Bank technology

Online outrage this week over low wages at McDonald's has drawn in Visa, the processor of its payroll cards. The criticism comes as the cards in general and McDonald's version in particular are drawing mounting scrutiny for the fees they charge workers.

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

Banks have a great deal of data available, but lack the technology to make the most of it, a Deloitte survey has confirmed. Almost a third of banks don't even use analytics in strategic decisions because they don't have the right software.

Innovations from nonbanks will need a platform to provide distribution and the ability to scale quickly. Smart bankers will partner with startups to provide together what neither could do alone.

The editors of American Banker's BankThink blog discuss an ongoing series, "The Future Model of Banking," in which contributors envision products and services tomorrow's banks can offer that add value and that customers will happily pay for.

A staged cyber assault meant to test banks' response to cyber threats took place Thursday from the middle of the morning to early in the afternoon.

The $940 million credit union will begin using Insight, a processing system co-developed by COCC and its former rival Open Solutions and licensed by COCC, it said Thursday.

Raymond James Financial (RJF) in St. Petersburg, Fla., announced Thursday it will use Hearsay Social to support its employees' use of social media.

Since Apple released the iPhone in 2007, mobile banking apps for retail banking customers have become a must have. Yet, one customer type has been neglected in the app stores: small business owners.

After failing to respond to customer demand and missing tectonic shifts in money transmission and online and mobile payments, banks have an opportunity in the emerging area of cryptographic money.

Citigroup failed to safeguard the personal information — Social Security numbers, birth dates and other sensitive data — of nearly 150,000 consumers who went into bankruptcy between 2007 and 2011.

Community bankers from Kentucky, Utah and North Dakota discuss specific ways they use Facebook, Pinterest and other social media to get to know their customers better and look engaged in their towns.

Heartland Payment Systems has chosen Alaric's fraud-prevention system.

First National Community Bank in Dunmore, Pa., has selected a core banking system from Fiserv.

On the eve of Quantum Dawn 2, the cybersecurity exercise SIFMA is conducting to test the banking industry's ability to cope with cyberattacks, a new report suggests that cyberattacks continued to increase in the second quarter of 2013.

Companies that provide on-demand, cross-account control and recommendations are best positioned to serve evolving consumer behavior. Banks that don’t get ahead of this shift could be relegated to the role of back-end infrastructure provider.

Co3 Systems announced Tuesday that it’s expanding its Privacy Module software to include definitions, regulations and news about data breaches in the European Union.

Sauce Labs, the San Francisco cloud-based mobile and web application testing solution provider Tuesday today announced an enhancement to its product and a fresh round of venture capital funding.

Wilson Bank & Trust will become one of the first banks to test MoneyDesktop's latest marketing capabilities.