from Monterrey, Mexico that the local cops say were in possession of fake credit cards made with information obtained from the Target data breach.

The Office of the Comptroller of the Currency took action against bank technology providers BSERV and Fundtech in December, ordering the companies to ensure that their services effectively monitor risk.

BBVA Compass is testing a new drive-through concept that includes units that stream video so car-bound customers can communicate with tellers. It's the latest example of how banks are rethinking physical and digital channels.

Voice activation could give consumers increased visibility into their accounts and keep them connected to their bank.

The two primary functions of banking should be to take deposits and to make loans; all other services should be supplementary to these two primary activities.