Bank technology

Wells Fargo has begun issuing WellsOne commercial cards that comply with Europay, MasterCard and Visa, or EMV, specifications, and include an embedded microprocessor chip along with a traditional magnetic stripe, it said Wednesday.

eBay Inc. said PayPal will be available in 2 million retail stores this year as it takes on Square Inc. and Intuit Inc. in the market for mobile payments.

Attendees at the Bitcoin2013 conference were excited about the technology's potential to disrupt the payments business – specifically micropayments, international remittances and charitable giving.

A growing number of community banks are hiring consultants to negotiate core processing and IT-service contracts, which are typically among a bank's biggest expenses.

As digital transactions increase, branch transaction volumes continue their year-over-year declines, according to a new study published by FMSI.

Observers have suggested that if EMV or chip-and-PIN cards were required throughout the U.S., a recent $45 million fraud that involved some U.S. ATMs would have been prevented. A closer look at the incident suggests this may not be so.

NCR Corporation has installed the first ATM in the country that complies with the so-called Europay, MasterCard and Visa, or EMV, standard, which is intended to reduce fraud.

Financial software firm Akcelerant has updated its loan-origination technology.

Analytics firm Xenomorph is bringing its data-management program TimeScape — which financial firms can use for trading, risk management, information technologies and back-office functions — to Microsoft's cloud platform, Windows Azure.

The tech company's new services represent a virtual slap in the face for the likes of banks and PayPal. If added to Google Glass, they potentially represent a knockout punch.

Vasco will pay approximately $20 million in cash for the Cambridge, U.K.-based Cronto, with certain conditions that could push the final payout to $22 million, the companies said Monday.

Indiana Members Credit Union in Indianapolis has switched to Jack Henry & Associates' core-processing system.

Umpqua CEO Raymond Davis expects banks to focus on customer service and building smaller branches in the years to come.

Experian announced Tuesday that a division of its marketing services department, QAS, has launched phone number verification software that can differentiate smartphones from landlines.

The U.S. government's push to fortify the nation's cyber defenses should complement industry efforts, bank and credit union lobbying groups are expected to tell Congress on Tuesday.

National Regulatory Services, a maker of compliance software, has upgraded its ComplianceMAX platform. The software helps broker-dealers, advisers, banks and insurance companies handle audits, complaints, and registration.

Capital One is employing a technology called responsive design that changes the appearance of its website for desktop, smartphone and tablet devices.

Bloomberg LP has hired a consulting firm with significant ties to financial regulators to help review its privacy policies.

Hackers backed by China's military appear to have resumed a campaign of cyberattacks on U.S. businesses. The targets, which in previous attacks included financial firms, are thought to remain the same.

First Trade Union Bank unveiled an app for iPad that includes standard mobile banking feature such as allowing customers to deposit checks, pay bills, schedule payments and view accounts.